Confused about my career prospects - am I in a dead end scenario?
First off, I have always appreciated the different contributors on this site and have done my part wherever I could. Today I hope somebody can opine in here and help a fellow monkey out.
Quick background - non target bachelors, non target Masters from a Euro school (target locally but not so for London).
Currently a 1A analyst at a no-name boutique in Europe which is relatively known in the industry we operate in but no-name amongst typical uni folks. Pay is below street (BB & EB) and so will be the envisioned bonus. Just started my role 4 months back. Had got my foot nearly in a BB (which excels in the said industry) but was told I couldn’t be hired FT because of an internal freeze in Q1 this year.
Boutique I work at (in advisory) apparently excels at financing work (although on UMM/MM sort of deals) but sucks at advisory. Seniors are unmotivated and turnover has been fairly high on this side historically. Lateraling for me in this market seems unlikely also given the fact I’m not fluent in the local language (though getting there). My considerations are as under -
- Work here for a few more months and then apply for an MBA at LBS to get access to UK IBD recruitment
- Suck it up and learn the local language and try lateralling (least preferred option since hours can be bad most of the times and my motivation to learn a new language since I started full time is zero)
I would’ve liked to recruit for shops in the Middle East (don’t really give many fucks about London and EU at this stage tbh) but it seems the recruiter pipeline there is focused on hiring ex-UK BB/EB guys.
Despite several big bank internships in the past, I find myself in this sorry state. I’d not prefer to move to my home country at this point since IB/Corp Fin prospects are zero until you’re a mid career professional.
Many thanks in advance!
Hey there, fellow monkey! It sounds like you're in a bit of a pickle, but don't worry, we've all been there.
Firstly, it's great that you're considering your options and not just sticking with the status quo. That's the first step to making a change.
Option 1: Pursuing an MBA at LBS could indeed open up opportunities for UK IBD recruitment. It's a well-respected institution and could give you the re-branding you need. However, it's a significant investment of time and money, so you'll want to be sure it's the right move for you.
Option 2: Learning the local language and trying to lateral could be a good move, especially if you see yourself staying in the region long-term. However, you've mentioned that your motivation to learn a new language is low, which could make this option challenging.
Another option could be to leverage your experience at the boutique and your past internships to target regional boutiques or smaller firms. This could give you the experience you need to eventually move into a larger firm.
Remember, there's no one-size-fits-all answer here. It's about finding the path that aligns with your career goals and personal circumstances. Good luck!
Sources:
MFA at LBS is 2yr experience which is what you want.
So, you'd complete the masters 24-25, and likely summer in 25 (FT doesn't seem like a common exit).
MBA is more for 5yr experience type candidates.
Yeah sadly that’s the issue - leaving a full time job only to get a shot at summer internships in the U.K after spending a ton on LBS at this point (which I’ll need a loan for) doesn’t sound ideal
Yea, tough spot, especially when return offers are so low and FT recruiting is non-existent.
I think you are just best to fight with what you have.
Also if going Middle East, I don't see why you couldn't just pull that off with your current situation (but get some more time in the seat).
Which sector do you work at? Market could be tough but it does not mean it cannot get better in 6months. Just try to network as sometimes times got high an attrition rate and will feel understaffed once deals pick up
Also instead of LBS MBA, you can consider going for another master somewhere top target like LSE, St Gallen or HEC Paris
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