Masters in Finance to Move into Corporate Banking
Hey everyone. I'm currently working at a top FinTech company in sales. I've been in tech sales / tech relationship management for around 3-4 years now with some background in analytics consulting (1 year).
I started as a finance major in college (non-target) but switched into analytics, thinking that tech would fill my life with meaning in a way that finance couldn't. I've come to realize that the idea that tech is different than any other corporate job is a lie - but tech also has the added bonus of massive job insecurity due to layoffs as well as firings due to sales quotas that are set without much data to back them up (talented people will be placed in a bad territory and then fired due to poor performance).
I've always loved the technical side of finance and in my free time, I tend to read research papers in finance, economics, real estate, etc.
My current career path has been lucrative ~$225k total comp; however, the job insecurity and the inability to learn new things has been tough. I'm not looking for something that's massively intellectually stimulating but would like to be able to spend more time looking at numbers / data and have a bit more job stability.
I'm thinking about doing a masters in finance to try to pivot into Corporate Banking. I'd be fine starting over at around ~$90k as I've saved up a fair bit of cash. I'm happy to try to put my sales skills to work and network aggressively.
Do you think a top 15 MFin would be a good way to break into Corporate Banking? Or should I be thinking about this differently? Would only top 10 or top 5 make sense?
Thanks all.
Based on the most helpful WSO content, pursuing a top 15 Masters in Finance (MFin) could indeed be a viable way to pivot into Corporate Banking, especially given your background in tech sales and analytics consulting. However, there are a few key considerations to keep in mind:
Targeting the Right Programs: While a top 15 MFin program can open doors, aiming for a top 10 or top 5 program would significantly enhance your chances of breaking into Corporate Banking. These programs often have stronger alumni networks, better placement records, and more direct pipelines into banking roles.
Leveraging Your Sales Skills: Your experience in tech sales and relationship management could be a strong asset in Corporate Banking, where client relationship management is critical. Highlighting this in your applications and during networking efforts will be crucial.
Networking Aggressively: As you mentioned, networking will play a significant role. Start reaching out to alumni from your target MFin programs who are currently in Corporate Banking. Building these connections early can help you understand the industry better and position yourself for opportunities.
Program Selection: Look for MFin programs with strong placement records in Corporate Banking or related fields. Programs with a focus on practical finance skills, internships, and corporate partnerships will be particularly valuable.
Alternative Pathways: While an MFin is a solid option, you might also consider an MBA if you're open to a broader career pivot. MBAs from top programs often have strong Corporate Banking pipelines and could provide additional flexibility in your career trajectory.
In summary, a top 15 MFin can work, but targeting the top 10 or top 5 programs would maximize your chances. Combine this with strategic networking and leveraging your unique background to stand out in the competitive Corporate Banking landscape. Good luck!
Sources: Transitioning from tech to a serious finance job (yes, you read that right), Banking is hot again at top MBA programs, Transitioning from Tech Sales to IB, I got into an M7 (Wharton) with a pure sales background and now work in MBB. I wanted to share my experience, What I've learned so far after 1 yr at a top MBA program (If I could do it over):
Cant speak to MSF. If you network hard and self study financial modeling and valuation concepts, you have a chance of breaking into a corporate development team at a larger company with onboarding at analyst (as opposed to 3-5-person CD teams whose most junior hires are all dejected bankers). I would look at older companies in highly acquisitive industries with high deal volume and small deal size (parts of healthcare services come to mind).
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