I was accepted for a Spring internship for a large financial institution (my country's second largest bank). Could I use this experience for IB? I am also finishing my MSc Finance in one year, so I could leverage that to get into IB.
Also, would say that this internship is really in Corporate Strategy?
I will conduct market research, create benchmarks for my Group and its subsidiaries, do some valuation work, work on implementing a new product offering and strategies, research profitable investment strategies, as well contribute to some ad hoc analysis for the subsidiaries of the Group. Is this typical Corporate Strategy work? I will possibly work under a chief analyst and a Group executive.
I think so - Corporate Development and Corporate Strategy department operate in the same department I believe, which are the in-house consultants and bankers
If you can get an M&A internship then go there, if this is your best offer than take it. You can spin it around to make it look like you learned something which can be applied to IBD.
If you get into corporate strategy, why would you go into IBD?
I would be inclined to agree with this sentiment. OP, yes, this internship would look good for IB, but I'm not sure why you'd want IB aftee interning in what is essentially an IB exit op.
I think it would be easier to get into PE in the end (if I don't want to work with Corp Strat in the end) if you have some valuation and deal experience from IB. My end goals would be Corp Development or PE, but they usually require MBA/MBB/IB experience from what I have read about on WSO.
I think you would have a shot at corp dev, but PE might be out of the picture if you started your career off in corporate strategy. Definitely keep an open mind in this internship. Who knows...you might decide this is where you want to be in the end rather than on a path to PE.
How common is it to switch industries while you're in Corp Strategy/Development? Let's say I start at corp dev/strat in financials, and 5 years later I want to switch to Corp strat/dev in technology. Is that possible?
I am not sure, so the following is just my opinion. You should speak with others who have more experience in order to get a real answer.
At the junior level, it should be relatively easy to move between industries because your skillset is very transferable. Modeling might be different at a bank than it is at a tech company, but the overall concepts are the same, as are being proficient at PowerPoint, having a strong work ethic, etc. At the senior level, I would imagine that it is fairly difficult if not downright impossible. Senior corp dev executives are paid for their industry knowledge first and foremost. If you have spent a decade in doing corp dev at a bank, why would a tech company hire you? Your network and your industry knowledge would not be transferable.
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