The BEST plan B for IB
I am an undergraduate student and I am trying to get into an IB SA next summer, but if I won't break into IB, what other jobs could be good in order to start a career in Finance?
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MBB
People throw this out a lot there as a banking backup, but I don't understand how anyone that didn't land a banking job could land a MBB job. These jobs are close to, if not just as selective, as top banking jobs, and I don't see how someone could get nothing in banking recruiting and then shrug and walk into a job at McKinsey. If anything, you'd be targeting consulting firms that are a hell of a lot less prestigious.
Dude. Very easily. You don’t think there are strong IB candidates that get screwed every year? The IB process is very subjective and random, with so many good candidates it’s easy for people to fall through the cracks.
Say you’re a semi-target, land 3 superdays and can’t convert any? Nobody bats 100 and superdays can often have terrible odds of conversion.
This totally happens.
Not to say it’s common, but MBB-quality talent can definitely miss in IB recruiting.
Chill dude it's a joke
your plan B is your plan B. I don’t know why you’re asking us. it’s what you want to do
Plan A: getting into a top BB/EB Plan B: getting into a BB Plan C: give up and start a drug cartel
Then you can go directly to the buy-side xD![]()
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In all seriousness, not in any particular order:
Sell addy to the IB boys and network with them.
Some options are corporate development, big 4 financial advisory (specially Valuations), any investment-related job (PE, VC. AM, etc.).
Another valid option is to work anywhere else and after apply to B-school to get on the IB track again
As Ron Swanson says: "Don't half-ass two things; whole-ass one thing"
Not sure if you lump these in with IB but maybe other front office roles would be a good plan B. ECM, DCM, ER are all perfectly reasonable places to spend as a SA in hopes of a lateral to IB full time. S&T too but it’s less comparable to IB than are CM and ER
Go to TAS/FDD/Corporte Finance at a Big 4 Accounting firm and then move to investment banking.
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