2023 IB Summer Associate Recruitment
Hi guys - I am an incoming student in USC MSF Fall’22 course. I want to understand what IB recruitment would look like with my profile, summarised below.
2 years of Classic IB experience with Goldman Sachs (middle office, worked in India covering EMEA), with a history of working across Consumer/ Retail industry, and deal experience covering multiple IPOs, sell-side and buy-side advisory. In most cases, I worked as a sole analyst with associates/ VP/ MD directly. I realise it might not be evident from my CV but can defend if I get an interview.
CFA level 1,2 cleared. Plan on writing level 3 in Feb-2023
FRM both levels cleared, awaiting charter
MBA (Finance and Operations) from a top 5 Indian institute
Computer Engineering Undergrad from a top university in India
Grateful for your views on how difficult it will be to break into Wall Street (as an associate), and what a potential internship process can look like.
Bump, also why MSF and not MBA, from what i know MSF is for analyst roles.
Is your MBA from anyone of the IIM's and undergrad from any of the IITs?
Already have one MBA degree and didn’t feel like going for another full fledged 2 year course. Masters is bit more specialised and helps me close the loop.
Yes, MBA from a top IIM. Undergrad from a top university, just a notch below the top few IITs.
Conscious MSF is analyst recruiting, but shouldn’t my profile + 2 years with GS IBD give them more confidence?
Thank you!
Hey man please take whatever i saw with a grain of salt as i'm just in college, reason i asked about IIMs and IITs is because they're the only ones recognized(meaning people know them as elite institutions) here, someone could be from FMS Delhi and another from IIM jammu, IIM guy would be looked at better unless the guy on the other side is indian.Honestly USC while not bad, isn't a TOP programme, also check if its STEM(Very important).Also analyst roles are well, with the way diversity hiring works getting harder and harder to obtain, IMHO you should wait another year, Get a good GMAT(wouldn't be hard for you since you mustve cleared CAT) and then Apply to M7 and T15 MBA programmes.
Look up some threads about MBA hiring on this website, it has gotten way easier(specially from M7's) Most people who want IB get it and theres many other fields as well(eg consulting), even if all fails and you have to comeback to India you'll have a strong brand name through an MBA and can target other loctions such as UAE, singapore etc, , If you want i'll link it for you. Once you do another masters degree getting an MBA will be difficult.
This is the last but most important thing I'm saying: There's WSO mentors here, it's a bit expensive but not much in the grand scheme of things, E-Mail WSO and and they'll set you up with someone good.Go to MSFHQ website and read about USC MSF(the guy who runs it is BLANK99 on this website, go through his posts as well)
I'm writing this because honestly USC MSF might be a huge waste for you, but who am i to say (just another undergrad).
Hopefully someone else chimes in, maybe i'm wrong but I'd hate for another fellow indian to waste tution+1 year of his life+ potentially chances at an IB job.
To your last question about your profile, recruiting is very structured in the US, its mostly MBA+PHD at the associate level. Even if you get an anlyst role you'd spend 2-3 years as an analyst and may/may not get an A2A promote, its better to wait 3 years(1 year waiting+2 MBA) and try direct associate hiring.
Please take whatever i say with a grain of salt, and hopefully someone else working in the US helps you here.
Bump again someone working in the US please help OP, I would hate it if he wasted many years of his life.
So you did undergrad, then an MBA, then started working as an analyst, then went to USC for a MSF?
When you say middle office, what does the role entail? If it's the India team supporting bankers (i.e., the group banking analysts/associates send work to overnight so that it can be done by the morning, there has to be a better description than middle office to describe it). Middle office sounds like trade support or accounting for a trading desk.
It seems like an uphill battle with only 2 years of work experience and coming from an MSF as opposed to an MBA program, but that's not to say no one will give you a chance
So MSF as I want to move to the States and work on the Wall Street.
As far as GS is considered, I call it middle office as I didn’t have in person experience with clients. However, my job description is like any other analyst working in front end roles in NYC/ London etc. Just that my associates/ VP/ MD and clients I worked with sat in London and I was in India. So same transaction experience as any other analyst (from admin stuff to valuation to creating end to end books). And in most cases, I was the sole analyst running the show/ creating books directly for VPs and MDs across the region.
So definitely not data resource group etc where front end bankers put up requests to be delivered by the time they wake up.
Ofc I have to learn to better defend it, but this sort of gives me more confidence that those 2 years + my qualifications will help me achieve associate position directly.
Hopefully that makes sense!
Did you try to transfer internally?
TBH, id try recruiting for analysts roles. Think you have a great profile for that and will kill it from the start. Assuming all works out, you’ll get promoted early and may only be a year behind.
It’s a very steep uphill battle with only 2 years of work experience and no management or client facing experience
Just to point out MBAs in india arent normal MBAs, they're more like masters degrees
Don't wanna burst your bubble here but your odds are EXTREMELY slim for top NYC analyst roles and impossible for associate roles.
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