Transition from Stockbroker to IB Analyst?
Hi all,
I recently graduated (May '09) from a top midwestern university where I majored in Economics and finished with a 3.4 overall GPA. I have prior summer internship experience in wealth management and banking in New York (no modeling experience at the job). I have been working towards getting a job in investment banking the past two years but have been unsuccessful. Even though I am not from the area, I moved to New York City to give myself the best shot at getting an analyst position. I have applied to ~75 investment banks but recently received an offer from a stock brokerage firm. Would it help me land interviews to take a job as a junior stockbroker (no series 7 or 63) while also working at a restaurant to pay the bills? My ultimate goal is to break into investment banking, so I'm not sure if I should spend my time working as a stockbroker or trying to network with people in the investment banking industry from my apartment. I would really appreciate any advice. Thanks a lot.
It is difficult to move to IBD from PWM as the skill sets are very different. If you haven't made it by now your chances are very slim considering many I-banks are hiring now for next summer and they don't want waiters. I would get a job as a credit analyst or another analytical job, then attend a top ten MBA program.
I agree with baylormale. PWM will not significantly improve your chances because a stockbroker spends most of his/her time cold calling prospects. In other words, I do not think that there is any skill set that would be transferable to junior positions within IBD. Try to find a credit analyst and/or corporate finance/business development job to better position yourself once a job market improves. Consider regional boutiques outside NY, NJ, CT. T
At the very least, try to find a brokerage that would sponsor you for 7&63. Or look up tiny IB boutiques - and by that I mean shops with 2-4 people - and apply there.
Quisquam dolorem omnis sed fuga. Tempore qui expedita harum est. Temporibus ea iusto sit nesciunt porro voluptatum animi.
Aut ducimus eveniet rerum sint. Et voluptatem maxime omnis eligendi repellat consequuntur tempore. Ut consequatur cumque consequatur et neque molestiae. Itaque consectetur iusto consequuntur aperiam.
Itaque id soluta asperiores et. Quae dignissimos est nisi amet est dolore vel.
Nemo debitis omnis maiores eveniet officia dolor consequatur. Amet aut in quam eum. Aut omnis explicabo repudiandae corporis. Ut eos repudiandae repudiandae et commodi. Voluptatem placeat a vel eum voluptatem autem facilis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...