Will part-time financial modeling experience help get into i-banking?
I'm 2 years out of college, working in financial services, not i-banking; want to get an MBA from a top school, then pursue a career in i-banking. I have no experience in i-banking, and have heard from people that an MBA may not make up for this when I'm interviewing down the line. I'll be competing against people from banking backgrounds, and recruiters will want to see that I've done financial modeling work before.
So, I'm considering doing part-time financial modeling work for a company through a friend of mine. It'll be a small boutique firm. I'll likely do this just to get a feel for what I'm getting into with i-banking. But, could this 1. help me get into an MBA program? or 2. Help me get into i-banking as an associate post-MBA?
This will add marginal value to your MBA application but it will show Adcomms that you are taking the initiative to focus on building a skill set that will help you with your post-MBA goals. Showing focus and purpose is an important part fo a successful application essay package. Modeling experience is not a pre-req for an associate gig at a BB but it is certainly an asset. Remember however, that most MBAs understand the concepts of financial statements and can build a basic model. Most of what you learn in IB is from on the job training (and your training program).
Don't worry...recruiting for a post-MBA associate investment banking position is many times less competitive than recruiting for a post-undergraduate analyst investment banking position.
if you go to a top mba program, not a lot of people want to do ibanking...they all want pe/hf/vc.. the people that actually want ibanking are career switchers... so they will not have an edge against you...
and doing models will not help you get into a top mba school.... with that being said, you can spend your time doing other things that will help you get into mba school like : study for gmat, and work on your applications
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