Lower MM IB or Big 4 Audit
Hello,
I am a rising junior at a non-target school. I have a good gpa and a decent resume. I want to do IB, but despite my networking efforts I have not been able to land any interviews or superdays with any large banks, and it seems that it is too late for anything like that at this point.
I have connections to a few lower MM shops in my region, which is the south. I believe I will be able to land in one of these shops if I want to. However, I would rather live in a bigger city out of college up north such as Chicago or NYC. Tired of living in the south.
At this point in my studies, I could still easily switch to accounting from finance and fairly easily land a role at a Big 4 firm in audit. My school is heavily recruited by all of these firms.
My question is which one would provide me with better exit opps? Which would provide the best possibilities of a lateral? I realize that a BB or EB bank would be better in every way, but alas choosing to go to the fun SEC school has its downsides.
Brutal honesty needed,
Thanks!
It’ll be a whole lot easier to from a smaller IB to a big bank than to go from big 4 to IB (most of those end up at MM IB or end up getting an MBA). Best bet is probably go to the smaller IB and lateral after a year or two
MM bank if you want to potentially work at a bigger bank or in an investing role.
Definitely the MM. I’d avoid the big 4 if you want to lateral. Good training and reputation at big 4, but not aligned with IB.
I am not aware of success stories going from big 4 to IB.
Its actually quite common in the middle market. Most lateral analysts go from Big4 Valuation to Middle Market firms. But also I don't think that in the long run it will affect the outcome too drastically. There are several MD's that started at Big4 advisory and ended up doing something at a large bank, but thats at the later stages of one's career when they can bring in deal flow.
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