Internship in London vs Continental Europe

Based on the most helpful WSO content, here are the insights regarding internships in London vs. Continental Europe:

1. Preference for London Experience:

   • Recruiters in London generally prefer candidates with experience in London, even if it's from less well-known banks. This is because the job market in London is more fluid, and salaries are benchmarked against New York, making it a competitive environment.

2. Disadvantage of Continental Europe Experience:

   • Experience in Continental Europe can be seen as less advantageous compared to London. The job market in London offers better career prospects in finance, and being in London can improve your network and visibility, which is crucial for career advancement.

3. Significance of the Disadvantage:

   • The disadvantage can be significant if your goal is to start your career in London. London is considered a safer solution for breaking into private equity and other high finance roles compared to Continental Europe.

4. Impact of the Bank’s Main Office Location:

   • If the bank’s main office is located in the country where you are interning, it might mitigate some of the disadvantages. However, the overall preference still leans towards having direct experience in London.

In summary, while experience in Continental Europe is valuable, having direct experience in London is generally more advantageous for starting a career in London, especially in the competitive finance sector.

Sources: International Student - Chance of getting an IBD internship in London?, IB not worth it (London vs Continental Europe), Advice for London applicants, Q&A: Vice President - European BB Investment Banking (Industrials), Q&A: MBB Manager Continental Europe