IB vs AM Applications in 2nd Year – Best Strategy
I'm now a 2nd year student at UCL and I definitely want to focus on IB. However, is it also a good idea to also to apply to AM roles if I am interested in AM especially considering how competitive IB is (although I'm sure AM is very competitive too and IB>AM in terms of my interest). The main considerations are the extra time taken to tailor your CV, technicals, commercial awareness, interview preparation for AM as well as extra demand in expected 2nd year workload. Have I pretty much outlined that it's better for me to focus on IB solely? P.S: I didn't land a spring in 1st year :(
Based on the most helpful WSO content, here's what you need to know:
If your primary interest is IB and you’re confident about pursuing it, focusing solely on IB applications might be the most strategic move. IB recruiting is highly competitive and requires significant preparation, including technical skills, commercial awareness, and networking. Given that you didn’t secure a spring internship in your first year, doubling down on IB could help you make up for lost ground and improve your chances.
However, applying to AM roles as a backup could be a smart hedge, especially since AM is also competitive but may have slightly different requirements. The key consideration is whether you can manage the additional workload of tailoring your CV, preparing for AM-specific technicals, and staying on top of your 2nd-year academic demands. If you feel stretched too thin, it’s better to focus on IB to maximize your chances there.
Ultimately, the decision depends on your ability to balance preparation for both fields without compromising your performance in either. If you’re leaning towards IB but still have an interest in AM, you could selectively apply to a few AM roles that align closely with your interests and career goals.
Sources: Q&A: West Coast Tech IB Analyst, https://www.wallstreetoasis.com/forum/investment-banking/m7-ib-associate-full-time-recruiting?customgpt=1, Asset Management vs Investment Banking 101, A Guide for Switching From Commercial Banking to Investment Banking, Reconsidering banking after receiving offer... help?
No spring = can’t be picky.
Having NO work exp before Y3/grad is SO much worse than having less ideal experience.
Firm the grind for the next 1-2mos. Catch up later. Seriously
Appreciate your help, looks like it's time to grind indeed
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