IB SA => Founded SaaS startup => IB Analyst? Advice greatly appreciated
I’m hoping the wso community could give me some advice on how best to go about my current situation.
Quick background: I was an ib summer analyst at top 10 bank in NY junior year of univ. and received a full-time offer. I ultimately ended up turning down the offer to co-found a start-up (SaaS and finance related fwiw). Now, 1.5 years after graduation, I am trying once again to get into ib as an analyst.
The reason why I’m trying to go back without getting into too much detail is that while we have been decently successful and continue to make progress (although by absolutely no means are we raking in huge profits), the aim of the company has pivoted in a direction that, while I agree is the best future for the company, is not something I want to be a part of long term.
My question to you all is what you think the best way of going about this transition is? My three biggest concerns are (1) whether my more entrepreneurial experience will be seen as a negative (2) with most recruiting happening through campuses for fresh undergrads, I’m not sure how receptive banks will be to someone with my background for analyst positions. At this point I would need to target off-cycle spots but I would believe banks look for candidates with some full time ib experience for these spots (3) banks questioning my commitment to my ib career given I had the opportunity once and turned it down. The reality is that it was an extremely tough decision at the time and I can try to explain this but I think at the end of day they will only care that I opted to take a chance on the startup opportunity instead
I will definitely connect with the bank I interned at but I don’t want to solely rely on the chance of that working out. I am sitting for the CFA L1 this December to demonstrate that I still at least know the basics. Is there anyone who has gone through something similar or that can provide some advice on how to make this transition?
Have not been in your shoes before but I honestly don't see many unique problems in your situation; I think the usual FT / Lateral recruiting would suffice (Network a lot, know your technicals and deal experience since you were an IB SA)
I don't think interviewers would necessarily view your decision as negative if you can articulate well how that position was originlly in-line with your long-term goals, and how after your company's vision shifted, investment banking now makes more sense for your career. I think your SaaS experience is very unique and will make you stand out positively. Definitely focus on your experience as IB SA as it sounds like you were a high performer.
Depending on what terms you left your SA bank, you might just be able to hit them up and see if they have any opportunities open.
I have a feeling timing will be an issue so you might not want to leave your startup just yet or have a plan for if you run out of money
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