I started out in Big4 Audit, currently have been in a TAS role for a year. I was wondering if it would be best for me to stick it out in this role for a few more years and apply to b-school or just try to make the jump after another year or so in my current role? I have no problem waiting and getting relevant experience but my concern is that I don't want to work those long hours when I'm 28 or 29, I'd rather put in my 2 years in my early to mid twenties and get them out of the way. Anybody have any thoughts?
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You haven't given anyone any perspective on what your immediate / long term goals or future plans are. How are we supposed to advise you on what to do without knowing any of that information? This is banking, not the IDF - you aren't required to follow this career path and it's not the best or most appropriate for everyone in every situation, regardless of what people have led you to believe
Long term I'd like to be in VC or Growth Equity. I hear it's great to have IB experience for those roles. As far as immediate goals, I was thinking business school but looking at the price tag I'm tying to figure out if there are ways around it.
I don't think you understand the competition involved in these roles - you need to sell yourself on actually wanting banking first before considering the exit opportunities of VC/Growth Equity. With that said, it's easier to break in pre-MBA than it is post-MBA.
I am a bit confused. You say "I don't want to work those long hours when I'm 28 or 29, I'd rather put in my 2 years in my early to mid twenties and get them out of the way." Does this mean you are trying to lateral into IB as a 1st year analyst after having all that FT WE? At that point, after working in Audit and TAS, wouldn't you be lateraling as an Associate or maybe an experienced analyst?
Could you specify what position you are expecting to lateral to?
I didn't think I would be able to lateral in as an Associate without an MBA or less than say, five years of WE. It is possible to lateral in as a 2nd or 3rd year analyst probably in a year or two, but I was assuming my experience would be heavily discounted. Considering I have between two and three years of WE, I could probably lateral in as a second year analyst at some places, but I figure I'd be more likely to come in as a first year analyst. Maybe you could provide some insight into that?
Okay, thanks for clearing that up. I can't speak to it personally as don't have any experience with lateraling yet. But I can give you what I think would happen...
I would say if you wanted to work at a BB/EB/top MM then yes, you would need to start as an analyst (not sure if 1st year or experienced analyst. I think it would depend and how you sell-it in your interviews).
If you wanted to work at a regional boutique, then you may be able to sell an Associate promote, or an experienced analyst at the least. I can't imagine you would be a 1st year analyst at a regional boutique.
I didn't think I'd be able to come in at a higher level if I lateral into a smaller firm, this is something I'll definitely think about going forward.
How many years of FT WE do you have? Three? Four? I worked with a few analysts who were in their late 20s, so it certainly happens, but I think you may want to ask yourself if that's really what you want. There really is no downside to trying to lateral, other than the stress, so you might as well attempt it. At least try reaching out to your network.
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