Tough Situation - London
Been on this forum for a while now and would really appreciate some guidance. Long story short: I'm studying at a target in the UK, failed to convert my IBD summer last year (was told this was largely due to headcount), and am nearing graduation with no concrete plans of what next. I was too late to apply to MFin (most of them require GMAT/GRE which I'm yet to do) and for reference, I also don't study a traditional econ/finance degree. Now, my two main ways forward are to either 1) pursue a master' degree in smth more specialised in my field (but unrelated to finance) whilst enrolling myself in the CFA and reapplying to banks for IBD/ER etc. or 2) take a gap year after graduating to prepare and complete GMAT/GRE to apply for MFin targets. Honestly, I know myself MFin generally speaking doesn't add a lot of weight to one's application but considering I dont really have a proper foundation in econ etc it might be beneficial for me. I'd really appreciate any advice you guys can offer!
Same story bro. Keep grinding.
If you have a good relationship with your professors and great grades, they might help you out with strong references internally at your university. Ask the finance professor if you can stop by their office hours (or go for coffee / beer) and explain your situation. The academic world can be quite friendly (I used an unconventional route to get on my own MSc course back in the day - MSc courses are basically the cash cows of universities and they can be rather flexible in who they admit).
That said, the big point here is the one you already made. The MFin really isn't going to be a game changer in getting you into IB. It's a gamble. And it's an expensive gamble. If you have the financial background and something constructive to do in your gap year beyond just preparing for exams, I think your option (2) might work, but I'm sceptical.
If you take option (1), I'd use the time to re-apply, but cast your net more broadly. If IB is what you really want to do, then pursure it, it I'd give you the tough advice that you're not so much in the camp of choosing your path to IB than considering ideas for your career beyond traditional IB. This might be via Big 4 and moving over later (by no means easy), boutique / small IB shops, working in corporate development, etc. Ideally something which keeps the door open to IB, but which you won't hate if it doesn't work out.
Good luck in any case!
I’d say take the gap year and do two six month internships in other industries. You will still be eligible to apply for most grad role / off-cycles whilst having something to talk about on interviews other than student projects and societies. Naturally, if you can find something that has transferable skills to IB (e.g., Excel, PPT, Corporate Finance), even better. But even if not the case, I’m sure doing an internship in something related to your undergrad, say pharmaceuticals for the sake of the argument, can give you an angle to a Healthcare industry team down the line. All the best!
finance is a declining industry. rising rate environment, global demographics, ai/ml will severely curtail profitability and total available market.
power & utilities, digital infrastructure, energy etc will outperform going forward. think more critically about where the world is going and not where it has already been
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