Entering the field late
I am a 31 year old veteran currently working in healthcare. I'm getting my degree in finance and am curious what people think about joining the field late. I assume a large amount of the new analysts are new grads and I wonder what would be the best path for someone in my situation. Thank you in advance for your responses and if anyone entered in a similar route I'd love to speak individually.
It is possible - speaking from experience. You have a natural entry point as you are currently completing your undergrad.
Tbh, the advice would be similar to other non-experienced candidates. Apply everywhere. Get into as many pipelines as you can with diversity/veterans programs. Join your campus ib club, etc. I would suggest you craft a great "Tell me about yourself." You really need to have a compelling story as to why now.
How long have you been prepping? How strong are your technicals/behaviorals? When do you graduate?
I probably have two years left (I say probably because I haven’t been given an exact graduation date due to transfer credits). I have begun looking at material for the SIE and am doing everything I can to be as financially literate as possible. Do you have any input as to what I should be doing about direct experience as I’m not a candidate for an unpaid internship? Would you be willing to speak directly? (Anonymous email is fine if preferred)
I'd rather keep it public to help others in a similar situation.
I would focus on material that will help you in the interviews. The 400 question guide; WSO, BIWS, or WSP courses etc. Networking should become your third job.
Regarding internships, reputable firms will pay you. I would avoid the unpaid ones if possible, but one of these may open the door for you. I understand your hesitation about interning as you are working ft now. However, it would be in your best interest to at least attempt to intern in your junior summer.
The probability of entering IB is already low if you are a traditional candidate. As you fit that description less and less it becomes even harder. There are only so many analyst slots and the bulk of these will be filled by interns, then other analysts looking to lateral. Unfortunately, an experienced professional, with no finance experience is a long shot for ft recruiting unless you have a unique profile.
If you fail to get an IB offer, there are a multitude of threads on this site of other ways to get in. You can apply to MO positions, then try and transfer internally. The most straight forward path would be an MBA.
It will be a long next few years, but definitely doable. Network 24/7. I'm serious about it becoming your third job. Good luck.
MBA is the easiest and most well-trodden path for reputable firms
You can definitely enter. Yes, MBA would be more traditional. However, I think that the healthcare experience you have would be invaluable at the HC groups in banks. Consider what you did within HC (PPM, HCIT, DME) and you can find boutiques with specific focuses where you'll stand out.
Don't waste your time now with the SIE - firms will give you time to take it when you start full time and there's no value to having it now.
Focus on networking, GPA, and internships. If you have 2 years left you should be starting to reach out NOW for summer 2022 internships - recruiting season is fast approaching especially for veteran/diversity programs. Spend a few weeks getting yourself together (understand what IB is at a high level and come up with a good list of questions to ask people) and then start cold emailing. You have a shot but the recruiting window is coming up very soon.
MBA is an option, but given your age and that you're in undergrad still you should definitely try to get in now.
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