Big 4 Audit internship, Full-time Investment Banking question

Hello all,

Here is my question: is an IB internship required before going full-time?

In a year I will graduate with a masters in accounting from McCombs and will have done two accounting internships (Audit with PwC and corporate accounting with the Federal Reserve). I am looking to do tech M&A in San Francisco and was wondering if I will likely have to intern as opposed to going full time in banking, or if people go full time with accounting experience as opposed to banking.

Any help is much appreciated

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Comments (18)

Dec 24, 2016 - 5:22am

How to go from Big4 Audit Internship to full time IB Analyst? (Originally Posted: 04/10/2015)

Hi WSO,

I'm a junior at a target studying accounting and finance. This summer I'll be doing audit at PwC in Boston since I missed out on the IB internships. I had a few interviews with both BB and MM banks but didn't get any offers. I'm planning on applying for full time IB jobs come the fall when the banks are back on campus and am wondering if there is anything in particular to stand out since Big4 Audit won't "wow" any IB recruiters. I have a 3.6 GPA and I thought the interviews I had went very well, just that my school is very competitive for IB and there are obviously a very limited number of spots available. Any advice would be greatly appreciated. Thanks.

Dec 24, 2016 - 5:24am

Congrats on the internship! Not sure how the audit programs are run but try to do as much as possible with your team while networking for IB throughout the internship. Keep in contact with those who interviewed you and keep stating your interest in the industry.

For the lead! Sipag, tiyaga, at lakas ng loob!
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Best Response
Dec 24, 2016 - 5:25am

Leave off Big4 Audit internship for IBD Recruiting? (Originally Posted: 02/07/2012)

Hey guys!

Love this page. I have been reading WSO for a couple of months now and tried to absorb as much information as I could. But now, I decided to sign up for WSO due to the following question:

Background info:
- Intern in Corporate Banking (MM Bank)
- Intern in Audit Financial Services (Big4)
- Upcoming internship in Transaction Advisory Services (Big4)
- I'm from Europe, if that matters..

After this internship, I want to apply for IBD internships. Therefore, I wanted to know, if it would be better to leave the Big 4 Audit FS internship off my resume.
Why? I'm a little bit concerned that I have too much Big 4 experience on my resume and recruiters might think that I am more interested in working at the Big4 (although I really want to get into Banking!)

Thanks for your help, I really appreciate it!

Dec 24, 2016 - 5:26am

Don't leave it off your resume if that leaves you with a summer unaccounted for.

I understand your point, but I wouldn't take it off - I would just twist the facts here and there and make it look like you interned in the audit dept. but wound up working on a project that was more TS related and that you really liked it and got to work with that group a lot, thus the reason you came back and did a TS internship.

Hmm......

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Dec 24, 2016 - 5:35am

Dude, here is what i would do: go to linkedin, go to the target company profiles. then see where most of the employees come from.
I did this for PE and i discovered that actually lots of ppl come either from e&y or from pwc.

I was already so far beyond the point of no return that I couldn't remember what it had looked like when I had passed it.
Dec 24, 2016 - 5:36am

Definitely leave it on. When I interviewed at GS IBD last month one of my interviewers (2nd year associate) came from 7 years at PwC advisory. A lot of people go from Big4 to ibanking, and even more go into the general banking industry. Does Big4 look better than a BB/MM internship? No. Does it look a hell of a lot better than most other internships? Definitely.

Edit: also, I agree with one of the above posters who said tailor your resume description of the job to finance. In transaction services you're definitely going to learn a lot that is relevant to banking - emphasize that on your resume and leave out the irrelevant stuff.

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