Unsure of what to do
I really need your advice everyone
Started off in a non target( University of the West of England) in the UK studying international Business, initially wanted to do financial technology for my Masters but did Data Science as I thought it would make more employable in any field.
During my Masters I found out I was actually interested in finance but still pushed on with Data Science, long story short i had interviews with good tech companies but In my opinion I just didn’t have the passion to get me through as I became increasingly interested in finance. I decided to apply to IB and HFs and failed recruiting miserably. Through all this I realised it was private equity I was the most interested in and decided to focus my efforts to get into IB as an analyst to make the traditional switch
It’s taken me almost a year and I have recently gotten a compliance internship at a ftse 250 water utility company, keeping in mind I have finished my masters.
I have been using my time to learn finance and accounting from the basics again and have started building models. I feel hopeless tbh with you . I think I screwed up early on in life and I am paying for it now. I’m still working hard and learning about the industry but I sometimes feel like it’s too late for me.
I just need someone’s advice here what is the best course of action from here given my situation?
Bro no one is going to help you unless you help yourself.
What do you want people on this forum to say? Everyone wants things.
If you want to do IB, try to do IB. You can also do an MBA to get into investment banking if you want to come in with an Associate position.
If you read what I wrote you can see I am clearly trying to help myself. I’ve been networking, learning about the industry and been applying to IB roles. I am merely just asking what the best course of action is giving my situation eg how best to spin my current internship around, or which department to go into to have better chance. Thank you though for the MBA recommendation though, it is something I am looking into doing.
Also if you read it properly you would see that I am trying to get into PE ultimately, I’m assuming you do know that it’s quite difficult to join PE after joining IB as an MBA associate.
Ah, the classic tale of a journey filled with twists, turns, and a dash of self-discovery! First off, let me assure you, it's never too late to pivot towards a path that truly excites you. The world of finance, especially areas like private equity, values diverse skill sets, and your background in Data Science could actually be a unique asset. Here's a tailored plan of action based on the most helpful WSO content:
Leverage Your Unique Skill Set: Your Data Science skills are a goldmine in today's data-driven decision-making environment. Highlight how these skills can be applied in finance, such as in quantitative analysis, financial modeling, and market predictions. This could set you apart from the traditional finance crowd.
Network, Network, Network: The importance of networking cannot be overstated, especially when aiming for a sector like private equity. Utilize platforms like LinkedIn, alumni networks, and even the WSO networking guide to connect with professionals in your target field. Express your passion for finance and your eagerness to learn and contribute. Remember, it's not just about what you know, but who you know.
Gain Relevant Experience: While your compliance internship might not be directly related to IB or PE, it's still valuable. Focus on transferable skills such as regulatory knowledge, attention to detail, and project management. Meanwhile, continue to seek opportunities that are more aligned with your interests, even if they start as informational interviews or shadowing opportunities.
Educate Yourself: You're already on the right track by brushing up on finance and accounting fundamentals. Consider enrolling in specialized courses or certifications (like the CFA or relevant WSO courses) that can bolster your understanding and demonstrate your commitment to a career in finance.
Showcase Your Passion and Persistence: When you get the chance to interview or interact with industry professionals, let your genuine interest in finance and private equity shine through. Share your journey, emphasizing how your diverse background contributes to a unique perspective that you can bring to the table.
Stay Positive and Persistent: The road to breaking into finance, particularly into highly competitive areas like IB and PE, is often long and challenging. It's crucial to maintain a positive mindset and resilience. Every step you take is a learning opportunity that brings you closer to your goal.
Remember, many successful professionals in finance have taken non-traditional paths to get where they are. Your journey has equipped you with a unique blend of skills and perspectives that can be incredibly valuable in the right context. Keep pushing forward, stay open to learning, and don't hesitate to reach out for help and advice along the way. Your determination and hard work will pay off.
Sources: Help. Feeling Lost, Advice From an Advisor to Senior Wall Streeters, Advice From an Advisor to Senior Wall Streeters, I was fired today, don't know what to do...., As my username suggests, not sure what to do...
You say you target IB but you don't realize that the work at an 'IB' is the same in any Big 4 M&A team who are much more accepting of non-targets? Even any regional accounting firm's M&A team does this 'IB' work.
It seems your interest is not with the work, rather the brand of the institution you work for.
Thank you for the helpful suggestion and will look into joining Big 4 M&A. It seems you also just skimmed through my post because you have also missed the point.
I am interested in PE, I know most people use the traditional route of IB -> PE, and I have simply asked what in your opinion is the best course of action given my situation?
So I would suggest reading through my post again before making assumptions of my intentions for going into IB.
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