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April 30, 2024
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bro? this is a great offer with great pay. accept it lol
Yeah dude what is the issue here?? That’s an awesome role for a sophomore. Valuation advisory is a great place to build modeling skills which a lot of banks will see as valuable especially at your age. Definitely will be able to leverage that for an IB summer analyst position your junior year.
Apologize if I made it seem as if there was an issue. I've never worked in valuations before, so I had no idea what salary expectations were, and I want to make sure the offer is reasonable. I also don't hear of people going to the valuations department of an accounting firm all that often, so I wanted to know the trajectory for someone in that role. I was very pleased (and surprised) to receive this offer, and it is a big decision to commit to this position over a year in advance, so I figured a second opinion couldn't hurt.
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Messaged!
Absolutely! This is a fantastic offer, congratulations. I had a valuation internship at a non big 4 public accounting firm my junior summer and still networked into an upper MM bank from a non target. It’s extremely doable, will look great on your resume and that’s insane money for a pretty light summer in my experience. Enjoy it and save it! Use your extra time to study your technicals (seriously the earlier the better) and enjoy life bro
Thank you! I'd love to hear about your experience in this role and how it differs from an analyst role at an IB firm.
Sure! As a disclaimer, I'm an incoming FT IB analyst, so I'll provide my experience as a valuations intern on a Transaction Advisory team, and you should be able to find plenty descriptions of analyst work here on WSO. A lot of my role was helping the valuation team update valuation models and associated materials for clients (in my experience it was primarily PE firms) Q2 reports for their investors. This would include screening comparable companies/transactions, inputting new financials into the models, sitting on calls with fund managers and/or c suite of port cos and taking notes, updating PPTs, etc. I found it was a really interesting role that had a lot of relevant work experience for IB and the hours were fairly light, with I think only 2ish weeks where I was consistently staying past 6pm, which I was more than okay with to bank the overtime ($52/hour to update excel??? I used to work shitty summer jobs for $12 so this was insane to me). If I was you, I'd be more than happy to accept this role and not look back for a second. Feel free to PM with any additional questions!
This is great pay; my sophomore internship is with Bank of America and I'm making $25 an hour. Don't feel bad about not knowing, feel good that you're being proactive researching to get a good offer.
That said, don't think too much about compensation early on; banking is a VERY lucrative career. What you will earn during the internship is going to be a literal fraction of what you'll make after graduation. You're going to make at least $100k base salary first year out and your bonus is going to be at least $70k (and can go up to $90 to $100k). Unless you're having financial issues right now, forget about the pay and only think in terms of what will set you up for success later.
Good luck with the banking track! Consider related areas too, banking lifestyle is intense, even as an intern. My IB mentor slept with her phone volume all the way up next to her face so she would wake up when someone emailed her at 2:00AM (Morgan Stanley IB internship). I'm doing credit investment at another bulge bracket with much better hours and same base salary. Don't close doors too early, is what I'm saying. Just some thoughts, hope all goes well!
Thank you! That is my main concern; if a valuations role at an accounting firm would hinder my chances of breaking into IB next year. I know some people going the BoA route for sophomore summer, and I am not sure what route is the best for me. I applied for this role by accident and wasn't even looking for 2023 internships (thought it said 2022), but now I have to make a decision soon. It seems like the hours are much better than IB, though.
Valuations is actually a very good pipeline into banking; you develop a lot of the same/looking for skills, just that you're representing the buyer or seller instead of being the middleman. Tons of people use Valuations as a way of getting banking; bet on headhunters chasing after you. There are news articles about JP Morgan having a program specifically for Big 4 people who want banking and got certified for CPA. Only thing that could be better than a Valuations internship is an actual banking internship. Go through LinkedIn and you'll find hordes of people who made the jump. Your in a great place 👍
insanely good pay. take the offer. best of luck
First off, apply to the IB workshop so you can get access that network. How well you'll be able to place in 1 year (and being normal) is all that matters to them, and there is probably nobody else who has a prestigious client-facing sophomore summer. In terms of prestige, typical entry level finance goes IB -> consulting -> big 4 TAS.
No-brainer. Very impressive to get a full-time sophomore internship offer this early bar your parent being a partner.
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