Pivoting from Management Consulting to IB / PE
Bare with me here because I think the context is important...
I graduated with degree in Economics. I then started work at a Fintech company as a business consultant where I gained experience in Consumer Lending at small and midsize FI's (Mainly Credit Unions and some banks).
I then quit after I was recruited by a management consultancy.
The first project I was apart of began soon after being hired. My role initially began as a business analyst and eventually pivoted to a project management role for a large bank.
The bank has an investment banking practice that I am interested in. I believe I could leverage some of my relationships at the bank for a recommendation. I am asking though these questions.
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Based on my experiences and potential references, could I bypass the analyst role and go for the associate position (requires 2 years experience of investment banking / M and A)?
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Are there courses / classes / certifications to help my case?
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Are they still going to consider GPA from undergraduate?
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If no, am I considered too old (27) or too experienced (4-4.5 years work experience) for a summer analyst intern position?
I just signed a new lease that will not be up until April, 2024 so if I were to do the analyst program I would apply for Summer 2024. The office is out of my current home state.
I mainly want to pivot to investment banking to develop some more hard skills (right now I consider these my skills: consumer lending, commercial cards, Microsoft Visio, Excel, Powerpoint, Word, automation) as I feel that all I have really gained in my short career is soft skills (project management, relationships, etc.). There are good exit opportunities from investment banking. The pay I believe is better long term for IB / PE than compared at my firm. It also could be more lucrative than if I went the MBB route.
Or should I stick down my Consulting path?
First of all - I would delete at least 50% of the details like school and specifics of your job, you are very easily identifiable. I also doubt the bank project is fully public... delete a lot of that.
What type of consulting - MBB, Tier 2, random boutique? This is doable from MBB but less likely at a smaller brand. The IB market is also basically not hiring right now, they are doing widespread layoffs instead. Even tiny boutiques are holding out for GS analysts who got laid off, no chance of getting in without significant IB experience in this market.
Commercial cards are so far away from IB that it might as well be a different company. A recommendation is all well and good, but you don't have the technical Excel/modeling skillset IBs look for so you wouldn't get past the first or second interview. Even at the lateral analyst level you are expected to come and run with models/deals within a month or two.
IMO if you are set on IB/PE you should consider a M7 MBA - these place directly to the associate level. If you are not really that set on it I'd stick with consulting as it will be a difficult path without an MBA to help you pivot.
Thoughts on instead applying for a summer analyst position instead of an associate position?
Not eligible and your resume will be filtered out. If you look at the app the requirements say "graduates between Dec 202x and June 202x"
Really top MBA -> summer associate is the best and most direct path for you
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