PE Secondary Advisory vs Model Internal Audit

Based on the most helpful WSO content, here's a detailed analysis of your two offers, focusing particularly on the PE Secondary Advisory offer:

Offer 1: Model Risk Internal Audit with a Top 4 UK Retail & Commercial Bank - Compensation and Benefits: £55k along with good benefits. This is a solid offer financially, especially considering the stability that comes with working for a large, established bank. - Visa Sponsorship: This is a significant advantage if you require a visa to work in the UK, as it provides job security and peace of mind regarding your legal status in the country. - Work Nature: Model Risk Internal Audit will likely involve a lot of compliance and risk management tasks. Given your background in external financial audit and credit risk modeling, this role would be a natural fit and could leverage your existing skills effectively.

Offer 2: PE Secondary Advisory Intern with a Micro Firm - Compensation: £24k pro-rata for a 3-month internship. This is considerably lower than the first offer, but typical for intern positions in smaller firms. - Job Structure: The role involves 50% deal execution and 50% sales, indicating a dynamic work environment with a variety of tasks. The expectation of weekend hours suggests a demanding role, which is common in the PE industry. - Remote Work Concerns: The predominantly remote work setup could be a red flag or simply a modern, flexible work arrangement. It's crucial to verify the legitimacy of the firm, perhaps by researching their past deals, reputation in the industry, or connecting with past employees. - Visa Sponsorship: Lack of visa sponsorship could be a significant drawback if you require a visa to stay in the UK. - Interview Process: The quick succession of interviews with high-level executives could indicate the firm's lean operations and decision-making speed, which is typical for smaller, agile companies.

Focus on PE Secondary Advisory Offer: Given your interest in capital markets and breaking into IB/PE, the PE Secondary Advisory role offers a more direct path into the industry, despite its initial lower compensation and lack of visa sponsorship. The experience in deal execution and sales within PE could be invaluable and provide a strong foundation for a career in investment banking or private equity, especially if you can convert the internship into a full-time role.

However, the decision should also consider long-term career goals, financial stability, and personal circumstances, especially regarding visa requirements. If the PE role's lack of visa sponsorship is a dealbreaker, the safer choice might be the internal audit position, which also offers a respectable career path with good compensation.

In conclusion, if breaking into PE is your ultimate goal and you can manage the short-term financial and visa uncertainties, the PE Secondary Advisory role could be the right choice. Otherwise, the internal audit position offers a more stable and immediate path, especially if you need visa sponsorship.

Sources: Q&A: From Big4 Audit -> Big4 Advisory -> MBA -> AM Portfolio Manager, PWC Forensic Advisory vs Deloitte Risk Advisory vs EY Risk Advisory (HONG KONG) - Chances on getting into Management Consulting, PJT Secondary Advisory Super Day (Modeling Test), Which Offer Should I Take? (Analyst at Valuation & Advisory Services VS. Capital Markets)