UK - IB VS FAANG
Going into my final year, and in a pretty unique situation. In my first year I did a SWE internship at FAANG. In my second year, I did an IB internship at a top BB/EB. I managed to secure a return offer for each for after I graduate. Whilst I have some personal pros and cons for each, I would like to weigh up other people’s opinion.
FAANG:
- Somewhat relaxed, looser deadlines, frequent WFH and generally less stress
- Awesome culture, particularly within my team where there is a mix of ‘nerdy’ and ‘normal’ people
IB:
- Pay considerably better (especially considering the comp differential between US and UK FAANG)
- More meaningful work
- Much more learning, albeit in a less technical field (and at the cost of hours lol)
My goals are to work with startups, either on the investment side (VC, or even better GE) or on the operational/founder side. My personal view is that product or domain knowledge far exceeds technical knowledge, so don’t really give too much credit to the programming part of SWE.
Seems to me going the finance route is better for growth investing, but going tech route is better for operational opportunities within startups, which can then lead to staying, founding, or moving to a VC seat.
Another consideration is how valuable an internship in the other sector is; i.e. FAANG + IB internship may still be pretty good for GE, despite missing out on those analyst years?
Anyone input, senior or junior, greatly appreciated.
We have a mix of ex IB people and tech folks, the former tech people know a lot more about the startups and the underlying capabilities.
Based on the most helpful WSO content, here's a detailed comparison of your options:
FAANG:
Investment Banking (IB):
Career Goals:
Additional Considerations:
Summary:
Your decision should align with your long-term career goals and personal preferences regarding work environment and stress levels.
Sources: If your SA internship is canceled, but you get FT offer, will you still recruit for "better" job?, Junior Year Summer - Will Tech Internship Hurt Me?, Growth Equity vs. Investment Banking for Undergrads - Thoughts?, How to deal with a recession career-wise? A few lessons learned during the previous GFC, https://www.wallstreetoasis.com/forum/venture-capital/internship-at-startup?customgpt=1
This is so ass. Literally what I said.
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