I am going to be part of on campus IB internship recruiting this upcoming fall at an M7 business school (just joined a part time program and already got permission to have full access from career services). By the time recruiting starts, I will have 2.5 years of experience in strategy Consulting at a T2 firm (i.e. Strategy&, Oliver Wyman, LEK, EY-P) in the M&A Strategy team (CDD and growth strategy focused on M&A) and 3.5 years of experience in Corporate Development where I am currently a Manager (joined as an Analyst and worked my way up). I will have been a Manager for close to a year by the time recruiting starts this fall. I think it would be weird to stick me into Associate 0 considering I have ran full deal processes myself, regularly interact with C suite at my firm and at potential targets, and serve as the primary point of contact for bankers during transactions. I would like to push for a shorter path to VP, so I was wondering if I could be brought in at a band that is higher than Associate 0? Maybe Associate 1 or 2 with a 1-2 year path to VP instead of the standard 3-3.5 years?
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Based on the most helpful WSO content, it is highly unlikely that you would be brought in at a level higher than Associate 0, even with your significant M&A experience. The general consensus is that all post-MBA hires start as Associates, regardless of their prior experience. While your background in strategy consulting and corporate development is impressive and will likely make you a strong candidate, investment banks have a structured hierarchy and promotion timeline for post-MBA hires.
However, there is a possibility to fast-track to VP if you perform exceptionally well as an Associate. Some individuals with strong experience and performance have been able to accelerate their promotion timeline, potentially reaching VP in 1-2 years instead of the standard 3-3.5 years. This would depend on your ability to demonstrate your value, leadership, and deal execution skills during your time as an Associate.
In summary: - You will almost certainly start as an Associate 0. - A faster path to VP (1-2 years) is possible but would depend on your performance and the alignment of opportunities within the bank.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/m7-ib-associate-full-time-recruiting?customgpt=1, got into M7 deferred MBA - when should I go?, Lateral hire from another consulting firm to MBB, Started in M&A this month; 30 Years old. No prior experience. Non-target school., MBA Internship Recruiting - Corporate Development/Strategy Q&A
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