Breaking into IB in current climate

I know I know.. I must be crazy to think about this when you see so many people quitting... but I'd rather slave way all those hours working towards personal improvement, money, and career - than waste them on things that do not interest me one single bit.

I am soon going to graduate in an engineering related field, with the plan to aim for strategy consulting, but if that doesn't work (which has a likelihood of not working out as I am not a local), I need another solution. The original plan was to stay in oil & gas (currently have an internship there) if consulting doesnt work out, however as it so happens of course due to pandemic nobody is hiring anyone, and I hear so many similar stories from my other engineering colleagues... people who worked at well known brands for their internships still cannot stay...I mean I worked my ass off and I am frustrated by the fact that I again I will have no choice in the end but take whatever out there is offered in case consulting doesnt work (I have no specific reason to think it wont be successful but experience has taught me to be cautious in these things). I dont see that as fair, I have a great profile (otherwise I wouldnt even dare doing the strat consulting) but yeah, great profile, wrong industry in terms of degree - my perception is that finance is never in shambles when it comes to these economic downturns, I mean even consulting firms are hiring yet what I would call "regular companies, fortune500 list whatever" they show up at career fairs with a "sorry we are not hiring people now" ...suffice to say IB was something that I always considered doing, I just never had the profile in terms of target schools for it so I thought I could go for it in a few years after an MBA -  however now with so many people quitting I was wondering whether there was a realistic shot in getting a summer internship (despite not being a student by that point anymore), and just staying afterwards at one the big names in the industry.

Long post, but my profile has no connection with IB, apart from a potential aspect of a great all around CV with lots of engineering in it, grades, well known companies and some extracurricular finance courses etc. but given the current shortage of analysts and even more people leaving after they get their bonus, I see a mismatch in supply and demand that could be an opportunity for an outsider like me.


Thank you and tell me what you think about this crazy idea. Europe area btw.

Comments (4)

Jan 14, 2021 - 11:36am

A lot of the guys quitting from what I saw are US based, and unless you went to a target in Europe I think your chances are non existent without an MBA

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