Hello. I realize its quite late to look but prospects I previously had have diminished given the virus. I'd ideally like to try out investment banking.
I have around a 3.5 major GPA non-target. Accounting Finance Double Major (graduating now), I am sitting for the CFA. I have experience in manufacturing, supply chain operations and was a tax accountant. I am considering digesting a large amount of IB textbook information and tighten up modeling. I'm very good with strangers so networking should be good.
I know an ex Wallstreet banker, he was a previous CFO and an employee at Lehman before its implosion - he was a teacher I had a good relationship with but I don't know how to approach the topic. An uncle in PE Real estate and my dad works at a fortune 500 as an exec. Although I have not leveraged any of these and made it all on my own.
I don't care if its a small shop, sweatshop or "low" prestige. It's a means to lateral. The hours and work do not intimidate me in the slightest, I've already worked through harder. Give me the realities and tips. What I should do, how I should do it and who to talk to and how. Thank you.
(Preferably answers from those who have lived it and know it, no freshman who haven't please.)
Hi A Man With Questions, any of these threads helpful:
I hope those threads give you a bit more insight.
I'll bite. But there are plenty of other posts on here that should give you guidance on how to lateral into banking, which I am also in the process of doing.
First things first, sitting for Level 1 shows that you are dedicated to the profession. I've heard it's not that bad especially if you majored in Accounting or Finance. I've talked with bankers that have just level 1, or are a full charter holder and it definitely gets you looks from recruiters and is a good credential to have. As a professor of mine once said, "A CFA holder tells me that the person is not an idiot, or that person knows how to grind"
Secondly, you need to use those connections that you have to the ex-Lehman boi, your RE PE Uncle Tom, and Dad. Ask the Lehman boi what his experience was (did he start as an analyst? What tips does he have for being one? What did he carry over from banking to being a CFO?) and tell him why you are interested in the industry. Then ask if he has anyone that would be helpful for you to connect with/talk to. Do the same thing with your uncle except tailor it towards real estate. Show that you're genuinely interested in his industry.
As stated by other people on this forum always have an ask. If you don't, you're wasting both your time and the person across from you. Hopefully at the end of the conversation they will like you and be willing to offer their network.
Utilize your alumni network. You go to a non-target, but I'm sure there's at least a handful of alum across the street. Find them and talk to them the same way you did to Uncle Tom.
Don't be afraid to cold email/message non-alumni. If you can find a common interest, great, if not keep your email pointed (plenty of threads/tips on how to do that on here).
Good luck. It's tough out there.
Edit: In regards to the networking, your whole goal here is to make a good impression on the banker and hope that they think of you when a spot opens up in their team or a team near them. If you do a networking call now, ask to grab coffee when it's socially acceptable to do again. You want someone to drop your resume in the hat or get you an interview. From there it's on you.
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