Is it too late for IB?

I am a second year at a top tier target school for banking studying (pure) math and cs. I’ve always been interested in entrepreneurship and would do small MVPs with my friends, but I realized that VC would cater to my entrepreneurial bone and give me a more stable salary + better networking. That being said, I was looking into VC (trying to break in out of undergrad, yes you can laugh at me) and I slowly realized that VC is too “vibe based” for me.

I then switched my interests to growth equity, as it is more data driven and thus seems more fun to me, but I also realize that however impossible breaking into VC out of undergrad was, breaking into Growth equity would be significantly less likely. However, it feels like I’m too late to recruit for IB.

I do have an interest in AI: should I give up on finance and pursue AI (and maybe go into a financial firm later on in my life) or is there still time for me to recruit? I have a solid shot at working at a pretty good AI company this summer (won’t say for privacy reasons, but it’s on FAANG level), if that adds any context.

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Based on the most helpful WSO content, here's what you need to know:

It’s not too late to recruit for Investment Banking (IB), even as a second-year student at a top-tier target school. While the early rounds of recruiting for summer internships may have passed, many banks conduct additional rounds in the fall or even later. Here’s how you can approach this:

1. Leverage Your Target School Status

  • Being at a top-tier target school gives you a significant advantage. Banks often reserve spots for students from these schools, even in later recruiting rounds.
  • Reach out to your school’s career center and alumni network to identify banks still recruiting. Many boutique and middle-market firms, as well as some larger banks, may still have openings.

2. Network Aggressively

  • Networking is critical at this stage. Start reaching out to alumni and professionals in IB immediately. Focus on building relationships and expressing your interest in breaking into the industry.
  • Even if you’re late to the game, a strong referral can make a huge difference.

3. Highlight Your Unique Background

  • Your background in math, computer science, and AI is a major asset. Banks are increasingly looking for candidates with technical skills, especially as data-driven decision-making becomes more important in finance.
  • Emphasize your analytical skills, entrepreneurial mindset, and ability to work with data. These are highly transferable to IB roles.

4. Consider Alternative Entry Points

  • If IB recruiting doesn’t work out this cycle, you can still pivot into finance later. Growth equity, venture capital, or even AI roles at financial firms are viable paths. Your FAANG-level AI internship will be a strong credential for these opportunities.
  • You could also consider roles in corporate finance, consulting, or tech-focused investment firms as stepping stones.

5. Don’t Rule Out AI

  • If you’re passionate about AI, pursuing it now doesn’t mean giving up on finance forever. Many professionals transition into finance later in their careers, leveraging their technical expertise.
  • AI is a growing field in finance, with applications in algorithmic trading, risk management, and data analysis. Your AI experience could make you a highly sought-after candidate in the future.

6. Action Plan

  • Short-Term: Apply to any remaining IB opportunities, network aggressively, and prepare for interviews. Use your school’s resources and alumni network to identify openings.
  • Medium-Term: If IB doesn’t work out, focus on excelling in your AI internship. Keep networking and exploring roles in growth equity, venture capital, or tech-focused finance.
  • Long-Term: Reassess your career goals after gaining more experience. You can always pivot into finance later, especially with a strong technical background.

In summary, it’s not too late for IB, but you’ll need to act quickly and strategically. At the same time, don’t discount the value of your AI internship—it could open doors to finance roles in the future. Keep your options open and stay proactive!

Sources: Am I too late??, Are any banks still recruiting? Or is it too late?, Is it too late to start networking/applying to IB 2020? Which roles/banks are still recruiting, Asset Management vs Investment Banking for exit opps into value-based hedge funds, Growth Equity Recruiting from IB

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