Need Help Getting Into IB
Hey everyone. Sorry if this is the wrong section of the forum to post this in; I just joined after being told this is the place to go for IB advice.
I'm a senior and will be graduating in June. I got a late start looking for a job and just began last month. I was able to do well in school (Drexel University, 3.86 GPA). The biggest problem I’m facing, though, is my lack of work experience. Aside from a part-time job all throughout high school and my first summer break, I’ve played poker to pay my way through college over the past 3 years; so I've never had to do an internship or a full time job.
I did so much damn reserch over the past month and just decided I want to get into IB, but with the two problems I’m facing (late start and no work experience) I’m not sure what would be the best approach to take. Can I even get into an entry-level IB position at this point; should I try pursuing jobs in IB now or wait until the fall when company’s recruit again; if I do wait for the fall what type of job should I try getting in the mean time; will an internship this summer at an IB (I’m not sure if any are available at this point) be good even though I’ll have graduated, should I just aim for regional boutiques instead of BBs since I would probably just be wasting my time, etc.?
I've asked for advice on some other finance forums and basically was told "You have goid grades, but you missed fall recruiting, so try to get your CFA over the next few years while you’re working in a finance-related job, get your MBA after that, then you’ll be able to make the switch over to IB." I've always been a hard worker but advice like that can get discouraging after a while. What's my best game plan?
Thanks in advance
Exactly what you've been told. Or focus on small shops
Focus on smaller firms. Most hire on a needs basis; if they need someone in June they interview 2 weeks before. Try shops like a Gemstone Group in your area, they may be less competitive than a NY IBD job.
However, what you may find is the smaller shops have no training programs. Unless you have a strong understanding of finance, you may be out of luck.
Even if you don't get into IB right out of undergrad... try this: Work hard, finance related career for a few years.. go get your MBA at a top school and try again as an Associate. A current Associate I met at a conference said if he could redo his career he wouldn't have gone the analyst route. (Take my advice with a grain of salt, sry replied before I read your entire post, but yeah do the latter if you have no other choice)
Good luck!
Agree 100%. You can go back for an MBA after only a year and be in line for an Associate role. (Others may disagree but I have seen many examples of this. Not just superstars either)
There's a lot of small shops in Philly, you should do some research and start emailing your resume
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