What can you realistically do after 1 year of banking?
Been thinking a lot as my first year comes to close in less than three months. Most of what I see in terms of job listings asks for 2+ years, which makes me feel like I'm stuck in between "new grad" and "experienced hire". Staying is banking is not an option for me (I cannot stand it much longer + looking to get married soon). Does anyone who left banking shortly after their first year have any advice?
You can do anything. I am serious. People leave banking after a year and end up all over the place. All that matters is your ability to spin your IB experience in a light that makes you seem like a strong candidate for xyz position. I know kids who left IB DURING THEIR TRAINING (ie less than two months on a job) to go to PE. You could become a consultant, you could go to corporate finance or corporate development, you could go work for some cool tech company or startup. Don't let a job posting which asks for 2 years deter you. 1 year/2 years isn't a big deal.
Is that common and how did they go about networking for those jobs as new hires in training? I'm starting fulltime in NYC in July and my longterm goal is to work in real estate acquisitions and I'm not keen on staying in banking any longer than necessary to make that happen.
I don't know if it is "common" for kids to leave that quickly, however tons leave after the first year. Real estate acquisitions shouldn't be too hard. If you are in REIB, it is even easier. I don't think those kids were "networking" that hard for lots of the opportunities. Networking is definitely more important for UMM and MF PE, but there are so many opportunities out there that your network will never be as big as the universe of possible job openings. I'd just go on LinkedIn and start slamming your resume out in easy applies. There are plenty of REITS and MM REPE firms that will look at you in addition to the private developers.
start a youtube channel
you can flex on Hinge
You can become a president
The world is less black or white than you think.
If you went to a target school, have top grades, and went to a top BB, I don't see why you wouldn't be able to land something.
A lot of recruiting is structured in the big cities like NYC, which makes it more challenging - best thing you can do is contact the recruiters.
I'm assuming your in NYC, but getting into PE is just as hard as getting into IB IMO. So many people leave banking after 1-year and get great placement. My friend got picked up to a top PE fund after 8 months as an analyst lmfao. Dozens of my friends signed PE offers within the first year (of course they did 2 years and peaced!)
Who wouldn't leave investment banking if you have the chance for PE / HF? Have you seen the Goldman presentation lol?
Also as someone who explored non-PE/HF/AM options in the first year of banking, two pieces of advice: (i) ignore what the job listings note for requirements (within reason) if you genuinely have interest in the role and can prep/feasibly be able to step up and punch up in it and (ii) leverage your network, not Linkedin job listings. There are more opportunities than you think that fit your skillset and background than are posted online, and the best way to gain access is through people who want to advocate for you. Feel free to PM me if you have more questions on the latter, but I would focus more on what exactly it is that you would want to do, pick a few specific companies, and start leveraging your networks to find people you can speak with.
nobody besides old ass PE shops care if you did 2 years in banking (even then if you secure an offer on cycle and quit they often dgaf), as other posters mentioned don't let the two year listing deter you. if you don't want to do banking as a long term career, the sooner you can get out the better there is almost 0 downside to leaving early
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