Hi all.
Looking for some feedback on my situation.
I'm currently an actuarial associate at a large financial services/asset management firm in NYC. I've passed a couple of exams, but haven't reached the associate credential (ASA). I've been out of college for 2.5 years now. I'm comfortable at my work, but feel like the path forward is not something I can see myself doing in the long run.
I'm considering applying for IB roles (summer internships for 2019 in Aug). I have a couple of friends working as analysts/associates at top IBs in NYC that would forward my resume, but even then they say my chances of landing an interview are slim.
It looks like my best options are: 1. Get an MBA 2. Network
I'm curious if anyone that has been in my shoes and can lend me some advice. Is it tough to switch from an actuarial position to an IB role? What can I do to increase my chances of landing an interview?
Thanks!
I would try networking super hard for 6mo-1yr and see if you can land anything. After that, the MBA path is tried & true from what I have seen, but it's the expensive option.
How to increase chances of interview: cold calling, have your network push your resume, & a little bit of luck (off-cycle is pretty random when need arises)
Thanks! When I network, what would be the best way to show my enthusiasm for the profession?
Be genuine about why you want to do IB & what you have done since deciding this is the path you wanted to take. Enthusiasm should come off naturally if you really want it! An actuarial assistant is obviously good with numbers so I'd focus more on fit (differs with every group/firm). If you're having difficulty landing interviews at the BB's, try MM & boutiques this is what I did to land an offer about a year out of college. Best of luck!
I would look specifically into FIG groups that cover insurance companies. Your experience in those groups would likely be valuable.
Thanks! I hear those groups are more brutal in terms of work hours than your typical IB M&A group. How would I go about finding companies that have FIG groups? Seems pretty specific.
Use the search function:
https://www.wallstreetoasis.com/forums/best-fig-groups
Every BB has a FIG group and there are plenty of smaller banks that do as well
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