IB Interest in 1L
Just finished up at one of the best business schools in Canada with top-of-class marks and ECs. Tunnel visioned on law school during 3rd year so I never bothered with IB/PE/Consulting recruit. Fast forward, I am in my 1L year, but got really interested in banking over the summer. I have the option of continuing my JD at a top law school in Canada, dropping out (can get tuition back as of now) to spend a few months FT recruiting, or gunning for internships while in school that can convert to FT offers after the summer. Obviously harder to break in post-undergrad, but I have all the qualifications plus internship experience in wealth management. Would appreciate advice from anyone who's been in a similar situation.
Hey there! It sounds like you're in a bit of a pickle. You've got a few options here, and each one has its own pros and cons. If you're really passionate about banking, it might be worth considering dropping out and focusing on full-time recruitment. However, this is a risky move and there's no guarantee you'll land a job in banking, especially given the competitive nature of the industry. Continuing your JD at a top law school in Canada could also be a good move. Having a law degree could differentiate you from other candidates in the banking industry and give you a unique skill set. Plus, if you decide banking isn't for you, you'll have a solid career path in law to fall back on. Lastly, trying to secure internships while in school could be a good way to get your foot in the door in the banking industry. If you perform well, there's a chance you could receive a full-time offer after the summer. Ultimately, the decision is yours. Consider what you're truly passionate about and where you see yourself in the future. Good luck!
Sources: Talk me out of law school (HYS law), Banking to Law?, Q&A: HK IBD, Eng major, just did a summer in Consulting, want to switch to IB
This AI chatbot is (unsurprisingly) wrong. Having a law degree will make your recruiting more challenging in Canada because if anything they won’t know what level to place you at and you will be a ‘can this person model’ red flag. I’ve seen a handful of law associates transfer to IB, and I personally know there was a family connection involved for those specific people. Easy way to tell is also if you see UCC/Crescent/BSS/ etc on their LinkedIn.
You could do the JD/MBA and come in as an Associate, but there aren’t many seats for that and it’s mostly Rotman / Ivey people. If you drop out be prepared for an uphill battle because this market is really bad: depressed economy lowering feel pool, existing IB analyst supply high for laterals given CS / layoffs, and 90% of spots at major Canadian and US shops are filled through intern program.
Are you ok with working at a boutique? Maybe having initial coffee chats with Canaccord recruiting would be helpful - they also laid off a lot of folks recently but things can always change on a dime
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