Can people who don't really know finance break into IB and learn along the way?
Like sophomores recruiting for summer stints (2021), can they get in without knowing much finance/accounting at all. Maybe with just memorizing simple valuation.
A lot of schools don't even teach finance courses (upper div) until junior year.
Depends what school you go to. If you go to a HYP type school you can get away with not knowing as much finance as the Wharton/Stern kids.
A good chunk of interns don't know anything. They just memorize the interview questions & answers. Once they get the SA offer then they start preparing. They learn on the job and once they get the FT offer they spend more time preparing. I think VERY few people will go through both SA recruiting and the actual SA stint to come into the FT position with 0 knowledge of finance at all.
Lol I got my gig and all I did was cram the guides and talk well. Of course, I’ll be learning and reading books at a pace that by the time I get to my SA I’ll know enough to get by. But initially, no, we don’t know shit and probably won’t till later.
lol congrats! what's ur definition of enough shit? i've been cramming the guides too but it gets to a point where you need to know the concept to understand stuff. is there anything in particular you focused on?
I just read everything I could get my hands on, even if unrelated bro. Like distressed debt, Rosenbaum, Houlihan guide, etc. Read all those guides and you'll be Chad
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