Can I even enter at this point?
Hi all,
I've recently quit my job and was invited to work on a startup with a friend in Asia. We raised over 100k in VC funding and were about to start but my partner had a family emergency and our investor pulled out because I can't do it alone for reasons I won't go into here.
After graduating from my target school (Princeton) with a 3.6 in the hardest engineering at our school, I took a job as a consultant at a small software company that specializes in business software. My role involved traveling to big firms such as GS and KKR and implementing technical solutions that they request. However, I quickly got bored of the job and the people I was around and knew I wanted to leave 2 months in. I stayed for one year in order to keep my signing bonus.
Now, I'm faced with a dilemma. I've always respected the culture and ideas that flow through this website. I know that my aggressive personality belongs in finance and the reason I didn't go straight out of undergrad was because I wanted to do something different and was afraid of the long hours. Now, I'm more confident in myself and am having second thoughts but I'm no longer in undergrad and do not have OCR to help me land a job. I have plenty of friends in IBD and even some in PE but I'm not sure what type of industry I should enter. I interviewed at MBB in my last year but didn't land a single offer from any.
I'd like some advice to help me figure out my options and determine which roles are even feasible for me to enter at this point. If I were to do IBD, wouldn't I be a year behind my peers? I also hold a 750 GMAT so numbers wise, I think I am alright. I graduated in 2015 (last year). In terms of goals, I'd like to work in a high pace field and attend a top business school.
Thanks!!!
Not realistic in the sense of getting something you'd really want right now even with a great background. I'd advise do something closer to corporate valuation and then go to business school. You will likely find off cycle hiring is weak and generally only open to candidates with past exp.
Given that you have numerous friends in IBD or PE, I hope you use them as your first source of reference. Anyway, leverage on your connections man, having people you know in the industry is great support!
With regard to your question, MBA seems like the way to go, and given your background, should be a breeze ey?
Anything is possible. However, the MBA is the most probable path for you at the moment. As you appear to understand, breaking in now will be a major challenge. Your biggest asset is your friends, but I can’t seeing them being too influential in getting you involved in some interview process. How would they position it to their group? “My buddy who has no IB experience but is smart wants to interview for a full-time seat”. There are just too many candidates with more applicable experience than you. I don’t see that path materializing.
Another avenue could be JPM’s junior analyst program. I had a buddy get an offer there. His background is very similar to yours, no IB experience, etc. I don’t think any other bank has a junior analyst program. After 1 year as a junior analyst, you become a full-time analyst. There’s a big thread on the program somewhere in the IB forums here. Good luck.
I think if you're unsure, you can find out more by entering a meaningful job in any subsector of finance. if you really want to pick your options later, IB obviously is the competitive path. but why did you interview MBB instead - is it just that they offered interview without referrals from your friend?
Yes, you can definitely do this at a mid-range MM shop. Talk to your friends and reach out to recruiters and other analysts from your school (coming from Princeton shouldn't be too hard)
Thanks for the replies. I understand how this stuff works. I know this is a broad question but what paths would be viable to enter a top business school with my background? I have a very entrepreneurial personality and would be open to attempting another venture in the mean time. I could also just stay in my previous industry and kill it there. How could I best position myself to gain admission to a top business school such as HBS or GSB if I'm not coming from a target industry.
I interviewed at MBB in my senior year because I was even more clueless back then. As you all know, that shit is mad competitive at any school.
I am going to be the jerk and say it here. You really have three options:
Stay and "kill" it where you are at.
In order to go to a top B-School, I believe you should be consulting an expert on that as opposed to WSO. I know you cannot state fully the current situation (confidentiality), so your needs could be a lot different then what WSO users can help advise you on.
If you have an entrepreneurial background, forget B school and start a business and KILL IT.
I don't think you're the type that likes to sit around let alone be re-institutionalized into the system again. We can't make the decisions for you, but I think the best ones you can make are the ones that will provide the highest quality of life you are looking for...or else everything you've worked on meant for nothing.
Good luck!
Bumping this post
Would it be possible for me to break into VC as an analyst? With my engineering background and entrepreneurial spirit, I feel like I would be a good fit for that industry and it could be a viable path to business school.
That's an option, but you'll need to network to get there (with which your Alumni Association can probably help.)
I'd agree the B School is the best path for you. But you'll want a few years of experience to get there (and to get in, honestly...) That's likely your best shot at investment banking if you want to do that for more than a 2 year analyst stint.
Stop worrying about the competitive nature of what others around you are telling you. Go get another job and kill it. The rest will take care of itself if you do.
What skillsets do I need to enter VC? What should I study while networking so I don't look like an idiot if a firm decides to give me a shot? I know I have a strong pedigree/academic background but my financial knowledge is sparse and I didn't participate in any investment/finance clubs in undergrad.
It may be a little late now, but you could always find your local community college and take a finance/accounting course (and if you want to do this now, think about some of the things on Coursera/edx/HBx)
This is actually how I satisfied some of my MBA pre-reqs. I worked in the biotech world and took my accounting prereqs at the local community college. (I came from a STEM background...took Econ to satisfy a general education requirement and enjoyed it so much I'm in corporate finance now. I just wish I had taken that before my Senior Spring...)
Do many people go VC -> MBA -> IBD?
No usually it is:
IBD --> MBA --> [something else] --> VC
One could argue that VC is the top of the food chain.
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