MBA with No Industry Experience
First time poster. I graduated from a non-target school a few years ago and have been working in commercial banking (specifically in commercial lending/CRE lending) since. A year and a half ago I decided to pursue an MBA at another non-target while continuing to work full time. As such, I do not have any experience in IB despite being in my late 20s. I'm graduating in May of this year, and I know I have a major uphill battle ahead of me. I have been networking like crazy the past couple months and do feel like I've made some progress, specifically through a few connections at a BB. Part of me feels like some of these people are telling me I have a shot just to be nice/not totally crush my hopes. I understand the greatest hurdle for me is the lack of internship/summer associate experience as well as my age.
All of this to ask, am I completely cooked here? Ultimately, I don't want to waste my time or the people who are trying to help me. Any responses are greatly appreciated.
Based on the most helpful WSO content, you're not completely "cooked," but you do face significant challenges. Here's what you need to know and do:
Leverage Your Commercial Banking Experience: Your background in commercial lending/CRE lending can be spun as relevant experience. Highlight transferable skills like financial analysis, client management, and deal structuring. These are valuable in IB, especially for groups like real estate investment banking.
Network Strategically: Networking is your lifeline. Continue building relationships with your BB connections, but also expand to boutique and middle-market banks. These firms may be more open to non-traditional candidates. Use LinkedIn, alumni networks, and cold emails to reach out. Remember, persistence is key—many success stories involve hundreds of outreach attempts.
Address the Lack of Internship Experience: While the lack of a summer associate role is a hurdle, you can mitigate this by showcasing your work ethic and relevant skills. Consider taking on a short-term internship or project-based role before graduation, even if unpaid, to demonstrate your commitment to transitioning into IB.
Age Is Not a Dealbreaker: While being in your late 20s might feel like a disadvantage, it's not insurmountable. Focus on framing your age as a strength—highlight your maturity, work ethic, and ability to hit the ground running.
Target Post-MBA Associate Roles: Many post-MBA associate roles do not require prior IB experience. Some firms value diverse backgrounds, especially if you can articulate a compelling story about why you're transitioning into IB and how your experience adds value.
Prepare for Interviews: Brush up on technical skills like financial modeling and valuation. Take online courses or use resources like the WSO IB Prep Pack to ensure you're ready for technical and behavioral questions.
Be Realistic but Optimistic: Breaking into IB from a non-target MBA without prior IB experience is tough, but not impossible. Focus on smaller firms or niche groups where your background might be more relevant. Keep in mind that even if IB doesn't work out, there are adjacent roles in corporate finance, private equity, or real estate finance where your skills could shine.
You're not wasting anyone's time if you're genuinely putting in the effort. Keep grinding, and good luck!
Sources: Networking 101 – 8 tips from a “non-target” school student, The Case for Choosing a Non-Target, Investment Banking Analyst after MBA: is it possible? Anyone heard of it?, How to get into Investment Banking from complete non-target, 34 year old day trader to investment banker
You decided to do a part time non-target MBA? What did you hope to gain from this?
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