Hey guys/gals, I just want to get some opinions on a few things.
Long story short, I networked my ass off + applied at tons of places last recruiting season and I got no interviews. I'm from a super non-target with an engineering undergrad degree who has been working for a yr as an engineer.
Anyways i'm applying for the Duke Master of Management Studies (MMS) program in a couple of months, hoping to find an analyst job in IB upon graduating.
Assuming I can land a short boutique internship prior to starting the MMS program (6 weeks or so), would it be beneficial for me to take some of the programs at Wall St Prep to have a better chance at full-time analyst position after the MMS program?
Obviously I know what I want to do and I know I want to switch out of engineering into IB. But I also want recruiters to take me seriously, and to not think that i'm just some kid who took the MMS program to get a random job. I am forgoing an engineering salary (which is pretty comfy given my situation) on top of paying around 60K to complete the 1 yr program just to get my foot in the door of IB.
I spoke with a hiring head at Oppenheimer and was told that the wall st prep may help me show that I am committed to getting into the IB industry, and that I am serious about it (in comparison to some random liberal arts or engineering kid who went into IB just because the salary was appealing and it was there).
JoJo, Anthony, or someone with actual experience with one of these programs, can you chime in?
Thanks for your help!!
Regards, D
Well I'm not JoJo or Anthony and I don't have any experience with these programs, but based on your background I would think you're better off working in Engineering (esp since you're already a year in), getting a good MBA, and going in as an Associate. I also have an engineering background and have friends in engineering who wants to do banking. They're always more successful breaking in as an associate than competing for analyst spots.
Duke undergrad here.
I'm not going into I-Banking by any means, but my three best friends here are going to IB or S&T at MS, JPMorgan, and Citi next year. I think you should probably ask yourself a few questions before you apply to the Duke program.
As CharmWithSubstance mentioned, you would be competing for analyst spots. More importantly, you will be competing against DUKE STUDENTS for on-campus interview spots that lead to analyst spots. I can tell you that on Duke's campus, the competition is extremely fierce. Conservatively, probably 30% of the undergrad population is gunning to be an I-Banker, and essentially the same 40 kids get all of the on campus interviews slots. If you can make it onto the top of the dogpile, you're get a lot of exposure to recruiters. If not, well, sucks. And you're gonna need a little more than "I go to Duke" if you wanna make it to the top of the dogpile.
That being said, Duke does indeed send a good number of kids to the top I-Banks each year, maybe about 25 kids total.
Hope that helps!
Check out lukeatduke.com for a realistic view of placements from the MMS program.
Getting into IBD from the MMS program may be a bit more difficult than you think.
Have you considered an MFE? Chicago, Princeton, and CMU all have excellent financial mathematics/engineering programs. They're also a lot cheaper and would fit an undergraduate engineering or math major very well.
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