Am I cooked?
Im a freshman at a HYPSM with no idea what field in finance I want to go into. I have deep interests in public markets, but finance mentors around me are all telling me I should go IB -> PE, and that if I work hard maybe I’ll get to go straight to PE out of school. When do I have to make a decision of what field I want to pursue? As of right now I’m doing a few Searchfund internships but no LBO action, just deal sourcing.
Part of the reason why I don’t find much interest in IB may be that I don’t know what I don’t know. I understand the very basics of accounting and barely any valuation, and part of me feels that it’s already too late for me to start the IB prep process because I don’t know these things. Half the time I have not a clue what you guys are talking about.
Sorry for the rant. I don’t want to go to my coaches because they’ll look down on me for it, so just thought I’d get some help from you guys. If going into IB means 1000k+ one day then I’ll suck it up, but is it too late to go to a bulge bracket or elite boutique in the position I’m in? Just need general guidance/help. Thanks
Beyond cooked. I think McDonalds are still taking late applications for HYP freshman, would see if you can get a contact to get interview there
.
Based on the most helpful WSO content, you're far from "cooked" as a freshman at a HYPSM school. Here's a breakdown of what you can do to get on track and make an informed decision:
It's Not Too Late: You're a freshman, which means you have plenty of time to build the skills and experiences needed for IB or any other finance field. Many successful candidates start their preparation during their freshman or sophomore years, so you're right on time.
Explore Your Interests: Since you're unsure about IB and have an interest in public markets, consider internships or roles in equity research, asset management, or hedge funds. These fields align more closely with public markets and can help you determine if IB is truly the right path for you.
Build Your Finance Knowledge: Start learning the basics of accounting, valuation, and financial modeling. There are plenty of resources, including WSO's Financial Modeling & Valuation Bootcamps, that can help you get up to speed. You don't need to be an expert right now, but having a foundational understanding will make you more confident and competitive.
Leverage Your Search Fund Experience: While deal sourcing isn't directly related to LBO modeling, it still demonstrates an interest in finance and deal-making. Highlight this experience on your resume and use it as a talking point when networking or interviewing.
Networking is Key: Start reaching out to alumni, professionals, and peers in the fields you're interested in. Networking is crucial for breaking into IB, PE, or any competitive finance role. Use LinkedIn, school resources, and WSO's networking guides to build connections.
Decision Timeline: You don't need to decide your exact career path right now. Use your freshman and sophomore years to explore different areas of finance through internships, clubs, and self-study. By the time junior year recruiting starts (typically sophomore summer or fall), you'll have a better sense of what you want to pursue.
IB to PE Path: If you decide to pursue IB with the goal of transitioning to PE, know that it's a well-trodden path. However, going straight to PE out of undergrad is highly competitive and typically requires top-tier internships and networking. Focus on securing a strong sophomore internship in finance to position yourself for junior year IB recruiting.
Don't Be Intimidated: It's normal to feel overwhelmed when starting out. Many students feel the same way, especially at a HYPSM school where the competition is intense. Focus on incremental progress—learning a bit more each day and taking small steps toward your goals.
In summary, you're in a great position as a freshman at a top school. Take the time to explore your interests, build your skills, and network. Whether you choose IB, PE, or another field, the key is to stay proactive and open-minded. You've got this!
Sources: Pre-Investment Banking Internship: Calling all freshmen and sophomores, Medical School --> IBanking, Being Black is Paradise, https://www.wallstreetoasis.com/forum/investment-banking/do-i-stand-a-chance-in-investment-banking?customgpt=1, What do sophomores usually do for internships?
Dude, don’t go into a lifelong career so you can “suck it up” for 30+ years and MAYBE make a lot of money down the lane. Will be the biggest mistake OF YOUR LIFE. Do a sophomore year summer IB internship and if you don’t like it then don’t do it simple as that.
Voluptas magnam magnam consequatur blanditiis eius vel. Quis ex qui officia autem. Praesentium enim et vero porro doloribus vitae aspernatur et. Velit sint eligendi rerum et consectetur.
Et molestias et deleniti. Dolores labore voluptatum magni architecto possimus autem aut.
Velit velit molestiae est quis optio. Fugit et est quo est libero natus non. Id eos molestiae expedita laborum.
Et vitae facilis delectus. Corporis accusamus eos facere itaque possimus aspernatur. Error numquam repudiandae temporibus non accusantium et laboriosam. Sunt aut quia est possimus rem voluptas ut in.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...