How did I get into Investment Banking?

Hi Guys, first post on the community. This might take a bit of your time, but I just wanted to share an interesting story about how I got into IB.

Some background about me - An Indian guy who hails from a tier 2 city(perhaps you are aware of Sula Vineyard?) and have lived my entire life there - up until 6 months back. I was previously working in data analytics for 2+ years. Our major client was NY based Waterfall Asset Management firm.

Although I was learning new things, in the end, it was still a backend job. I put in my resignation letter to my boss. Well, as with all the bosses, he wasn't happy(you could probably guess why). The clients were pleased with my work, and the business was growing, but my going out meant unnecessary instability to the team.

Nevertheless, I stuck with my decision. You would wonder what was the rationale behind such a decision. I did not have any backup opportunities, I did not have a great degree that would land me a coveted job. And still, the devil in my mind kept talking to me to get into IB.

I can assure you, guys, I did not even know what IB clearly meant when I started working at the data analytics firm. You could say, WallStreetOasis played a huge role in shaping my career. I was just looking for financial modeling courses for Equity Research Role (quality free ones- no lying since I could not afford them at that time), and to my luck, that is when I came across the WallStreetOasis Internship.

I completed my internship and rigorously worked on the certifications, which formed a really solid base for this particular skill. SPOILER ALERT - Financial modeling is a necessity in IB, but not everything. You should know the business in and out first in order to build a really great model.

So yes, during that 3 months of remote internship, I also got the opportunity to meet the smartest people who were going to be the future I-bankers and partners at PE firms.

I thought, "What the f- was I even doing in life?" I was seeking financial modeling skills for the most generic role of Equity Research (the position is really diluted here in India since you could guess that was my priority for a core finance role).

That time I had two options-
1) Blue Pill - Stick with my current job in data analytics (I felt it interesting too, but it just wasn't for me) and give up the hope of trying something new. Besides, I really loved my parents and did not want to leave them alone.
2) Red Pill - Eventually, resign, hustle for some time, and apply at some of the bulge brackets and the boutiques and make my real parents proud.

I took the red pill, but the reality hit me hard. At the end of three month notice period (we don't get 15 days notice period), I still did not have any offers. "Was I wrong to resign from my previous company"? I had applied to almost 350+ boutiques and bulge brackets in different countries, US, Canada, India, Australia, UK, Ireland, Scotland...you name it, and still barely got any replies.

I could hardly get a couple of interviews- a really bad conversion rate due to an ordinary degree and bad exposure to the real world.

But I had DECIDED - it will be IB or nothing else. I was really more inclined towards the startup funding scenario because I loved understanding their journey.

After getting tired of applications getting rejected everywhere, I decided that I will directly start working with a startup and help with its VC funding. After a couple of screenings, I came across a startup in space tech and connected with the founders. 

After a couple of calls to and fro, we agreed on a mutually beneficial contract(not an actual contract but just a verbal one). I help them find investors in the space tech sector, and in return, this entire episode helps me to gain experience. No monetary compensation, nothing.

Two months still unemployed, I had a good grasp over understanding the VC ecosystem, which fund invests in what sector, and the decision-makers, but still I could not find investors since the space tech sector was at a nascent stage.

But this did build up my courage and knowledge, and I started applying again with this pitch( That I am working with the space tech company for their fundraiser). Scored a couple of partner stage interviews with VCs, IBs, and even accelerators.

You know hard work and dedication never go unnoticed, and I eventually landed a position at a boutique IB(we work on Pre-Series A to Series C+ transactions and are sector agnostic). I knew I had to move out of my hometown now since I wouldn't have the same opportunity again in my entire life.

Was it a good decision? Absolutely yes! I have never felt happier while working, and while I do work 14-18 hours on certain occasions, it's because I love what I am doing right now. By the way, I am currently working on a Fintech deal, but I also look at the healthcare and SAAS sector.

Do y'all know why I wanted to share this story? It's because anything is possible in the world if you wish it to be. Just believe in yourself, work proactively, and the universe will give it to you in some or the other way. Whatever comes your way, believe me, will always be in the best interest of you and your career/life.

Our organization CEO will be at the TechCrunch Disrupt 2023 event that will be held in San Francisco next month on Sept 19-21. 

I would be more than happy to schedule in-person meetings with IBs, VCs, and PE based out of NYC, Austin, and San Francisco, who would love to understand the Indian Startup Landscape and what's happening over here for the last 2-3 years.

Peace out, folks! I will be back with another story soon since a lot of them are brewing up 😂😂😂