External Wholesale transition to IB MD
Hi all.
ive done quite a bit of research into investment banking and sales. I know that at the MD level, IB more or less becomes a sales job. I have no IB offers as of yet, but have been looking into internal wholesaling. Compared to banking, the hours are pretty much 9-5 and pay 100-150. Later on you can get promoted to an external and make 500-1mil.
Now, is it possible to transition from an external to IB at the MD level if you prove you can bring in that much rain??? Through this, I could skip the decade and a half of 80-100 hour work weeks. Is it possible?
And let the replies begin...NOW!
Hello?
I think you are drastically oversimplifying the role of an IB MD. Yes, you are correct that sales is an important part of the job, but the skills and intuition picked up in the IBD over the years is invaluable. Secondly, as an internal wholesaler you are literally only making outbound calls to try and sell your fund/plan etc. You are not making decisions about mergers, or performing advisory services. As an external you will be going on lunch dates with financial advisors who don't know shit about what they're doing and you are building relationships to get them into your fund. I don't think it is at all possible to make this jump, however I'd love to hear what others think
not possible at all. external wholesaling and investment banking are extremely different.
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