Non-traditional exits
Curious what some of the less traditional exits are that people have taken - specifically in things like the public sector, IMF, World Bank, IFC, (political campaigns?).
Money is obviously not a major concern. I'm attracted to IB in order to learn in a high pressure environment, which something I feel like you can't find in the public sector straight out of undergrad (and paying off some student loans isn't too bad either). However, at some point I would like to use some of my skills for the public good.
Do these places even care about skills learnt in IB? Perhaps in DCM/LevFin/those sovereign advisory teams at Laz/Roth/JPM?
I'd also like to know how the work/life balance is and drive is for those people. I still want to work hard but I heard they can be pretty bureaucratic/slow. Would be interested to hear from people knowledgeable about this.
Following
Jake paul manager, president of france
Guy I know of is COO of a mid level european football club
Mind sharing an overview of his path? Straight from IB? I'd imagine some time in pe + mba tho
Bump
I can attest to the World Bank/IMF exits. They're very competitive gigs but you are paid pretty well with excellent work life balance + WLB and you get to live all over the world if you want.
Generally pay is 6 figs (you might start high 5 figs depending on experience); upper management/senior employees bottom out at ~240-400k. However you do get excellent benefits in the sense that they'll pay for your kid's private schools(and up until college), rent, etc...
Its more of a job that you do for 15+ yrs if you want to maximize benefits. I do reckon it has good exits since World Bank/ IMF are pretty solid names, but you don't meet a lot of people who leave the job.
In terms of work it really depends on what department you're in. Could be running initiatives to help out under privileged people or you could be working on financial aid/monetary plans/loans to nations. So I reckon RX, DCM, or sovriegn advisors provide the best pathway.
Most people I've met in those jobs have MBAs/Masters some have PhDs. However, I have met people with just undergrad degrees (usually law or medicine from EU or 3rd world).
It is a bit bureaucratic with lots of office politics at the top, but you can still be high up and steer clear of it.
Very helpful thanks! Yea I see a lot of econ PhDs just looking at linkedin. It seems the IFC also does PE style investing in developing economies. Personally more interested in the macro aspect/ sovereign advisory stuff. On the private side I know that it's a very niche gig only really done in Paris at Lazard and Rothschild and VERY selective.
Any places you'd recommend to find out more? Contact people who have worked in banking then moved there?
If you're interested in the advisory/macro side I'd def do World Bank or IMF; multiple people I know work on advising/aiding developing governments on plent of socioeconomic things. World Bank tends to lean more on the socio aspect, while the IMF is more focused on currency, debt/lending, and general eeconomic crisis. So it really depends on where you'd rather "make change".
For networking I think your hit rate would be decent across people with different backgrounds. For hiring I'd reccomend you reach out to more senior people, since "juniors" can't really help with. Hiring is more centralized, so reaching out to division heads and heads of field offices, HR, and deputies is more effective. If you're just trying to find information about applying/working then network with people who've done banking across all levels.
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