Becoming an Associate...
Hey guys,
Before saying anything else, I gotta say that this board is awesome. I am not in finance, but thanks to posters like Genghiskhan, who have provided incredible insights, I have a better understanding of Finance and IB in particular.
Now my question, haha...
I plan to matriculate into an MBA program next fall. I submitted round 1 application, and have interviewed with 3 schools, all of which are among the seven top Schools. I got the nod from Kellogg (...yeah, it's not known for banking...) last week. I'll hear back from the others this week.
My post-mba goal is to be in banking. However, my concern is that I don't have ANY finance (or quant) experience.
If I do go to a school like Columbia, and if pass the CFA level 1 this June, do you think i'll have a shot at a banking internship next summer?
I'm not too picky about where I do my internship. (it doesn't have to be at an BB) I am all about getting banking experience,
so that I could maybe, somehow, use that to help me land a BB FT offer the following fall.
Is this game plan sound, or am I crazy?
Thanks!
You should be fine if you get into columbia and do CFA L1. Kellogg would likely get the job done as well.
If you have motivation to do banking, all the better. Crazy as it sounds, alot of people who get into the top banks are unsure about what they really want to do, and conflicts arise as they constantly map out their exit strategies.
Top banks recruit on top MBA campuses. Many people on this board have gotten offers having to network on their own with only a few interviews to speak of. Again, you would be in great position to get the job you want.
Thanks, Moneypoker! I was a bit concerned about my lack of experience. It's great to know, though, that I do have a fighting chance.
With that being said, will banks still be accepting Summer Associates (that is, at their usual rates) next summer? I'm a bit worried about employment climate given the effects of the subprime slowdown...
Also, I've heard that there are finance/ IB casebooks that I can work through. Any recommendations? (I've already read Wetfeet and Vault's IB guide)
You're the best, Moneypoker!
Side question:
Is completion of the CFA viewed favorably in the investment banking community? I'm a senior at a non-target and I have accepted an offer from a MM. I've passed L1 and am currently studying for L2, so I am sure my progress on the CFA played a role to one degree or another. Generally speaking, do banks care if an analyst has completed the CFA? Some say it is similar to a finance-specific MBA, but in my mind, it may create more confusion since the CFA is typically a HF/money management/sell-side analyst designation. Let me know your thoughts.
(sorry if this takes away from your main question, recedinghairline, but I believe it is relevant).
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