Does this industry give you multiple opportunities over various stages in your career? Looking for some perspective on the rat race, and not having the most perfect trajectory at the start.
I'm a final year undergrad in the UK, and I'm on my way to do an internship at a decent MM over the upcoming summer. The firm seems great and having interviewed at numerous other places, its people stood out to me in terms of how helpful and supportive they were. I interned at a bigger, better-known bank last summer, and didn't have the best experience, so I'm looking forward to this one, and hopefully it's a place where I can learn a lot and thrive. In short, things are looking good.
Still, every now and then, I can't help but wonder if everyone's pursuit for the biggest and best firms is valid, though? I'm still hunting for off-cycles and grad schemes, and more often than not, I see all these people with the craziest career trajectories, where it seems like they did everything right at the time where it mattered most. Got the most prestigious springs/summers, which they then converted, and then they moved to the buyside in a year or two, and seem to have risen the ranks since then. And it seems like it's harder to get to those latter points without having done everything right.
I'll be the first to admit that I'm young and don't have much perspective on this, which is what I'm looking for. But what I want to know is if this industry is forgiving of people who maybe took a little longer to find their footing, or who don't fit the stereotypical ideal candidate. I go to a target, where a lot of people devote their entire student lives to breaking into some of those crazy firms, and where you have a lot of people who come into uni with a very clear idea of exactly what to do and how to get there. They know people, have done high school work placements that get their foot in the door long before uni has even started, and tend to have a wide network of people who can support them. I've long since accepted that as an international student who doesn't study anything remotely close to finance, I can't expect to be on the same level playing field as them, and can only do my best to make the most of the opportunities and information I do have. Still, sometimes it gets to me that despite doing whatever I can, it may not be enough.
My uni is a very small bubble in the big world, where most people don't know about such jobs till much later in life. I'm really lucky to be where I am, and to have all these opportunities open to me, but I guess I'm still lacking the perspective that people who've been in the industry (and world) for longer could provide. Do opportunities keep coming? How did you make the most of the position you were in to pivot into something better, if at all? Is the pursuit for the biggest and best even as meaningful as it's made out to be to impressionable undergrads who don't know any better?
I guess I'm tired of being surrounded by people who act like not succeeding at even a single point of the process means you're basically fucked. Didn't get a spring? You're fucked for summers. Didn't get a summer? You basically have no chance for a FT role. While I don't deny that it's probably true to an extent, I guess I'm trying to ascertain how true and how helpful this kinda thinking is. I don’t wanna be one of those misinformed kids moaning about how I'm doomed for life because everything isn't sorted out for me at age 20.
Thanks in advance for your perspective, and a happy new year!
One thing I would add is that the rat race is mentally unforgiving. I grew up poor, crappy state school, parents never went uni etc. I am so far doing everything "right" like the people you mentioned. Straight A*s at GCSEs and A-levels, studying Economics at a target like a NPC, converted my springs and doing a summer next year at a GS/MS/JPM in IBD.
I feel like I have no clue what I am doing and how I even fluked getting here. I am living in constant fear of falling off. If I don't know the answer to your question, and I have been thinking a lot about what the hell I would even do if I didn't convert next summer. The pressure to keep up is crazy, sometimes I don't even know why I am working so hard when I could easily live on a 40K job and avoid the stress.
One thing I would say is to give yourself some grace, and think about life on a longer term scale. Also remember that there are people that would kill to be in your position
My experience after 25 years in the industry (and starting my career in arguably the most prestigious place around).
I see very little correlation between real success and where you start. If I look at the three most successful people I know in the industry, one had the stereotypical path and okayed it brilliantly, two had completely random paths.
Where there is near perfect correlation is that the people who have been very successful took the opportunities they had and killed it. They were the best at what they were doing, whatever it is. In fact, at a “lesser” institution, the impact of outperformance is far greater. The people that are making the most money in the City of London right now in investment banking rarely work at GS, MS and JPM (not even close by an order of magnitude). The people making the most money on the buyside rarely work at Blackstone, Apollo or CVC. My consistent encouragement to people starting out is to worry less about where you are and focus on being the best, adding value early, consistently and meaningfully and finding a seat that will allow you to excel rather than just the brand name. If you have that, you will be amazed at the opportunities that will open up to you because most people chase a brand rather than experience / impact. I’m
Is there an argument to be made that if you are confident in your ability to outperform, it would be better to start at a tier 2 firm? Or is brand value a key component in a person's ability to outperform once you are a senior?
I’d argue for a certain kind of personality (mine), where you’re confident in your ability to succeed, willing to work, don’t care very much for the approbation of your peers, being in a top performing group in a tier 2 firm is exactly where to start because you get the reps and can grow very quickly.
That said, there are so many variables - mentors, industry cycles, culture fit - that it’s impossible to say. My view is you take the chips you’re dealt, do as well as you can and seize the opportunities when they arise (and if you are a good performer they will arise).
I cannot emphasise the importance in excellence in whatever you do - it totally outweighs your starting point in terms of impact on your career.
The finance industry, while competitive, is not as rigid or unforgiving as it may seem from the perspective of a university bubble. Based on the most helpful WSO content, here’s what you need to know:
Opportunities Are Not Linear: Careers in finance are long, and the trajectory is rarely a straight line. Many professionals who didn’t start at the "biggest and best" firms have still gone on to achieve significant success. As highlighted in WSO threads, even if you don’t land the perfect role right out of university, there are plenty of ways to pivot later. For example, roles in corporate finance, FP&A, or even strategic finance at startups can serve as excellent stepping stones.
The Industry Values Persistence: The idea that missing one step (like a spring or summer internship) means you're "fucked" is overly simplistic. Many professionals have shared stories of breaking into finance later in their careers, often through networking, gaining relevant experience in adjacent roles, or pursuing an MBA. The key is to keep building your skills and network, even if the path isn’t traditional.
The "Biggest and Best" Isn’t Always the Best Fit: While prestigious firms can open doors, they aren’t the only path to success. Many people find that smaller firms or less traditional roles offer better learning opportunities, work-life balance, or alignment with their interests. As one WSO thread mentions, the pursuit of prestige can sometimes lead to burnout or dissatisfaction if it’s not aligned with your personal goals.
Networking and Storytelling Are Critical: If you don’t have the perfect trajectory, you can still craft a compelling narrative about your journey. Highlight what you’ve learned, how you’ve grown, and why you’re passionate about the field. Networking effectively and being able to tell your story can often outweigh a less-than-perfect resume.
Play the Long Game: Think about where you want to be in 5-10 years, not just the next step. As one WSO contributor wisely pointed out, the career is a marathon, not a sprint. Focus on building a strong foundation, even if it means taking a less glamorous role initially.
Perspective Matters: It’s easy to get caught up in the competitive mindset of university peers, but remember that the world is much bigger than your immediate surroundings. Many successful professionals didn’t follow the "ideal" path and still achieved their goals. The key is to stay focused, adaptable, and open to opportunities.
In summary, the finance industry does offer multiple opportunities at various stages of your career. Missing one step doesn’t mean you’re out of the game—it just means you might need to take a different route. Keep learning, networking, and staying resilient, and you’ll find your way.
Sources: Low GPA success story, How to make it into Investment Banking, the South African perspective, Where do the IBD Rejects go?, Finance Career Path & List, The Allure of Investment Banking
What's the update on the suicide process you said you're working on?
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