Can I get into IB after getting a PhD?
Hello! I am a Physics student at a top UK university. I will start applying for Spring Weeks in London at IB this autumn (beginning of my 2nd undergrad year), since I am on a 4 year integrated masters course. I know that I want to end up in a high earning finance job, but I really enjoy my course and want to pursue my educational aspirations so as to get a PhD. This is more for my personal fulfilment and prestige, rather than being an "extra" qualification. I know that IB prefer to recruit people fresh out of undergrad, which means that there is no room for getting a PhD. I guess my two main questions are:
1) Is it possible to become an investment banker (M&A, deals, all this kind of stuff) after getting a PhD? Maybe being recruited as an Associate instead of an Analyst?
2) A route for PhDs in finance is to become Quant Traders at Hedge Funds. How does this role's compensation and growth potential compare to an investment banker's?
I've heard that quant traders are relatively under-paid compared to other positions at Hedge Funds/IB and that they do not get promoted. Also there is a lot of competition and only the most intellectual/mathematically skilled ones get hired. I would rather work as an investment banker in deals, since there is more room for promotions and I will get to interact with lots of people and learn how businesses actually work, compared to just stare at a screen all day.
With regards to IB you would be in the very weird position where you are very over qualified for the analyst job but you have now experience so you can't be an associate. I would argue it would be harder to break in as an anaylst from PhD then from undergrad/masters because it's such a hard sell.
Regarding quant stuff, they are some of the highest paid and their pay escalation is pretty well. This is only true regarding prop trading. What I think you're talking about is "quant" under S&T at a bank. This is completely different and what you said is now closer to the truth.
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