Advice for a senior who recently decided to puruse IB
Hello all, I'm a senior at a top U.S. school, think Harvard, Yale, Stanford, studying liberal arts and minoring in math. For the longest time I wanted to be a teacher, but that recently changed. I'm cramming for these technical interviews by going over the 400 questions, speaking with alumni from my school, and cold-emailing middle market investment banks. I'm worried that come January or February these firms won't be hiring new grads anymore. Your advice on my position would be greatly appreciated. I'm not sure if I'm too late to the game, and I should prioritize wealth management, or something similar, and work for a year to then switch to IB. Thank you for reading.
Imo your best bet is to delay grad by a year/semester. Try to find something IB-related for this summer (I see summer analyst listings at some MMs and balance sheet banks pop up every few weeks) or something in finance, then do full-time recruiting next fall. Shouldn't be super hard given your school. This is probably your most straightforward way to get into IB since it's very late in the game for full-time hiring, plus I know of a few people who did BB/EB this summer that didn't get return offers and are still looking for something FT.
Thank you for your comment. That is a pathway I hadn't considered. So I would not go to school in the spring, and try to find a spring and summer gig or just summer? And then return in the fall for one semester?
You could do that, or just add a minor so you'll have a reason to explain why you delayed grad for a year/quarter. If you could find something in IB or PE for the spring that would be great, which you'd probably have to find at a smaller boutique place where there are alums, and there isn't much time to plan for something like that now.
Most notable MM 2025 IB SA positions are done recruiting, so for summer 2025, you'd also probably be looking to work at a smaller boutique as well.
I'm also not sure what the timeline is for getting summer analyst roles at a MM. Would I still be able to in the new year for summer 2025? Or should I be grinding out applications and cold-emails now? I'm currently studying hard, so I don't think I would pass the technicals for at least 2-4 weeks.
Did you try reaching out to Ken D? Was super helpful for me and I managed to get in as a senior from a semi target
Who is that?
Ken I drag Deez nuts across your face lmfao
Not too late to the game.
Small boutique IBs may offer a near-term path given the timing. If you have connections into small boutiques, start with those connections and see what they say. You'll need to explain why you've made this decision and why now. You could lateral to a bigger IB after a year if you decide to.
Sounds like teaching is out of the question, but in the event it's still something you might do, just know that I've seen folks spend a few years teaching and then transition to IB. Have seen a number of folks who spent time with charter schools, Teach for America, etc. for a few years, get into an MBA program, and use the MBA to get a summer associate role at large IBs.
Thank you, that’s good advice. It’s also good to know that teachers have made the switch. Would it not look bad to a bigger investment bank that I only stayed a year with my first one? Would I need a reference from my previous employer? Obviously, I’m not yet sure how this industry operates.
Will look bad/questionable to some if you lateral after one year with a firm, but it's become fairly common. And the folks in the bigger IB will know that as an analyst you're looking to lateral after one year for better pay, expanded skill-set, bigger deals, more diverse deals, etc. The IBs you interview with for lateral roles may indeed ask for references, but they'll also understand if you choose to provide references from other work experience outside of the current employer. That said, some might back-channel with your existing bank (i.e., without you knowing that they're talking to your current employer) to see how you're doing there. But usually, a strong IB interviewer can tell if you're good based on your work experience and how you conduct yourself during the interviews. One other thing to keep in mind is that if you join a boutique, you'll probably have colleagues who end up leaving the bank before you do - if they see your work during the overlapping time spent at the boutique, then they can be good references (and they're no longer working at your firm, though they might tell others in the firm that you're looking).
congrats on stanford
I appreciate that, potentially. Mind to share why you think Stanford?
It’s usually HYP
Why not MBB as an alternative? Going to HYPS as a senior, it might be the easier option.
FT hiring for MBB and T2 has wrapped up
It's gonna be tough sledding. 99% of full time hires come from the internship program
Congrats on Cornell!
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