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How hard is it to get from a back office to the front office?
 

aspiringmonkey's picture
EN
(King Kong, 1,399
 
Points)
 on 10/8/06 at 8:47pm

How hard is it to get from a back office to the front office?

Tags:
ZiggyMon's picture

Are you serious???

ST
(Orangutan, 259
 
Points)
 on 10/8/06 at 8:48pm

There have been cases that I've heard of but very rare.

If its in to corp. fin..... then prolly very very hard. If its into S&T then chances might be more depending if you have some good knowledge....

Which side of Front office are you talking about?

aspiringmonkey's picture

dunno

EN
(King Kong, 1,399
 
Points)
 on 10/8/06 at 9:36pm

finance or operations in back office, transfering to IB in the future.

Reason I'm asking is because I'm starting to realize that its pretty much impossible to get into IB, unless you are from a target school(i.e. my sister goes to cornell and I looked up their interview trak and they have like every single IB recruiting there, my school on the other hand only has 2 MM banks, and 1 BBs).

Networking isn't as helpful as I expected since there are very few people listed on the networking site for my school who are actually in IB.

And it seems like it'll be almost impossible to even get a first round interview, since every single person who made it to IB from my school has had a 3.97 gpa, with 3 internships, and was offered a full time job from their summer internships.

I have a 3.8 Finance major gpa, and I didn't even get preselected for the 1st round interview at the MM...so I have to start making plans if that turns out to be a trend, and look at other careers that'll help me jump into IB.

My 2 choices are either do a lateral transfer...which is why I asked this question...my 2nd is to get a good job out of college that'll raise my chances for a good business school, which will allow me to be on campus of a target school, and will help landing that summer associate internship.

ZiggyMon's picture

Try for IB because you want to be....

ST
(Orangutan, 259
 
Points)
 on 10/8/06 at 10:02pm

You know what, I think the second idea of landing a good job and then taking the MBA associate route sounds more like a possibility. However, do realize that you are form a non-target school but that doesn't mean that you can't get into BB IB. Fine not straight out of school but, try some botiques. There are tons out there. After 1 year, then try again.

From what all my friends in US tell me, it is very very very competitive. Most of the places are taken by Ivey League grads.

But make sure you don't go for a shit back office job just cuz you are not from an Ivey League. If I were (in fact I am in a position similar to yours), try worrying about getting the job where you have to perform the desired job function. If you want to be IB analyst, then just try for all the botiques as well and not just BB or MM. If you have a good track record at that botique, then it'll raise your chances to get into BB later on.

What are you trying for in IB, corp. fin. or S&T, or what??

aspiringmonkey's picture

ib

EN
(King Kong, 1,399
 
Points)
 on 10/8/06 at 11:55pm

IB, yeah I filled out the online applications at 42 Banks, and hopefully some of the smaller IBs will actually go thru them.

ke18sb's picture

i'm sure there have been

PE
(King Kong, 1,092
 
Points)
 on 10/9/06 at 4:16am

i'm sure there have been times in your life when you wanted something really bad, then when you got it you realized it wasn't all that you made it out to be. banking is one of those things. one day when you've settled into a different career path and realize that you enjoy it you're going to look back and laugh at how silly it was that you wanted to be in ibanking so bad.

aspiringmonkey's picture

we'll see

EN
(King Kong, 1,399
 
Points)
 on 10/9/06 at 9:09am

we'll see, but I actaully think ibanking is like the right career for me based on my current personality, my priorities may change in the future but for now I don't really care about starting a family or going out every single night...so the bad part of ibanking doesn't really affect me that much

tp1269's picture

can be done, but definitly

 
Points)
 on 10/9/06 at 9:40pm

can be done, but definitly not easy. speaking from personal experience, takes a lot of luck as well as skill. good luck.

aspiringmonkey's picture

so

EN
(King Kong, 1,399
 
Points)
 on 10/9/06 at 9:57pm

so i guess its better to do something else then do Business school?

I mean the way I see it,

OPS(2 years) then if you are lucky you start as an analyst in IB(another 3 years) before you get promoted to associate, so 5 years total.

if I do something else and after 2 years go get my MBA, I'll start out at the associate level 1 year sooner PLUS I'll have the MBA degree.

alltherightmoves's picture

it's not that easy

 
Points)
 on 10/10/06 at 4:47pm

i think you might be underestimating the business school thing....

You most likely will not get into a good b-school (i.e. BB IDB target) with only 2 years experience. Candidates accepted to top b-schools usually have 4-5 years experience. The ones that have only 2 years experience are the ones with 780 GMAT and two years at a top BB in IB or at McKinsey, Bain, BCG.

Just thought u should be aware....

aspiringmonkey's picture

yeah

EN
(King Kong, 1,399
 
Points)
 on 10/10/06 at 6:07pm

yeah I know it'll be hard, going to have to select the first job after college very carefully

mrbubba's picture

At some more entrepreneurial

 
Points)
 on 10/11/06 at 2:13pm

At some more entrepreneurial banks, it happens very easily in trading. A desk has a need and a backoffice guy steps up to fill in quickly. In banking, I suppose it is much harder, because these programs seem much more structured.

Positive FCF's picture

Try sending your app to

 
Points)
 on 10/11/06 at 5:55pm

Try sending your app to boutique / MM first. Higher probability.

Twisty's picture

This is a very good thread.

 
Points)
 on 10/11/06 at 6:48pm

This is a very good thread. I was thinking the same exact thing!

Let me ask: What are some jobs to consider, if one dosen't 'cut it' the first time around? Perhaps Asset Management? PWM?

tcha3418's picture

Not going to happen

(Chimp, 10
 
Points)
 on 10/15/06 at 5:00am

Don't count on a move to front office from back - there is the usual prejudice against back office staff as business prevention officers

Monkey_Island's picture

in certain trading desks at certain banks

 
Points)
 on 10/15/06 at 12:12pm

the culture makes it impossible to be a front-office trader without rising through the ranks of middle-office trade support first. these opportunities do exist at reputable banks.

redperson121's picture

depends on the person

 
Points)
 on 10/15/06 at 2:29pm
smith's picture

think it is easy if you are

(Chimp, 3
 
Points)
 on 10/15/06 at 8:38pm
alstmdrll's picture

Very unlikely.

 
Points)
 on 10/15/06 at 11:15pm
InvestorMA's picture

In the words of HR..

IB
 
Points)
 on 11/5/06 at 11:59am
MetalJack's picture

Anyone know where in the

 
Points)
 on 11/5/06 at 3:15pm
GameTheory's picture

Extremely difficult. I've

PE
(King Kong, 1,435
 
Points)
 on 11/5/06 at 3:53pm
KPFury's picture

Re: Anyone know where in the

(Chimp, 13
 
Points)
 on 3/16/07 at 5:02pm
howard's picture

Hey Im a rising junior at a

O
 
Points)
 on 8/1/07 at 3:42pm
howard's picture

Hey

O
 
Points)
 on 8/1/07 at 3:42pm
sleepyguyb's picture

bump

(Gorilla, 607
 
Points)
 on 8/1/07 at 4:08pm

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