i'm 2 years out of non-target undergrad and looking to lateral into IB. currently working in a corporate FP&A role at a top tier software company, before that i was worked at a tiny muni-bond shop for 9 months before getting laid off. wondering if i should start networking NOW or just wait another year before i start looking into transitioning to IB. some points:
1) once i'm 3 years out of college, will it make it more difficult to get into an IB analyst program? by that time most people my age are already associates. will it be a much bigger disadvantage than being 2 years out of college (in other words, should i start networking to make the jump NOW rather than next year?)
2) is moving into IB in my position a good idea at all, or should i just wait until after B-school? in all likelihood, i will end up at a MM bank and be a 1st year analyst. if i stay where i am, i will likely be promoted to senior analyst in a year or so. will IB provide me enough of a boost in B-school app credibility to take the step back in career progression??
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right now i'm leaning towards sticking around in my current gig for another year before trying to make the transition to IB and want some input on whether or not it's a good idea.
thanks in advance.
(please note that the picture of Elmo and Katy Perry is unrelated to this post. i couldn't find a relevant picture so this will have to do.)
To me, it depends what kind of b-school you think you can get into. If I were you, I'd keep doing what I'm doing and apply to b-school for Fall 2012. Do your 2 years and look for IB associate gigs. I don't think having a year or two as an analyst will help you all that much when it comes to getting an associate role. If you jump in a year - that means you finish your analyst program at 27 or 28 then go to b-school? Too late. And it is a correct statement that it becomes harder to get an analyst role the further you get from undergrad.
Save the two years, apply to b-school now and then look for associate jobs. This changes if you don't think you can get into a top 20 b-school. Then, I'd look to get into IB now and skip b-school all together. And in this current environment, I think a well-known MM is a stretch if you're out of industry. I'd target regional microboutiques to get some experience.
Thanks for the feedback NestoGrande.
My #1 goal today is to get into a Top 15 b-school... not really looking to skip the MBA.
Anyhow, from what I'm hearing I think my best option is to continue to do what I'm doing and apply to B-school, although I will have to wait a couple of years due to lack of quality experience.
not happening
ahaha thanks for the hate bro!
0 banana points = 0 credibility
not too long after being laid off from my first job, i randomly scored an interview from an excellent BB group. i literally had to prepare overnight, crammed the Vault Guide to Finance and went in with no sleep and did my best.
i lost out to someone with 2 years of banking experience, but that interview really made me realize "holy shit i could have gotten that if i had prepared".
for me it's not an issue of whether i can land in IB gig. i have the network, personality, and technical knowledge to do so, even in this economy. whether or not it's the right move given my situation is a different story.
Definitely b-school. Your above post is ironic because right now you have 0 credibility at the top investment banks, despite any relevant work experience that you may have had (I'm saying this in the best way possible).
I would recommend b-school because you don't want to be starting off at the lower-end of the MM or regional boutique spectrum... it's kind of hard to gain mobility once you start becoming the muni bond or Piggly Wiggly LBO guy. Focus on getting into a top b-school with a strong brand name and you will see IB recruiting doors magically open. This was the case for many of the summers associates I've worked with over the past two summers.
solidarity... i think i remember you from the 48÷2(9+3) = ??? thread. i was convinced that the answer was 288 but you came up with some damn good arguments for 2 and i had to rethink my answer. i trust your judgement.
so it seems that it's better to put my dreams of IB on hold for a few years, as being an IB analyst would be a huge step back. thanks for all the advice... this is why i come to WSO.
on a side note, i'm a little disappointed that nobody has commented on Katy Perry's rack. pretty awesome, right??
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