1st Year FLDP @ F100 wants to pursue IB

FLDP2IB's picture
Rank: Chimp | 11

Hello All

Background: I graduated from a non-target in 2016 (3.4 GPA, club leaderships, 3 non-relevant financial analyst internships) and did 1 year of FP&A at a small manufacturing firm. I eventually networked my way into a top F100 FLDP program last year for class of 2017-2019. I am currently finishing up my second rotation in FP&A (previous rotation in Audit) and I am set to graduate from the program in August 2019.

I honestly hate Corporate Finance and want to move to IB. I initially transferred from a local firm to F100 only because the brand name and salary (~+25K) was too good to pass and as a non-target, I thought, the brand would look amazing on my resume. I recently spoke with a few of my friends who went to semi-targets and learned about banking. I learned more about banking by reaching out to random analyst at BBs and MMs as well to those too who have transitioned from IB to PE. I am highly interested and was wondering if any of you can guide me on how I can transition from my current state to IB either via quitting the program or after finishing the program.

I am working 45-50 hrs per week but put in 70-75 during month/quarter end. I have 2 side hustles so rakes in 6K after tax on monthly basis. I was also promoted based on performance 3 months into the program. (if that matters)

I am absolutely fine starting at the bottom as a first-year analyst. I also cannot afford to do an MBA or MS (personal reasons). I have also looked into Corp Dev roles at my firm but neither the transition is possible (only hire BB Bankers) nor am I interested. I like the transactional nature of banking and see myself in banking for the long term. I think I need to start networking from now for Analyst class starting in Summer 2019 since the recruiting will start late summer.

Any advice would be super helpful. Thanks

Comments (9)

May 14, 2018

Honestly your best bet will be an MBA or reaching out to boutiques that may take a chance on you.

Most people (at least from ppl i networked with) that lateraled into EB/BB or top MM either came from boutique IBs or TAS (big 4) or some valuation nature.

Also seeing how you graduated in 2016, not sure if starting out as an analyst will make sense for you. Most people usually lateral 1 or 2 years and rarely have I seen longer than that. That isn't to say its impossible, just never seen anyone do that as much from corp fin. Probs not the answer you were looking for but just my thoughts.

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Best Response
May 14, 2018

Honestly your best bet is to stop giving career advice to people 2-3 years older than you.

Seriously it's embarassing and a waste of everyone's time

Fuckin my way thru nyc one chick at a time

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May 14, 2018

Perhaps you're right but seeing how noone responded I was giving my thoughts. Don't think i was being arrogant about my opinion either.

Also, I'd like to think my comment was on point, if there was any misinformation then please do let me know and I'll fix it

May 14, 2018

My response was too snippy but honestly things aren't as black and white as this forum makes it out to be. Yes the MBA to post IB associate is very common. But there's more than one way to make it happen.

You don't see a ton of psychology majors in IB, but is it because you CANT get into IB as a psych major, or is it because people that choose to be psych majors typically don't want to be in IB?

Questions like this are best saved for networking calls. Call someone in the industry that your F100 is in and get their thoughts. Not from juniors in college

Fuckin my way thru nyc one chick at a time

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May 15, 2018

Thanks

May 15, 2018

Thanks

May 14, 2018

You're only possibility right now is to network your face off everywhere you have a connection and hope a MM or smaller boutique gives you a shot. But, quite frankly, You need to do an MBA. You're too old and you have no relevant experience, So transferring to a reputable bank will be extremely unlikely. Dozens on dozens of people with your exact background make the switch through an MBA . You don't have the money to do an MBA? No shit, neither do most people who do them. You take out loans and if you get a good banking job, you'll pay them off in 3-5 years. And If you're diverse, there will also be a lot of scholarships both at the universities and the banks that will be available to you.

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May 15, 2018

I cant go for BSchool because I have 60k in student loans from undergrad. Do people with this much in student loan still go for an MBA?

May 15, 2018
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