Should I stay in IB?
I have been doing my IB internship for a few weeks already and I have to say that even though i have not slept well I really enjoy working. I would have to start this by saying that my final goal is to end up in IB. I am really not sure on what to do. I still have a bit left from my IB internship but I think in theory after speaking with a few analysts and an associate that I could ask for an extension on my internship and in theory get an opportunity to to work for longer. But I also have an opportunity to work at a firm in big 4 in valuation. I am not sure which one I should go with. IB would ofc be an obvious answer if I were at some very prestigious firm but in reality im at like lower MM to ~MM. big 4 obviously is somewhat prestigious in the sense that everyone knows about them everywhere and it could look good on my CV. Plus the bank I am at is somewhat international but obviously nowhere near big 4. What should I go with?
Based on the most helpful WSO content, here's what you need to consider:
Your Long-Term Goal is IB: Since your ultimate goal is to stay in investment banking, continuing with your current IB internship and potentially extending it is the most logical choice. Even if your current firm is lower MM or MM, the experience you gain in IB is directly aligned with your career aspirations. Big 4 valuation, while prestigious, is generally seen as a stepping stone to IB rather than a direct path.
Big 4 Valuation as a Backup: Big 4 valuation can be a solid option if you don’t secure a full-time IB offer. It’s respected and provides valuable skills, particularly in valuation and transaction advisory, which are transferable to IB. However, it’s worth noting that transitioning from Big 4 to IB often requires additional effort, such as networking and possibly lateral moves.
Prestige vs. Relevance: While Big 4 firms are globally recognized, the relevance of your experience matters more for IB. Even at a lower MM or MM bank, you’re gaining direct IB experience, which is more valuable for your resume if you aim to stay in the industry.
Networking and Exit Opportunities: Staying in IB, even at a smaller firm, allows you to build relationships within the industry and positions you for lateral moves to larger banks or better opportunities. Big 4 valuation, on the other hand, might limit your exposure to the IB network.
Work-Life Balance and Personal Fit: You mentioned enjoying the work despite the lack of sleep. This suggests you’re adapting well to the demands of IB, which is a good sign for your long-term fit in the industry. Big 4 valuation might offer slightly better work-life balance, but it’s not as directly aligned with your goals.
Recommendation:
If your current IB internship offers the possibility of an extension and you’re enjoying the work, prioritize staying in IB. The experience is more relevant to your long-term goals, and even at a lower MM or MM bank, it positions you better for future opportunities in the industry. Big 4 valuation should be considered a backup option if IB doesn’t work out.
Sources: Q&A: Big Four Valuation Associate - Deciding Whether This Job Is Right For You, I'm so lost, Early IB Offer with exploding deadline - months before normal recruiting, The Forgotten IBD: Big 4 Corporate Finance - Q&A
If your long-term goal is IB, I’d strongly lean toward staying in the IB role.
Even if the platform isn’t top-tier, you’re already in the exact ecosystem you ultimately want to build a career in. That matters more than it feels like right now. Recruiting later on is heavily “path dependent” in IB, meaning once you’re already inside, moving to a better bank is much easier than trying to re-enter from a different line like Big 4 valuation.
Big 4 valuation is solid in its own lane, but it’s still a different track: more appraisal / advisory-style work, and less direct alignment with how IB analysts are trained and evaluated. It doesn’t usually give you an edge when competing against other IB analysts for lateral roles.
The key question is what you’ll actually learn in the next few months. If your IB internship is giving you real exposure to deals, modeling, and analysts you can learn from, even if the bank isn’t prestigious, that experience compounds fast. That is what gets you into a stronger seat later.
I’d only switch to Big 4 if your current IB role is basically non-learning (no deal exposure, no modeling, no responsibility). Otherwise, extending the IB internship is the cleaner path toward your stated goal.
Autem veniam ut eveniet commodi nobis voluptas. Nobis dicta nam enim qui non.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...