JD -> Finance

For a JD graduate with no finance experience looking to break into investment banking (IB), here’s what they should focus on:

1. Networking is Key: Based on the most helpful WSO content, networking is the most critical step for non-traditional candidates like JDs. They should reach out to alumni, former colleagues, and connections in the finance world. Prioritize reaching out to Directors and Managing Directors (MDs) who are more likely to respond and offer guidance.

2. Highlight Transferable Skills: JDs often have strong analytical, negotiation, and communication skills. These are valuable in IB, especially in areas like M&A or capital markets. They should position their legal background as an asset, particularly if they’ve worked on corporate law, M&A, or credit-related cases.

3. Master the Technicals: Bankers may assume JDs lack quantitative skills. To counter this, they should become proficient in financial modeling, valuation, and other technical skills. Resources like the WSO Investment Banking Guide and financial modeling bootcamps can help bridge this gap.

4. Target Boutique and Middle-Market Firms: Breaking into bulge bracket banks might be challenging without prior finance experience. Instead, they should focus on boutique or middle-market firms, which may value their unique background and offer a more accessible entry point.

5. Consider Specialized Roles: If direct IB roles seem out of reach, they could explore roles in corporate banking, business development, or even legal advisory within financial institutions. These roles can serve as stepping stones to IB.

6. Leverage Law Firm Experience: If they’ve worked at a top law firm (e.g., Skadden, Wachtell, Cravath), they should emphasize this experience. Many successful transitions to IB come from lawyers at such firms, especially those with M&A or capital markets exposure.

7. Join Relevant Groups: Encourage them to join LinkedIn groups, alumni networks, and forums like Wall Street Oasis. These platforms are excellent for networking and finding opportunities.

8. Be Persistent and Patient: Transitioning from law to finance is challenging but not impossible. They should remain persistent, continue networking, and refine their pitch to highlight why their JD background makes them a unique and valuable candidate.

By focusing on these steps, your friend can significantly improve their chances of breaking into finance or IB.

Sources: Law to Investment Banking (One Monkey's How-To Guide), Law to Investment Banking (One Monkey's How-To Guide), Non-Target to MM IB: My Advice, graduated may 2019 and recently laid off first job, Q&A: Recent graduate starting at MBB soon