Top MBA chances London??
Currently a Grad at a Natwest/Credit Agricole/ING in london. Graduated from a Top UK target (Job market was crap for my cohort and yes, unfortunately I underperformed in my applications). Thinking 2/3 years down the line if I feel I am unable to lateral from here to a higher tier bank (soc gen/barclays/hsbc) would I be able to get an MBA offer from an LBS or Oxford Business school? I got a 2.1 in my undergrad and will do CFA Level 1 and 2 (full charter hopefully) however I am aware of the types of CVs applying for these MBAs have BB/EB/MM experience. Other option would be an MSc finance course from a UK target.
Kind of lost here, would prefer to be able to shape my career without having to arrange funding for top MSc or an MBA and just go to a LMM PC fund or a higher tier bank but I'm trying to assess a situation where job market is still shit and I cant get my cv through the door basically.
Would really appreciate any guidance.
Agree to some extent with both statements however given I don't plan on going to the US, LBS is probably the best MBA in the UK
You'd still be better off with an LSE MSc
LBS is equivalent to M7. Fewer banks have structured MBA recruiting in the UK though
If you are eligible, go for a MSc. MBAs are not great in the UK as almost no banks offer summer associate programmes
This is just my opinion but as someone who did an MSc, I would still caution on the MSc part - especially if you come from good undergrad.
It's never a ticket to success after having talked to previous cohorts (only exception was 2021 when everyone got offers). On top of that, you will lose year(s) of experience if you start an MSc programme and it's weirder if you are not international + already work in the UK.
Thanks for the response and I'm very wary of this as I saw MSc students during my undergrad similarly struggling as well. This option is really a hail mary if I feel like I'm completely pigeon holed in the tier of banks I'm currently at.
Hard question to answer but do you think if the market picks up in the next 2 years I would be able to lateral out to a better bank? Given I network enough as my undergrad/uni brand network should help.
I'd say don't worry about being pigeonholed. You're in the industry at least. Consider how you would feel if you were doing insurance..
Yeah kind of a hard issue.
If you go MBA, there just is not a lot of IB Summer Associate hiring in the UK, whereas there is in the USA. OP, I think you'd might as well see what the lateral market can do for you, rather than regressing yourself in an MSc, and you have a few years till MBA time.
If you're in the MSc, you are still in the same pool as all of the undergrads, and if you don't place well you have 0 clout and are fucked having spent all that tuition and gotten no where.
In London IB, MBA hiring is really slowing down - banks don't really need to do it anymore. Sure, Citi and a few others still hire MBAs but you will not have an easy time at all recruiting for it.
On the PE side though - MBAs are still wanted and hired out of LBS regularly. However, it's competitive so you'd want to have a competitive profile and position yourself well. What are you doing at your current shop? Are you good at a particular industry and are there specific PE funds you can target using that expertise post-MBA? Don't limit yourself to just other tier-2 banks, PE might be a solid option (if not just the megafunds).
Your profile sounds OK for LBS MBA, assuming you have a bearable personality and have something more to write in your essays than "UK Target with 3 years in non-target IB". However, as described above - MBAs here don't always open all doors and spots for MBA-level hires tend to be less and more competitive.
If you are truly unhappy with your current role (assuming that's the reason behind this post, and not just that you feel low because you're not doing the same shit at GS), then just build a great skillset and network your ass off. Are you doing everything in your power to perform like an Associate in your current role? Are there industries you know inside out, hold any relationships in, and have closed deals in? Are there people at other banks who recognise you have talent and will vouch for you? If and when it's a yes of all of those, you'll have a role at a different bank soon. Market is gloomy but you'll find a spot at another bank sooner or later.
Also like the other guy said - do not do an MSc after a few years of working as that puts you in a no-man's land - too old and experienced for analyst roles, and overshadowed by literally everyone (better bankers, consultants, PE laterals, MBAs) for associate roles.
OP here. Thanks for the advice genuinely appreciate it. Without giving too much away I'm in a rotational programme and should be starting off a lev fin rotation soon.
To put it simply I want to leave current place in 2 years to A: Gain better comp - my places bonuses are woeful. B: Have a more recognisable name on my CV for PC exits, again ik I'm not going to get a MFPC shop but solid LMM/MM player is the goal. C: Want to venture out of the UK and I really need a brand on my CV for that.
Like you've said up skilling is exactly what Ive been advised and I'm going to try to build my own models in my own time during my lev fin rotation.
Thanks again for the help, hoping market picks up in time for me to leave. Last question though, I've had calls with some really helpful people and I know they'd help me out come recruiting - how do I actually maintain contact with them rather than just pop up after a year or two?
Are you looking for PC outside of the UK? If within UK, you might have a shot to go directly there as talent is short. Honestly, just get good ASAP and keep in touch with the recruiters and everyone you can in private credit. Outside of the UK i have no clue so yeah maybe it's helpful to have bigger brand name but can't say anything without knowing which county/which firm you're at etc.
Re. maintaining connections - it depends on seniority. If juniors, just build a genuine connection next time you meet / stay in touch over WhatsApp or LinkedIn and shoot them a "hey man how's the last few months been? want to grab coffee?" every now and then. Some will like you and respond, and others wont. If more senior, same shit, except over email and more formal, every 6-12 months (one/two solid convo is enough and they'll remember you when time comes if you clicked). If they're not in London, it's probably best to develop a mentor-mentee relationship and go to them every 3-6 months with an update/advice: "hey man, been a while. i've been grinding and closed a deal. thinking about doing xx next, would be nice to chat through it with you". Be humble and respect their time and the fact that they're probably exhausted too - so don't expect to get similar responsiveness from everyone - but sow enough seeds and you'll be fine (sounds very transactional but it's the same with making friends isn't it?)
I don't think you need any additional degree for career progression. I have a slightly similar situation, because I am gonna start a Master's degree to lateral, but I have 2 years of non IB experience under the belt so lateralling with that and a non-target undergrad degree is very difficult, especially in the current market. Your situation is way better as you are working in IB. I've seen people who lateralled from banks like Credit Agricole to better shops. Not sure how they did it, but I guess through networking. If I were you, I'd network with associates of banks you are interested in and try to build genuine connections, so that in the worst case scenario you will only make friends, and not get a job itself. And also because you're from a target, I guess there are plenty of grads from your uni who got roles in better banks, so that could be your starting point. With a Master's degree from a target you could theoretically apply for associate roles anyway, but I am guessing this would be confusing and you could get grilled over that why you did your Master's after having worked FT in IB.
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