Investment banking as a path to macroeconomic policy?
I want to eventually work in macroeconomic policy. I am currently a first year at UChicago, and I asked my econ prof and he said investment banking/Wall Street is a good way to get to do policy. He cited people like Jack Lew and Robert Zoellick (former World Bank head). I always thought those kind of people came from academia (e.g. Summers, Geithner) and not high finance, and hence was planning on going to grad school in econ. Now I'm not so sure; I've been considering going into ibanking after college instead. Thoughts? Is there anyone here who has made the transition from finance to policy?
I think more so working at the investment bank than actually working for its investment banking division is what you are looking for. In that case, it's usually C level executives going into roles at the treasury, cabinet, stuff like that.
I would look at public finance investment banking since that job function is relevant but outside of that I think being successful at any company is the same thing as "going into investment banking/wall street" and working your way up to management and then building connections along the way.
I find your professor's advice odd... Macroeconomic policy is a very technical field, and a PhD in economics is pretty much required, followed by some work at the Fed, the IMF, the World Bank, etc.
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