Full-time IB offer vs. potential WM break-through
Currently doing an internship within the IBD of a mid-sized European bank (top #3 in the country), got offered to extend my internship and an offer to come back full time next year. Really enjoyed the work, so far do not mind the hours so much and the team is great; however it is a regional bank and the mobility opportunities are zero + the deals are not the most exciting. Got a summer internship offer for a big international WM player (UHNW division) in Geneva after a very long process; company is international, pay is amazing (since it's in Switzerland) and it is almost a given that I will be offered a permanent after the internship, which I could choose to do in Switzerland or London. I loved the people I met in the interviews, much more interesting, well-rounded, attentive and intelligent than those I am using to working with at the moment - just felt liked I clicked with them in a very natural way, while in IB I always have the impression that I am faking that I actually care that much about M&A (I mean I like the job but it's not remotely my life's passion). But the WM internship overlaps with the current IB one, so in order to pursue it I will have to terminate earlier (which I believe will jeopardize my full-time offer).
I have a very solid academic background (~9.0/10 GPA) so had quite some success in receiving offers so far. I love the prestige of IB but to be quite honest I hate modelling and it does not come naturally to me at all, although I have been complimented on my work quite a few times. I just don't like doing it. Love the relationship side of things and client-facing moments - my favorite part of banking so far - which makes me think WM would be a better fit for me. I invest myself and genuinely love reading on the markets so it's something I would be happy to work with. But in the long run I still want the prestige + nice pay of IB... I am also extremely energetic and thrive on pressure so would hate to work on something repetitive/that does not require me to push through my full potential.
Not too sure on what to do: jeopardize my current IB offer (no intl perspective, mid-sized bank) for a potential WM career (bigger player, lots of mobility - specially to London which is a huge plus to me) or stay at IB for now and let go of WM as a junior?
The time spent in IB is a 'stamp of approval' on your resume and provides many exit opportunities down the line. It's probably 90% of the reason most people even do IB even though they hate the lifestyle. If you want a WM career in the future, IB will open those doors for you. It's kind of like engineering/business: an engineer can work in IB, but an IB can't work in engineering. Basically, once you leave IB, you're not going to be able to go back if you find yourself needing a stronger background to exit into something else if you discover you don't like WM. That being said, if you think you see yourself in WM for the long term and can't stand IB, skip it.
I disagree. The exit opportunities of IB are overstated (unless you want to do PE) and the "stamp of approval" doesn't really happen unless you were at a top bulge bracket. For example, a top WM or AM shop is usually going to hire someone with WM or AM experience over someone who did IB.
If OP prefers the experience of WM in addition to the location, he should take it. Life is short and in IB you're trading time for money.
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