Leave Banking Offer on the table for MBB?
Hi all,
Just completed a sophomore summer at a BB and have an offer to return as an IBD summer analyst. I really loved it there, and could definitely see myself working there FT. However, I also want to consider consulting, and am interested in pursuing that path this summer.
Has anyone else done this, and if so... what are your thoughts? Will this essentially burn the bridges at the bank I'm at?
If you reject their offer it will. Try interning during the school year. It's pretty difficult to get a an internship at an MBB as well - a lot tougher than at a BB.
I would not do this unless you have a really strong shot at junior year MBB internship. MBB hire mostly in the fall of students' senior year not through their rising senior summer programs. There are consequently VERY VERY few summer spots in total and relative to FT spots for MBB.
Also MBB is far more likely to be understanding if you did banking as a rising senior than a bank is to see you did MBB after doing banking and now want to do banking FT.
Accept the banking offer for next summer if you really loved it. Explore MBB consulting during their information sessions in spring of your junior year. After you get a FT offer, shop it around in the fall of your senior year and interview with MBB.
This decision will be much easier when you have FT offers in hand. Sounds like you need to talk to more people in MBB.
Let me clarify a few things w/ the question-
I don't have an exploding offer, so I would not have to accept my IBD offer before getting a chance to interview elsewhere. I fully intend on trying to at least interview for MBB.
Also, concering MBB internships- I know they are very difficult to secure, but are my odds really that slim? I don't want to come off as arrogant, but does the fact that I worked at a BB as a sophomore not count for anything?
No, it doesn't. MBB doesn't place that much emphasis on experience, instead opting for more focus on your GPA, academics, leadership, and cases. It is quite possible that the BB internship indicated that you were good at all these factors, and if so then you have a great shot. However, the BB internship alone won't get you that far with MBB interviews. Not to say it won't help, but experience isn't the end-all-be-all in consulting as it is in banking.
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