The Best Way Possible?
what would be the best way to get into IBD eventually in a year or two? i have a year's experience in fin/investment consulting. graduated from a top 20 business undergrad program with a 3.4 gpa. I have two offers right now:
1) BB Ops dealing with hedge/pe funds
2) F500 Manufacturing firm (top 20? $20B in Rev) - Internal Auditing
any advice would be much appreciated.
thanks!
If you have one year's experience now and are looking 1-2 years down the road, I would seriously consider an MBA. Sounds like you have a good resume, and the farther removed from undergrad you are, the harder it is to break in as an analyst.
honestly man internal auditing and ops will lead you nowhere other than suicide so if that is all you have i would say your fucked. Say no to both of those jobs and study for CFA and get into an mba program
how would the CFA help unless im specifically targeting ER? which im not btw
Do you think equity researchers should possess different skills in terms of investment analysis, forecasting&modeling, valuation, in comparison with investment bankers? Its all the same, if you look at the big picture.
Besides, CFA program contains a lot of financial statements analysis and corporate finance stuff (invaluable for i-banker), as well as about all kinds of securities and all kinds of assets.
Then, knowledge of some quantitative nethods of analysis will never hurt you either, though it wont be that beneficial. Economics section is definitely not a waste either, especially in terms of forecasting&modeling using a top-down approach.
Basically, only a portfolio management section of the CFA program is not useful for i-banker, and unless you're doing a level 3 exam, portfolio management is a mere TEN percent of the CFA curriculum (and about 20% of the entire 3-level program)
just my 2 cents
Retake college, do better.
I said 1-2 years because i dont think i could get in until the sept recruiting season...otherwise i would be willing to start whenever the opp comes. i guess a lateral transfer to an analyst position would be a no-no? i'm currently an analyst as well...
sleepyguyb: i asked for honest advice, not smartass comments. i think i did great considering i only graduated in 2.5 years from a 4 yr program.
I really don't think employers care that you graduated in 2.5 years. It even is a double-edged sword. Unless you had really legitimate reasons for graduating that early (finances, etc), I would think that is bad for you. Think about, 3.4 GPA from an average school with relatively little experience.
You are at a disadvantage compared to every college junior with a higher GPA, a summer internship, better extra-curriculars, and have better access to on campus/non-off cycle recruiting.
You're better off waiting until after your MBA unless you have contacts in the industry.
true that...but i didnt mean to say that 2.5 years is something that i brag upon, i had to graduate in that time because of finances. i was offered a scholarship as well + had an internship after my freshmen year in a BB investment bank in Asia
in light of all this info..what steps should i take? and which offer should i pick?
thanks
i guess it wouldnt HURT to get a CFA along with an MBA, but I'm debating the need for a CFA if I am already going to get an MBA. does a CFA really help in getting in b-school?
in any case, i dont think the MBA option exists because I couldnt get into a top 10 b-school unless I have a good amount of experience, say 4-6years?)
so, out of the two options in my initial post...any comments on which one I should take? pros/cons? thanks for all the comments, but no body has really answered my question yet
Honestly dude, both options kinda suck. Not that familiar with Ops, but I doubt that's something that anyone would enjoy and get decent b-school placement from. Granted you might get some contacts, but ops isn't the best track to get into b-school.
The F500 might be a little better for b-school, but you still put yourself at a disadvantage with the lower GPA. You'll need a really high GMAT and great essays to compensate. Unfortunately, auditing really doesn't help at all with IBD, impo, and the work is just as bad as ops in many cases.
I would start looking at some third options if I were you.
And FYI, 20B in revenue? That barely cracks the top 100 in F500 companies.
you already screwed up one time by trying to graduate in 2.5 years because you were cheap. I don't give a shit if you did not have the finances, you can get a loan from the bank for the last 1.5 years and would be able to pay off your entire college expenses after 1 year at an ibank. Fact of the matter is the shit you have on your plate is setting you up for a career as someone who is going to constantly get shit on, so pass up the money now and just take the CFA and get an MBA to go through recruiting. Btw, don't try to get sympathy for your lack of finances to graduate in 4 years, you study finance and you don't understand the simple theory of opportunity cost? Does that little 50,000 loan with interest not make up for the $120,000 you could have gotten first year out of college at a BB in ibanking compared to the 45k your getting now? Bro there are a lot of other careers out there for people like you, look into Secretary jobs, mail rooms, etc. great place for people like you to start out.
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