What can I do now to enter into IB a year from now?
Hello everyone!
I am current doing post- baccalaureate diploma from a college in Vancouver, BC. Previously I have completed both the levels of Financial Risk Manager (FRM) examinations and have a bachelors degree in Finance. I do plan on getting my CFA too in future.
I have done an internship don't have a strong work experience background except for some customer service experience but I do have a good academic background. I am interested in getting into IB first and later on progress to hedge fund industry. I am pretty young and determined to learn and gain whatever skills are required to get into IB. I graduate next year in December. Please guide me what can I do starting today so I can get hired by IBs.
Thank you all for your guidance in advance!
PS: No negativity please, although criticism is appreciated :))
Not looking to provide negativity but based on your profile your chance of working in a real IB shop within the next year is 0.000000001%.
For IB specifically certifications like FRM and CFA are almost completely meaningless and will do nothing in helping you get an interview or offer. At this point there is two possible pathways in, either you working in something tangential (become a big 4 cpa or work in TAS) and lateral or just get general corporate work experience and do a top target MBA for your country.
Unfortunately neither of those paths are achievable in a year.
okay, so how long and how does one get into IB with my profile? any suggestions. time doesn’t matter.
I could think of 3 ways off the top of my head.
1. Cold Email Boutiques and work at some tiny shop for a few years, then move to a slightly larger boutique for a few years and then to big 5. You would have to likely do 3 analyst stints. so this would be probably 4-6 years of boutique banking experience before you get looks. This however is predicated on you being able to even find a boutique banking spot which is incredibly unlikely to begin with.
2. Find an FP&A job at a name brand company and perform well for the next 4-6 years, get involved in your community and build a really strong MBA profile. Use that to get into a good MBA (UofT/Ivey Etc.). Then get an MBA associate job (still going to be extremely low chances especially if the market in Canada continues to be stagnant because people don't leave banking as frequently here).
3. Marry someone who's family is well connected or owns a $500M EV business that can provide deal fees to the bank.
Your profile essentially makes it impossible to get to banking, even in the pathways that take 4-6 years your odds are still less than 5% with everything else going perfectly. Its just a very competitive space unfortunately.
Just to give you some validity of the last guys comment. I went to a target, worked in IB at a boutique and am finding it difficult to get into big five. Very very competitive. You need to be studying for these processes months in advance.
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