Am I too old to break into banking at age 33?
I graduated from the University of Miami (I'm from California) with an Economics degree back in 2013 with hopes of landing a role in IB , which was quite a lofty goal coming from a non-target, but I was quite young and naive at age 23 and I thought that it was possible. At the time, I thought that with proper networking, I could potentially weasel my way through. Consequently, I thought that by completing as many internships as I possibly could, I'd manage to eventually land a full time role; however, my parents, at the time, were using me into medicine, and I gave in and listened to them.
To give you greater clarity into my situation, my timeline is as follows:
May 2013: I graduated from the University of Miami with a degree in Economics.
July 2013- August 2013: I attend a three week long course on financial modeling and valuation through the Investment Banking Institute in New York, as I had thought it would strengthen my candidacy for a prospective role in IB/Management Consulting.
August 2013- December 2013: I approached an internship placement company- Dream Careers (now defunct for obvious reasons)- with hopes of the internship turning into a full time role; however, I turned out to be massively disappointed to find that I would eventually be cheated out of my money. Before I had made the payment of $7K, I was lured in by false promises of placement into a prestigious role as an analyst at Expand Research, a consulting firm; however, when I arrived to New York, I was dismayed to find that the role had already been filled and that I was placed into a securities firm that failed to provide me with adequate experience that I needed to progress in the finance industry, i.e. they did not sponsor me for the Series 7 exam.
December 2013: I returned back to L.A. and did an extensive search of finance firms with hopes of eventually landing an internship which I did at a boutique investment bank in Santa Monica.
April 2014-June 2014: I was forced to work 80 hour work weeks without pay all for the sake of networking myself into the finance world.
August 2014: My parents pressured me into medicine, so I eventually undertook a post-bar program at Columbia where I satisfied the requisite coursework for medical school. Two weeks into the program, I was robbed at gunpoint and I flew back to LA.
January 2015: I rejoined Columbia.
July 2017: I finished the program at Columbia.
July 2018: I sat the MCAT.
August 2020: I was accepted into Georgetown University School of Medicine, but didn't attend because my parents dissuaded me from joining, they kept using COVID and medical school debt as excuses to keep me from going, so I let the admission slip away from my hands. I know that I was a massive idiot for listening to my parents, and now I'm paying for it.
February 2022-August 2022: I completed the necessary coursework and passed the state exam to become a licensed real estate agent in the state of California, not that I think that it is a commendable feat, as anyone with a pulse can pass the exam.
Now: I find myself in a massive predicament, which I need to find a way out of because I cannot continue living my life like this. I have chalked out a timeline to keep as many doors of opportunity open so that if one shuts on my face, I'll have the other one open.
I know that my prospects of securing a role in high finance are bleak; however, what chance, if at all any, do I stand in Investment Banking at at age 33.
.
MBA is your only chance. Or you can apply again for medical school.
I need work experience for MBA, and that too, at a blue chip company.
Not to sound like a debby downer but tbh a top MBA is a a long shot with a shit career like this, non-target undergrad doesn't help either. Might be best off reapplying to med school..
You could be right. I appreciate your honesty.
anyone can make it. As a mater of fact, the older you are, the more intentional you're with your actions so you'll be taken more serious in interview.
so the harder aspect to swallow is if you would want to spend your 33-~40 years old in banking which will leave you with much less (almost none) time for other responsibilities (dating, raising a family, etc.).
A doctor’s life isn’t any better my friend. In fact, a majority of doctors I know are bitter, overworked and underpaid.
wtf is this? you got robbed at gunpoint so you flew back to LA?
I got robbed a gunpoint, flew back to LA, and returned the following semester.
Definitely need to change your story and not bring up almost everything you mentioned to anyone in IB while networking. But I know of a handful of late 30’s to 40 year olds that became ibankers after getting their mba.
Is there something wrong with my narrative that I shouldn’t mention to anyone in IB?
yeah man. it's not a good story and shows that you are someone who quits easily and can not be reliable. definitely change up the story but anything is possibleeeee
Too long didn’t read. I was 33 when I started IB after getting my MBA, not sure why you wouldn’t be able to. There’s another guy who was 35 years old who started at the same time as I did, also an MBA associate
I need to get into a top tier MBA program first, and for that I need to have at least 5 years work experience at a blue chip firm, which I don’t have; so I don't see an MBA happening quite frankly.
I’ll need to start at very bottom by working as an an analyst at a boutique, if I’m lucky enough to get that, and slowly lateral my way into a more prominent firm.
Assuming this post isn’t a joke, think rationally about this for a moment. Why would any firm hire you as an analyst over a 22-year-old from a good undergrad program? There’s no need to - they wouldn’t. Pick another path.
what firm? what was your career track?
You people are brainwashed seriously. You are to old for your parents to make your life decisions. You don't have to go to school for this seriously. Its mind blowing people really think this. You need street smarts and know people. I haven't been to school but own my own investment bank. Seriously I learned from reading a book and found my own clients. Life to short here today dead tomorrow.
I’m pretty sure I saw the same post in verbatim either here / Reddit a year ago, pretty sure it’s the same person posting. Unfortunately doesn’t seem to be a troll post, just delusional.
Basically OP has been living off his parents since graduating college 10+ years ago and never held a real job. The med school story / general timeline doesn’t pass the smell test and OP got called out for it in the old thread.
I remember because the thread blew up and it was entertaining to read - seems like even a year later, nothing has changed. If anyone still has the post, please link me.
How could you possibly say that I’ve never held a real job when I’ve just explained my entire narrative and timeline in great detail?
How could you say that the “medical school story” doesn’t pass the smell test when I have just explained in great length?
it seems as if the one with issues is you, as you need to consult a psychiatrist.
hey man dont get defensive rn but saw the reddit post too and i recommend therapy or some deep change of mindset. may sound corny but listen to some David Goggins or sth. More importantly, you need to get to WORK. literally just do anything because working can boost your confidence and self esteem. also don’t be to perfectionist in this position. you should try starting in entry level jobs and then either climbing the ladder or lateraling to another position. I believe in you.
If you actually end up reapplying to med school, I pray to God you are never my doctor.
I just started in IB as an associate and I’m 36. I worked for 8 years as a teacher, then 2 years as a broker, 3 years in CRE now in a REGAL IB group. You can do it
what firm? what was your career track?
I started the associate role at 35, became VP at 39. Everyone moves at their own speed
what firm? what was your career track?
wow - what a story. Interesting.
So, in Europe (or with European employers) you will see slightly older candidates starting out, they might be 25-27 in the worst case.
If you have some kind of structured plan, it might not be impossible. The job market itself is also a challenge, not just your age.
I'll be blunt. This is one of the worst profiles of any college-educated person I've seen, in finance or otherwise. Despite being out of school for a decade, you have effectively no work experience and have spent a lot of time pursuing every endeavor in your story only to give up and pivot to something completely different. What have you been doing for money??
In 10 years, doctors finish their medical studies, complete their residency AND fellowship. In the 10 years since you received your undergrad degree, you've been a "career student" but have literally nothing to show for it. Your lack of accomplishing anything over 10 years is borderline absurd. What the hell have you been doing with your time?
This must be a troll. If it's not a troll: forget about IB/finance. Work consistently for a period of at least 2-3 years, ideally with one employer, starting at the entry level in a field where you have the most schooling (science/medicine?). Demonstrate that you can at least be consistent with SOMETHING in your life. Then afterward you can reassess if you want to continue climbing the ladder in your industry by lateraling to another firm or if you want to pursue an MBA for a career change.
Despite being out of school for a decade, you have effectively no work experience and have spent a lot of time pursuing every endeavor in your story only to give up and pivot to something completely different. What have you been doing for money??
Have you not read my entire narrative? Did you not read that I was forced into medicine by my parents, and I didn't have a choice in the matter? Did you not read that I applied and was accepted into GUSOM but wasn't able to attend due to COVID? Honestly, are that daft that you can't seem to comprehend a simple narrative?
If you have nothing positive to say, then please refrain from saying anything at all.
Yep, you got me on this thread. 9.5/10 troll.
I know people transition to IB in 30s or close to 40. PHD or MD or JD, industry a couple of years, MBB a couple of years, ER, then directly hired as VP.
Would I need an MD/JD to transition into IB?
Anything is possible, if you really want to do finance then better late than never. I wouldn’t take the lack of placement success you had with those two education/placement/whatever groups as a negative sign since they’re really just money grabs, would focus strictly on job applications, interviews, and coffee chats with people who are in the position you would like to land. No course or degree is going to just give you the spot you want.
Would also create a narrative around learning during your past decade of experiences and how uncovering what you didn’t want to do led you to discover where your true interest are. Best of luck!
I wouldn’t take the lack of placement success you had with those two education/placement/whatever groups as a negative sign since they’re really just money grabs.
Absolutely, I completely agree with you. Even an MBA is a money grab, in my opinion, as there is still isn't any guarantee of securing an IB role.
The problem is that I don't even know where to start.
There’s no way I’m reading your rant and you should have ChatGPT make your paragraphs concise.
You’re only limited by your own ambitions and ability, not your age. The KFC founder didn’t get started until he was 62
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