Non-target student — will self-driven finance projects + deep research + certifications help break into IB?

Pidst:

I am going to be honest because I have walked this path and I wish someone had told me this. 

Any knowledge you gain to help you answer questions naturally in an interview is always going to help. Will any of these things help you get an interview? I highly doubt it. 

If you're looking in the UK then your best bet is getting a first class at your non-target to then immediately go and do a masters at a target university. Once you're doing "MSc Financial Economics" at Oxford then people will start reading your CV. Will you actually learn anything on your masters if you're already well versed? Again, I doubt you'll actually learn anything, the only real barrier to entry here is cost. I have never found myself in the position to spend £100k+ to study a masters at a target. However, the UK is extremely classist and the honest answer is just to get yourself on the accepted path. This is really the only route to make it in banking. 

The other alternative option is to join a bank or investment firm in an alternative role (back/middle office) and use your knowledge while networking internally to show you'd be a great fit for a front office role. This is what I did. I went to a non-target and then worked towards becoming a qualified accountant while networking to break into an investment team. I then had an extremely lucky break and I now work in M&A. I have to emphasize here: I was EXTREMELY lucky. I know hundreds of people at the firms I used to work at trying to do the same thing who are all still doing their back/middle office jobs. Was I any better at networking or the better suited for the job? Probably not. Sometimes in life it just comes down to who is luckiest. This route I would, anecdotally, say has a 1% chance of success.

Now for my current position. You made it in so you've achieved everything you wanted?! The UK is still an extremely rigid place. While I have 5 years M&A experience I still find job hoping a very difficult process. Having a non-target on your CV is like wearing an albatross around your neck. Without the target university you end up being auto-rejected and people aren't as keen to put their reputations on the line for a referral. You will also get paid less than your peers so your salary will always track lower than the comps you see on here (you will be the lower deciles). In the UK this is sometimes called "paying the state school tax." 

My honest advice would be this is an extremely difficult path and you most likely won't be earning anywhere near the higher comp levels you see on website like this unless you get a target on your CV and just follow the standard route. 

If I could wind back the clock I would've focused on tech. While it is starting to have the same structural issues we see in banking it isn't anywhere near as bad currently. 

Another option is that you will probably end up earning more sticking to a role and running with it. I know lots of director level peers who stayed at small corporate services providers who were earning £150k+ by late 20s. They worked 9-5 and have very little stress in their roles. Will they ever earn £500k? No, but neither will a non-target alternative banking professional. 

Where did you start working and where are you now?