Is an MBA needed to go from commercial banking to IB?
I graduate next year (2023) from a reputable school in Texas with a double-major in finance and accounting. This summer I am working at a commercial bank as a credit analyst & commercial finance intern but am now thinking I want to get into IB. Because I didn't intern with an investment bank this summer would they even consider me for an analyst position after I graduate? Would an MBA help?
Really depends on your deal experience and what you are working on. My team started off as commercial and is now half middle market and half corporate and we work on some pretty sophisticated stuff. So for me to transfer internally to our IB side from our corporate banking group I think is pretty reasonable if you interview well.
But if you work at a commercial bank on deals less than 5 mill and never get deep into the process than its gonna be really hard. Are you just updating models or do you help write credit memos and can really find those difference makers year to year to access risk in the 10ks?
All really comes down to is your group and experience respected and that changes a ton from team to team
How large is the bank? Is it a recognizable regional name that participates in syndicated loans (something like a Keybanc, Citizens, Synovus, Comerica)? If so, I think you definitely could make the jump especially to a "corporate and investment banking" type shop that's focused on debt. If its very small and most of your deals are below $25mm I feel like it could be tough. In that case an MBA from a top program would certainly help you get your foot in the door...however, if you are really set on IB right now I would almost recommend seeing if you can get into a top MSF right after undergrad. Those programs don't care as much about work experience so if you were a good student at a good school it should be pretty doable. Not to mention they are only one year so cheaper than an MBA. Apparently the best MSFs place lights out for IB analyst/consulting, heard good things about Vandy
Thank you so much for the input! The bank is $7B AUM so I guess it is on the smaller size. I will definitely look into an MSF program. Thanks again!
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