Transitioning from a Financial Analyst to an Investment Banking Associate
I am very aware of the standard career path of an Investment Banker. I have accepted a position in the Wells Fargo Financial Analyst Program. At the end of the 3 years do you think I can compete for an IB associate position? As a Financial Analyst a lot of my responsibilities will be extremely transferable from financial analysis, underwriting risk, etc. Do you have any feedback as to the uphill battles I may face and if this has been done before. Does it make sense?
Any feedback would be great.
associate no, analyst yes. it heavily depends in what group you working in WF.
No, you will not be breaking in, especially at the associate level.
Every knucklehead in corporate banking thinks that they can somehow lateral into IB but it almost never happens
I've heard of a FEW breaking into Lev Fin(given that it's corporate banking) but that's about it.
Agree that it depends on what group you are in, different corporate banking groups can vary significantly on the complexity of transactions they work on.
Junior Financial Analyst to Investment Banking Analyst? (Originally Posted: 02/25/2014)
is it possible to translate to IB by working as financial analyst in finance department of a company or a bank? I know people say the are basically the same thing however most corporate financial analyst used a lot of Pivot tables/ Vlook ups as well as other duties that are mainly done by accountants. So it is possible to transition this skills to investment banking?
hahaha
Possible, but most probably after MBA. If you want to get into IB pre-MBA, you'll have to network HARD. Maybe transition from a corp fin into transaction advisory...
I know people who did it, but the hurdle was waaaaay to high. MBA is definitely the best bet. Preferably top 15~ish.
Starting as a financial analyst at a non-finance related industry. Chances and ways to enter IB? (Originally Posted: 09/03/2014)
Hi,
I am a recent graduate of semi-target (business&stat double major). I have been working VERY hard to enter IB, but it didn't really work out. It is painful, but I have learned to open up to alternative options that could be a stepping stone to IB.
I have recently been getting some interviews for those "financial leadership program" that goes for 2 or 3 years. The companies are not necessarily in the financial/investment industry. But if this program would eventually build a good foundation for me to enter into IB, I am more than happy to grasp this opportunity. I am definitely going to study for CFA and pass at least lv1 within one year. (Hopefully lv2 by the time I finish the program)
So my questions are:
1)Would this be a good starting point for my interest(IB)?
2) If so, how long does it take to take the real step off the stepping stone and enter IB? Can I make the move as soon as the program ends?
3) If not will I HAVE to get the MBA degree?
4) Any other general advice for my situation?
Thanks!!
'financial analyst in a non-finance related industry lol wut
For example, financial analyst at Google or...financial analyst at Nike
I am going to answer your question partly, but I hope you don't take offense to it.
A financial analyst role might be helpful but obviously it depends on the role and the firm you are working at. Some roles might even have you working with investment banks across wall street, other roles might be nothing more than entering numbers for your boss, filing papers, etc. (slightly useless to getting an IB job). Look into the roles more and network more. Call them up and talk to them- it should be obvious to you after how the role might contribute to your experience towards building a career in investment banking.
My advice: You are still young, and full time recruiting is going on right now for current seniors. Network! Don't give up, I was in the same position as you. I graduated without a job and had interviewed at countless different places. After being put on hold that summer I finally got the call up and am now working at a BB, something I thought was never going to happen.
Frame your story right, express true passion, don't give the same explanation as everyone else. When networking and interviewing people look for authenticity, and if you are just in this because it is the right "path," everyone will know in a second. Think of it like a kid in high school explaining to you why they deserve to be at your university- if its bs and plain its obvious.
I mention this last part because the CFA isn't really for people in investment banking, more for the investment management business. You should understand this pretty obvious distinction already, although it could be that you just didn't know much about the CFA. Anyways, my point is there is enough information on this board, out on the internet, from your peers, and from networking that these questions shouldn't need to be asked here (as they are quite basic). Get organized, make a list of your network, call up every place you can, email every alumni. You can get this job, you just have to not stop fighting for it.
PM if you have more questions or want to offer more insight to your situation, will be glad to help.
First of all, Thank you so much for your thoughtful insights. This really means a lot to me. I actually have tons of questions. I REALLY wish I could PM you, but apparently I can't cuz I am a chimp...
Yes, I am still young and I am trying really hard to network. Unfortunately, I can't get much help from my parents and It is quite difficult to stay unemployed... Is it possible that I can still find a position at IB even though I am not a currently enrolled student?
And to tell you the truth. My ultimate goal is to run my own fund. I am more interested in "investment" itself. That is why I was mentioning both IB and CFA. Does this make me someone without an authenticity for IB?
Financial Analyst to IB? (Originally Posted: 12/24/2012)
For a sophmore non target, how does a F20 Tech FA internship in "Sales and Distribution Finance" look if I'm trying to grab an IB internship next summer?
Also, merry christmas to you all!
Looks defnitiely alright, maybe look at at PWM internship in the spring or fall semester junior year while recruiting. For SA stints what matters most is school and GPA.
This is an excellent Sophomore internship for a non-target.
bump, any other opinions?
thanks,
this is a great opportunity regardless if you are a non-target or target. you should probably try to intern part-time at a local boutique in the Fall semester to beef up for resume for SA recruiting, but having a f20 finance internship is good already enough. network and have a good story, you should be fine.
financial analyst to IB, or vice versa (Originally Posted: 12/05/2012)
hi all. i am a 2012 MBA with an internship at a boutique IB shop in 2011 and a pre-MBA background in engineering. i have an offer for a senior financial analyst role at a large Fortune 400 company and i'm working on an offer from a (different) boutique IB. the obvious issues are in play: $ and quality of life (co-workers, hours, $ comes back in in the form of financial security).
so my thought is to probably take the IB offer if i get it, pay down debt, grind away for experience and networking, and then in 2-3 years look at exits like the obvious PE/HF and also maybe look back at this F400 company for a more senior corpfin role because the company is pretty awesome. a friend thought it might also work to take the F400 job and then with a year as a SFA under my belt and still with IB intern experience (credibility: i know how the IB game works more than almost anybody without an internship), possibly look back into IB jobs.
my impression is that finishing my MBA, going to industry, then back to IB isn't very likely because IB folks just won't take a look.
i haven't even gotten the IB offer (who knows if i will, still need to do some kick ass interviewing), but if i did have the 2 options, what does the board think? could i go SFA and then back to IB? i'm not even sure if would want to do that, but i'm curious to see what others think.
thanks for your thoughts.
Fortune 400 eh. Sounds pretty nice...
Seems like you understand it's easier to go IB then Corp role than vice-versa, especially post MBA. I have b school friends that knew they hated IB, but man those loans are not small, and are grinding it out for 2-3 years to chip away at debt.
I would guess you're late 20s/early 30s and say it really comes down to where you are in life and how much you value your own time. Personally, I couldn't keep living the IB then PE lifestyle but you're right that it's almost impossible to do IB if coming from corp and a year or 2 out of MBA.
You couldn't go SFA to IB... you going from IB to SFA would be a total joke. As a Senior post-MBA associate in IB, you would likely be able to go over to Corp Fin at Director level. There is no compelling reason to start in Corporate Finance from your position.
^^^ Unless it is a lifestyle choice, which is fine. But if your ultimate job is to have the most attractive career prospects possible, while leveraging your MBA and keeping your options open, this would be a no brainer.
@rufiolove, overall makes sense but titles in corp life are completely different than IB....it's like a different language. My firm's finance team, for example, is all former IB folks with the title of financial analyst (despite 7-10 years experience, etc.)...we're probably a bit different but it's like referring to legal as "attorney" regardless of experience.
My only reason for pointing that out is that I would say it would not be a total joke just based on title.
I'm aware that the titles are different, I started my career in corporate finance. I also know that 1 year of investment banking is more like 2.5 years in a corporate finance gig... So someone who is a Senior post-MBA Associate, would be 5-6 years up the banking ladder (the experience might be less than someone who started as an analyst but their standing and knowledge should be roughly the same). If they weren't able to go from Senior Associate at a bank to a management (read: not financial analyst number crunching reports) style role after doing a 2 year MBA and spending 2-3 years in banking, then they are doing it wrong.
The quality of experience between the two roles is also worlds apart. Having 7-10 years of experience in a run-of-the-mill corporate finance gig at a F500 firm is not nearly as impressive as having 3-4 years of banking experience or even 2-3 years of banking experience plus an MBA.
I'm merely referencing someone I've worked with as a benchmark. He was a senior Associate who decided to go work in a finance role within industry. His title is Director of Finance and he has Senior Financial Analysts who report to him. His next "promotion" will be CFO.
you guys are echoing some things i'm thinking and adding a bit more. thanks.
@rufiolove when i mention going from IB to industry, i am talking about going back at a higher level than SFA. with the way the titles work, probably as AVP or SVP. @jr253 is right, it's a whole other language.
I think you guys are discounting rufio's point too quickly. He's right about the titles.
I'm really surprised that you'd enter the company as an SFA. When we (and other companies I know of)hire fulltime mbas they come in as managers. Just realize that if you go to the F400 (seriously?) it could easily be 2-5 years before you even make Manager.
SFA to IB is not very realistic. Is your offer in their internal M&A/Business Development group? If not I'd say your chance of that move are nearly zero.
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