KPMG Corporate Finance vs. Citigroup Back Office

BulgeBracket's picture
Rank: Baboon | 111

Hey guys

Which one of these internships would be better for my resume (as someone who is looking to get an IBD role in the future).

I know that KPMG CF (I think its called T&R there) is the obvious choice because its so similar, but I have heard that the dealflow there is quite low (compared to PwC etc.) and that Citi is good for networking through.

Thoughts?

Comments (32)

Nov 7, 2011
Nov 7, 2011

KPMG, hands down.

It doesn't matter if deal flow is spotty. At least the skills/type of work you'll be doing at KPMG (even if it's spreading comps, cash flow analysis etc) is relevant to IBD, whereas almost nothing from BO is. Networking is marginally better at Citi, but not enough to make up the discrepency between the two jobs.

Nov 7, 2011

KPMG - for this case, you need to give a lot more weight to the context of the role and the potential to gain relevant skill sets, and less weight on the firm name.

Nov 7, 2011

Great, thanks for the advice guys!

Nov 7, 2011

I think the answer is KPMG regardless over back office, but if you have the exact name of the group and the country in question people can give you more info. The Big 4 have a lot of different advisory groups that are peripherally related to corporate finance with alphabet soup names, plus they all have small-scale "boutique" "investment banks" that do mostly fairness opinions and a little M&A advisory.

Nov 7, 2011

I fukn hate accounting firms, but if its up against Citi....yeah KPMG it should be.

Nov 7, 2011

I don't think deal flow is even a legit concern.

Nov 7, 2011

KPMG Corporate Finance is actually quite strong, I believe the strongest of the Big 4. It's their MM investment banking group, which is actually an very active in the MM market space. I think I remember seeing KPMG being top 5 for # of deals below 500MM in the US (check dealogic, I forget the exact rankings).

Nov 7, 2011
needtodecide:

KPMG Corporate Finance is actually quite strong, I believe the strongest of the Big 4. It's their MM investment banking group, which is actually an very active in the MM market space. I think I remember seeing KPMG being top 5 for # of deals below 500MM in the US (check dealogic, I forget the exact rankings).

The reason the Big 4 corp fin groups appear high on these lists is because they do tons of fairness opinions for small transactions. They are not really the "advisers" on the deals for the most part.

Nov 7, 2011

kpmg hands down bro dont even ask such questions.

    • 1
Nov 7, 2011

If this was for FT it would be KPMG, but for an internship it could be a tossup.

Are you a junior? If not, then consider going with BO. You have a very good chance of networking into a FO role, provided that the rest of your resume is up to par.

Nov 7, 2011

KPMG Corporate Finance is not the same as T&R. T&R is Transactions & Restructuring, which is essentially their transaction services arm. I think it is one thing to get KPMG Corporate Finance but another to get T&R.

Nov 7, 2011
demoz:

KPMG Corporate Finance is not the same as T&R. T&R is Transactions & Restructuring, which is essentially their transaction services arm. I think it is one thing to get KPMG Corporate Finance but another to get T&R.

Yeah just looked it up there.

Corporate Finance and Transaction Services are groups within T&R.

I guess Ill have to mention that I made a mistake in saying Transaction Services, and that I actually meant T&R; with a view to working within CF.

Nov 8, 2011

I am at KPMG T&R and I m telling you at T&R is not CF!!! Did you get a position at CF at KPMG??

Nov 8, 2011

Demoz and JerryNY are both correct.

Also, if you do look at KPMG CF (not T&R) you still need to be careful as to which sub group you go to....

http://www.kpmgcorporatefinance.com/services/
The work that each of the groups do is quite different and they also have quite different cultures.

Cheers

Nov 9, 2011

What if (hypothetically) KPMG were only able to offer me a placement in audit? Would this position still do better for an IBD placement for a 2nd year college student than BO Citi?

Nov 9, 2011

if the position was for KPMG Audit, I would take Citi.

Nov 9, 2011

It was looking like it would be, my university made me take Citi, guess I'll be trying to leverage the BO to get IBD in my next internship (Jesus Christ)...

Nov 9, 2011

^What do you mean your university made you take Citi?

Nov 9, 2011
manbearpig:

^What do you mean your university made you take Citi?

Ya, I am a little confused by this as well. The only thing I can think of is maybe is university has some sort of feeder program with Citi.

Nevertheless, it sounds like he won't be getting paid if Citi can just get slave labor handed to them from the university.

Nov 9, 2011

The Citi BO role was through the university's career office, whilst I got the KPMG role myself via email.
The college has a policy whereby unless you inform them that you have signed a contract for an internship you sourced yourself, you MUST take the first firm which tells the career office that they want to hire you.

Good to see that they're looking out for the students rather than their institutional partnerships hahaha.

Nov 9, 2011
BulgeBracket:

The Citi BO role was through the university's career office, whilst I got the KPMG role myself via email.
The college has a policy whereby unless you inform them that you have signed a contract for an internship you sourced yourself, you MUST take the first firm which tells the career office that they want to hire you.

Good to see that they're looking out for the students rather than their institutional partnerships hahaha.

wtf college is this? That sounds like horseshit.

Did you sign something saying you agree to that?

Regardless, if it is for KPMG audit, then you are coming out on top.

Nov 9, 2011
Nefarious-:
BulgeBracket:

The Citi BO role was through the university's career office, whilst I got the KPMG role myself via email.
The college has a policy whereby unless you inform them that you have signed a contract for an internship you sourced yourself, you MUST take the first firm which tells the career office that they want to hire you.

Good to see that they're looking out for the students rather than their institutional partnerships hahaha.

wtf college is this? That sounds like horseshit.

Did you sign something saying you agree to that?

Regardless, if it is for KPMG audit, then you are coming out on top.

Its total horseshit, even if this position is better than KPMG, I wont have a chance to progress or accept offers for other applications I've spent a lot of time making for the last three months.

I didnt sign anything to that effect, but it isnt a Summer internship; its a placement during the semester required to pass the college year so unfortunately you have to listen to the cunts.

Nov 9, 2011
BulgeBracket:

The Citi BO role was through the university's career office, whilst I got the KPMG role myself via email.
The college has a policy whereby unless you inform them that you have signed a contract for an internship you sourced yourself, you MUST take the first firm which tells the career office that they want to hire you.

Good to see that they're looking out for the students rather than their institutional partnerships hahaha.

Wow. Fuck them and burn that bridge if you have to. My career services office did not help me nearly as much as I helped myself, and I was at a target.

Nov 9, 2011
prospie:
BulgeBracket:

The Citi BO role was through the university's career office, whilst I got the KPMG role myself via email.
The college has a policy whereby unless you inform them that you have signed a contract for an internship you sourced yourself, you MUST take the first firm which tells the career office that they want to hire you.

Good to see that they're looking out for the students rather than their institutional partnerships hahaha.

Sounds like you already know this, but my answer is - then fuck them and burn that bridge if you have to. My career services office did not help me nearly as much as I helped myself, and I was at a target.

I didn't even make an attempt to use my career services and I am more than fine. I don't need some dip-shit trying to tell me how to land a job when he is working in fucking career services at a university.

Nov 10, 2011

What about Citi BO v.s. Scotiabank FO Trading Desk for future IBD opportunities?

I would also say S&T opportunities but Im doing a degree in Business so I kind of figured that that's out of the question because its not quant enough?
So because of that I guess the Scotiabank internship could only just be something to bring up in a future IBD internship.

It sounds better, but would it beat Citi BO in this case when networking* is factored in?

(*The Citi office im going to doesnt do FO, so I would be looking to network with my colleagues links in different countries; most likely the US)

Nov 11, 2011
BulgeBracket:

What about Citi BO v.s. Scotiabank FO Trading Desk for future IBD opportunities?

I would also say S&T opportunities but Im doing a degree in Business so I kind of figured that that's out of the question because its not quant enough?
So because of that I guess the Scotiabank internship could only just be something to bring up in a future IBD internship.

It sounds better, but would it beat Citi BO in this case when networking* is factored in?

(*The Citi office im going to doesnt do FO, so I would be looking to network with my colleagues links in different countries; most likely the US)

Is this a serious question? Dude, Scotia is the third biggest bank in Canada and they have a significant trading operation. If you have both offers, take Scotia no matter what...

Nov 10, 2011

It's amazing how worthless some career centers can be. I'm obviously no expert on recruiting, but I know 10x more about it than anybody at my school's career center does about finance recruiting (granted, I am at a non-target). I had them take a look at my resume once, and the first thing they tried to correct was my lack of an objective statement. I'm not even bothering with them anymore

Nov 10, 2011
notaspammer:

It's amazing how worthless some career centers can be. I'm obviously no expert on recruiting, but I know 10x more about it than anybody at my school's career center does about finance recruiting (granted, I am at a non-target). I had them take a look at my resume once, and the first thing they tried to correct was my lack of an objective statement. I'm not even bothering with them anymore

Same with mine.
Unfortunately, I may have to deal with mine in a futile attempt to get out of this if I feel that the Trading Desk at Scotiabank is better for my prospects.

Nov 11, 2011

I can't even tell you how many resumes I have chucked because they have an objective at the top.

Nov 11, 2011
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Nov 11, 2011