7 Comments
 

You have a good background and you would've done very well if you had recruited for an IBD summer role. I think your resume is fine for FT IBD recruiting.

Just out of curiosity, which consulting firm that focuses on S&T business line did you work at? Feel free to pm me instead.

 

If I had to venture a guess I would say Orion Consultants. I'm wondering why you're set on FIG--your background knowledge won't translate to FIG at all. Is there a particular reason? I think you should look at getting into IBD in general, then try and lateral to FIG if you're really set on it.

 
"NESCAC"

I'm wondering why you're set on FIG--your background knowledge won't translate to FIG at all. Is there a particular reason? I think you should look at getting into IBD in general, then try and lateral to FIG if you're really set on it.

Financial services is far and away the industry that interests me the most. I'd rather work in financial services in a non-IB capacity than in a non-FIG group; it's just I think that FIG will teach me a lot more about the industry than I could learn working in corporate for the same length of time.

Could you clarify what you mean by my background knowledge not translating to FIG? I know I don't have much in the way of financial work experience, but it is the industry I worked in before school as well as this summer.

My opinion is as far as career switchers into IB go, I have as good a story as anyone for FIG, but I'd certainly like to hear more on your take as to why that isn't the case.

 
Best Response

What you did analyzing/consulting S&T desks for banks is nothing like what you will be doing in FIG. FIG can cover community banks, asset managers, insurance/reinsurance, etc. You will learn a lot about how the balance sheet drives income for banks, and be exposed to what many deem a modeling shit-storm (there are a lot of off balance sheet type arrangements and understand how those effect GAAP/Statutory accounting and regulation that banks/insurance companies need to comply with--Basel III, Solvency II, LCR, NSFR, etc.). I'm just speaking out of my ass here, but I would think you'll learn different things working in FIG IBD than you would from an internal strategy group at a bank.

To clarify, I didn't mean to imply you don't have a good story for FIG--you probably have a good as story as anyone else...I'm not a recruiter so I don't know. What I'm really saying is that I think you need to do some more research on FIG IBD because you might not have a good grasp of what it really entails/what you're potentially getting yourself into (that isn't meant to dissuade you from FIG--it's just a point).

 

Thanks for such a detailed response. I thought that might have been along the lines of what you were saying and I completely agree; I have a ton to learn regarding those topics and more-including whether or not FIG is the right call for me.

My thinking was more along the lines that coming out of business school, I won't be expected to know all that to as detailed an extent as say, a lateral hire would be. I just need to show a desire and capacity to learn it quickly enough to start being useful-which I think I can have and can show that I have.

Like you said, neither of us is a recruiter, so we'll see how the two are weighted. Hopefully I'll have something interesting to report back with.

 

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