MBA student graduating in Dec with aspirations of getting onto Wall Street......where should I begin?
Please bear with me....I have been on the site multiple times and realize this question has been asked a thousand times; however, I have to ask it again...
I am currently a full-time MBA student at a semi-target in the NE. There are many undergraduate alums that end up at BB, MM firms on the street. Unfortunately, many of the MBAs are pursuing the degree part-time, and stay at their firms. As a result, the representation of b-school students is relatively lacking (as compared to undergrads from the same school).
I am looking for a position in IB. I have no disillusions about starting from the bottom. I would be happy to get an analyst position and work my way up because I don't have any prior experience in the field. Although it would be great to secure a job with GS, I would happily take a position with a boutique to gain the necessary experience. Finance is something I am passionate about, and am willing to put in the time to reap the rewards.
A quick rundown of my stats....
700 GMAT MBA - Financial Services concentration Assistantship with the University (all expenses paid-free MBA) 3.6 GPA (will be a 3.8 by the end of the summer) 3.7 undergrad GPA
I am looking for some direction as to where to begin. This seems like a fairly daunting task with many different facets. Obviously, networking is key. I am beginning to set up meetings with professors, and other people in my network in the hopes of getting leads, and will branch out as leads develop, etc. Am I on the right track? Any other advice? Is there something I am overlooking? Is this a good use of my time, or should I be focusing my efforts in another area at this stage?
Thanks very much for the feedback and input. Very much appreciated.
good one.
You should not consider taking an analyst IBD position as an MBA. Yes, at first it seems worth it to break into the industry, but it will feel different once you start as an analyst. People will not understand why you went to business school just to become an analyst. Unfortunately people will judge you differently.
If you are on an interview and you get asked about your willingness to take an analyst position, say no. They are likely testing your maturity and will not hire you as an analyst anyway. If you were getting a master's in computational finance or something then you could maybe push the analyst spot, but not as an MBA.
It all comes down to networking. As a non-core student you need to meet 3-4 bankers minimum at a particular bank and/or have someone go to bat for you. Your stats are OK in terms of hitting the standard benchmarks, but they do not matter much at this point.
December graduation is tricky since it is based on need rather than class-size. Could go either way.
Apparently banks won't hire anyone over 24 y.o (and that's pushing it) to be an analyst because it becomes harder for management to 'beat, shit and piss' all over you in good conscience...Not being faceitious here at all..this is what was explained to me by a hiring manager a while back.
Thank for the feedback gentlemen. I understand networking will be an important differentiator, between success and failure, for someone in my position. Any thoughts on taking first steps?
Should I focus on BB, or set my sights a little lower initially?
Thank you.
You should utilize your finance/investment banking club for taking the next steps.
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