Non-Targets Undervaluing Breaking Into IB
Lot of the non-target undergrads I know going to the lower tier firms (BMO, Mizuho, SocGen, Nomura, etc.) are disappointed because they don't have the same level of "prestige" as the EB's and BB's. I always stress to them that they shouldn't devalue what they have accomplished because the odds were already against them!
Careers are LONG. The likelihood of one person staying at the same firm for their entire career is very low. Appreciate what you have in the moment and take meaningful actions to achieve what you desire.
In short, just be thankful and live you life.
Sometimes I feel like people overvalue it though. Anyone at a half decent school who networks can get in.
Is BMO really that bad 😭
Depends on the group tbh.
It’s pretty bad. That said, it’s a lot better than nothing at all and it’s pretty common to lateral. Recent laterals include GS, MS, gugg, Truist, BAML, Barclays, RBC, WF etc.
It’s kinda like being a pitcher in the MLB. You might play for the Tigers and you might be disappointed because it’s not the Yankees or the red socks. But your odds of getting on a better team or winning a World Series are significantly better than some guy on a random double-A team in the minors (all those guys who struck out on FT recruiting).
Aye woah woah, no need to shit on the Tigers … Detroit represent
I only picked them because I was at a twins-tigers game recently and the tigers are better than the twins.
Unless you're in Canada or if you're in the Metals and Mining group, it's probably gonna be pretty bad. In Canada, BMO actually gets pretty strong deal flow (they're a bit more aggressive than the other Big 5 in terms of winning business in more "unconventional" spaces like Cannabis). Plus, BMO Metals and Mining is the top group of its kind worldwide.
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