Dear Fellow monkeys.
I am facing the though decision between three summer internship offers. This would be my first internship in any related field as I come from a completely different backround originally (arts/sports). I am going into my penultimate year studying finance at a top european target next fall. Next September my recruitment efforts will be focused on BB/EB IBD SA as I am aiming for a London FT-offer in BB/EB IBD following my graduation. I am also a CFA Level 2 Candidate for what it's worth. These are the options I have right now:
1) MBB internship in European capital (think Stockholm/Berlin/Milan). Strong presence in the country and obviously the most prestigious offer I have
2) Big 4 (EY/Deloitte/PwC/KPMG) internship offer for M&A Advisory in a European capital (think Stockholm/Berlin/Milan). They are making quite a lot of MM-deals locally and also cross-border. So very strong presence in the country...
3) Solid MM-boutique in a European Financial capital (think Paris/Frankfurt/Milan). A lot of deals in the 25-100m range in Europe
So what do you think? Should I just go for the most prestigious offer (MBB) of these? Would it put me at a disadvantage against people who gained financial modeling experience at boutiques this summer? I could be learning the modeling with WSP on my own while completing a MBB-internship but I would obviously have no practical experience...
From what you mentioned about your ambitions to work in investment banking I would imagine the big 4 M&A would allow you the best opportunity. That said, though, I would be very tempted to accept MBB.
Thats precisely the dilemma I'm facing. Temptation...
Just be conscious if you choose MBB that you may be looked upon as someone who doesn't completely have their heart set on IB.
Honestly, I'm not hugely qualified to give you advice. What I would say is that without any finance experience, or an econ/finance degree, you may find it difficult to access IB positions. Hopefully somebody more senior is able to add to what I've said already. Good luck!
Thanks for your input! As I mentioned I'm going to study finance at top target this fall so I should be covered in that regard...
Ah sorry, I missed that. Provided that you can nail the technical questions in interviews and show your passion you'll do well I'm sure.
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Thanks for the advice! I Really appreciate getting some outside input on this matter. Already I'm sort of tilting towards the BIG 4 M&A. I'll be doing the excact same thing as what I'm going for FT. Probably going to look stronger next fall in the interviews...
Just found out that the BIG 4 has the biggest M&A deal count by far in the country i would be interning in. But it's obviously not very high in the deal value ranking since it has an MM-focus... Should this make my decision kind of a no brainer for BIG 4?
MBB. brand name is very important early in career, can't stress it enough. investment banking is not about a set of skills, is about a type of people. so once have MBB on your resume, you can move into brand-name bb later in career, they'd think you are good enough to be one of them. BB don't particular treat big 4 candidate as worthy, the same goes for no-name boutique. prestigious boutiques (centerview, Evercore .....) are treated in the same light as bb.
So I can't say no to McK? Eventhough I have an offer for M&A at arguably the strongest MM-firm in my region. I'd be learning the exact skillset I need in IBD and I'm going to top-target in Europe.
This is really hard for me to choose! I don't want to be regretting turning down M for the rest of my life...
I believe his comment above is more applicable to the US. From what I've read here, Big 4 is viewed much better in Europe than the US when it comes to exiting to banking. FWIW, if I were in your spot and dead set on BB IBD for FT then I would take the Big 4 M&A internship, unless 1. the MM boutique is a well known shop (check LinkedIn to see where past interns ended up) or 2.You aren't 100% sold on IBD for FT in which case take the MBB internship as that is easily the most 'prestigious' offer
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