Hey Monkeys,
First time posting. I work in S&T for a known bank (Citi/Wells/BoA) in a decent COL city (ATL/Charlotte/STL) for about 2 years. My goal is to land into IB, however, would it be smarter to get an MBA or make a lateral move (network) into banking? I’ve read on WSO that MBA associates aren’t as ready as A2A but it seems like banks favor MBAs for associate roles. Do I have this idea wrong? Any recommendations?
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Hi dablocishot, any of these threads helpful:
If those topics were completely useless, don't blame me, blame my programmers...
well, considering you're at Wells Charlotte S&T, your lateral opportunities are limited anyway. MBA is the easiest, most consistent, and most structured route.
Plus, MBAs will open doors in NYC.
Yeah getting into a top MBA program M7 will give you more choices of banks from EB to BB rather than trying to lateral from where you are. Not saying it isn't possible, just harder sell to firms when there are other candidates already in banking you are competing with. MBA is a structured pipeline for banks so if you work hard the path is clearer.
agreed. you could skip the step and lateral but an internal move would be the most likely since you’re in not NYC. Citi and BofA have decent IB shops. but if you want GSMSJPM etc you’ll need to go to MBA 98% of the time
I really appreciate the added feedback. I really do not want to lost opportunity costs by getting an MBA but this may change as a necessary step.
but what’s the opportunity cost? if you don’t get an MBA, you don’t do IB, you continue in S&T and maybe plateau somewhere. get an MBA and you could change your trajectory forever. just have to be smart and realistic about it.
opportunity costs : salary, bonus, career growth while incurring debt through an MBA. but an MBA would open doors especially into IB
I'm going to play devil's advocate here because I love money and truly believe our generation is getting screwed financially.
What is your reputation like on your team, and how is your team's culture?
I would try networking with people in IB (start with the closest people that you know of), and express your interest in doing IB (come up with a convincing story why you want to switch). I think you should have a strong shot lateraling (this depends on the firm's culture) given you're in a front office role.
The current environment won't help as there may not be as much turnover as normal. However, I don't think you have to necessarily do an MBA and spend all of that money on the program and deal with an opportunity cost of missing income during the period of it.
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