Which IB internship as the next step is realistic/most beneficial? (Career Switch/Profile assessment)
Hello Guys,
I'm currently planning to take a gap year before pursuing my Master's in Finance, during which I intend to close the gaps in my finance knowledge (such as CFA Level 1, FMVA certification, gaining international experience, etc.). I'd appreciate some advice on what internships in Investment Banking would be realistic and most beneficial as my next step, considering my profile (career switch) and future plans. I‘m aware I unfortunately don't have the strongest profile, but I‘m trying to make the best out of my career switch!
To briefly introduce myself: I completed 50% of my studies in Business Law at WU in Vienna (Austria) before having to switch to a "non-target" university due to COVID. I'm on track to complete my LL.B with a GPA between 2.0-2.3.( equivalent to a uk 2:1) have one year of experience working in a major law firm specializing in business law, a 2-month internship at a small local consulting firm, and a 2-month internship with a German venture capital/PE fund. Currently, I'm working in Financial Modeling within the Strategy & Transactions division at a Big 4 firm. I plan to take the GMAT this year and aim for a score of 700+ (based on practice tests). I'm also studying Law in parallel, but I'm not sure if I'll complete it as I'm much more interested in finance, and I'm enjoying my career switch so far!
Thank you very much in advance!
Bump :)
Finishing your degree should be one of your priorities, too much of an opportunity cost now… studied law and finance myself, it's seen very positively in high finance
Thank you for your reply 🙏🏼
Oh yeah, thats definitely prio #1, but until then I‘m just looking to gain a bit more of (international) finance experience, since I lack that a bit due to my career switch.
I asked some people from the Industry and they told me to try to gain international experience + strenghten my financial bond in that gap year, so I can maybe have a chance getting into a good (target) financer master.
So in general I‘m looking for the next realistic step I could take in gaining that (international) experience in finance.
For now all the relevant experience I could gain after my switch were small M&A consulting firm + small cap venture capital/ PE fund + Big 4 TAS (financial modeling).
What would you guys advice me as a next step? Is an internship in London realistic?
bump
Wtf is FMVA
The Financial Modeling and Valuation Analyst certificate from CFI.
Nothing too crazy, but actually pretty common in finance professions.
Its not the craziest CV boost, but I‘ll take everything I get to strenghten my Finance relation in my CV, after the switch.
Just to show interest
Mate please don’t take this useless qualification. No one will care for it trust me. Focus on GMAT and actually learning modelling if you so like. This qualification will add 0 to a CV and I bet no one would’ve heard of it before
Thanks appreciate the advice mate!
Then ill dump it! I just thought ill do everything I could, at this point to add finance to my CV. But obviously I would focus on GMAT, work experience etc.
Im just a bit lost in that field. It seemed a bit easier in law. You didnt have so many „rules“ and steps to take to get into your desired firm.😅
No worries. I’ve read your post again and a few things.
Your profile is not weak at all. The experience you have will be seen as valuable, especially the Big 4 modelling team (have seen multiple guys make this switch to IB). Critical to your situation is a genuine “Why IB” answer, which shouldn’t be hard to fathom.
Otherwise what’ll help you now is mastering the recruiting progress. I assume you’re looking in London? Check the university internship opening trackers and make you’re you’re on it. Good ones I’ve seen in the past are LSE and Bristol. Make sure too to have your own application tracker. Don’t be snobby about what firm you apply to either.
Networking can help to. Speak to a few bankers. Learn what it’s all about. Don’t need to ask a referral but approach it to genuinely learn. Look at what your university offers by way of banking career advice. Maybe best look for finance clubs here instead of your careers service. WhatsApp chats for applications can be invaluable too.
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