After MBA it may not seems as the smartest decision but with zero finance experience and huge desire to start career on the investment side (PE, HF, VC), IB is a necessary bridge to all those roles.
Well, I am concerned with two things: is it possible and whether it makes sense?
Thanks.
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My guess is that it will be easier for you to obtain a post-MBA ib role and recruit to the buy side after a few years as an IB Associate than it would be for you to recruit to IB as a post-MBA Analyst.
Personally, I'd prefer Associate role but it requires at least some experience in IB, which I don't have and it doesn't seem like I can get it. So I thought that going to the bottom of the food chain would be the only feasible way.
It doesn't require IB experience.
I guess it depends on what school you're getting your MBA from. A lot of people have gone into investment banking without a traditional finance background
Post-MBA Associate roles do not require IB experience. Some of them do not even require previous finance experience.
A couple of questions?
Have you already finished your MBA, if so when did you? Why didn't you take advantage of any summer associate opportunities?
How many years fo work experience did you have before starting your MBA and in what field?
Is your MBA or Undergrad from a target or non-target and if so how much of a non-target (have you reached out to alums of each to network?)
How old are you (don't have to be specific but give a range)?
Thanks
To be blunt having already graduated from an non-target MBA program without any prior finance experience, IB might be past your reach. Don't be too upset or beat yourself up because (despite what you might think after reading this forum) there are tons of wonderful careers paths (which could lead to an investment side position, albeit probably more non-traditional that Megfund PE) that dont involve IB.
If you are dead set on IB, I think there could be opportunities at a small shop. This would require a lot of networking but I think you could get a foot in the door at a small shop (20 people or less) and use that to lateral to a better spot.
I’d agree that BB and most MM as of now would be outside of your reach.
Thanks everyone for your comments!
You wouldn't be recruiting for analyst positions out of an MBA program. Banks recruits MBAs for associate level positions and generally don't require any prior banking (or finance for that matter) experience. Most of the top banks only recruit from a handful of target schools, so it would be difficult (but not impossible) coming from a non-target school and definitely require a lot more networking on your own. That being said, it's a lot harder and less common for post-MBA associates to make the jump to the buyside compared to analysts. You typically see more exits into corporate development, internal M&A, etc. than PE/VC/HF.
internal M&A, etc. than PE/VC/HF - eventually, that's where I'd like to see myself but I highly doubt it is a SMART goal (problem is "A"-achievable). From the information I have, these companies want candidates to have at least some exposure to investment, at best IB. I don't even have finance background, except for my MBA classes and desire. I thought it would be possible to start at the bottom and make my way up - that's why I created this topic. Bottom line: I am just seeking an advice how could I get to PE/VC/HF or M&A.
Why would you go from riches to rags?
Please, see comment above.
totally fine if ur mba is from a lesser-known school. usually at boutiques or mms though, bbs may not consider ur as an analyst unless ur at a small regional office i.e. charlotte atlanta
if ur mba is from a top school, go thru the regular recruitin channels and get in as associate
At this point you probably need to look at associate over analyst roles either way. Post-MBA and 30+ is a hard sell for an analyst position unless you have a fantastic story.
First: Decide how much time you want to spend on your search and how badly you want IB and the chance for the buy side. Then get the WSO interview guide (not hawking WSO wares here but it’s good — used it at b-school as it was a huge efficiency boost). Know it cold. If you don’t know the basics all the hard work you’ll put into pounding the pavement and networking will be for naught once someone asks you a remotely technical question. Learn the jargon cold. Use it. Use the guide to also help you craft your story. Story is 95%+ of your pitch here. It has to be interesting, logical, and at least somewhat reasonable.
Then pound the pavement. Target small, boutique banks. Start reaching out to everyone, cold emailing, calling, etc. Search job posting and LinkedIn to expand your network. This should become your second job. I frankly, I wouldn’t be surprised if this step takes months.
Look, it’s possible. But the jump from a (likely) very small boutique to PE/VC/HF will be very difficult yet again. But yet again, it can be done.
What type of role do you have lined up? It could be easier to get into VC or M&A from there, for all we know.
Well, nothing so far except for tech industry, which if I start, I am afraid I'll never move to IB/PE/VC
If you want to be an investor coming from your current background, take the best job you can get (maybe it's the one in tech) and add value to your firm. From there, you can move to the operational side of a VC.
Analyst Program POST-MBA (Originally Posted: 04/10/2016)
Hi Everyone!
I have a simple question, which I haven't been able to find any old threads about here or elsewhere. First, just a little background:
I come from a small city in Canada, and as I don't live in Toronto, had almost no shot of getting into an analyst program out of my undergrad. I did however get very good grades, and also expect to do quite well on the GMAT once I'm done my CPA (currently working at a Big 4 accounting firm). I have a basis to expect this after getting >95th percentile on the LSAT, though of course I expect to have to dedicate significant time and energy to that as well. As such, it is my plan in 2-3 years to apply to both top MBA programs here in Canada (I've been accepted to them all after applying to the joint JD/MBA programs; but decided now wasn't the right time to go do that), as well as the top 7-10 programs in the US (unsure about probabilities here, but I'm optimistic).
My question to you guys, is that I have read a ton about how the "norm" coming out of an MBA is to be hired as an Associate at IB firms. I have also read a ton about how this creates a weird dynamic of Associates who are often career switchers (as I would be) managing analysts who are often more technically sound and familiar with the business than their associates. I also understand that many analysts do 2 years and then because of their technical skills have the opportunity to either move to PE or other buy-side roles, or go do their MBA. I frankly like the idea of being an analyst and then having the opportunity to exit or be promoted more than I like the idea of coming in at the associate level. Basically, I want the experience of being an analyst to better set myself up for whatever path I want to take.
So - is it at all possible to go into an analyst program post-MBA?
no
the only time i've heard of people being analysts after an mba is when they went to go get an MBA directly out of college.
Thanks for the input, bankingptsd - it strikes me as odd that this isn't an option, although I guess you've gotta play within the confines of the established course. Thanks again.
Why not an MFin? If I'm not mistaken, I'm pretty sure that MFin grads start as analysts if they're hired into IB roles. You could also get an MBA down the road after graduating from an MFin program.
I've definitely looked into the MFin as well; but got a bad impression off the bat. Are IB firms pretty friendly in terms of hiring from MFin programs? Thanks for the input - appreciate it.
Just ask for a transfer asap to the TS/TAS group of your Big4 and lateral to IB a year later (very common in Canada)
Thanks - I've certainly heard of this path as well and will continue to look into it. When you say lateral to IB; are you referring to an IBD of Big 4? Or is it common to go Big 4 TS/TAS --> IBD of one of the big banks?
Applying to Analysts Postions AFTER MBA? (Originally Posted: 09/23/2010)
Hi,
This might be a weird question, but has anyone heard about people who apply for analyst positions after getting their MBA? I was wondering if maybe people who have never worked in banking before and those that don't think they are competitive enough for associate positions can apply for analyst positions? It might make sense because even analysts should earn more than their experienced hire positions at a F500, plus they can still move up to associate and then move on after a few years.
You will not be considered for an analyst position once you have an MBA. This is true for almost any bank. Unless you went for your MBA straight out of undergrad, you're out of luck. It's associate or nothing.
No. And the ones that do are tools. My ug wasn't even close to a target but had a few sympathy recruiting stops from alum just for analysts. Our MBA's (which is atrocious) always were trying to get in on mix. Lame.
only if you sub-matriculated, as compbanker noted
Analyst position post-MBA? (Originally Posted: 02/26/2012)
Buddy and I are in a part-time MBA program (think top ~15 program at a state school; full-time rankings) and he decided to accept an offer from a MM firm before campus recruiting began last fall. Here's the catch: it was an analyst position (he did some valuation work before bschool).
Perhaps it is because he hasn't finished his MBA yet, but to skip campus recruiting was something I found odd. Then again, he was one of few part-timers to get a banking offer so I can't really judge (though I'm interested to see what happens when he graduates).
This just doesn't make sense to me; anyone else go this route? Thoughts?
Quite common in Europe.
It makes sense if he wants to do banking and that was all he could get. Does it suck though? Yes. To get your MBA and then not be able to start at an associate role is a blow for several reasons. He should try and leverage into a FT associate somewhere else.
IBD Analyst Post-MBA? (Originally Posted: 06/08/2016)
A little background: I'm currently a rising second-year MBA at a non-target school with a 3.8+ GPA with no previous investment banking experience. Prior to attending business school I managed a book of business ($100MM+) for a financial planning firm for three years and passed the first two levels towards the CFA designation. My undergraduate degree is in Systems Engineering and Financial Economics. I'm currently interning at a startup biotech firm developing economic and financial models and have a previous PE internship focusing on the healthcare industry.
I'd like to get into investment banking from the ground floor so I can fully understand every facet of how the industry works. Is it unheard of entering investment banking as an analyst post-MBA? I will be 27 when I graduate. Any thoughts or suggestions would be appreciated.
Usually the only people that join as an analyst post-MBA are people who went to a MBA program directly after undergrad.
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