Question about career choice
Hello all,
thought I'd ask the great people of WSO for some advice
I graduated from a target this summer studying humanities, no business background. Did a summer internship in corporate development at a mid/low market asset manager, they verbally offered me the role, before finally getting a contract to me in late February for a March start.
The team does next to no deals. I'd understand the lateral proposition If we actually had a mandate for M&A but it is not happening at the moment. The deals that have been done are small.
Stuck between two options. Stay in a role with no deal flow where lateralling into IB is going to be an uphill battle, or leave for the LBS MiM, recruit for summer internships/graduate roles, and actually give myself a proper shot at it. For context it would be fully funded and I'd come away with 0 debt.
The obvious counterargument is the job market. But I'm already getting interviews for role that would pay me the same as what I'm on now, there seems to be a block going for roles that would be considered a step-up.
I have a strong network, and moving into IB from a corp-dev role with no deals in three years time looks considerably harder than recruiting directly from LBS.
I have a good strategy for recruiting and can start preparation now before apps open in Aug/Sep.
Has anyone been in a similar position? Did you stay or did you back yourself, and looking back was it the right call?
Based on the most helpful WSO content, pursuing the LBS MiM seems like a strong option in your situation, especially since it would be fully funded and leave you with no debt. Here’s why:
LBS MiM Reputation and Placement:
LBS MiM has a stellar reputation, particularly in London, and is well-regarded for placing graduates into top-tier investment banking (IB) roles. The program is designed to help students with limited business backgrounds transition into finance or consulting, making it a great fit for your profile.
Recruiting Advantage:
Recruiting directly from LBS gives you access to structured on-campus recruitment, networking events, and alumni connections, which are critical for breaking into IB. This is a significant advantage over trying to lateral from a corporate development role with no deal flow.
Timing and Market Conditions:
While the job market may be challenging, your ability to start preparation early and leverage LBS’s resources (career services, alumni network, etc.) positions you well to secure summer internships or graduate roles. Additionally, entering IB through a graduate program is generally more straightforward than lateraling from a non-deal-heavy corp-dev role.
Long-Term Career Prospects:
Staying in a role with no deal flow could limit your growth and make transitioning into IB much harder over time. On the other hand, the LBS MiM provides a clear pathway to IB, allowing you to build the necessary skills and experience early in your career.
Risk Mitigation:
Since the program is fully funded, the financial risk is minimal. This reduces the downside of leaving your current role, especially if you’re already hitting a ceiling in terms of career progression.
Key Considerations:
In summary, backing yourself and pursuing the LBS MiM seems like the right call given your circumstances. It aligns with your goals, provides a structured path into IB, and minimizes financial risk.
Sources: Q&A: 2nd Year Analyst at McKinsey in Europe, Q&A: 2nd Year Analyst at McKinsey in Europe, Advice on career and the switch into investment banking, LBS MiM / LSE Global MiM / HEC-Yale M2M, LBS MiM vs INSEAD MiM for Management Consulting in France
Bump, gl
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