How can I win

This seems so hard to do. I have had a slow progression in learning about the dos and don’ts of this industry. I’m now a senior with big dreams but very little tools.

My main goal for this post is to see if a career in IB is even viable for me at this point. I have thrown my whole summer at studying for this career path, but with my background I want to know if I’m bailing a boat with too many holes.

I have a decent GPA (high 3.6), I am a senior at a non target and was denied from our IB club here. I’m in a few finance clubs that offer interesting work but don’t relate to IB. I have one internship, and it’s in Fund Accounting with a big bank.

I just really don’t know where to go from here, and it’s really affecting my mental. My parents don’t even know what IB is, and they continually push me to get a government job with a pension blah blah blah (old school folks, I know). I have no real support group for this but I know I can fly so high. So, please help me. Should I try to get an analyst job for next year, and network like crazy in my last year? Should I get my MSF or MBA and try to break in that way? The last thing I want to do is throw in the towel on my ambitions and take this return offer for Fund Accounting, but would that be the smartest path?

Any advice would really help, I really appreciate you guys!

3 Comments
 

Based on the most helpful WSO content, here are some insights and advice for your situation:

  1. Networking and Job Search:

    • Network Aggressively: Continue to network with investment banks and other finance professionals. This is crucial, especially since you're at a non-target school. Attend industry events, reach out to alumni, and leverage LinkedIn to connect with professionals in the field.
    • Apply Broadly: Apply to a wide range of finance-related positions, including credit analyst, investment analyst, FP&A, etc. This will increase your chances of landing a role that can serve as a stepping stone to IB.
  2. Educational Path:

    • MSF vs. MBA: An MSF can be a relatively quick and cost-effective way to gain a graduate education, improve your network, and get another shot at on-campus recruiting (OCR). It can help you pivot to roles in banking, TAS, valuation shops, F500 rotational programs, and larger bank credit roles.
    • MBA Consideration: If you aim for a top MBA program (T15 or M7), it can significantly boost your chances of breaking into IB or management consulting. However, this path requires a strong GMAT score and relevant work experience.
  3. Internships and Experience:

    • Internship Strategy: If you feel you need more relevant experience, consider looking for unpaid internships or off-cycle internships that provide front-office finance experience. This can enhance your resume and make you more competitive for full-time positions.
    • Full-Time Analyst Recruiting: Focus on full-time analyst recruiting if you are in a one-year master's program. Smaller banks might be more open to hiring you through networking, even if you don't go through HR.
  4. Mental and Emotional Support:

    • Seek Mentorship: Find mentors who can guide you through this process. They can provide valuable advice, support, and potentially open doors for you.
    • Stay Positive and Persistent: The journey to breaking into IB can be challenging, but persistence and a positive mindset are key. Keep pushing forward and exploring all available avenues.
  5. Alternative Paths:

    • Fund Accounting Return Offer: While not your first choice, accepting the return offer in Fund Accounting can provide stability and a foundation to continue networking and applying for other roles. You can still pivot to IB or other finance roles later on.

Remember, many successful professionals have faced similar challenges and found their way into their desired careers through persistence, networking, and strategic planning. Keep your goals in sight and continue to work towards them.

For more detailed discussions and advice, you can refer to the following WSO threads: - https://www.wallstreetoasis.com/forum/school/msf-question-and-answer?cu…</a">MSF Question and Answer - https://www.wallstreetoasis.com/forum/school/msf-question-and-answer?cu…</a">Is Networking Better Than Doing A MSF Program?

Good luck!

Sources: MSF Question and Answer, Is Networking Better Than Doing A MSF Program?, Graduating MSF - no job, MSF Question and Answer, Move from back office to middle office to front office

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
Most Helpful

Just going to mention a few things based on my experience

  • IB Clubs: While getting denied from IB clubs might be tough, let me tell you that the only real advantage of them is getting access to the club's alum. Sure, it may make networking easier, but at the end of the day networking just gets your foot in the door. Once you're in the interview room, it's all on your preparation and self. Regardless if you're in an IB club or not, you still have to put in the hours studying technicals and whatnot. My point being, you can level the playing field by just working hard. Study on your own. Start a very targeted, consistent outreach grind your senior year. (Assuming IB is what you decide on doing)
  • You haven't even started your career blud, so don't worry about things not being viable or not. You have an accounting internship - that's enough to get an IB role. From my view the path of least resistance for IB is to target smaller/mm boutique firms. Become a great analyst and then lateral to a larger one a year later if that's what you desire.
  • My parents had no idea what IB was either. All they knew was STEM. You can use that as some weird form of motivation to "prove their mindset wrong." If it works out, then maybe they'll trust your decision making more.

Finally, I'd just point out, for normal people like us, that nothing worth having in life comes easy. Just follow your ambitions for now otherwise you'll always regret it. That might not even be IB - it could be anything. You've already identified and typed it out which is half the battle: "Should I try to get an analyst job for next year, and network like crazy in my last year?" Might as well do it at this point. Good luck

 

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