Jan 19, 2024
4 Comments
 

Ah, the classic "Underpants Gnomes" profit plan from South Park! You've got the humor, but let's swing back to the finance world. Breaking into banking is indeed a solid step one. It's a gateway to many opportunities in finance, which can lead to significant wealth if played right. But let's not forget, it's a marathon, not a sprint. Here's a more realistic step two for you:

Step 2: Excel in Investment Banking - Build a Strong Foundation: Use those financial modeling lessons and templates to become a wizard at Excel and understand the intricacies of financial statements, DCF, M&A, LBO, and more. - Network Like a Pro: Leverage every connection, attend industry events, and don't be shy to reach out to alumni or professionals in the field. - Climb the Ladder: Perform exceptionally well, earn your stripes, and aim for promotions. Consider lateral moves to positions with more responsibility or to firms with better deal flow. - Learn Continuously: Stay updated with market trends, and keep learning. Maybe pursue an MBA or CFA, depending on your career goals.

Step 3: Leverage Your Experience - Private Equity or Hedge Funds: Many bankers move into PE or hedge funds, where the big bucks can really start rolling in. - Entrepreneurship: Use your financial acumen to start your own venture or invest in startups. - Corporate Leadership: Transition into a corporate role, perhaps in strategy or finance, and work your way up to C-suite positions.

Becoming a billionaire or conquering the world, metaphorically speaking, requires a mix of skill, timing, and a bit of luck. But hey, keep that ambition burning; it's the fuel for success! Just remember, with great power comes great responsibility. Don't forget to use those billions for good, alright?

Sources: Breaking Into Banking: Your Timetable is Everything, Simplified Guide to Breaking in as Non-Target (EASIER THAN YOU THINK), Law to Investment Banking (One Monkey's How-To Guide), Failed to "Break In" at my MBA Program - Next Steps?, Undergrads: Non-finance, non-target, not a problem. 5 Steps to get you started.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Autem quasi nemo voluptatibus laboriosam harum debitis est. Qui id non odio voluptas repudiandae et eos dignissimos. Repellat officiis autem soluta.

Laboriosam voluptatum et autem odit in et modi. Temporibus qui et voluptatibus et. Enim beatae ea ipsum vitae quam quasi.

Aut at necessitatibus explicabo facilis. Doloremque inventore autem sed tempore officiis suscipit. Maiores amet voluptatem sit distinctio vel ullam rerum.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 07 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (50) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”