Q&A: Extreme Non Target to IBD

NOTE: Made this post a while back but didn't have enough bananas to post the story into the main body. Starting college as a pre med student, I attended a college highly regarded in the biological research field but a complete fucking joke in anything else. And by a complete joke I mean we had ONE Wall Street alum and that's it. He died early (ski accident). Anyhow, typical non-core school qualms. I held a quantitative analyst position at a large biotech firm undergoing a merger so I got decent exposure to finance and after countless applications and networking emails, was able to score a corp dev summer analyst position at a highly acquisitive company the following year. The internship was found with quite a high level of difficulty and wasn't at the most "prestigious" or "top level" or whatever it is some people come up with company. But what it did provide me with was awesome deal exposure and I genuinely enjoyed my time there. Prior to starting the corp dev internship I did my diligence and began networking with any and all investment banks for an SA gig. I really messed up to begin with though since I didn't have a strategy nor did I have my own story straight. This led to the first person I spoke with asking me about "why banking" and I probably couldn't have fucked up more if I wanted to. I rambled on about some bullshit concerning my love for working long hours and making friends... Yeah I really did say that. Needless to say, the guy dumped the contents of his asshole all over me and never spoke with me again (despite my efforts to follow up and stay in contact with him). It's important to note that he was a "middle office" role (credit risk) and not an M&A God or whatever it is everyone worships. Despite his irrelevant role to me, I headed his advice and REMAINED HUMBLE. Take the advice you get with a pinch of salt, doesn't matter who it's from. The point is, they're working at a bank and you're not. Remember that. Anyway, when my corp dev internship started, I began routinely emailing bankers at a rate of 25/day. But as I was doing so, I was able to score the biggest asset of my search for the IB position: A MENTOR. Someone at my company who had years of bulge bracket tech/healthcare banking experience. I approached him with my well crafted story and he took me under his wing, promising to reach out to friends in very high places if I performed well during my internship. And I did- I worked relentlessly, stopping at nothing to assure I delivered perfect work product. Halfway through a lot of my managers (all from target schools at one point) were puzzled as to how I wasn't a student at some top ten business school (aim for this level of performance). My mentor followed up on his performance and before I knew it, I had interviews with everything from EB firms to BB to MM firms. I flew out to New York received an exploding offer from my top choice which I quickly accepted (2 MD's, analyst and associate interviewed me in case it comes up). I definitely want to do anything and everything I can to help others trying to break into the industy. I just won't divulge anything to do with the bank.

 

you need to elaborate more about your story. Non-targets to IBD is not an uncommon thing, speaking from experience. shed more light on what kind of school, how you got into banking (ie. through networking, on campus resources if any, etc.), anything that questions can be tailored off of. for this to be useful, people need more information.

"My name's Ralph Cox, and I'm from where ever's not gonna get me hit"
 

much better, good write up. Fellow non-targ who broke in IBD this past summer and returning FT after graduation. best of luck to you man.

"My name's Ralph Cox, and I'm from where ever's not gonna get me hit"
 

I'm a nontarget sophomore with first BB superday coming up. Any tips on superdays in general? How did you answer the "why ____(school name)?" question? I usually go with the ROI path, but I'm not sure if there is a better approach.

 

For me, seeing as I was a premed student I really wanted to get undergrad research experience and a large exposure to the biological sciences on a practical level- something my university offered and played a role in when I chose it. Find a strength of your school and play it hard.

 
ThatBankerOverThere:

For me, seeing as I was a premed student I really wanted to get undergrad research experience and a large exposure to the biological sciences on a practical level- something my university offered and played a role in when I chose it. Find a strength of your school and play it hard.

Didn't you say a few months ago that you were a law student? Or is this an animal house thing?

 

Thanks for sharing your story! I went through something similar: Extreme non-target (Ranked between 150-200 by US News) but ended up at a no-name NY boutique instead of a bulge bracket after graduation. Question: How do you think your lack of a brand-name school on your resume will affect opportunities for promotions / future career outlook in gerneral? I will be attending a masters program at a target starting this September, and the only reason I enrolled is because I feel like unless I stay at my current firm forever (which I don't want to do), I won't go very far in this industry due to lack of pedigree. I'm really curious to know if you / anyone else coming from a mediocre background had similar thoughts.

 

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