Summer internship applications and work experience

Is there any general preference among investment banks for types/length of work experience? I go to a 'target' grad school in London and have thrice interned in the AM sector before (London and Beijing) but my last was in 2017 just after I had completed my BSc. Also, as an MSc applicant for summer internships (in London), will I be dealing with heightened expectations vis-a-vis undergrad applicants?

Thanks

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