How to break into IB?
Hello everyone. I am a current sophomore, soon to be junior in college and my ultimate end goal is to end up in Asset Management / Portfolio Management.
I currently have an internship at an AM firm, and they told me while going straight into AM is doable, they usually recommend doing an IB internship and then transitioning to AM.
My question is, I know that the IB recruiting for junior summer is over already at least for my grade, so when does full time recruiting for the summer after graduation start? Is it on the same timeline as the junior summer recruiting? How should I prepare? Thank you in advance!!
Full-time Investment Banking (IB) recruiting for the summer after you graduate kicks off in the summer before your senior year, with apps and interviews hitting their stride in the fall. Since you missed the junior summer IB gig, this is your next shot. Start prepping now—network with IB pros and alumni, sharpen your technical skills like financial modeling and valuation, tweak your resume to flex that Asset Management (AM) internship and leadership vibes, and practice interviews to nail the technical and behavioral stuff. Your AM experience is dope and sets you up nice, plus an IB role can level up your skills for that AM or Portfolio Management endgame. Get on it, bro!
I had a question for you. I’m currently a IB SA at a small M&A focused boutique in a tier 2 city. My goals is to recruit FT into a solid MM in NY. Do you think that would be possible? I am currently doing a lot of industry research and will be put on a live M&A deal later on. Appreciate any advice/insight. Thanks!
Transitioning from your role as an IB summer analyst at a small M&A boutique in a tier-2 city to a full-time position at a solid MM investment bank in New York is feasible with strategic effort, as MM banks value skills like financial modeling and deal execution, which you’re developing through industry research and an upcoming live M&A deal. Despite the challenge of limited exposure in a tier-2 city, you can bridge the gap by aggressively networking with MM bank recruiters and alumni via LinkedIn and virtual events, targeting firms like Piper Sandler or Houlihan Lokey, and securing strong recommendations. Highlight your deal experience on your resume, apply early (ideally post-bonus season), and prepare thoroughly for technical interviews to showcase your skills and cultural fit. If direct entry is tough, consider interim roles at larger regional banks to strengthen your profile, but with persistence, your goal is achievable in this competitive field.
Pretty sure asset management is way easier to break into than IB
IB recruiting for full time roles begins at the beginning of your senior year. Given you will not have had the junior summer internship compared to your peers, I would recommend you compensate by knowing your technicals cold so interviewers don't hold the lack of experience against you. Fortunately, there are many prep guides to help you these days. Also, the AI tools have gotten really good (e.g. chatGPT, FinPrepAI) that they can round out your interview skills.
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