Incoming LBS MFA 2026 – Best positioning for London recruiting (IB vs LevFin vs Private Credit)

Based on the most helpful WSO content, here’s how you can position yourself for London recruiting given your background and goals:

1. Sector Positioning

• Leveraged Finance (LevFin) and Private Credit/Private Debt: Your background in structured debt, project finance, and credit analysis aligns well with these roles. These sectors value candidates with strong credit and debt experience, making them a natural fit for you.
• M&A and Generalist Investment Banking (IB): While your profile leans toward credit-focused roles, transitioning to M&A or broader IB roles is still possible, especially with the LBS MFA. The program can help "reset" your profile to some extent, but your previous experience will still influence how recruiters perceive you. To pivot toward M&A, you’ll need to demonstrate strong technical skills, deal experience, and a clear narrative about why you’re making the switch.
• Buy-Side Roles: Directly targeting buy-side roles like Private Credit is realistic given your experience and CFA Level III status. However, many candidates still go through IB first to build a stronger foundation and network. If you aim for Private Credit directly, focus on developing strong investment pitches and networking with funds that value your credit expertise.

2. Recruiting Timelines and Entry Routes

• Summer Internships: These are the most structured and common entry points for roles in London. While some summer internships target candidates with less full-time experience, your profile is still competitive, especially for roles in LevFin or Private Credit. Highlight your unique experience and how it adds value to the team.
• Off-Cycle Internships: These are a great option for someone with your background. They are less rigid in terms of candidate profiles and often cater to those with prior experience. Off-cycle roles can also lead to full-time offers.
• Graduate Roles: These are another viable route, especially if you don’t secure a summer or off-cycle internship. Your LBS MFA will position you well for these roles, but competition is fierce, so networking and preparation are key.

Additional Tips:

• Networking: Attend as many networking events as possible, especially those hosted by LBS, target firms, and finance societies. Building relationships with professionals in your target sectors can help you stand out.
• Applications: Apply broadly to both sell-side and buy-side roles. Many BBs and EBs allow applications for multiple positions (e.g., LevFin, M&A, and other IB roles). This maximizes your chances.
• Preparation: Develop a few strong investment pitches or deal ideas, especially if targeting Private Credit. For IB roles, ensure you’re well-prepared for technical and behavioral interviews.

Key Takeaways:

• Your background positions you strongly for LevFin and Private Credit, but transitioning to M&A or broader IB roles is possible with the right narrative and preparation.
• The LBS MFA can help reset your profile to some extent, but your previous experience will still play a role in shaping recruiter perceptions.
• Focus on summer internships, off-cycle internships, and graduate roles, while leveraging networking and targeted applications to maximize your chances.

Good luck with your journey at LBS and the London recruiting process!

Sources: FT recruiting timeline London, Q&A: London L/S + event-driven analyst, London - Roadmap to FT and SA Hiring, Advice for London applicants