Big 4 to IBD FT?
Currently a junior at semi target, 3.7, 2 boutique IB internships, 1 startup, and 1 BD internship
Just received a junior internship role at a Big 4 in capital markets accounting advisory in NYC after unsuccessfully recruiting for IB last year. It is an accounting role at its core, while working on IPOs, divestitures, spinoffs, etc. My end goal for college graduation is a full time offer in IB at MM/BB, and was wondering if it's possible to rerecruit from this practice? Interested in hearing anybody else's experience in making the change to IB from any other Big 4s on their deals/AAS teams.
Other offers I currently have include an alternative investments operations role and a finance rotation role at a stock brokerage, both paying significantly less in NYC. The roles I'll be playing at Big 4 seem relevant to a FT IB role but I don't want to be stuck in it if there are better options.
FYI CMAAS is technical accounting. You’re not really getting the hard skills that Valuation/FDD give. Personally I think the accounting background is incredibly helpful but not all will see it that way. Is a rotation between the Deals teams possible? With this year’s M&A outlook, the lateral market might pick up. Start networking and try to get your foot in the door
Thanks for the insight. I don't think a rotation is possible at the moment. Should I just take what I can get, and is it still possible to spin what I have into IB even without the technical skills I would gain in another group? Would the PwC name carry more merit than the other options I have, all compensation equal? I've done some modeling work in my past internships, if it helps.
Do not downplay the experience you have on your resume. You are very well accomplished and PwC CMAAS is an awesome group and you’ll learn a ton and pull $90k+ in your first year (would recommend getting your CPA if eligible). It’s important to put into perspective what you’ve accomplished and be proud of that.
If you do business combination accounting you’ll have very good insight into M&A process, just from a different perspective. Keep pushing your current contacts/reach out to new bankers. If things don’t pan out over the next 5-6 months, feel free to drop your username and we can connect.
Hey there, just remembered this post and wanted to reach out with my username in light of analyst recruiting season being in full swing. I had a great summer at PwC and have been networking with a couple MM banks, but I would greatly appreciate connecting with you since it seems like you have a good amount of knowledge about TAS -> IBD. Thanks a lot!
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