Couple of Ibank Job Questions
Hi guys,
I'm entering Kellogg's MBA program starting next year (i.e. I'll be class of '09). My background includes a crappy undergrad GPA (3.15, I started a software consultancy instead of going to classes) at a top engineering school, an awesome GMAT score (770), a couple of jobs in software engineering and some startup work; I also hold a couple software-related patents. You'll note that there's zero finance-related stuff there, but lots of quantitative stuff.
I'm investigating going into I-banking or Asset Management and I've got a couple questions:
- How hard is it to get an associate position at an office other than NY for BB firms? I'm thinking particularly SF or Chicago. Is the competition much more/less intense? What about prospects for advancement 5 years later if I'm still not on Wall Street?
- Is my lack of analyst/finance-related job experience a major problem?
- Is the fact that I'm going to Kellogg, which is known for marketing rather than finance, a major problem?
Thanks for your advice
1) It is a bit tougher to get SF than NY in my opinion. There are just so few slots and a decent number of people who want those positions, especially people going to school in California. I think you'll have an easier time with Chicago obviously. When you say "not on wall street" do you mean not working in NY? As I've heard the expression, most people refer to working at an ibank as "being on wall st" regardless of location, so let me say that if you do well, the promotion schedule won't be different at a regional office.
2) Could be a bit of a problem, though Associates come from all different backgrounds. I would say about 1/2 have direct finance experience (at least at GS). Wouldn't worry too much about it - may make it easier to play into a Menlo Park / SF tech office.
3) I know bankers who did Kellogg - granted the ones that come to mind had military backgrounds which GS loves, but people from Kellogg will get hired into Ibanking this year, hope it you.
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