Military retirement to IB
I am trying to figure out the best route to IB with my limited network because the military has me currently in Japan while I am trying to break in to IB in the states. Undergrad is complete and I have gotten word that the best recruiting process is through physical schools but my situation doesn't currently allow it. Some have recommended specific companies with transition programs or just waiting to take an MBA once back in the states ( 30 months from now). Some others recommend taking an online MBA and potentially taking a second when I get stateside. Any good advice is appreciated.
MBA by far. You don't want to go through 3 analyst years if you don't have to. Will say that you pretty much need to get into a T20 MBA program to have a solid chance of IB. So, I would urge you to get your GMAT as close to or above 700 as possible.
Probably more so T15 than T20, with M7 and T10 being much more preferable
Currently the base education has recommended FAU for my online MBA, I have nothing to compare it to.
Don’t waste your time or money (even if it’s free) on FAU
Don't take an online MBA! Start reaching out to former military about how to transition. Prep and take GMAT. Then start looking at MBA programs for when you get out. A lot of prior military go straight into great MBA programs. Are you enlisted or officer? Are you retiring after 20 years? If so, you may run into age barriers but I'd worry about that later.
Also, what is a quick rundown of your military experience? If you spend some time in the sof community, shoot me a message.
20 years, enlisted, experience in utilities, safety, facilities, environmental, rifle and pistol training.
What branch/mos?
Also, can I ask where you received your undergrad from? YOu might be walking into an uphill battle tbh. Most of those transition programs for veterans don't say it but are for former officers. I went through one and was the only enlisted guy. Everyone else came from one of the academies.
USMC, undergrad from Campbell university because of all the transition. Overall I went through 3 or 4 schools.
Hey brother, congrats on getting to the end of your career! I would ignore Base Education or honestly anything that anyone on base has to say because they have never done what you are trying to do. Fortunately, many others have and there is a pathway for you to get there. I did an enlistment, went to a target school for undergraduate, and am going IB once I graduate. It is most certainly possible.
Your first step is to reach out to Service2School. They are a non-profit that pairs veterans with mentors (who are also vets) that will aid them through the admissions process and help you reach your goal. You should be looking at US News T15 full-time MBA programs since those are the schools that have the strongest on-campus recruitment for breaking into IB. I can PM you if you want to talk more about it.
Thank you so much for the advice. So should I try the double MBA route for the online one now or is there something else I can better spend my time on in 30 months?
Over the next 30 months, if you're trying to gain acceptance to a top MBA program, you should start studying for the GMAT or GRE - the standardized tests used in MBA admissions. You can also start reading the news (WSJ, NYT, CNBC, FT, etc), familiarizing yourself with the jargon (Investopedia is a great resource to start with), and taking some pre-MBA courses like HBS CoRE or accounting classes to get up to speed on the concepts you will be learning in school.
I would avoid doing an online MBA because you will not be able to apply to a traditional program if you already have one. On the civilian side, and in particular with high finance positions, quality>quantity for your degrees. You will be competing with very bright people who went to the best schools in the world and have worked extensively in finance, business and product management.
EDIT: As someone said above, some banks offer transition programs that will place you into one of their lines of business (Corporate Banking , IB, Commercial Banking, etc) as an externship of sorts. I know JPM, BoA , and Goldman Sachs (Veterans Integration Program) have programs but there are probably others that do too.
Wow, thank you so much. Had no idea I couldn't apply if I already had an MBA.
Agree with the above but you will have an issue with age. I’m assuming you’re roughly at 38 since you mentioned doing 20 years, you’re too old for full time MBA. There are a few people above 35 but very few. You’d be coming out of MBA over 40 as a first year associate in IB, I promise that you don’t want that. Not to discourage you but nearly all of my ex-military classmates in T10 MBA were from the academies or SF.
In 9 years, I have never seen anyone as an MBA associate over 35. I think the oldest one I saw was 32 and even people like him are extremely extremely rare. Like, not to shit on OP, but I do not think a firm will hire you. If they do, it likely won't work out. For starters, no boutique will hire you. A BB will hire older veterans but I have never heard anyone being hired of your age. Even they will only hire from top business schools. I just do not think you will be able to enter IB and I don't want to give you false hope. Does anyone disagree with me?
There was a 38yo from my M7 that went into IB. He was a fighter pilot, I think, hence the long time in service before bschool.
I appreciate the reality with age. I will definitely do more research on that issue. I have had the goal of finance since before the military. Joined to do my part in combat and stayed to train those for the next fight. My mindset has been to just go back to goals of fiance no matter the task but the pros and cons are all appreciated.
Hi OP,
Investment banking at this age is going to be extremely hard to get into.
Would recommend taking a practice GMAT test to guage if a top 25 mba is even a possibility to get into for you.
What I recommend based on your experience is doing the best regional mba program you can get into. The military will help pay for it! Then apply to corporate finance positions at Defense companies (think FP&A, Treasury, etc). They will like your previous experience and buy your story. This is a well troden path!
Take a practice test for both GMAT and GRE. Two very different tests that play to a different set of skills. I crushed my GMAT verbal but botched it on the GRE and the opposite was true on quant. So figure out which aligns better with your skills. MBA programs will accept both.
If a full-time MBA isn’t your preferred route, look at the veteran programs at big banks. Alternatively, maybe reach out to AmeriVets Securities.. I have to think they would be more receptive to your background than would some of the other banks.
Active duty Army here. Here is a link to one my comments responding to a Navy enlisted guy about getting into IB. However, he was 10 years younger than you.
Here are links to veteran programs at banks:
https://www.jpmorgan.com/global/about/veterans
https://www.wellsfargojobs.com/veteran-employment-transition-program
https://www.morganstanley.com/people/experienced-professionals/veterans
https://www.goldmansachs.com/careers/professionals/veterans-integration…
I agree with the comments above that you need to get into a top MBA program to even open the conversation.
Here are links to top business schools who have military groups where you can find someone to speak with:
Harvard: https://www.hbs.edu/recruiting/blog/post/meet-the-afaa-club
Columbia: https://www.cbsmiba.com/
Stanford: http://www.stanfordgsbveterans.org/
Booth: http://www.boothafg.com/
Wharton: https://www.whartonveterans.org/
Duke: https://www.dukefuquaveterans.org/
MIT: https://mitsloan.mit.edu/mba/mit-experience/veterans-mit-sloan
Northwestern: http://kellogg.campusgroups.com/veterans/home/
Haas: https://haas.campusgroups.com/veterans/home/
Even if you do not plan to go into IB, the MBA would help you transition to the next part of your professional career.
Before chatting with people at the business schools, you should back plan. You should first try to speak to every veteran you can find at any bank. They will be honest with you as to whether they would even entertain a 40-year-old associate. Honestly, I think you would be miserable being a 40-year-old associate. It will be such a drop in responsibility. I think it is a long shot since you are probably older than the guys/girls you will be speaking with, but if you are really committed, you might find a way. Even if they say no, those conversations will definitely give you some leads / ideas of other potential career paths.
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