How should I use the next 9 months to break into M&A?
I’m starting Masters in Corporate Finance (M&A track) at Bayes Business School (#2 BS in London, considered tier 1.5) this September. I'll be 30 YO upon graduation
My goal is to break into M&A/IB in London, then eventually move back to GCC (Saudi/UAE) where I'm a citizen.
I left my traditional operational finance job at JNJ to focus on admissions and make a career pivot. Therefore, I have ~9 months free before the program and I’m evaluating three realistic paths:
1. 6-9 months Unpaid M&A internship at a very small boutique (2–4 people).
Cons: tiny brand, I might end up doing origination work and nothing materializes. And it's unpaid.
2. Big 4 Transaction Services (TS) – 6–9 month stint.
Cons: Might take several months to materialize. I might burn bridges by leaving to pursue masters, merely months after joining. I could also postpone my masters.
3. Standard corporate/operational finance role (FP&A, budgeting, etc.).
Pros: paid, stable, fills the CV gap.
Cons: not directly relevant for M&A recruiting.
I’m trying to figure out the highest ROI option to maximize chances in London IB when I arrive at Bayes.
Additional context:
- US + GCC Citizen
- Will be ~30 by the time I finish the Masters
- Single, no dependents
- Background in finance (Johnson & Johnson FLDP)
- Main concern: What is the optimal path for me to take now to improve my chances on graduation?
Would appreciate blunt advice from anyone who has gone through London recruiting or moved from TS/boutiques into IB.
Will #1 let you do a three month internship? I think getting M&A on your resume goes a long way, and then aggressively recruit with that resume to try to land something else for the summer. 6-9 months is an insane amount of time to go unpaid.
I don't think a short stint in TAS or FP&A will make much of a difference, especially if you already have corp fin on your resume
Agreed
So I cold-emailed a boutique (or micro boutique) M&A director and he was kind enough to meet for a quick chat. TLDR; I made the mistake of stating I'll commit 9 months before knowing if it's unpaid or not. In a subsequent email exchange I told him I'll commit 3-4 months with the possibility of extending, unsure if he'll take kindly to that change. Also, theres a possibility I'll get amazing experience since it's a tiny boutique, and a possibility itll just be origination work and reaching out with no deals done. its a really tiny boutique so I dont know the business as usual environment.
Being in my late late 20's, I do have comfortable savings/stocks etc. but going 9 months without a salary is a bit wild. But on the other hand, what would be the alternative? 3-4 months of unpaid M&A, then 4 months of a real FP&A job ( its easier to land), not disclosing I'm planning to leave, then leaving to start my University studies, does that seem sloppy? tough call.
Honestly once it's on your resume, 3 vs 6 vs 9 months is not very different as an intern.
I would aim to do 3 months at the boutique and then a summer at any smaller IB/PE shops to get a second and potentially slight better name on your resume.
You could also just keep recuiting, stay for a few months and see if you land any better opportunities, and then tell them - just be honest that you need to pay your bills and a paid opportunity came up for the summer. You don't owe them all that much, you are literally volunteering there for free
Thanks for the tip, that seems the most balanced approach.
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