Am I too old to start in ibanking at 25?
I work in new york city, i'm a tax associate for a big five firm, and have a masters in tax but i'm thinking about switching to a career in ibanking. i double majored in finance / int'l business and i feel in the long run i could retire about 10 years sooner by switching to ibanking. I've only worked 80 hour weeks for a stretch of 2 months in the worst tax busy season this past year so i'm a little concerned about doing that for 2 years straight. this busy season I could handle the pain, but i think part of this has to do with the fact that i knew there there was light at the end of the tunnel. and that the tunnel wasn't that long. but most of my friends say i'd do fine because of the fact that i usually only sleep 4 to 5 hours a day anyways. (i know, my body is messed up)
I'm 25 and i know that's not that old but i'm just wondering how commonplace it is to see a 1st year analyst that's not right out of school. (i'm 3 1/2 years out of college) and what would the attitude towards me be like. Would i get a break on the hours because i'm a little older (and engaged) or is that completely irrelevant. i'm sure they don't care from what i've heard but just checking. what's the older 1st year analyst people have heard of?
No, you are not too old at 25. I knew of a first year analyst that was 29. Granted, most first years will be 22-24.
Regarding hours, no they won't care if you're a little older if you're engaged/married. Forget about it.
If you want to do banking long term ("retire 10 years earlier" if you do banking), don't enter at analyst level (which might be difficult to do anyway). Since you already have 3 and 1/2 years experience, start making plans for b-school and then come in as an associate.
Tax associate for a "big five" firm?? I'm only familiar with the big four.
Go to b-school. Enter as an associate.
Not too old. I know a fair amount of individuals, who for various reasons, started as late as 25
yes 25 is definitely ok.
Getting towards your prime. I would get in sooner rather than later.
Someone in my class was 29 when he started as a first year. 25 is ok to start if you try hard
A guy in my master's class got an analyst position at age 32. He had been playing professional sports for 8 years after college and went back to get his master's.
I'm 24 myself, and I've had several interviews with i-banks and probably gone accept an analyst position next wek. So I believe it is definitly a good age to get into the business. Of course, if you do an MBA (and only an MBA) at a top ranked b-school you might as well get in as an associate. But I'd rather start as an analyst, you'll anyway need two years to get associate.
we had a first year analyst that came in at 25. the only question is if you would want to start out at that age with the long hours. i agree with the others about the bschool/associate path
i started at 25... didn't want to go back for bschool... feel old from time to time - but age really is only a number at work. you'll find that ppl at all levels very drastically in age, experience, etc. (and no, you will not be given a break given your age and relationship status)
An important point is that you can play your tax experience as a very strong differentiator. At higher levels you see how tax and law people can add value where other bankers cannot. This knowledge can quickly steer you away from a tax-inefficient structure or you can utilize a tax-efficient vehicle that others wouldn't normally think. If you play this right, I think you can even get in as a 2nd year analyst right now and go through some additional training.
If you can get into a top 5 MBA, then why not go into PE instead. Anyway, if you're set on banking, I agree that the lifestyle change may be a shock. Straight-out-of-college analysts can take it much easier, because they move from another city, don't have many friends -- or quickly lose them (a high %age actually loses their girlfriends too) -- don't have a wife or other family responsibilities, so you may be in a different boat at 25.
The better shops will have lots of activity and hours in the 80-100hrs/week range, and they won't care at all if you can't compete with the younger analysts. That said, we are only talking about a few years older, but in terms of lifestyle you may have settled into something different that's difficult to change.
Since you have a few years experience, going in as an analyst will be wasteful, assuming that you would like to go to b-school. If you don't believe in b-school (I do), then you might as well get industry experience.
Going to b-school and then get in as an associate, you should also be aware that you will have to prove yourself coming out of b-school and depending on the group you may be faced with substantial resistance by those who "have put in the time" as analysts. The analyst experience is really unique and something you have to live through if you want to have a good understanding of what's going on and how to manage your resources. The associates without analyst experience that came into my group when I was an analyst never got the respect they deserved, unless they had some really good pre-MBA experience, e.g., CFO for a large company. Still definitely doable and this is not a big deal at all, but something to be aware of.
I hope not! I'm 25 and just now finding out about i-banking. It will be at least six months before I even start the process of getting involved...
Better late than never...
Although some analysts would never do it again, they are generally glad that they had the experience.
What about a 31 lawyer? Way too late by all standards?
definitely not too old to start, but i agree with others that you should go to b-school and start as an associate.
Why would anyone with more than a couple of years of previous work experience want to be an analyst? If you think it is because of the money, you may want to rethink. Try sitting in your cube without sleep staring into your monitor for what seems like a week -- the comp isn't that great for what will be a major life change.
Not at all. I was one of those atypical analysts and it's not a big deal unless you make it a big deal.
you can distinguish yourself with your maturity
I am 29 with 6 years of non-finanace work experience and no MBA and I just landed an associate position at a BB firm. I leveraged my technical expertise (strong computer background) along with my business planning background (lots of math, anlysis, forecasting, etc) to get my foot in the door for an interview. The interview was key. After proving that I had skills that related to their business and would add value I got grilled with personality and fit-type questions. They were basically looking for someone that would round out their team and fit in with the other people there. Don't think you necessarily have to go in as an analyst. Yeah, it might be a long shot but I though I was too. Set your sights a little higher.
26 year old in my analyst class
depends on how well you can handle younger people telling you what to do...
This dude in my training class is like 26 or 27. many kids are 23-24. 25 is fine.
For an analyst you'll be on the older side (though there are still analysts your age and older), but not so for an associate. The average person graduating from a top bschool is 28-29, and many of them do work at Ibanks for the first time upon graduation. Good luck.
Is there a way to get an assocate position without going to b-school--CFA, work experience, etc?
definitely not too old, some people become analysts after doing a PhD (though associate phd's are more common)
B-school would be a good thing to do. Associates are expected to be in the 26-30 range after coming from it from what I've seen
I just finished law school at 24 and I don't plan on getting my feet firmly entrenched into i-banking until a few years later.
I just found out about I banking recently, after 4 years of corporate experience. Now i'm trying to get into an analyst role. I do find it difficult now, given i didn't land an analyst role when i was a fresh grad, but i'm still getting interviews, so guess 25 is ok.
you are over the hill, and they don't give a crap if you are engaged, disabled, sleep deprived or have a sick mommy - get back to work.
if you just found our about ibanking, get a life and dont enter the fray. You will get run over.
You will get run over? Why? If he's prepared to put in the hard yards to make up the knowledge/experience that other younger analysts have gained then why not go for it.
After graduating I dint get a grad job, so worked at a prop house for six months, then operations for months. After that I got a job as a market risk analyst for about 1 year. Went travelling, worked as a teaders assistant for another 3 months. Before going on holiday I secured a grad job. i start soon and will be working for a retail bank witha investment bank wing and will be on a general graduate scheme where i rotate in different depts. Afer such a scheme I will be 26-27. Will I be able to move into an associate role with my experience. Or should I look to gain a role in a IB straight away. Beore I leave the prog and transfer jobs. Will my job hoping look bad. Also am I too old
I was 26 when I graduated college and entered my top three firm's analyst class. However, I'd gone to a target school (Ivy).
You are fine being 25. Its not your age that matters.
i know a 30 yr old analyst
I know some 28-30 year old analysts
what is the point of busting your ass as an analyst so that u can return as an associate after your MBA when u be relatively stress free, get into a tier 1 mba, and come in as an associate?
For those who started as an analyst after getting some experience in the field first, did you apply through the campus level recruiting or the experienced level? Networking mostly? In my mind they only recruit first year analysts on campus. Since they recruit first years so early, wouldn't I have to wait like a year before I can start if I get hired? Any help would be much appreciated.
Should be no problem, only > 30 becomes trickier.
I hope you are not too old, because I am 31 and trying to get in.
Mate, you've got a lot of experience, why the hell you want to join as a 1st year analyst? Join them as a senior (3rd year) analyst .
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