B4 Audit (Internship) to B6 IB (Internship) in Toronto
Currently a sophomore - first year was BO at big AM ($1T+) - 2nd summer was LMM M&A - have the option to do B4 audit for this winter 2024 — need to do a co-op off cycle and this is an offer I have. Would it look good for the upcoming IB SA 25 cycle (for B6 Toronto IB)?
Based on the most helpful WSO content, transitioning from a B4 Audit internship to a B6 IB internship can be a strategic move. Here's why:
Diverse Experience: Having a diverse background can make you stand out. Your experience in B4 Audit can provide you with a solid understanding of financial statements and business operations, which is valuable in investment banking.
Transferable Skills: The skills you gain in audit such as attention to detail, understanding of financial statements, and analytical thinking are highly transferable to investment banking.
Networking Opportunities: Working in a B4 firm can provide you with numerous networking opportunities. You can leverage these connections later when you're aiming for an IB role.
However, it's important to note that the recruitment process for IB roles can be highly competitive. So, while your audit experience can be beneficial, you should also focus on honing your technical skills, understanding of the IB industry, and networking.
Remember, the key is to effectively communicate how your audit experience can add value in an IB role during your interviews. Good luck, and remember, every step you take is a step closer to your goal!
Sources: https://www.wallstreetoasis.com/forum/job-search/ibd-sa-after-graduation?customgpt=1, Q&A: Big 4 Audit to MM IB, Offer Decision Help Needed, IB SA 2024 Thread - Canada
Bump
If it was advisory, I would say go for it for the off-cycle. But I don't think delaying a semester for an audit internship is as beneficial for IB. Totally different skillset. Might actually have to explain why you chose audit if you are passionate about IB.
Unless you can network and land an advisory one for summer 24.
What's your internship for summer 24?
Damn nothing good is available for winter or summer 2024 anymore (I need a co-op for grad reqs) — you know anything that's available now?
Wait, currently sophomore but already did 2 summers?
Market is shit right now but sometimes random stuff pops up last minute. Know a guy who got a NYC PE internship from Canadian uni for summer 23 in March 23 - applied around Feb.
Cold email people directly in LMM-MM banks / PE funds, sometimes they open stuff up for you if they like you. Don't say looking for an internship directly. Just say you want to learn more about their bank and get career advice. And as you do a couple back and forth, ask if they have a position for the summer in a month or two around Dec/Jan.
Jefferies Toronto is hiring SA 2024 for IB. Just saw on my school job board.
Agentis is also hiring for Infra IB SA 2024.
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