UG -> Military -> IB or MBA
Hello,
Just finished a degree at UVA and will be entering the marine infantry as an officer shortly. Near the end of my fall semester I began to become interested in finance. Even though this didn't derail me from pursuing the marines, IB or MBA would definitely be my #1 exit choice. The problem is besides preparing the the GMAT, i have no idea where to start in terms of preparing myself for life in finance. I have been reading the intelligent investor to get an idea on investing but thats about it. Any advice on how to began to become fluent in the world of finance. I have a few years to prepare myself and i was wondering what i should read, how to make myself more marketable when i exit, and what is the usual path after the military such as direct to IB or MBA.
Thanks. Any advice is appreciated.
Two paths:
a) you don't really need to do anything other than study for the GMAT, get a 680+ and go to a top 15 bschool, then essentially follow said school's established placement process.
or b) aim for direct placement in one of the bulge brackets like GS through their Vets placement program. I know other top banks have similar programs. In order to accomplish that, you will need to read this site religiously in order to familiarize yourself along with (and this sounds over-simplistic) literally google'ing "what is investment banking"; this site might also have some good primers--not sure. Once you start going down the rabbit hole of banking and all of its different functions, you'll really need to understand the difference between product and coverage; s&t; what it is a bank actually does; its place within the financial markets and the service it is providing. It also would be beneficial to eventually understand the technical skills necessary: finance and accounting (valuation methods, how the financial statements tie together). I would only recommend trying to focus on what is going on at a conceptual level though; it's not overly important that you know how to unlever and relever beta, for example.
That should be a good start. I imagine you have at least a 4yr contract, so no need to overload yourself with this right now. But maybe spend your first year or two thinking about those paths and educating yourself on the conceptual layout of banks, the industry, how everything ties together, etc.. Then reassessing if this is an industry you're interested in.
I am a former Army Officer. I did the MBA ==> Banking route, and honestly, if I could go back in time, I would try to go directly into a fintech company. Obviously that's my personal preference, and there's no right answer. My only point is that a lot changes in 4 years, so I wouldn't recommend having a dogmatic, inflexible approach right now and assume IB is your only option.
Feel free to PM me if you want to have a more candid conversation.
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