Politics to Finance

Hi all, long time viewer but my first post so bear with me— I have a quick question on a potential pivot. I currently work at a large lobbying shop on a portfolio with a wide range of clients: HF’s to Agriculture to Big Tech, etc. I really enjoy the work but at some points it does feel like I am leaving a lot on the table because everything revolves around the Congressional calendar so I am only seriously working 9/12 months and work can be nonexistent in 3 of those 9. For context, I’m in my early 20’s. Policy is really interesting to me, and I would love to have some overlap in a future finance role, but being realistic, I know my credentials aren’t strong enough for any type of fund where I would be exposed to that type of work. My undergrad background is a 3.8+ in Economics and I have taken a number of finance classes, including some upper level derivatives courses ( I know that doesn’t mean much now though). I went to a non- target, but a broadly respected school. In terms of a pivot plan, what would make the most sense? B-school to a summer associate seems like the most logical move in my mind. The only other thing mentioned to me was going to law school and taking that route to eventually get to restructuring banking. I’m barely sold on the idea of practicing law, and that’s not even taking into account how much of a complete waste of time and money that option would be. Any help or guidance would be really appreciated. I’ve only really gotten input from those in law/politics so a finance perspective would be incredibly helpful. Last note is that I am planning on reaching out to alumni, but just worried that having politics on my resume could turn people away. Thanks again.

9 Comments
 

Thanks, I appreciate this. Would you say that in a group like public finance you’re probably sticking it out for the long-run ? I imagine exits aren’t anywhere comparable to the top coverage or M&A groups.

 
Most Helpful
  • if you want PE, yeah other groups are way better 
  • but it might be easier to go politics --> public finance --> other coverage/product group (no MBA needed probably) (ideally pubfin --> levfin --> PE)
    • if you interview for pubfin, it's a super easy story to sell. Your interviewer wants people more interested in public policy than finance. Most people interviewing for pubfin don't want to be in the group, but are interviewing bc it's IB adjacent. A lot of banks will look for public policy/polisci majors majors for public finance banking roles because they don't want people they hire to leave. less of a 2 and out like other groups
    • also you said you want some overlap of policy and finance and public finance is sort of that
  • with that being said, I would recommend an MBA if you want a normal IB group/more exits - as long as the school is decent. At the same time, I don't know what your financial situation is as MBAs are obv expensive. You could also stretch the clients you work on. Say you currently work with big tech, just focus on that in your resume and apply to TMT coverage groups. Doubt you will get any traction with no prior finance experience but who knows, being a econ major does help. all about telling a story
  • if you have the time, just network and apply to places. never know what's gonna stick
  • lastly, for networking calls, your current job sounds pretty interesting and I'm sure alumni would love to talk about it. only issue I see is if you're very left or right leaning and the person you are talking to is the exact opposite. most bankers are right leaning tho.
 

Awesome, thank you so much. That all makes a lot of sense and I will definitely look into it. I am right leaning and have been in a leadership office before, but in the Senate, so nothing too far-right. Thank you for all of your help!

 

Your instincts are good.

MBA to IB Associate makes a lot of sense.  IB is very familiar with the MBA career switcher and is open to recruiting and training those people.

Whoever told you to go to law school and then restructuring, don't take any advice from that person.  It's not that it's impossible.  But it's an insane route for someone who knows before school that that they want to be in finance.  I'd bet anything that person was a lawyer giving you advice that helps them feel better about their own lot.

Best advice I can give you is trust your own thought process because you're breaking things down in a logical way, and many people don't.  Choose your mentors wisely.

 

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