8/17/15

Good afternoon all,

After pounding the pavement for more than half a year, I locked down a job as an Associate at a boutique in NYC . I came out of a no-name undergrad with a 3.0 and general business degree, then worked in Private Wealth for 2 years before returning to Business School (outside top 10, in top 25). I had BB or MM) and at a boutique M&A/IB shop in B-school.

Throughout my process I interviewed at 3 BB, 3 MMs, and a handful of boutiques.

A lot of content on here is very accurate, but there is obviously a lot of fluff too. You have to be lucky, patient, and very persistent. Above all else, you have to want it, and I mean really want it. Wake up every day trying to figure out how to better your technical, communication, and interview skills.

I would be more than happy to answer any specific questions fellow monkeys have.

Best.

-S

Comments (25)

8/16/15

How competitive is post-MBA associate recruiting compared to undergrad analyst recruiting?

Do you have any practical tips on improving communication skills? I feel like that's the hardest out of the three to practice

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8/18/15

I do not know. I didn't go through Analyst recruiting so I have nothing to measure against. To your second question, don't stop talking to people. Practice makes perfect. Start calling people you don't care or even want a job from, then once you feel comfortable with your story, explanations for various qualitative questions, move on to your target...think of it like warm-ups in sports, except you can control when you start playing...

8/16/15

@SydViscous thanks for sharing your experiences. It seems that MBA is the only route (with exceptions of course) of making it into IBD.

I spoke to someone at a well known firm and he relayed similar advice in that either find a bigger bank that needs analysts or go get your MBA.

For me, I've worked in the O&G space for two years and am currently in a Business Development role where I am responsible for, among other initiatives, to source for potential M&A opportunities and to present those findings to upper management.

My goal was to leverage this experience (boutique or otherwise) in order to land an opportunity in IB. Seems to me that industry experience is just another bullet point and not something banks seem to care for.

Any advice?

8/18/15

I don't agree. I think it puts you ahead of someone who knows all of the BIWS/Vault answers because those guys just process information, not apply it. Working in the field means you know whats actually going on operationally - much more valuable. I know for a fact that Intrepid Partners (Skip McGee's new shop) was looking for people with all kinds of backgrounds including Bus Dev...Give them a call or start knocking on NatRes groups/boutiques.

It doesn't matter what shop you work for, it matters that it says "Investment Banking ___" on your resume. From that point, you can move up, down, or to the buy-side (yes, its MUCH harder to get PE from a boutique than a MM, or BB), but not at all impossible.

8/16/15

What do you mean by "boutique"? A place like Lazard, Evercore, or Moelis? Or a smaller shop?

Best Response
8/17/15

Don't worry, one day you'll drink from the sweet sweet nectar that is Bulge Bracket Paradise.

8/18/15
8/19/15
Satire 101:

Don't worry, one day you'll drink from the sweet sweet nectar that is Bulge Bracket Paradise.

Wow, 12 Monkey Shits and counting..? Too soon?
Was my sarcasm not sensed?

8/19/15

Here is a pat on the back and a banana, better luck next time... haha

8/20/15
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8/17/15

thanks for doing this, posting to the frontpage now

WSO's COO (Chief Operating Orangutan) | My story | My Linkedin

8/17/15

Thanks for doing this, and congratulations on breaking in. I find your story quite similar to mine, no name undergrad, few years of experience and a good but not top MBA program. I've just graduated and have been doing my best to network with bankers. I wanted to pick your brain on the networking part, is there a particular strategy or method you used to convert networking meetings/informational interviews into job interviews? So far I've had alot of positive encouragement, but more often than not ending with "send me your resume/keep in touch" conversations but haven't been able to convert anything so far. Any advice/thoughts?

TIA

*EDIT: I'm in Canada fyi

8/18/15

Buy a lucky rabbit's foot (seriously), it comes down to luck. I spoke to 400+ bankers since beginning my hunt. Everyone from Analyst 2's who got me interviews to ex-Heads of IBD USA at BBs who also got me interviews. The sad fact is that a lot of bankers are nervous, neurotic, pussies. Why should they stick their neck on the line for you if they have nothing to gain, and all to lose by recommending you? Make everyone LOVE you. Give examples that demonstrate you know how to work, your tone and clarity will tell them more about how sharp/confident you are than any canned Vault technical question. Do everything from talking to people, to sending your resume cold to firms with resume drops. You never know where it will come from, but if you push and grind, it will come.

8/18/15
SydViscous:

Buy a lucky rabbit's foot (seriously), it comes down to luck. I spoke to 400+ bankers since beginning my hunt. Everyone from Analyst 2's who got me interviews to ex-Heads of IBD USA at BBs who also got me interviews. The sad fact is that a lot of bankers are nervous, neurotic, pussies. Why should they stick their neck on the line for you if they have nothing to gain, and all to lose by recommending you? Make everyone LOVE you. Give examples that demonstrate you know how to work, your tone and clarity will tell them more about how sharp/confident you are than any canned Vault technical question. Do everything from talking to people, to sending your resume cold to firms with resume drops. You never know where it will come from, but if you push and grind, it will come.

Whoever threw shit at this one, truth hurts doesn't it pussy?...

8/17/15

Congrats on breaking in! Don't stop hustlin'

8/17/15

Thanks for doing this AMA!

Couple questions:

  1. What advice do you have for someone trying to get in to a Top 25 MBA with similar stats as yours?
  2. Did you find your internships during B-School through OCR or networking?
  3. How many banks would you say recruited at your school?
8/18/15
  1. Learn how to write, or find someone who will edit the shit out of your essays. That's what got me in.
  2. Networking.
  3. At the graduate level, 2-3. Undergrad is more competitive and get looks from BBs.
8/17/15

Thanks for doing the AMA! I'm in the exact situation you were in: an undergrad from a non-target school with <3.5 GPA. My question is how were you able to land a job in the Private Wealth field? Did you do any Wealth Management internships beforehand?

8/18/15

No PW internships, I actually had a buy-side internships in undergrad but when I came out the market had crashed so no one was hiring. PWM all you need to be able to do is talk, and frankly that is something that always came naturally to me.

8/17/15

thanks for sharing your experience, could you expand more on how you landed in your current role?

Thanks

8/18/15

I could talk for days...What can I answer specifically?

8/18/15

Kind of a random question, how much of an asset is programming in banking (not necessarily for quants, but people close to the money)? If you're good at it is it much easier to find a job?

8/18/15

It's not. I think knowing VBA at a basic/intermediate level is beneficial because excel does have limits, but at a high level it is not something to think twice about IMO.

8/18/15

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