Premed to Investment Banking
I’m a sophomore (at a school that might be a target, not sure though because of my lack of knowledge in this field) looking to switch into investment banking. I know that recruitment starts soon for sophomores and I’m very behind if I want to start. I do not have any knowledge of the process but I do have the next 2.5 weeks in winter break to prepare as much as I can. I want to try and see where this takes me and I am willing to put in the work this next semester. Where should I start and what should I start with?
Find Alumni from your school through LinkedIn, cover all banks w/ cold emails (BB, EB, MM, LMM, Botique.) Fins the 400 Question Mergers and Inquisitions Question Guide and drill the basics for each topic to start (Accounting, Valuation, M&A, etc,.) Find practice Financial models, start with 3-Statement, get that cold then move to DCF, Merger, maybeeee LBO if you have the time.
Craft your personal story (why you want to make this transition, your story, etc)
And that’s a good start!
Okay relax he’s a sophomore he doesn’t need to start ripping 3 statement models, DCFs, and LBOs lmao you need to calm down.
Most importantly just know what banking even is, hammer those easy technicals, and just network hard.
You must be diversity or haven’t recruited in a while then
Found the diversity hire
Good story for recruiting into a healthcare IB group as well
I did the same last year recruiting cycle. Was fully premed, took almost all the prerequisite, then decided it wasn’t for me and did a full 180 and began recruiting this past February.
I landed a 2023 Summer offer after around 3 months of recruiting and made a lot of mistakes along the way.
I’d probably want to make a whole guide with my experiences diving head first into recruiting without any knowledge but just some general tips given your timeline.
1) Study and master Technicals now
I’d botch a technical and never hear back. You will not get an offer just being decent at techs, you have to know them like the back of your hand. Right now is a great time to start.
2) Email alumni from your school for coffee chats
3) Have your story
I wouldn’t pigeonhole myself strictly healthcare baking but that could be a good story. Have good answers to why IB and tell me about yourself.
4) School infosessions
This is the most underrated part of recruiting nobody mentioned to me and I would argue helped me and my friends more than coffee chats/phone calls with bankers. I’m lucky enough that banks would send their people to our school for on campus infosessions and even virtual ones. Registering for these gets you in their database and was a great way to meet bankers at a specific place in person and form a real relationship.
Good luck and feel free to PM me.
Landed a FT Healthcare IB role at one of the top MMs this cycle. I was full premed even after graduation and could not even list out the 3 financial statements when I was asked in a networking call a year ago. Feel free to PM me!
Honestly, practicing LBO builds from scratch is what helped me the most in understanding how to walk around the 3 financial statements and general finance concepts. 3 months of prep and you will be fairly fluent in accounting/valuation technicals. My 2 cents.
What resources did you use to practice? Course? YT vids? Guides?
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