Hi guys,
I am going to graduate from one of the Big 10 schools. It is hard to get into banking from a public school, especially in this economy. Therefore, I am going to do Big 4 for 2 years and trying into break into banking afterwards. I wonder if any of you have any pearls of wisdom to share regarding TS in KPMG vs. ERS Deloitte vs. EY FSO BAP and who has the best client base and which position can best position myself to break into banking in the future. Thanks.
ERS in deloitte is internal controls testing. nothing related to finance at all. I think TS in KPMG would give you the best shot.
would think TS or BAP for sure.
Is going to a big 10 public school really making it that difficult to break into banking?
if you go to a top 10 public school i don't think you should have a hard time finding good MM/boutiques to work for. I'd try hitting some up dude. I'd take a no-name over big 4.
You have an impressive background. If you would've reached out to the top MM banks over the summer I think you should have atleast had a few first round interviews. 3.9 gpa with triple major s fucking impressive. I would reach out to any smaller lesser known MM/boutique firms in your area, If that doesn't work try anywhere in the U.S. I would take even a 10 man M&A shop over big 4, you will learn more.
If you go Big 4, only consider PwC or Deloitte. The other two firms are much smaller and don't carry the Same weight.
I heard KP is big in M&A in Canada, but I am probably wrong...
I don't know what BAP is but TS definitely over ERS (which has nothing to do with finance at all). Some poster above suggested to only consider PwC and Deloitte - but honestly, IBs view all Big 4 more or less the same... What matters is the context of your experience and TS at KPMG is much more relevant than some risk job.
Pikachu is right - you have a good background, if you really network you should be able to get at least a first round interview with a MM somewhere. Get someone (a friend or ask a WSOer) to run a CapIQ search on names of firms in your area or regions you're open to going to... or do a search on WSO (someone had posted a list of both big and small banks - some with general contact info - on the forum).
As for advice on approach - when you say you've 'networked like crazy' - what do you mean? Describe what you've done and people here can tell you want you've done right and what you need to work on. In general, you should try friends, family, friends of friends, professors that have connections, alumni (try and get a database, or try linkedin) and cold-calling. And in your spare time, pick up a training program like BIWS and practice so you are prepared if someone asks you tech questions randomly (to gauge your genuine interest) and be able to answer 'why me - over other candidates' and 'why banking' and 'why XYZ firm'.
Thanks for your advice. I really appreciate it. I have got several first/second rounds. But none of them are with BB. I have been networking with over 30 alumni and have been traveling to NYC every single weekend. But the fact is that I did my internship in one of the Big 4 but didn't do one in IB. Plus the market is bad and I feel no one is hiring (at least in their IBD). I have several friends who interned at GS or MS but didnt get return offers.
Did you intern at a BB or TS by any chance? Your comments really helped.
No, did not intern at a BB or TS. But I've seen enough examples of people who move from TS to banking and have read about it online. That said, I'm in Canada, where it's not as uncommon for Big 4 to lateral to IB (obviously, this doesn't happen regularly - only when there are occasional spots that open up).
Still - you're better off trying to get into a smaller boutique than Big 4 if you plan to look within the US. If you were looking globally (re: Europe and Asia), a small boutique may not be well understood compared to a large Big 4 name. But in US, context matters a lot more.
be yourself
^LOL.
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