Hello chimps,
As the title suggests, I'm debating between a Big 4 Transfer Pricing internship and a lesser-known MM bank (think RBC, Scotiabank, CIBC, BDO, etc.) Capital Markets internship for the Summer of 2019. Ultimately, my goal is IBD and I am wondering which opportunity I could best leverage for Summer 2020 IBD internships. Appreciate the help.
Thanks.
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MM Cap Markets no question
Could you kindly elaborate as to why?
Big 4 transfer pricing vs MM Capital Markets. Want to work in IB (which is M&A and CapMarkets)
Read that sentence out loud as many times as you need to until you know the clear answer..
FYI, RBC and CIBC are definitely not "lesser known," with the former being a massive bank
I am aware that Capital Markets is IBD. However, what I failed to mention is that I have already committed to Big 4 TP (recruiting for 2019 was in the fall, wasn't able to land IBD) and the MM CM position is just now reaching out (despite the fact that I applied back in Nov). As such, I wanted to be sure that if I were to go through the stress of reneging I am making the right decision. By the way, it is one of the lesser-known banks from which I listed. Appreciate your feedback.
Ah okay.
That's a bit tricky. Would you be ok with working full time at this bank before lateraling? One thing your uni might do is ban you from recruiting for a certain amount of time if they find out you reneged (which they will if you got the gig from OCR).
That being said, in your shoes I would renege because MM Cap Markets is very leverageable and TP is not.
Edit: Another note, everyone I know/knew in TP over the last summer hated their lives and wanted to leave desperately. Something to consider as the work becomes repetitive and mundane.
How is this a question? Theres literally nothing worse than TP.
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