Breaking into IB in Germany – realistic chances & target firms?

Breaking into IB in Germany post-MBA from WHU is definitely a realistic goal, especially given your unique background in Investor Relations and capital markets exposure. Here's a breakdown of your situation and actionable advice:

1. Realistic Chances Post-MBA from WHU

• WHU's Reputation: WHU is a well-regarded business school in Germany and Europe, with strong ties to the finance and consulting industries. Many alumni have successfully transitioned into IB, making it a solid platform for your career pivot.
• Your Background: While you lack direct IB internships, your Investor Relations experience is highly relevant. Working on IPOs, roadshows, bookbuilding, and due diligence processes aligns closely with IB deal work. Highlighting these experiences effectively will be key.
• Age Factor: Turning 30 is not a major barrier, especially in Germany, where career transitions post-MBA are common. Your maturity and experience can even be an advantage when networking and interviewing.

2. Target Firms in Germany

• Bulge Bracket Banks: Firms like Goldman Sachs, J.P. Morgan, Morgan Stanley, and Bank of America have a presence in Germany, particularly in Frankfurt. While competitive, WHU's network can help you secure interviews.
• Elite Boutiques (EBs): Firms like Lazard, Rothschild, and Evercore are strong options. They value candidates with unique backgrounds and relevant deal experience, which aligns with your IR work.
• German Banks: Deutsche Bank and Commerzbank are obvious targets. They often value local experience and language skills, which you possess.
• Mid-Market and Regional Boutiques: Firms like Hauck & Aufhäuser, Metzler, and smaller advisory firms in Germany could be more accessible and provide a strong entry point into IB.

3. Networking and Positioning

• Leverage WHU's Alumni Network: WHU has a strong alumni base in IB. Attend networking events, reach out to alumni on LinkedIn, and participate in finance-related clubs or initiatives during your MBA.
• Highlight Your IR Experience: Position your IR work as directly relevant to IB. Emphasize your exposure to capital markets, deal processes, and collaboration with major banks.
• Focus on Storytelling: Craft a compelling narrative about why you're transitioning to IB, leveraging your past experience and MBA as a bridge.
• Target Internships: During your MBA, aim for summer internships at IB firms. This will address the lack of prior IB internships and provide direct experience.

4. IB-Relevant Roles to Consider

• Capital Markets Advisory: Your IR experience aligns well with roles in Equity Capital Markets (ECM) or Debt Capital Markets (DCM).
• Corporate Finance: Look for roles that involve M&A advisory or financial restructuring.
• Boutique Advisory Firms: These can be a great stepping stone into larger IB roles.

5. Additional Tips

• Prepare for Technicals: Use resources like the WSO IB Prep Course to master technical skills and ace interviews.
• Language Skills: Your fluency in German is a significant advantage in the German IB market. Highlight this in your applications.
• Stay Persistent: Breaking into IB is competitive, but your unique background and WHU MBA will open doors. Stay focused and proactive in networking and applying.

In summary, your IR experience, combined with a WHU MBA, positions you well for a transition into IB. Focus on networking, securing an internship, and targeting firms that value your capital markets expertise. With the right strategy, breaking into IB in Germany is absolutely achievable.

Sources: 2019 Investment Banking Full Time Recruiting - Do I Have a Chance?, Can someone just be honest with me about Deutsche Bank, Does everyone wants to leave Investment Banking after 2 years?, graduated may 2019 and recently laid off first job, Advice on career and the switch into investment banking