Hi All !
I wanted to ask, is it possible for folks to break into IB without finance degree ? I.e non-quantitative. I’ve seen people break in (quite rare tho) with business management ? Any further advice or help would be greatly appreciated!
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Ah, the age-old question of breaking into the high-stakes world of investment banking without a finance degree. It's like trying to swing through the finance jungle without the usual vines, isn't it? But fear not, it's not all bananas and monkey business; there's hope!
Based on the most helpful WSO content, here's the scoop:
Non-Finance Degree: It's not common, but it's not impossible either. The key is to demonstrate that you have the skills and the drive to excel in IB. You'll need to be a bit of a chameleon, adapting your skills to fit the finance environment.
Networking: This is your golden banana. Connect with professionals in the industry, attend finance-related events, and don't be afraid to reach out to alumni or professionals on LinkedIn. Your goal is to build relationships and get your foot in the door.
Relevant Experience: Try to gain experience that can translate well into IB. This could be through internships, part-time jobs, or even relevant club activities if you're still in school.
Additional Qualifications: Consider certifications like the CFA or taking finance-related courses to show your commitment and understanding of the field.
Skillset: Brush up on your Excel skills, financial modeling, and understanding of financial statements. These are crucial for anyone looking to break into IB, regardless of their degree.
Storytelling: Be ready to tell a compelling story about why you're interested in IB and how your background, while different, makes you a unique and valuable candidate.
Remember, it's about showing that you can hang with the finance troop even if you're coming from a different part of the jungle. Keep swinging, stay persistent, and you might just land that coveted spot in investment banking.
Sources: Breaking in without any degree, Is investment banking not as prestigious as most people think? Are kids that break in sub-par?, 22 Year Old Failure Seeks Advice re: Breaking into Finance, How to break into investment banking for non experienced, Undergrads: Non-finance, non-target, not a problem. 5 Steps to get you started.
Speaking of the UK, I've seen such people but only from targets, usually Law at targets or some humanities if we talk about Oxbridge. I guess there are some outliers here and there, but I have a non-quant degree from a lower semi-taget and didn't get any traction with that... there are just "better" candidates applying so why would they take someone with no quant skills to work in IB, especially M&A/trading. That's the truth imho unlike what some banks say. Like I attended some webinar and they told that they accept all candidates, even with an English lit degree but no one added that you'll only get traction with an English lit degree from Oxbridge.
Honestly the only non finance degrees I see break into IB or top roles are T15/Ivies Maybe Econ degree.
Honestly you can break in with any degree. Believe it or not I’ve met someone who did his undergrad in music at Cambridge and now works at RBC as an Equity Research Analyst. Degrees like philosophy and history can also be somewhat useful (builds logical thinking), but I would recommend having very strong extra curriculars related to finance (M&A Societies, completing courses, opening your own trading account, writing your own equity research report).
If you’re motivated enough could always do an MSc Finance from a target and break in from there or work in a different industry get an MBA and transition back into IB. A lot of people I work with have degrees with non quant backgrounds so you can definitely break in. I don’t think it necessarily holds you back either.
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