How difficult is it really to lateral from TAS to IB?
Hi everyone,
I'm graduating from a semi-target and will be starting in Big 4 TAS this fall, and my long term goal is to eventually break into investment banking.
Because of my fall start date, I have a decent amount of time between graduation and my start date, and I’m trying to figure out the best way to use it.
Right now I’m considering:
- Trying to land a summer internship in a relevant industry
- Spending the summer improving technicals/modeling
- Networking aggressively before starting FT
- Potentially beginning GMAT prep
For people who have gone TAS to IB, how realistic/common is that path actually? And for someone in my position, would a short-term internship move the needle meaningfully, or would time be better spent on technical prep/networking?
Appreciate any advice.
Breaking into investment banking (IB) from Big 4 TAS is a realistic and well-trodden path, but it does require strategic effort. Based on the most helpful WSO content, here’s what you need to know:
Realistic Path:
Transitioning from TAS to IB is feasible and fairly common, especially for those in Big 4 Corporate Finance (CF) or Transaction Services (TS). Many professionals have successfully made the move, particularly to middle-market (MM) or boutique investment banks. However, the transition often depends on your ability to demonstrate relevant skills, such as financial modeling, valuation, and deal experience.
Challenges:
Short-Term Internship:
A short-term internship in a relevant industry could help, but its impact may be limited compared to other efforts. If the internship provides exposure to financial modeling, valuation, or deal execution, it could strengthen your resume. However, networking and technical preparation are likely to yield more immediate results.
Best Use of Time Before Starting:
Key Advice:
In summary, the TAS-to-IB path is achievable but requires focused effort on networking, technical skills, and positioning yourself as a strong candidate. A short-term internship could help, but networking and technical prep should be your top priorities.
Sources: Q&A: Big 4 Audit to MM IB, Q&A: Big 4 Audit to MM IB, https://www.wallstreetoasis.com/forum/investment-banking/investment-banking-in-the-uk-an-overview?customgpt=1, Transitioning from tech to a serious finance job (yes, you read that right)
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