Internship at EY or work at a commercial bank ??
Hello guys,
I have graduated from top university in my country (EU region) and recently received offers from Big4 (EY- junior accountant) and from a big commercial bank (anti-fraud department). They all have pros and cons but I have a hard time deciding what is best for my cv. I am interested in investment banking and consulting but most importantly I want to gain working experience in finance so that I look competitive for the admissions team at a top MBA program (particularly Ivy-league school). I really need your thoughts on this topic. Also what are your thoughts about JD/MBA?? is it worth it??
It depends. Being a part of EY will be helpful if you want to go for roles like IB, Corporate Banking...etc. Joining the Commercial Bank's middle office can give you a good WLB but less opportunities in your future career possibilities.
If you're interested in IB or Consulting, EY is the easy choice IMO. After a year or so, try to lateral to transaction advisory/M&A services, and that will be a pretty straight forward stepping stone to IB, PE, PC, etc. If that doesn't work, accounting -> MBA -> IB/PE/Consulting shouldn't be terribly difficult. Even accounting at a Big 4 straight to IB shouldn't be impossible.
Ah, the classic dilemma of choosing between the Big 4 and the banking sector! Both paths have their merits, especially when you're eyeing a future in investment banking or consulting and aiming for an Ivy-league MBA. Let's peel this banana and take a closer look:
EY - Junior Accountant: - Pros: - Prestige: EY is part of the Big 4, which is well-regarded globally and could shine on your CV. - Diverse Experience: You'll gain a broad understanding of accounting, which is fundamental in finance. - Networking Opportunities: Big 4 firms have extensive networks, which could be beneficial for future career moves. - Path to Consulting: EY, like other Big 4 firms, has a consulting branch, which could be a stepping stone for you.
Big Commercial Bank - Anti-Fraud Department: - Pros: - Relevance: Working in a bank could provide more relevant experience to the finance sector. - Insight into Banking Operations: Understanding the inner workings of a bank can be invaluable. - Specialized Skill Set: Anti-fraud is a niche area that could make you stand out.
As for the JD/MBA, it's a hefty combo that can open doors in corporate law, investment banking, and high-level strategic roles. However, it's a significant time and financial investment. Consider: - Career Goals: Does your dream job require a deep understanding of both business and law? - Opportunity Cost: Are you prepared to spend extra years studying instead of gaining work experience? - Financial Investment: Can you manage the tuition without crippling debt?
In the end, it's about aligning your choice with your long-term goals. Both offers have the potential to set you up for success in an MBA application, especially if you can demonstrate leadership, impact, and progression within your role.
Remember, it's not just the name of the company but what you do there that counts. Make sure to swing from the branches of opportunity and grab those bananas of experience that will make your MBA application stand out!
Sources: Big 4: Comparing Audit vs. Tax?, PWC Forensic Advisory vs Deloitte Risk Advisory vs EY Risk Advisory (HONG KONG) - Chances on getting into Management Consulting, Worth Attempting to Transfer from Semi-Target to Target?, Pros and Cons of internships abroad, EY vs. PwC vs. Accenture?
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