Sophomore summer - Big 4 consulting vs boutique vs PWM?

I'm thinking between a Big 4 strategy consulting internship (structured, return offer available) vs working at a newly founded boutique merchant bank - the partners are all exits from BBs and told me the model would be something like 'GS before it went public' - a bit of IB/PE/AM altogether. I'm also expecting a PWM internship from a near-BB (think SG/Nomura etc). They are all in HK btw.

I know that if you are dead sure you would be heading for IB SA gigs junior summer, then the boutique one sounds much better. But 1) I am going to be focusing heavily on HK recruiting next year still and I think brand name is a much bigger thing there in comparison, so the Big 4 name might help quite a bit; 2) I am not 100% (maybe 70%?) committed to IB for my junior summer...plus I am finishing a PE internship so I have some IB-related experience under my belt already. A Big 4 consulting internship would certainly leverage me better if I decide to head for places like MBB too? An FT analyst I got to talk with earlier did exactly the same (1 IB-related + 1 consulting internship) before SA recruiting and got to say "I did both and figured which one was better" - he said that helped him, both personally and in interviews; 3) I really liked and clicked well with the people at the Big 4 firm when I interviewed, and I thought I could learn a lot from them and potentially enjoy being a part of their team. I also feel like I'll learn a lot on the internship too.

As for the PWM one, I assume that it's not favorable compared to the other two here? It's also the shortest one and I doubt I will learn/do much apart from the fact that it pays much better. Looking at pay is short sighted for sure tho...

Thanks in advance!
PS i go to a semi-target (Target for HK/APAC recruiting), if that makes a difference and I'm an HK native.

Comments (6)

May 31, 2016

bump bump - many thanks!

May 31, 2016

I wouldn't go for PWM. Really can't speak for the importance of brand name in HK, but in NY, I'd go for the boutique if I was sure I wanted to do IB for my junior summer, since it definitely wouldn't lock someone out from a consulting internship down the road.

May 31, 2016

I would take big 4 consulting based off of what you're saying. I don't know the landscape in HK at all but I think if you have a strong culture fit and aren't sure if you want IB or Consulting then I think it could be a great fit. It certainly won't hurt you at all for Junior SA recruitment. I actually think this is a no brainer if you don't want to be in HK next summer.

Would take the merchant bank if you know they'd tap their contacts for junior SA recruiting. But who knows what your experience will be like at a new firm.

Jun 1, 2016

I wouldn't choose the PWM over the other two. If you are dead set on IB then I would choose the boutique hands down as when you apply for other IB roles you will be able to showcase your 'transferable' skills that you would have learnt during your internship.

Jun 1, 2016

don't do PWM (I'm in PWM).

here's why: you can take the other jobs and eventually go into PWM, but if you take PWM over the other 2 jobs, you hinder your chances to go in something non-PWM.

Jun 2, 2016
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