Thoughts on starting FT earlier
Hi all, I was wondering if it’s wise for me to start my FT stint earlier (3-6 months before my batch) and would like your inputs on this!
Some context would be that I’ve received a return offer last summer at an IB shop that isn’t doing too well atm and was thinking that in the worse case scenario, having slightly more analyst experience might allow me to lateral/move better if needed.
I have also read on WSO that I should definitely use the break (graduated early) I have to get a reset before starting work which I completely understand and would have been something I would have done in normal market circumstances.
Thank you for sharing your thoughts!
Bump
Take time to enjoy college and your early graduation. You get ~two weeks of vacation per year once you begin working.
Very firm belief that unless you really need the money, don’t do it. First year is when you’ll feel most underpaid for the amount of work you put in, and starting early just adds to that without any payoff at all.
You’ll be dying to get those couple months in a few years. I know unfortunately you can’t appreciate it to the same extent you would after working a bit, but there’s just no reason to throw that away.
I honestly doubt a few months of analyst work makes much of a difference in any case.
Thank you for your kind inputs! Do you mind if I send you a DM?
Not at all, go ahead
Seeing it from the other side. While it's a good point about those few months/underpaid, situations involving placement and bank would make it instantly worth it. Speaking from experience. If you're trying to go from product as an intern to coverage full time or switch groups within coverage, by the time placement rolls around all the groups you would want are already allocated. Placement is always by who interned in group/connections/school and then by merit. In roughly that order. Starting early allows you to virtually compete with no one for fewer seats and it makes it easier to squeeze into a group you might have 0 shot at during regular cohort placement. Finally, the indisputable fact is that it is dependent on person's interest. I graduated last Dec and while I could have vacationed in Europe, gone to Asia, or kicked back, the reality is that gets very boring/very expensive very quickly. How much YouTube can you watch before you say damn is this any better than starting? Most likely all of your closest friends won't be graduating early so you'll be spending that time alone, and if you even think about spending more tuition to push grad date back that's even worse. Look bonuses are bad this year, what's the difference long term? For me I knew I wanted to get thrown into the fire, move groups, and get going. After 2 weeks with my parents I knew I wouldn't hold out well for 6 more months. Save them money on tuition, get out on your own, and start your life. Just remember what you signed up for. People say "you'll never get that time back" (they are right you can't tangibly rewind time) but who is to associate college with better times? Your'e transitioning into your own person, learning an incredible amount, and establishing yourself in a competitive industry. Start early. Do it well. Eat the hardships when they come. We're all making this up as we go anyway. Good luck.
Totally fair if OP relates more to your statements and I think that’s all going to be a matter of opinion and personality than anything else. And tbh it should be obvious to most readers which end of the scale they fall closer towards so no point debating fundamental differences.
But mainly just wanted to respond here that the placement thing may be true for your bank but isn’t universal by any means. For us, if you started off-cycle and wanted to go back to your intern group, you would start there and everything was seamless. If you started off-cycle and wanted to switch, they just threw you in the most understaffed group and then you still went through the same full-time placement process as the summer starts. Definitely worth looking into the bank’s process if this is a factor in decision-making.
No. Absolutely do not do it.
Yeah, maybe you can ingrain yourself with your team a little earlier, and maybe you can get ahead on understanding the work to be done, but i) you won't get any incremental bonus from this free work and ii) never in your life again will you have 6 months without any responsibilities. On the first point, my point is that all first years will be judged on a full year basis. so maybe you outperform because you have six months more expiernece, but that realistically translates to like, $10k. You won't get true bonus comp for the 6 months you work before everyone else starts. And to be clear... we ALL work for our bonus in this industry
On the second point, once you dive into finance, it's nearly impossible to take a step back and still remain relevant. Even with garden leave, the max amount of time you can step away from the game is 3 months. So cherish the time you have and go way off the deep end to backpack around Asia or something. You will quite literally never have the opportunity again
Nihil sit sit placeat adipisci omnis voluptas. Minus ipsa et facere accusamus. Debitis praesentium facilis velit dolores tenetur sapiente ut. Tempore delectus eveniet nemo error recusandae ad enim porro. Optio repellat sunt sapiente est ut porro rerum. Consectetur amet eum sed et et in illum. Odio itaque dolorem voluptas tenetur repudiandae natus rerum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...