Best summer internship before consulting?
I currently have two offers, and I'm waiting to hear back from final rounds at two other firms (one is IB at BB firm, another is boutique consulting firm). The two I currently have are:
(1) Global Transactions Banking/Services at BB bank
(2) Finance Analyst role at tech firm (Apple/Google/Microsoft)
My goal is to get into MBB for FT. I know my choices are pretty scattered, but I honestly just want any type of position where I can do advisory, client-facing work and work on business strategy. Any thoughts?
Hey monkeybusiness_,
Here is how I would "rank" the different internships with some pros and cons. Do take it with a grain of salt; I have less than a year experience at my current firm (MBB). On top of that, your target location can have an influence on what internship might be better than others, e.g. having a tech background can be an advantage if you're going for SF, likewise with energy in Texas, mining and FS in South Africa, pharma and FS in Switzerland, etc.
IB: Great name on your CV, shows that you can work long hours, hopefully some client-facing work. The only bad thing that you come out of it is if you hate it and perform poorly. From a very personal point of view, I probably wouldn't thrive in IB, which might not be great for my personal development.
Boutique consulting: Arguably as good as IB assuming it's more strategy consulting than operations or implementation and offers you client-facing opportunities. Having already worked in consulting shows that you like the work and can stand the hours. It can, of course, depend on the quality of the boutique, but if it's a decent one it will look good on your CV.
3-4. FA at a major tech firm: It really depends on what sort of financial analysis you would be doing. If you're stuck in accounting, I would avoid it. If it offers you some exposure to strategy, be it M&A or project finance, I would consider it seriously. Tech is becoming increasingly good to have on one's CV, and, as mentioned before, this is especially good if you're eyeing a position in a tech-heavy region. It is also a good option if you have opportunities to take on additional responsibilities within the firm.
3-4. GTB/S: A BB name on your resume is great, but the work will not be as highly regarded as IB. Hopefully you can get some client-facing opportunities and be able to get involved beyond operational work. If you're hoping to work with FS clients, then I could see it above tech.
Bottom line is, all the positions give you arguments that you can use during an interview to show how good your analytical skills, etc. are. Fingers crossed for the last two interview results.
Ruhm -
Thanks for your input! Just to update, I ended up getting the IBD offer and committing so everything worked out in the end. :)
Nice to hear, congrats! Enjoy the summer :)
Career Advice: Which summer internship to take for best chance at strategy consulting grad job? (Originally Posted: 05/06/2017)
I am currently studying an Economics degree at a mid-tier, non-target UK university and have three summer internship offers:
*PwC: Management Consulting - not the Strategy& part - just normal management consulting (Salary: £20.8k pro rata) *Barclays: Tech - Wealth Onboarding (£52k pro rata) *BlackRock: BlackRock Solutions, Client Businesses, Retail (£38k pro rata)
Upon graduation in June 2018, I would ideally like to join a strategy consulting firm in London, preferably McKinsey, Bain, BCG or Oliver Wyman. Which internship, do you think, would give put me in the best position to get into the interview room at one of these firms?
Or, because these internships would most likely lead to grad offers, which one should I take with the intention of joining them after graduation, with the long term goal of moving into strategy consulting after a few years (maybe after an MBA at a target school)?
I have provided some background info below:
One year placement in a prestigious UK government department (£24.3k) Ideally would like a bit of cash for final year but not essential as clearly this is a long term decision I have to make a decision by Thursday 11 May
Thanks for your advice,
Mark
Can you provide more information regarding the Barclays and BlackRock internships, especially with respect to the responsibilities you would have/work you would do?
I'm a BA at a MBB and I think that this is a no brainer. PwC Management Consulting would put you in the best position to receive interviews from consulting firms. This demonstrates two important things that we look for in a candidate: strong interest in consulting and relevant experience. I can't really think of a better experience to prepare yourself for consulting recruiting than actual consulting experience with a legit place like PwC.
Soph Summer Internship for MBB (Originally Posted: 04/13/2013)
Hey guys, I'm a sophomore at a target, 3.8+ and am interested in consulting. Right now I'm doing a PE internship this semester at school but want to align myself for hopefully a MBB internship next year. What summer internships (aside from consulting internships) would make me more competitive for next year? I did business dev freshman year for a startup and I got a business dev offer at NYMEX for this summer, should I take the offer or could I get something better?
Not sure how to answer your question aside from "it depends". However, one thing you can do is to email your Mck, Bain, BCG contacts, and ask them the same question (hopefully over the phone). This will allow you to express interest as well as give you a chance to connect with MBB folks. Not sure what the standard is where you are, but it seems right now that you have had some really interesting experiences. Leverage that fact to stand out.
Honestly you seem to be doing quite well already. In terms of having the credentials to land the interview, you're already in a very good spot. NYMEX spot seems solid, do it if it's what you're interested in, look for something else if it's not.
Need perspective on junior year internship for consulting FT (Originally Posted: 10/18/2017)
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