Is IB the end all, be all? Say you go into corporate finance at a well respected firm, (think a top asset manager), will you have an opportunity later on to go into PE, VC or Corp. Dev.? Would an MBA be needed to make the switch? Looking for some advice if banking doesn't work out.
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IB is like getting accepted into a top 10 school.
It means you've been vetted as an intelligent, hard working, business minded professional.
Do you have to go to IB to do any of those you listed? Technically no. Same way you don't have to go to a top 10 school to be a president. But odds are extremely stacked against you.
Best bet is aim for IB, if it doesn't work, go to the most prestigous or difficult role you can. Then aim to get into IB or into one of those listed. Because those 90% who were bankers are going to want to hire those who also were bankers.
Self-selection OP.
Hope you are joking? Plenty of idiots make it into the analyst class pool.
They are the outlier.
And even still they are still most likely well above average.
They do, but do remember these "idiots" are idiots by IB standards. They are generally significantly more intelligent than the average person.
Depends on the bank. No offense to anyone, but at BBs there are always some idiots. At smaller firms where the hiring is more focused and interviews more technical, it's hard for those guys to slip by.
To OP: Banking is by no means the only way to go, but banking analyst programs are the post-undergrad positions that provide the most visibility into your immediate future. You know that as a banking analyst at a good firm, you will get interviews for buyside positions; whereas if you are in another type of role, you will have to find opportunities yourself.
Get experience at an operating company first if you want to go into VC.
Haha what do you mean average? I don't think we're here to think about how superior we are to our plumber. If you work at a BB and don't realize that there are people around you that are really sub-par then you're probably the idiot. I work at a great group at GS/MS/EB and there are both brilliant people and bottom bucket boys. Just like at top10 schools there are the idiots who party all day, everyday and only pass because of grade inflation and the brilliant people (though honestly the brilliant people don't go into banking, generally only the smarter ones do).
Is banking the be all end all of life? Hell no. If you want to go into PE or Hedgefund, banking or a solid consulting stint is almost a must but PE/HF are not the be all end all. Like seriously think about life and why you want to go into PE/HF/VC (if the answer is $ then really it's not for you). Corpdev is actually probable if you don't get a banking analyst job if you go the post-MBA route.
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