Vanderbilt MSF
Trying to break into IB without waiting a few years for an MBA. I know the employment report shows strong placements but how true is that number? I noticed people join small boutiques but would a boutique bank even be worth it? I have an offer in an unrelated field so I do have something to risk, albeit not as high paying though well known career path.
How realistic would trying to recruit for SF/LA banking scene pan out from here?
Most people who are successful with these were very close their first time around with FT and just got unlucky - didn't convert BB offer and hadn't networked during the summer or something similar. Because of how early FT is, you are basically using it as an extra FT chance from your current school, there is minimal benefit from Vanderbilt as you will recruit before school even starts. Maybe a handful more alums to reach out to, but nothing meaningful.
Think for a boutique bank you could get into these as a current senior and not spend all the money on MSF. But unless you are competitive for BB/EB already, Vanderbilt will not make you more attractive to those. And low placement on the west coast unless you went to school out there or grew up there, those groups are dominated by west coast schools
As someone who was born and raised in the Bay Area and did not attend a West Coast target, I can say that they don’t care if you were born in Cali. As long as you're from a West Coast target, that's all that matters since many of them went to school in California but did not grow up there.
I’m from a complete non target that missed recruiting so I’m debating attending for the alumni network and another year of recruiting. If it won’t benefit me much then it might be better to just go the MBA route then?
I have to disagree with this somewhat. I know plenty of people (myself included) that were not close in the prior FT recruiting cycle, did not network, had zero internships, or came from completely unrelated undergrad degrees.
If you use your time in the MSF program wisely by networking and getting 1-2 internships during the school year, you will have a solid shot at breaking in. Where I will agree is that it probably wont help break into a BB/EB. The people I mentioned all went to MM banks.
Out of curiosity, what year did you graduate and what time of year did you/friends sign? If you graduated during a big market year like 2021/2022, I could see you landing FT jobs in the spring, but for many people those school year internships won't really matter since FT is 80-90% done by October.
Vandy's MSF is one of the few legitimate ones.
Vandy MSF is great and places incredibly well. Helps a lot of people get their foot in the door that wouldn’t have otherwise. Probably the only worthwhile MSF, majority of them are cash grabs for universities.
While Vanderbilt is definitely one of the better ones, I don't understand the proposition of an MSF program if you want to get into banking. You spend an extra ~$75k (?) for a one year program to try to come in at the same level as undergrads. But more than that, banks hire almost entirely from their prior summer intern class. Since you can't intern during the course of an MSF (unless you're looking at part time at local Nashville banks), you're effectively hoping for a full time spot to come available through gap recruiting post-intern season or one off lateral hiring. In particular, if you're looking at SF/LA, it's going to be very difficult to network.
In your case, I would take the offer you have and keep a look out for positions that come open after this summer or during your FT job. Banks shrunk intern classes given the downturn in markets, but if this rally continues, I think we'll go back into a hiring bonanza, which could be a great time to break in
Fair point, cost aside due to significant scholarship, I’m at a toss up.
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