MM ER internship to IBD SA (UK/HK)?
Hi I am currently a graduate doing an ER internship at a middle bank with some global presence, especially in Asia. While I found ER interesting and learned valuable skills on the way, I realised I wasn’t a markets guy and wanted to work with private information, instead of just following companies. I am doing a masters in finance and accounting at Imperial College Business School this year. I know I am quite late to the game but I was wondering if anyone can provide me with any insights into making this switch! My end goal is to work in the UK or Hong Kong.
Background: South Korean UK target/semi-target - First class honours in A&F 2 years of mandatory military service after graduation Experience in back office local investment & securities company and Current ER internship CFA level 1
Recruit for IDB in London your ER experience will be highly valued - most of the skills are transferable (ie modelling) and your deep industry knowledge should help you getting placed into a team. Recruit for the UK unless you speak Mandarin in which case go for HK. Plenty of Koreans in London - especially at Citi if I remember correctly - you surely could network a bit to improve your odds.
Thank you! Do you reckon I should take an additional year off to do extra year worth of internships? I am not completely sure if one front office finance internship would be enough for me to break into IBD.
Honestly breaking into IBD can be somewhat random - so the more experience you have the better but it's really up to you. An extra year worth of internships will for sure improve your prospects although some people break into IBD with just a one month finance internship (not even IBD) from target schools.
In regards to your chances you should 'diversify'. For some firms you will have to apply for FT, for others there are off-cycles available - if they exists I'd highly recommend to these (ie CS/JPM/BAML on top of my head) - these banks will in most cases not accept you application for summer (except BAML and some others?). Finally some banks don't have off-cycles but accept SA applications from finalists. Overall I'd recommend speaking to HRs to understand what is the best programme to apply to when they come to campus.
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