Starting as a Second-Year

I think you can always ask, but I believe it is always better to refrain from asking for favors unless you are quite sure those favors will be granted. I would say that there is a slim chance that that request will be granted, so I would not ask.

Are you serious? How is your entrepreneurial venture, no matter how impressive it may be, even relevant to the experience that you would acquire as a first year analyst. You deserve to start at the bottom like everyone else. I wouldn't even bother asking as they may actually laugh out loud at your request.

"What counts, in my opinion, are experience/mangerial, entrepreneurial skills and the like."

That's what you think. An analyst is not rewarded for good managerial or entrepreneurial skills. It's about getting the numbers right, and right on time. If you go in as a second year analyst, your peers would be performing at a far higher level than you.

how can someone with your supposed background be so stupid/clueless.

Did you really just compare having an MBA to successfully building/selling an entrepreneurial business? You could have started a lawn-mowing business or cupcake delivery service for all we know but it is still irrelevant in regards to requesting that you begin as a second year.

I love that the poster was purposefully vague... at least provide some juice to your argument, tell us about this start-up.

I studied at the LSE and I remember an Indian kid in one of my classes who would always refer to his 'IT' start-up back home, he'd then bum a smoke. I always found him amusing tho'

Wow, you stiffies need to loosen up. In my opinion the OP asked a reasonable question. Yes, I agree that the OP was very vague. But let's not forget that the innovators are the people who really make this economy work. I have tremendous respect for the OP (if he is telling the truth) and others who do the same. It is just like typical IB stiff pricks to dismiss somebody's pursuits as trivial. If there is any pursuit on this board that is trivial it is the typical Ivy-IB route. And "junkbond...," I'd rather take a successful entreprenuer than a MBA anyday, as everybody knowns a MBA is a joke.

Davelax, you are confusing the issue. no one is saying that the OP's pursuits are trivial, the question is whether his experience is relevant to the IB route such that he deserves a one year premium. Would an entrepreneur be entitled to have one year off his med or law school studies? No, that's ridiculous.

BigDaveLax, I also respect entreprenuers more than the average banker or trader. But it is not the same education as a 1st year analyst gig (whether it is "better" or not is debate-ble)

...However I would say that it isn't.(If it were he wouldn't be bothered/concerned/thinking about an IB job)

hahaha dude if you asked that you would be laughed at... i doubt you even have an offer if you do its probably with a mm or boutique

if you go into prop trading, it wont matter what your startup did, you need to learn to trade.

if you go into the PE arm, it wont matter what your startup did, you need to learn to model.

just start as a first year, its not that different in terms of pay and if your startup was successful then you shouldnt have $$$ problems correct?

The short answer is probably not. In fact, it's probably more than "probably."

But the practical answer is "do you care?" The only difference between being a 2nd year and 1st year in your situation is that you'll get paid SLIGHTLY more (and yes, I know 20 grand is not peanuts, but in the grand scheme of things, 20 grand does not matter much).

The reason is you will still struggle just as much as a 1st year while you get up the learning curve, and you'll also be compared to a peer group of other 2nd years that have MUCH more experience and knowledge than you. You may get a terrible bonus starting out as a second year because you can't keep up with the 2nd years. Please spare me the argument that your experience will let you be competitive with 2nd years, it won't. There is no substitute in banking/PE other than working in it. Even people with relatively similar jobs (corporate finance/banking, accounting, corporate development) to start out with struggle in the beginning. There is simply no comparitive job out there that will prepare you for the knowledge base and level of efficiency required, and in some cases, the hours that comes with being an analyst...

Hi,

Thanks for the many comments. So yesterday, I actually had a short conversation with the VP from the bank that made me an offer in prop trading (equity derivatives). The VP also graduated from Stanford and he is a really nice guy, so I felt comfortable asking him about second-year status.

His response was that although he understands my request, he cannot grant it. His main argument, however, was NOT that my start-up (and by the way, this was NOT a cupcake delivery service or anything similar) didn't give me any skills applicable to the job, but that it would create a weird situation: I would be on the same level as people who have already been trading for a year, who are managing their own books and have developed their own "lines of profitability" for the firm. He said that others in the group may get the impression that I am receiving preferential treatment.

Then he said that it really doesn't matter at all in the long run: in prop trading, more so than in banking, one can climb up the ranks very quickly. By performing well, he said, I could make up for this one year by getting promoted earlier to Associate, or later from Associate to VP.

thanks for the update, what did you study at stanford?