Internship at a bank to get a consulting full time job?

Having a top-tier Bulge bracket name will definitely help your application.

In my experience, a strong banking internship is actually better than a second-tier consulting internship to break into MBB. To the people that screen CVs, prestige is an important metric, so an internship at a top tier bank is generally regarded in higher esteem than a second-tier consultancy. Additionally, all consultancies will teach you how to do the job anyways, so the fact you have already done a similar job for a few months is not that appealing. In banking however you develop a different set of skills which can be looked at favourably.

Hi,

I think it's a good option for the following reasons:

1. Investment banking, in general, is one of the most relevant backgrounds for consulting in terms of skills
2. Noone will dig into details what you were actually doing while the resume screening. Thus just put investment banking in the resume

Most importantly, during the FIT part of the interview make sure that you highlight the skills and achievements that are relevant for consulting. 

Best!

Hi Anonymous,

it depends by your opportunity cost – which are the alternatives you have right now? If it is the only alternative, of course you should take it. If it is not the only alternative, would be great if you could list which other options you have.

In general, a top banking name in your CV is good for a consulting screening for a future application for MBB. It also depends which company you are referring to – Goldman Sachs, JP Morgan and Morgan Stanley are the top bulge bracket banks, but other brands could be good as well.

Other alternatives include (i) second tier consulting companies; (ii) strategy role for big brands.

Hope this helps,

Francesco

Thank you Francesco! As of right now, I don't have any alternatives, but it's really early in the recruiting period; I haven't even gotten the chance to recruit for SA positions at any consulting companies or strategy roles for big brands. I feel like if I recruited for an alternative that you listed I would probably be able to get one in the fall, so I guess the question is whether to play it safe and take the JP job or try to go for a consulting/F500 SA position in the spring. Another primary concern I have is the whole Public Finance part - again it is investment banking, but a more niche position so I'm not sure how the position is received by MBB.

Dear A,

To give you a proper response I would like to ask the following:

- What is company of the bank?

- WHat other opportunities you have in front of you?

If you are interested we can discuss you future opportunties and alighn your application strategy. For that, please, drop me a line. 

Best,
André