Some advice/perspective would be appreciated: I am applying and interviewing to lateral into an IB Associate role and keep coming up against the same hurdle...I have good experience and would be a good fit with the team, but someone with a background in IB beats me out for the job. This has happened twice in the past 7 months. How am I supposed to get transaction experience if I can't get hired withour transaction experience? Should I just fake my way in and be confident that once I have the job I can do the job?
Backgorund: MBA May'19, currently in valuation at a boutique firm, passed the SIE and 63, prepared to take and pass the 79 tomorrow if I had to.
Learn how to sell your valuation experience as transaction experience. Keep grinding until you can convince yourself of what you are selling to the interviewers. IB is a sales job, if you can't sell yourself, how can you sell a company for a client??
Look at it from the hiring Associate/VP’s perspective. Why would they pay more for an Associate level MBA with no direct transaction experience when they can hire an experienced analyst or hungry new analyst for less? Sure you can do the job. An experienced analyst can probably do it better on day one and a hungry college grad will work longer for less.
My two cents would be to mirror exactly what an experienced analyst has on their resume, continue to grind networking and also open up to look at boutiques similar to the one you’re at now where you can get a deal or two on paper. Even if you’re only there for half a year. Easier to transition with experience, just the nature of the beast.
Good luck!
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