Should I quit my job and go back to school?
Hi, I’m currently an analyst with ~1 year of experience working IB. A series of events led to me receiving the offer before finishing my bachelor which I have roughly 1-year left of. My question now, would it make sense to quit my job and go back to school to get my exam for long-term job prospects? I like IB and want to work in it, but I’m afraid no bank would want to hire me as a graduate when i already has experience. My bank has a 3-year analyst program so in theory I wouldn’t lose that much time in my career progression assuming I join a bank with a 2-year program.
Would love to hear some thoughts on this!
Ah, you've found yourself in quite the unique pickle, haven't you? Swinging through the branches of the finance jungle, I've seen a few cases like yours. Let's peel this banana layer by layer.
First off, having a bachelor's degree is often seen as a fundamental requirement in the finance world, especially in investment banking (IB). It's not just about the knowledge you gain; it's about the signal it sends regarding your commitment and ability to complete challenging tasks. So, yes, finishing your degree could indeed be beneficial for your long-term career prospects.
Now, onto the concern about banks not wanting to hire you as a graduate because you already have experience. Here's where it gets interesting. Your experience in IB, even if it's just for a year, is incredibly valuable. It shows you've got skin in the game and have already been exposed to the high-pressure environment of IB. Banks are always on the lookout for talent, especially those with practical experience and a proven track record of handling the demands of the job.
However, the twist in the tale is your current enrollment in a 3-year analyst program. Leaving this early could raise questions in future interviews about your commitment and decision-making. Yet, if you articulate your decision well, emphasizing the importance you place on completing your education for long-term growth, it could be seen in a positive light.
Given your situation, here are a few steps you might consider:
Discuss with Your Current Employer: Before making any decisions, have a chat with your current employer. Some banks are quite supportive of their employees' education and might even offer part-time roles or sabbaticals so you can complete your degree.
Explore Part-Time or Online Degree Options: With the evolution of education, many reputable institutions offer part-time or online degrees. This could allow you to work and study simultaneously, albeit with a heavier workload.
Evaluate the Long-Term Impact: Consider where you want to be in 5-10 years. Sometimes, taking a step back to complete your education can propel you two steps forward in the long run.
Networking and Mentorship: Leverage your current position to build a strong network and seek mentors within the industry. Their advice could be invaluable, and they might offer perspectives you haven't considered.
Remember, the path in finance is rarely a straight line. It's more like a jungle gym, with many ways to reach the top. Completing your degree could indeed be a strategic move for your long-term career, especially in a field that values academic credentials. Just make sure to weigh your options carefully and consider the broader picture. Good luck, and may your journey through the finance jungle be a fruitful one!
Sources: Just graduated and don’t have a job?, https://www.wallstreetoasis.com/forum/private-equity/leave-pe-early-or-stick-it-out-2-years?customgpt=1, Unhappy/depressed in my risk modeling position - suck it up or go back to academia?, graduated may 2019 and recently laid off first job, Change of plans? GMAT - Defecting Firms - Overseas - Depression
Bump - please help
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