Is breaking into IB possible with an unrelated Bachelor's?
Hello,
I am a senior at the University of Minnesota-TC and am graduating in the spring. I will have a degree in journalism with lots of internship experience and great gpa. I am interested in pivoting into finance, particularly banking, but don't really know how feasible it is with my undergrad degree. Does anybody have any insight into the Midwest scene for IB? Boutique, LMM, MM, etc.
I am also considering a MSF at the Carlson school of management, which is a 16-month program that allots time for an internship. I am currently finishing up a business management minor as well, which I have enjoyed.
Basically, is there any real shot of working my butt off to find my way into an IB role post MSF, or are my chances shot?
bump
Yes totally doable. Plenty of non-finance and business people in every bank. But if you’re a senior and started recruitment at all now, your chances of breaking in as a new analyst is pretty slim. Get a few years of experience and then do an MBA is probably the easiest way
So even with recruitment during and post MSF, analyst roles at smaller banks probably isn't doable?
A role at a local/regional boutique isn’t out of the question but you’ll still have to grind your ass off for it.
I agree, an MBA is likely the easiest way to go. If you're willing to take a chance, though, I would recommend pursuing a master’s degree in finance. From personal experience, it’s a matter of luck, but those who go the extra mile and don’t sell themselves short tend to see more favorable outcomes.
By going the extra mile, I don’t just mean trying hard in class, but also networking with classmates already in the field (this is one of the largest advantages, in my opinion, at least because you are literally in class with people already working in the field as opposed to networking digitally), building relationships with professors for connections and insight, joining relevant clubs, and most importantly, finding an internship (the hardest part about MSF because of the timeline). In most MSF programs, you really only get one summer to do this, so the pressure is on.
This isn’t to say MSF programs are bad. I personally know many people who broke into IB from mine who had unrelated degrees as well (primarily MM and some BB scattered in). Geography will matter, but it’s definitely possible.
It really depends on your appetite for risk. It’s not a magical break-into-IB degree, but it gives you the chance to learn finance and put yourself in a position to break in, so the possibility is there. How likely that possibility is to become a reality really depends on the extent to which you go the extra mile.
For context, I did mine after a different business undergrad, mainly to learn finance for fun, and the program exceeded my expectations.
And to add, one could say the same about the networking opportunities for an MBA, but if you are going directly from undergrad, you will likely be ineligible for most (if not all) MBA programs without work experience.
Thanks for the insight. Would you mind if I pm'ed u?
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