Big4 Rx FT or Off-cycle at EB? (London / UK )
I'm interested in Rx and I have a FT offer which I'm due to start at a Big4 Rx this Sep.
I made it to the final stages of a BB and an EB as a non-target this past year for FT roles despite only having Big4 experience, but never got any offers
If the oppurtunity arises to take an off-cycle internship (either through OC recruiting or cold emailing) this year/start of next year at an EB and try and convert it to a FT offer for next year instead of taking my current Big4 FT offer for this Sep - would that be wise or am I just getting too greedy?
I know its not impossible to lateral after 3 years and probably the safer move, but I was hoping to land a banking offer now and exiting by then
Also what should my plan B be if I take an Off-Cycle and dont get a return offer, apply for another OC internship?
Thanks in advance
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Thanks for reply
I dont think I would 'hate' being in Big4 if I don't get in via lateral, end of the day it's a very similar role just in a diff league
You career is not a sprint, take the Big4 offer, you are in a corporate finance role and keep recruiting for IB jobs. Try to be one of the people that does their ACA in less than 2 years (I know KPMG allows you to do this) so you can exit to IB ASAP with you ACA. One guy in my team spend 1.5 years in Big4 Rx before moving to my team and he gets good looks from Headhunters should he want to exit banking.
Thanks for the reply, I've actually got your long ass post bookmarked which I've read several times haha
yeah I think you're right, it defos isn't a sprint and I am still very young, even if i do lateral I'll still be young
I opted against the fast track ACA route cos i thought more deal experience would be viewed better for making a quick lateral like your colleague did?
You don't even work on anything for 1 year straight if you do the fast track - so why would they hire you as a lateral, is my thoughts?
Or do you need your ACA before even thinking about lateraling?
Thanks again
Big 4 Rx and OC internships are both legitimate routes into IB. The question isn't which one is the best path, the question is who are you. Are you the guy who seizes the OC and goes flat out for IB or are you the kid who banks a safe job in big four and try's to build up to IB from there. Both have risks of failure and potential rewards. Which guy are you?
Well, what do you want to do long-term?
I don't know what Big 4 RX is worth but generally Big 4 branding will make interviewing at brand name buyside shops an uphill battle. If you're a star though, I believe you can transition to BBs/EBs at the Associate level.
How good are these BB/EBs? All in all, I would take one of them if you had an offer, and while working there, recruit FT for other BBs and EBs as well (if you have an offer, you can also leverage that to stay at your current firm). Early stage branding matters. People have limited attention so if you can make the hiring decision easier for them (coming from a top shop), they'll give you a shot. That's why people go to Oxford and intern at Goldman Sachs and McKinsey.
One thing to consider (inferring from my Big 4s exp in continental Europe) is that hours and pay will be significantly lower at Big 4s, so if you're committed to banking, don't have a heavy student debt and want a better lifestyle during your analyst stint, that could be a move too.
Thanks for the reply
and while working there, recruit FT for other BBs and EBs as well (if you have an offer, you can also leverage that to stay at your current firm). "
Yeah that's what I wanted to do originally, but alot of folk have said to me, focus on the internship and get a return offer
and realistically how easy is it to take days off as an OC intern to interview for other firm is my biggest concern, if i call in sick im sure they're not idiots
but I guess thats the wrong mindset to have and you're right, that landing another FT offer and using that would be best way to secure one at the current firm
Your focus should definitely be on converting the OC onto a FT offer, but realistically it would also be quite stupid on your part not to hedge yourself and apply to other firms. You don't need to take a day off for recruiting, if you're in the City, you just need to take an hour or so off and 2-3h for superdays. It's not the end of the world, especially if you interview early in the morning (some banks like Rothschild let you choose your interview slots on an online platform so if you're quick you can pick and choose the most convenient). Just make sure to go through all the video interviewing and online teste before you start so it doesn't affect your performance
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