Imperial MSc Finance Vs Big4 Transactions (Valuations)
Just received an offer for Imperial's MSc Finance having already accepted an offer within a Big4 valuations team.
Having looked at the latter, there appears to be some exit into IB - interned at a MM firm so IB is the ultimate goal.
Naturally, Imperial appears to potentially be a more direct route, albeit a costly one.
Looking for opinions on what is best...
Cheers
2 years getting an ACA and then a decent chance to move (more decent if looking at an EB - LAZ/FAP), either via a CF team or direct vs. Rolling the dice completely for masters (I’ve seen many struggle to recruit post masters, with a good chunk getting big 4 offers and going that route anyway..)
Thanks for the response - I had noticed a fairly high Big4 placement rate at Imperial. Equally, gaining my Big4 offer coming from a fairly no-name university, would I be wrong to say that with Imperial on the top line of my CV, I would likely achieve better results this time round (Previously 3 offers; Big4 or similar).
At the end of the day going via Imperial is another shot at recruiting. Sorry to say (from my personal experience, which may not be universal) I don’t think a Masters massively enhances your chances (given your undergrad is the second line on your CV), but it could be worth a go. The big 4 ACA to BB / EB appears to be a well trodden path in London..
Definitely have a different view than other Comments here. Out of my experience+ of my friends a master in Europe (and for working in Europe) is definitely a big game changer. Some of my friends nearly started in no-name boutiques after bachelor, did their masters and landed BB(think GS,JPM,MS), EB, or UMM PE. You get the chance for additional internships, brands and grades if you weren't satisfied with your bachelor grades. Especially if you interned at a MM in your bachelor you can definitely expect to Land a BB internship while in your master. Also I think that even MM IB >>>> Big4 in any way.
Edit: I don’t know the placements for imperial but every single one of my peers that did their masters at LSE, Bocconi, HSG, HEC or frankfurt bs actually got the placement they wished for. Maybe my perception is biased through my friends but I m talking a group of prob 35+ ppl I got to know who did this exact route because their bachelor placement was shit
Thanks for the response - interesting to hear a different perspective! From your experience, and that of others, is internship > convert FT > FT the most common route? post-masters? Not grad roles?
Yea basically. Some people I know did like 3 internships in their masters(at most) and either converted (more unusual) or just applied for FT roles
Went to ICBS Did a MSc worked in EB IB before changing to BB S&T all London
If you do Big4 you can jump to IB (EB like laz very big on recruiting bug4) via 1) get your ACA then transition to CF team (highly unlikely you can enter directly as analyst 3 or associate 1 straight from valuation or audit etc) 2) transition to CF team now and lateral (at this point it’s more like youre upgrading rather than switching jobs completely since the CF teams basically do smaller deals)
If you do masters - apply for final year summer internships and convert (yes you can apply to literally all banks apart from CS who has a designated autumn final year IB internship) - also just reapply/delay your offer to Big4 if you got it once you’d get it again
Placement in masters - honestly not amazing but you will find enough people to network with and generally you can network with people outside your school - the U.K. IB market is more focused on just going through the structural process of applications rather than networking (although always helps and is recommended) - find people across the finance masters (I.e. not just MSc Finance) who are keen to do well and get these jobs (shockingly a fair number of people are just chilling) and prepare together - ICBS is still considered Imeprial whether people think ICBS is the lesser version of Imperial so carries weight
So really it’s down to costs but there’s no guarantee on either route for a sure win into IB but if money wasn’t a factor I’d do the masters and get through summer internship (places like CVP basically don’t recruit FT grad analysts so apply for summer at places these and give yourself another chance)
Also dont overlooked MMs and also apply to them - people tend to overestimate how one internship will guarantee an interview or something in CV screening and honestly it’s 30-50% luck so play the numbers game too
Thanks for the response!
On the Big4 route,1) is more likely. I've done some digging on switching to a CF team and I was basically told I'd need to drop out and re-apply - unsure if this would change 6+ months into the job, however.
As you say, I'm also exploring the possibility of deferring my Big4 offer, although this doesn't offer much security financially as paying back 39k on what is an audit salary isn't the easiest.
Imperial claims to have a 36% placement rate into IB which tbh is the best odds I've ever had by a mile - but irregardless, how do you think my chances for a summer fair with Imperial, National MM Internship, solid 1:1 academics, strong sporting background & a no-name undergrad? Better or worse than what Imperial is claiming? Appreciate this is completely ballpark, but input is always appreciated!
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