What to expect after 40 in IB?
Hi, I am a student in East Asia planning to immigrate to the U.S. Already have a green card so visa wont be a problem.
My plan:
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Work at a BB in my country for ~3 years to pay for an MBA -> M7 or tier2 MBA -> summer associate -> enter wall street IB as an MBA Assoicate
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I figured PEs not an option because my undergrad degree is not from a school in the U.S.
So my question is:
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Expecting I won't make director since I'm a foreigner and whatnot and stay as a VP, how long would I last in a firm?
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I will be 30 when I graduate from a B school, and assuming I'll get promoted to VP by 35, what should I expect when I'm 40? Will I get laid off? If so, is there any other career path I can take even outside of IB?
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I'm wondering this because in my country, you basically have to retire at 40 in IB because you'll get laid off and theres no other firm that will take you.
Thanks for reading.
Why are you assuming you won't make director since you're a foreigner? That assumption just makes no sense to me. I also don't see how being 40 or older increases the likelihood that you will be laid off. What is the reason for this in your home country?
If you don't make director or MD, I don't think it has much to do with your age. It’s because you are consistently unable to generate revenue for your firm. Sort of confused how you pieced together these premises
In my country the positions are extremely scarce due to the size of the market and there’s so much competition in the job market, so aside from the very select few, most VPs get laid off without making director.
I understand the assumption for not making D was misleading.
Reasons I don’t think I’ll make director:
I’m thinking about moving to another country, so I was just trying to prepare for the worst case scenario. Of course, I could get fired for some reason from Day 1, but just entertaining some possibilities here.
A lot to unpack here but willing to help because I'm also East Asian.
First of all age doesn't matter in IB unless you are very, very old. 30 year old MBA associates are common as a rock on the pavement floor. East Asian corporate culture is completely different from the American corporate culture so whatever you think of the Asian culture is not applicable in the US.
Secondly, there are directors that are non-White, and I assume, non-American as well. In finance, it is all about your competency. If you can make your firm money and bring clients, nobody cares where you come from.
PE is an option but most likely not MF. Try MM or UMM PE firms that may hire from more diverse background and not HBS -> GS -> KKR
And lastly this is all assuming that you will like banking and you will survive the hours and pressure. It could be totally possible that you do not like the work and burnout later on. Not saying you will, but the attrition in Wall Street is high for a reason. Take one step at a time and get an offer first. Then you can start planning out your career slowly while talking to different industry professionals inside and outside your organization.
Thank you so much. It feels reassuring to know there are lots of other East Asian fellows out there working up the ladder. I know I’m worrying 15+ years ahead, but I just wanted to be aware of the trajectory as I have to make a lot of decisions based on assumptions and second-hand experience. Guess I’ll just have to like and be good at IB first. Thanks again!
Dude bankers are disproportionately East Asian and South Asian lol. In all the groups I've seen, they've collectively comprised like 30-50% of the entire team lol not sure why you're under the impression that East Asians in banking are unicorns.
HBS MBA -> GS Associate -> KKR post MBA without any prior PE experience?
Lol you are putting the cart way before the horse here. Stop thinking about hypotheticals that are 20 years away
Yeah I just finished my first internship and these thoughts were just piling up in my head. Seems the rule of thumb is always to focus on the present haha
This is just super sad to read? Why cap yourself at any level? Why aspire to be a ib vp or director? That is kinda sad
Expect bald head, heart condition and at least one divorce.
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