American trying to pivot to IB in Europe w/ MBA
What are prospects for this pivot in various European MBA programs? I know the timelines are tricky.
Context: exp in insurance industry as financial / risk analyst. Want to pivot to EU and decided my goal is to break into IB as associate post-MBA, if at all practicable. I'm fully aware US is best market and US has best schools for IB placement. I'm also not considering LBS (which I know is the best for IB) or any British schools as I would like to pick up a 3rd language and remain in mainland Europe if possible, but would be open to long-term career in London. Also have dual lat-am citizenship, if that is potentially relevant - I know it allows for quick path to Spanish citizenship.
Considering the following, placed into tiers by general MBA prestige & ranking (but not necessarily IB placement strength):
Tier 0: INSEAD
Tier 1: HEC Paris, IESE, Bocconi, IMD
Tier 2: IE, ESADE, HSG, ESCP
Tier 3: essec, edhec, perhaps others?
Anyone have any idea on how I should prioritize these? For INSEAD I will apply to Jan intake so that summer associate internship is possible. HEC and IESE have more standard timelines; shouldn't be prohibitive. Bocconi allows summer internship even while it is 1 year. Still need to do more research the rest, but most of them are quite short and I'm not sure if the timeframe + relative lack of clout may be too great of barriers to IB break-in. Curious if anyone has experience with how any of these place into IB, especially for non-local students.
I know language is important in continental placement, so target markets would be London, Madrid, and then only options like Paris/Geneva/Milan/Zurich depending upon the location of the school and how well I can pick up the language.
Appreciate any advice!
Based on the most helpful WSO content, it seems like you're on the right track with your school choices. Here's a bit of a breakdown:
Tier 0: INSEAD is indeed a top choice. It's globally recognized and has a strong network in the finance industry. The January intake is a good idea for the summer associate internship.
Tier 1: HEC Paris, IESE, and Bocconi are all solid choices. HEC Paris and Bocconi have strong ties to the finance industry, and IESE is known for its case study method and strong alumni network.
Tier 2: These are also good schools, but they might not have as strong a network in the finance industry as the Tier 1 schools. However, they could still be a good fit depending on your specific goals and circumstances.
Tier 3: These schools are less well-known internationally, but they could still provide a good education and opportunities for networking.
As for the language, you're correct that it's important for placement in continental Europe. London and Madrid are good choices since English and Spanish are widely spoken there. For Paris, Geneva, Milan, and Zurich, you would likely need to learn the local language to a high level of proficiency.
Remember, the school is just one factor in your success. Your own efforts in networking, gaining relevant experience, and performing well in your studies will also be crucial. Good luck!
Sources: European Master in Finance programmes (pre-experience), European Masters for US Students, https://www.wallstreetoasis.com/forum/consulting/managed-to-pivot-into-ma-advisory-in-a-small-boutique-instead-of-tech-consulting?customgpt=1, (EU) Which master program should I pursue for a career in finance?
Not considering LBS so you can pick up a language is crazy and I think you are oversimplifying how long it takes to pick up a language, at full office level?
100% this, especially if you haven’t mastered any other languages as an adult.
From personal experience of knowing 3 different languages growing up I’ve had a false perception that adding a 4th as an adult would be easy in a year. And this is so not the case. When you’re a kid it’s infinitely easier, yet still takes years. When you’re an adult it could easily take 5 years to be properly fluent.
you're probably right, but I think LBS (and INSEAD) are long shots in the first place. I don't expect genuine fluency in a year, so am more or less gauging how much of an obstacle "conversational but not quite fluent, whilst making a genuine effort to gain proficiency in the medium-term" language skills are to banking careers in these markets.
It seems like these schools all do a well enough job placing internationals domestically - but I just don't know if that is applicable to IB or even finance at large.
Perhaps wiser to focus on uk/spain in the near term.
Write the gmat, then assess your position. Don't count yourself out of LBS or INSEAD. Keep in mind a good american profile is a boost to the class profile
Okay lets get one thing straight, you wont land a job in Spain, Switzerland, France or Italy if you arent fluent in the language. And you wont achieve this while studying/working. Just be realistic.
Then keep in mind that Spain/Italy have virtually no IB industry and thé little jobs they have offer so little in terms of salary that you should think twice if it is worth it to put in 80
hour weeks for a that little money.
Lastly, keep in mind the local job markets. French companies will most likely only hire you if you got a Grande Ecole in your CV. Swiss companies wont hire you without a Swiss passport.
Your ranking of MBAs is pretty spot on, but honestly your best bet is just going to London rightaway. And for that any MBA you mentioned is fine
I do speak Spanish, but ty for the general insight. I’ll try to prioritize London and give some additional consideration to Madrid if it appears viable and logical. I can get Spanish citizenship after 2 years on work visa, which appeals to my long term EU aspirations - but of course will consider potential pay differential thoroughly.
Is it really true that Swiss companies won’t hire you without a Swiss passport?
I have multiple friends with EU passports working in top tier banks in Zurich with 0 issues. Zurich also has a huge skilled immigrant community?
Genuinely asking as never heard of this before.
Complete nonsense, probably an English or American guy wrote it. Loads of Germans are working in Zurich. An EU passport should be fine but speaking German is important
Generally speaking it is very difficult for foreigners to get a job kn Switzerland. Most likely thé ones you know have gone to HSG or did a couple of internships in Switzerland during their studies. Very rarely do they accept people without any prior expérience with switzerland out of university
Exactly this. Also, you should know that many European firms do not hire directly as Associates as in USA and you have to generally join as an Analyst regardless of your education. Your best bet is UK so that you can go and meet actual people. If you are stuck in Europe, you won't feel part of the society since you don't speak the language and trust me, the competition is so high that your time will be spent in preparing for interviews and all rather than learning the language.
Not entirely true. There is less MBA associate hiring, but it still exists.
This is what I meant by writing "many firms" and "generally"
How do you put IE and ESCP in tier 2 should be in 3
Rankings seem a bit all over the place so sort of making judgment calls, but appreciate the insight.
ESCP and HSG mba’s aren’t considered in all of the rankings bc they’re newer so it’s harder to gauge how they’re viewed. I believe IE had a rankings scandal a few years back so also difficult to interpret how rankings view them currently.
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