Breaking into the IB/PE world
I graduated from a small liberal arts college in early 2018 with a general business management degree and a good GPA for having worked full time throughout college. I'm currently a banker in a branch for JPMorgan Chase and want to move into the IB/PE world. When I graduated school finance jobs in my city are few and far between and without a specific finance or accounting degree I've had some difficulties finding IB/PE positions. Besides going back to school and getting an MBA or a MSF, does anyone have any advice as to what to look for to break into the IB/PE world without a specific finance degree?
By working at a branch do you mean that you’re a bank teller?
I'm a Relationship Banker in the branch managing a book of 440 clients for a total AUM of $23.4 million. I hold a series 6 and insurance 214 licenses. I cover investments, mortgages, home equity lines, personal accounts, small business accounts, cash flow management solutions for small businesses, and loans/lines of credit for small businesses.
Holy shit, that's like 50k per client, IB/PE should be a breeze!
Joke aside, IB/PE from your position is highly unlikely without some serious networking and blind luck. Top MBAs are unlikely from your current position. Here's some potential options:
I know it's definitely going to be an uphill battle from this role and part of it is that I'm in Orlando which is not a great finance city. But I took the GMAT once and received a 710. I figured if I work harder and get a higher score I can get into a top MBA target school? Once I have that I have the connections luckily through my father who is a CPA who does valuation and transaction work around the country. I'm just trying to figure out what route makes the most sense of trying to break in without the MBA and start in a very small firm somewhere, or if the MBA will be the best option. But I never thought about moving trying to transition into the corporate finance side first to then move to IB. I appreciate the advice.
Unless your female or URM I don't think top b-schools will give you a fair shake, even with a higher GMAT.
I think your best bet is to see if a small local investment banking firm will give you a shot. Learn your valuation stuff, network locally and try and get in with someone who does small deals and could use some junior help. Work your way up from there.
I will focus on that route then. I appreciate the advice.
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