Endowment -> Why IB?
Hey y'all - I'm a sophomore who is working at my school's endowment fund this summer. I'm going to be recruiting for IB this spring since I want that intense learning environment post-college. What is the best way to frame "Why IB" given endowment management is less deal-based?
Based on the most helpful WSO content, when transitioning from an endowment fund to investment banking, you can frame your "Why IB" answer by focusing on the skills and interests that are transferable and how they will be amplified in an IB environment. Here are some points you could include:
Interest in a Fast-Paced Environment: Emphasize your desire for a more intense and fast-paced learning environment that IB offers, which can accelerate your professional growth and financial acumen.
Deal Exposure: While endowment work is less deal-focused, you can express your eagerness to dive deeper into the transactional side of finance and gain hands-on experience with deals.
Analytical Skills: Highlight how your experience at the endowment fund has honed your analytical skills, which are crucial in IB for financial modeling and valuation.
Long-Term Perspective: Working with an endowment fund, you've likely developed a long-term investment perspective. Explain how this can be beneficial in IB when evaluating the long-term potential of deals.
Teamwork and Collaboration: Discuss your experience working as part of a team at the endowment fund and how you look forward to bringing that collaborative spirit to an IB team.
Passion for Finance: Share your passion for finance and how working in IB is a natural next step for you to deepen your knowledge and expertise.
Remember, it's about connecting your past experiences with the skills and attributes that are valued in investment banking. Show that you've done your homework on what IB entails and how your background has prepared you for this challenging and rewarding field.
Sources: Q&A - Infrastructure PE & IBD, Family office Private Equity - help, Why do MM IB shops get trashed on so much?, Why do you think you got the offer?, Why BBs are better than EBs
I'm assuming you are graduating early, or you are recruiting for an SA position over the summer going into your senior year - I'd guess the latter, but still a bit unclear to me.
Regardless - you should simply talk about why you want to be in IB, the skills you are building at school and then over the summer at this role. That could be as simple as you wanted to take the time to explore other opportunities while you have the change, but long term are most interested in IB - and then insert all the reasons why. I'd probably use words like 'fast paced' instead of intense, but whatever works.
Makes sense. Current a sophomore but starting recruiting for my 2025 junior summer internship.
If asked, will frame this summer intern around taking a chance to see what it's like in a unique field.
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