4/26/16

Hi everyone,

Thanks in advance for reading my post. I searched for the topic online but couldn't find discussions relevant to my questions. I wanted to know if it would be possible for me to do an internship after my junior year in MBB and land a FT BB Analyst position if I decide to go the banking route. I am interested in doing banking after graduation but have also been looking at the consulting route since starting college. I feel that if I decide to play if safe and do banking internship after junior year and then do banking (assuming I get a return offer of course), I will always be wondering what if I did an MBB internship instead. Furthermore, I also want to spend my last summer near my hometown and seeing as how MBB have regional offices around the country and is not fixated in NYC like banking is, it makes this option even more attractive to me. My question, is how hard would FT recruiting for banking be if I spent my summer at say McKinsey. I know that it's getting more and more competitive even for summers to get FT offers at BBs and just wanted to check in with WSO.

Some background: Sophomore at a target school, decent gpa, great extracurricular, and will be doing a business internship at a well-known tech company this summer (Think: Google, Facebook, Snapchat)

Comments (6)

4/26/16

Harder to get a MBB internship than BB.

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4/26/16

I understand that and have actually already interviewed with one of the MBB for a sophomore diversity program and although I was not extended an offer, I was told I have an automatic interview spot next semester. I am planning to spend all my free time this summer doing case prep and technical studying for BB interviews as well. So assuming I can get an offer, would this route be feasible?

4/27/16

Just from a pure numbers perspective...
Number of interns at a NYC BB bank: 80-120 (this is my best guess of what I saw during my summer)
Number of full-time positions at a NYC BB bank: Likely however many interns they hired the previous summer. Vast majority of people who get return offer accept.

Number of interns at large MBB office: 10-20 (1-5 likely in small regional office)
Number of full-time positions at large MBB office: 40-60. Vast majority of people who get return offer accept.

So more slots are open to make the transition from banking to MBB full-time (doesn't mean actually getting the job is easier). Would assume most people who recruit for banking full-time did a banking internship and either a) didn't like their group/firm or b) didn't get an offer.

If you want to do banking full-time, do an internship at a bank. 20 years from now, you aren't going to be wondering "What if?" about an MBB internship.

Source: Did SA in banking, made switch to MBB full-time, found out my replacement also did banking internship.

4/27/16

Get an MBB internship offer then worry about this problem...

4/27/16

If your unsure what you want to do go with MBB. It's much easier to go from MBB-> IB compared to IB->MBB

9/28/16

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