Transition into Investment Banking or Asset Management
Hello all,
I'm looking for guidance on how to break into either investment banking or Asset Management.
I have been in the mortgage lending industry for nearly 7 years at a large bank and seek potentially a new career. I have enjoyed my line of work and obtained a lucrative compensation, equivalent to an 3rd year associate at a IB firm. As a second nature, I thrive on making deals and finding solutions in complex situations. Despite my age being in the mid 30's, what are my chances breaking into either one of the two positions?
Quick background on myself: I have a bachelor's in finance from a decent school and would entertain a mba program, if needed. However, if I can swing a mba while starting off as an analyst, I'd rather do that. Lastly, in my case scenario, I'm sure I'll be taking a pay cut, but I think it will pay off in the long run.
Thank you all in advance for your guidance and input on my post.
If you’re clearing 3rd year associate money (-~$300k) why would you want to go into banking???
The best you’ll get is a 1st year associate pay which means worse pay and probably 1.5x the hours you’re currently working. And you’re in your mid 30’s.
True, but I feel like I'm capped at the level I'm at, and I want to achieve more. So if I have to take a step back in order to move forward, then I will.
Don't be crazy...either start a side gig or take your comp and invest it
M7 MBA would by far be the easiest path into IB for you. It sounds like you have good relevant prior experience and a name-brand position that, coupled with a good GMAT score, solid UG GPA, and some reqs from your current employer should position you well for a top MBA program. I don't really see any other path into the industry, as you have too much experience and are too many years out of college for an analyst position, and do not have the IB experience to lateral as an associate or VP. Hope that helps!
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