ok i'm from a top school in italy which was not top enough to land IB internships
currently evaluating internship offers from
- KPMG corporate finance - rome
- UniCredit derivatives sales (mid-small market, commercial banking role) - milan
- UniCredit Transaction services (mainly IPO or capital issuing - mid-small market, commercial banking role) - milan
KPMG wants a 3 months internship with good opportunity to land an offer quickly (initial offer was 6m but they shortened it)
UniCredit wants a 6m internship, same building with invesment banking department and slight chance of internal mobility
given that my goal is getting in an IB position at a bulge bracket in london or milan, what are the odds? which would be the best option?
Probably corporate finance since the corporate finance functions at the big 4 are equivalent to IBD (rankings among IB firms is a different story)
Disclaimer: I'm from the US
Commercial/Corporate Banking vs. Corp Finance (Originally Posted: 03/11/2013)
I'm currently thinking about other paths or perhaps backups to IB, just so I'm not so single minded, and two that come to mind are corporate finance and commercial or corporate banking.
From what I know, corporate banking with a BB can be similar to IB and pays similar in the early years as well. Commercial banking seems to be more middle-market and at the BB level can provide a great 2-3 year credit training program. This seems like it would be helpful if one wanted to get their MBA following the program. Does anyone know where most people go from these kinds of jobs, get MBAs, or if most of them stay within the industry?
As for corporate finance, from what I've seen/read, most of the entry level work deals with accounting, and I've heard that at many companies there are ceilings for people who come in out of undergrad and go right into corp finance- meaning an MBA would be necessary to really move up. Does anyone have anything to say about this? Would it depend on the size of the company? I know some of the really large firms can have great starting salaries although the long-term may not be so great.
Another question: One reason I'd consider corporate/commercial banking over corp finance is that the skill set I learn in the first 2-3 years seems like ti would be more valuable. Is that generally true, and wouldn't that allow for more opportunity later on for growth or advancement?
Any advice would be great, I'm just trying to learn as much as I can now while I have some options open to me.
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