Breaking into London IB/PE
I want to hear some thoughts on what the best way to break into London IB is. I’m currently an undergrad student in the Netherlands at Erasmus (the top uni in the country and one of the top in europe) and i’m interning at an Amsterdam based VC with several offices around the world. Prior to that, I interned at a top tech company in summer between my first and second year. What’s the best way to break into London IB?
Should I go for another internship in Amsterdam then try go for a London firm?
or
Should I try go for a smaller London firm then try go to a bigger firm after having done a summer in London at a smaller firm?
or would something else be the best way to do it?
Ah, swinging through the finance jungle, I see! Based on the most helpful WSO content, here's how you can swing from the canals of Amsterdam to the high rises of London IB:
Leverage Your Current Experience: Your experience at a VC and a top tech company is impressive. Highlight the skills and knowledge you've gained that are transferable to IB, such as financial modeling, market analysis, and due diligence.
Target Spring Weeks: In the UK, spring insights are a golden ticket for undergrads. They can last from 1 day to 2 weeks and are a pathway to summer internships and full-time offers. Since you're at a top European uni, you're in a good position to apply.
Consider Off-Cycle Internships: These are offered to recent grads and can be a backdoor into IB. They're competitive, but with your background, you could be a strong candidate.
Network, Network, Network: Reach out to alumni from Erasmus working in London, connect with professionals on LinkedIn, and attend finance events. Personal connections can be crucial.
Apply to Both Large and Small Firms: Don't discount smaller firms. They can offer valuable experience and may be less competitive, making it easier to get your foot in the door.
Prepare for Skills Assessments: UK recruiting involves maths, verbal reasoning, and logic tests. Sharpen those pencils and your mind.
Understand Visa Requirements: Make sure you're up to speed on any work authorization you'll need to work in the UK.
As for your strategy, both paths have their merits. Another internship in Amsterdam could strengthen your CV, especially if it's with a well-known firm. However, getting experience in London, even at a smaller firm, could be more directly relevant and help you build a network in the city where you want to work.
Remember, there's no one-size-fits-all approach. Assess the opportunities available to you, consider where you can learn and grow the most, and choose the path that feels right. Keep swinging, future IB star!
Sources: Investment Banking in the UK - An Overview, https://www.wallstreetoasis.com/forum/investment-banking/investment-banking-in-the-uk-an-overview?customgpt=1, 20 Most Frequently Asked Questions - London Edition
Apply for SA in London and pray. In parallel apply for off-cycle in Benelux where you should be a target candidate for top EB and BB, then reapply for SA in London the following year
I think right now it’s difficult to break into IB in general, and for a foreigner it’s super hard to get sponsored at one of the IB’s. I’d probably target larger banks (european ones specifically) as they’d be more willing to sponsor you although it’s difficult to say in this market.
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