IB BB internship the best stepping stone to MBB FT?
Hey all, I'm new to WSO but I've done my due diligence and looked through the forums to see if anyone else had my specific question. Hoping you guys can help.
I'm currently a rising JUNIOR, and really want to land an MBB internship for full-time work. I'm wondering what to do during the summer as a rising SENIOR. I've seen people here recommend an IB BB internship as the best way (since it'll be a very solid brand name on your resume), but I really don't see myself in finance in my career.
Should I just suck it up and try to land an IB BB internship as a rising senior (I'm at a target school, so I'm hoping it won't be unimaginably difficult)? Or should I go for a T2 consulting internship? Or would that not be enough of a brand name for the FT process?
Note: I'm assuming I can't land an MBB internship (which would obviously be the ideal stepping stone) as a rising senior; I've heard the process for that is even harder than the FT process.
Thanks so much in advance!
I'd go for a T2 internship over a BB as it indicates a genuine interest in consulting, if you go BB > MBB one of the first questions you'll face is why consulting and not banking? I'm a little confused by rising junior / senior, are you going into your junior or senior year? If Junior year, why not look to secure a MBB internship or T2 internship this summer? I worked in a start-up set up by a former senior MBB consultant, he said internships in MBB are much harder to get than FT positions. Figures I saw before for London are 28% of consulting FT positions are filled by interns, while 70%+ for BB FT roles are filled by interns as they take much greater number of interns.
In the U.S., "rising junior" means I'll be going into junior year (school starts in September).
Depending on what target you go to, there might be more MBB internship positions going around than top BB IBD/S&T positions. At my school, GS/JPM/MS each took about half the number of people for front office roles as McKinsey and BCG did.
The internships I would recommend for MBB FT are T2 consulting, F500 or BB IBD. Anything with a brand name employer will help you get interviews for MBB FT.
To reiterate this point what the MBB Senior Consultant told me was all they'll look for in a resume is names they recognise, the work after that isn't that important. That said an IB BB will show you have strong work ethic but it may also call into question are you not pursuing it due to the long hours which MBB also faces.
Hmm okay this helps a lot guys, thank you. What firms would say constitute T2 consulting?
T2 consulting is OW, Deloitte, AT Kearney, LEK, Parthenon, Booz.& RB in certain markets.
Although they don't do as much strategy work Big 4 Consulting would also to be a good name to have on your resume when applying to MBB.
IBD Internship to Consulting Recruiting (Originally Posted: 07/05/2016)
I'm 5 weeks into my IBD SA internship and I know that full time banking is not for me. I was wondering what the best way to approach my final 5 weeks here would be so I can leverage my experience for consulting. I also come from a non-target state school that sends ~4 kids to MBB per year, so the odds are not exactly in my favor (but then again, we don't send many to IBD either).
Specifically, is it too soon to begin reaching out to alumni for informational interviews? Only one of MBB recruits on campus, although we have a presence with most other firms.
What kind of projects should I look to get staffed on?
How did interviewers ask about your IB internship? What points did they stress?
Any and all help is appreciated, I'm sure I forgot some questions to ask. Thanks.
I made this switch before. Feel free to PM me.
Applying to consulting with an IB SA internship for a junior year internship (Originally Posted: 10/09/2011)
I was wondering how I can express my genuine interest in consulting and not come off as someone interested in IB, but applying to consulting as a back up. I spent last summer working at a MM IB and enjoyed it, but lately I've become interested in consulting, with my interest in healthcare in particular. Is there a way to capitalize on the IB and provide an effective narrative for the transition?
It's a pretty common move, there were as many MBB interns as IB interns in my class. Did you work on healthcare deals? Just say that you liked the pace but wanted a greater understanding of the companies whose deals you were working on, or some shit like that. The IB will be good because it implies you're Excel-capable and have a good understanding of quant.
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