Should I take Valuations internship if High Finance is long-term goal?
Hey everyone,
I was offered a Business Valuation role at top middle-market accounting firm (BDO,RSM,GT)
After speaking with the interviewers (a senior and a director) the role is pretty much solely finance related: conduct market, industry, macro research, build DCFs, comps analysis, etc.
Honestly, as for the internship, I think pay is pretty fucking generous
internship is in NYC, so if I do get FT, that is an advantage i believe (costly, but from my understanding good network) (also Mamdani is gonna make the city as cheap as the Midwest ;)
Thoughts? Recruiting is almost over and I’m a junior. Would like to break into high finance, I have very diverse interests in Asset Management, Private Credit, Fixed Income Research, etc…
Based on the most helpful WSO content, taking a valuation internship at a top middle-market accounting firm like BDO, RSM, or GT can be a solid stepping stone if your long-term goal is high finance. Here's why:
Skill Development: The role involves building DCFs, comps analysis, and conducting market, industry, and macro research. These are highly transferable skills that are directly relevant to investment banking, private equity, and other high finance roles.
Resume Value: Having a valuation internship on your resume demonstrates technical expertise and hands-on experience with financial modeling and analysis, which are critical for breaking into high finance.
Networking Opportunities: Being in NYC provides access to a robust finance network. Even if the internship is costly, the networking potential in the city can outweigh the expenses, especially if you leverage it effectively.
Path to Full-Time Offers: If the internship leads to a full-time offer, it could serve as a strong launchpad for lateral moves into asset management, private credit, or other high finance areas. Many professionals in high finance start in valuation or similar roles before transitioning.
Recruiting Timeline: Since you're a junior and recruiting is almost over, securing this internship ensures you have a strong position for the summer, which is critical for full-time recruiting in your senior year.
In summary, this internship aligns well with your goals, especially given its finance-heavy nature and location in NYC. It’s a strategic move that can help you build the skills, network, and experience needed to break into high finance.
Sources: The Allure of Investment Banking, The Allure of Investment Banking, Dad's a partner at a PE shop how do I use it to network?, What offers would you take over a BB S&T?, NYC is Paradise
I’m assuming this is for junior year - if you don’t have IB offers, it’s one of the easiest rolls to transfer from. My BB took a few people from Deloitte valuation, for example.
Great opportunity if you didn’t get any IB offers
you can still try recruiting full time after your junior summer. absolutely take this opportunity, congrats.
I did my SA at hl/Lincoln valuations and agree this is one of the easiest entrance points.
Recruited FT and landed at an IB better than my own banks ib so can’t say it didn’t work out.
Saw analysts in my group go to GS/MS/JPM as well as well as EVR/PJT. Not as familiar w/ the firms you listed but at my firm they mostly considered hl/lincoln/kroll as competitors.
A key strength I highlighted was the amount of exposure I had during SA, where I saw and worked on 6 diff opinions. If you know them all well having them on resume can make you look as sharp as an ib sa. FT recruiting is mostly group specific so you usually can just prep the ones that are relevant to your interview. A thing my firm let me do was send myself the decks of all the deals I worked on to be able to study them for interviews.
And obviously it’s still very important to have RO so don’t go into the internship focusing on leaving. If you have any more qs lmk
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