Corporate Finance prospects
Hey guys, so this might be a long shot, but realistically what are my chances of still breaking into Corporate Finance anywhere with the following profile? See below:
Bachelor’s degree in Economics and a minor in Applied Statistics from Syracuse University (a decent, but non-target uni in the U.S.) with a 3.586/4.0 GPA, a postgraduate qualification in Accounting & Finance from the London School of Economics & Political Science (LSE), as well as a MSc in Management (Finance major) from Imperial College London with Merit honours (equivalent to a second class upper honours)
Prior internships at a sub-Saharan African based bank called Ecobank in their investment banking division, at KPMG in their audit division, but now working full-time for a venture capital firm called Verraki Partners (formerly called Accenture), where I help build financial models for our clients, which enable potential investors determine the viability of our clients’ business models, prepare investment proposals, contract agreements etc.
Now my chances of landing a Corporate Finance gig in the U.S. are most likely slim to none just because I didn’t graduate from a target school, unless I get an MBA from a target, but do I still stand a chance of breaking into Corporate Finance in the UK or perhaps in a developed African market like South Africa?
I’m Nigerian, so bear work visa sponsorship in mind. Hope to hear from you all soon!
I think you're more than qualified to be a financial analyst, but sponsorship and coronavirus in U.S. may make things difficult.
As someone who is still in college, my opinion might not mean a whole lot but I honestly think you have a great background to get into corporate finance in the US. I attend a large Midwest state school and have an internship this coming summer with a F50 in their Finance development program. Clearly, it'll somewhat depend on what specific function you're targeting and the type of company but you have a wide range of experiences and have international work which always helps someone stick out.
I definitely think the current issue of the coronavirus makes any move hard now, as travel is restricted and I can imagine a lot of companies are in hiring freezes (in my personal experience/area there are).
One recommendation I can make is try reaching out to analysts/managers in companies you're interested in or roles you're interested in and talking to them about what they are looking for in coworkers and if they think you should pursue an MBA.
Hi Tochukwu-Ogbogu, I congratulate you on your academic endeavours.
We are in turbulent and trying times, a recession is about to hit. It may not impact entry positions but now everyone is xenophobic in a way as long as someone is human.
I would say don't give up and keep trying your chances but I don't see that it is because of you not having an MBA from target or something in that academic area that is causing your loss chances, but rather the global pandemic & economic situation that is thinning your chances.
That being said, I would say your venture capital job now is insanely awesome and definitely a "I would stay if I were you".
Why exactly are you looking for and what are you looking for in corporate finance? I would say you stay in VC now, maybe try breaking into PE or IB in future or even consulting after 3 years.
Stay those roles another 3 or 4. Aim for you corporate finance role then. You would have the overarching view of a business, how it works, bird's eye view. If you start in corporate finance entry level, sometimes you pigeon hole yourself into a role and sometimes the highest it goes is 1 facet of the corporate finance world, for example finance controller. Exceptional cases are all encompassing Finance Manager roles (which are tough cookie survivor roles). In worse case scenarios if you are aiming CFO, getting a commercial experience as a general Finance Manager after my suggested plan for 6 years is still not too bad and on-track to your plan to be a CFO in Corporate Finance.
I am assuming that is your end goal anyway. But if your role is any corporate finance role in the USA, then I would really have to say I have no purview on this and no one is certain about the economy for now. Not even the health experts as the pandemic is really exponential. And the odds don't look good. Models suggest 6 months. My bet is on 18 months.
Taking into account asymptomatic cases and the danger it spreads even if any lockdown is lifted, economic recovery is likely sluggish.
Ericthebarbarian Hey man, thanks so much for the kind words. Breaking into IB or PE or one of the top management consultancies - e.g.MBB after three years in VC sounds like a good plan, but bear in mind that PE might be the hardest to pull off just because many PE firms today typically seek top analysts from BB’s or from Elite Boutique’s or top 10 MBA graduates and require more technical & specialised financial modelling skills using the LBO approach for instance than what I’m being exposed to in the VC-related experience I’m currently getting.
Hence, I personally think breaking into MBB or IB as an experienced hire will be easier to pull off in my opinion just because of transferable experience creating income statements, cash flow statements & balance sheets based on various schedules and model inputs linked to these three financial statements, which I can easily talk about at the interview stage in any FO related bank role or in MBB. Thoughts?
Also is Equity Research a FO or MO role these days (Sometimes hard to tell)? That’s another role I’m seriously considering in the near future due to my solid writing skills, as well as my keen interest in analysing a company’s financial performance, as well as other internal/external factors that could positively/negatively impact the company’s stock price for potential investors.
This guy means IB by Corp Finance btw
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