MM NYC or a BB Continental European office, what do you think?

Hello everyone,

Have two internship offers, one for a MM bank in NYC or a BB bank but in a local European office. Both would be for off-cycle internships.

Debating whether NYC trumps the rest, or whether the fact that it's a BB makes it worth sacrificing on location.

Thank you!

 
Best Response

No problem. Without knowing the details and based off my (limited) knowledge, I would break it down like this:

BB EU: +: Stronger brand name, likely gives you the possibility to transfer internally in 3rd analyst year or perhaps directly after internship if you're a very strong performer (and want to), opens doors in local country after 2 years (given you speak the local language), likely more senior exposure, wide industry skill set, lower COL (dependent on country - Paris, not so much)

-: Options after 2 years likely limited to local country, likely less modelling exposure (probably group dependent, but my experience is that industry or product teams 'hold the model'), less specific industry knowledge

MM NYC: +: Specific industry knowledge, likely more modelling exposure, better exit opportunities (in the US) after two years (this can be debated but the two-year analyst program is a more proven track in the US), opportunity to lateral in NYC

-: Tough if you aren't interested in FIG, less brand recognition (more relevant if you stay in banking past two years), higher COL

This goes if this is your last internship while in school and you are planning to join after the internship. If you are still in school after and plan on one more internship, I would say the BB brand trumps the networking opportunities of being in NYC (you won't really have time to run around and drink coffee all over the city when you are trying to prove yourself as an intern).

Cannot give too specific advice (probably wouldn't even if I knew the places, as I don't know the various EU offices), but both are good opportunities and the main deciding factor should be where you want to work and where you like the people better.

 

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