Law School to IB Advice?
Has anyone experienced getting into IB from law school? I'm a 2L at a pretty meh law school, but discovered investment banking through an M&A class I took last semester. It pumped me up and I have been taking classes that could help hone some of the skills that IB work may require, but I still feel pretty lost. Taking excel proficiency courses in my free time and watching people make DCF models on YouTube as much as I can. I have a B.S. in Econ FWIW.
The issue is that when I reach out to firms, most have told me that an analyst position is probably below my qualifications, but I have no idea whether that's even true. You'd think that a person who has never made a complex model on excel in their life wouldn't be able to jump right to associate. If I were an analyst with an associate who knows less than me, I would think the guy is a total dildo.
Rambly and barely cohesive rant aside, does anyone have any sort of advice for the course of action they might recommend taking to get into IB work as a law student?
The "easiest" route which I can think of would be to practice Securities Law for 2 - 3 years and then lateral to IB.
If not, an MBA also does the job.
But why make the move? Are you 100% sure you don't see yourself in law?
I appreciate the reply! I think you're right; the most pragmatic option would probably be to lateral in after a few years of practice, but I'd love to avoid it at all costs if possible.
You think maybe getting an MBA right after law school is a decent option? I've got one buddy in finance that told me--in his experience--people get an MBA as a career reset and since you can only get one, it wouldn't make much sense for me to go right to b-school after law school and squander the option of getting it later. Since he's the only person I know in the industry, I haven't had an opportunity to hear what other people think about it.
Law is sadly uninspiring to me now. Really liked the idea of it, but not so much the reality of what work as a lawyer is like now that I've seen it. But now that I'm so close to done I might as well just get the degree and move on.
MBA is mostly to change your career or take a break.
But going back to the topic, the only option would be to network with people in small or medium shops which also went to law school and request an internship.
If you get a summer internship now and you also manage to get another off-cycle until graduation, you could have a decent resume to network for larger IB.
Also, try to see if you can get into restructuring internships, your legal expertise could be more relevant for that.
Meant to reply, but made a new comment on accident.
Haha thank you for the advice, I'll keep pounding the pavement and see if some bank will take me on for this summer as an intern maybe. Just so I'm sure I understand you correctly, you're saying it's best to go right to b-school after graduation?
Toilet-ish ranking. Stupid move, but got a full ride and thought it made the most financial sense. I thought I would outsmart everybody by going to a school that has great name recognition and a decent alumni network, despite it's low ranking. I hoped people would have a weak grasp on which schools have high rankings (aside from the obvious HYS) and hire based a lot more on the names of schools that they recognize. That plan was ill-advised.
Not 100% sure, but I think I've seen some law-> restructuring or distressed/special situations credit profiles on LInkedin
Going to a meh law school is already strike 1. Not having relevant experience is strike 2. You're already older than most analysts, but not experienced enough (or carry the prestige) to go straight into an Associate role.
My honest answer is that, unless you have some relevant pre-law school work experience, you should try to land in M&A or Cap Markets at the most reputable law firm you can. How are your law grades, did you apply to OCIs? The BigLaw to IB Associate move is not uncommon. Having a Skadden, SullCrom, Fried Frank or w.e. on your resume can be very helpful. Do you go to like a Fordham, Seton Hall or St. John's type school? Not impossible.
Do you actually know anyone who was able to pull the transition from law as a graduate lawyer to IB, as in not entering IB directly from law school, through self-taught modeling, relentless networking, etc. (perhaps yourself?).
Do you also view law this way for those outside the US but still in The West (think UK,CAD,AUS)?
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