I will be 30 in April. I recently discovered my longterm goal in to be in PE. I want to start with IB or PE.
My background...
- Currently enrolled to CFA Level 1 -first exam is in June 2020
- Have an MSc. in Energy finance from University of Edinburgh
- My BSc. was in environment management, but I have a diploma in Accounting.
- My current position is Finance manager for a small NPO in clean energy, my previous experience is in accounting.
- Based in Dubai
Basically I do not have a strong Finance and Banking background, more of accounting, admin and research, this is why I am enrolled to CFA. I have applied to several positions in IB and PE but I seem not to get any interviews. I try to network but none from my contacts is in IB or PE. Am open to change locations if that's what it takes.
- Am I too old for IB?
- Is there a chance to breakthrough with my current background?
- Where would you advice me to start? I really want to switch from my current industry to IB or PE.
Help this lost Girl. I am feeling less motivated lately.
Yours trully,
Dubai 1
No, you're not too old. I don't think I will start IB until I am 32/33+ as an analyst. I don't think age is an issue, experience is.
If you are wondering why I am starting older, I have epilepsy and suffer from seizures, recovering from brain surgery.
is this a joke?
No, I actually have a brain disorder.
You're going to hell for this one...
At least he’s going somewhere, as opposed to OP
I think you will need your CFA + networking OR and MBA with structure recruiting. I plan to go back to bschool and will be 32 when graduating and taking (I assume) an associate position in IB. I'm assuming most of my associate counter parts will be around 30, so I'll be an outlier, but not by much.
CFA doesn't help. I'd say nigh impossible without an MBA at a reputable university (for IB). Post MBA pe recruiting is mostly for people who have had pe experience prior to their mbas. That being said if you're dead set on it the best time to start was yesterday but the second best is now.
Ok but why? I don't mean this in a dismissing way, but you'll need a good story for interviews. I understand that's not always easy and you'll get the usual generic advice of ''what kind of experiences do you have that led you to this?''
Again, I get the point, but it's poorly expressed. No. You aren't the first nor will be the last that changes career. Absolutely. Networking. There are dozens of great threads about this here, I highly recommend reading them, make a plan and go for it. It's quite a formative experience by itself to begin with. You also seem like you need to talk with people from the industry and there's simply no alternative to this. Not even reading every single PE thread on here will be sufficient. It's just another experience and set of info you can't get elsewhere.Ok but why? Basically I vaguely knew this is what I wanted to do, I just didn't know its called PE. You know those small dreams and you see the kind of change you would like to bring to your society but you do not know where to classify it, thats me. I realized it is PE from this group actually. My experience- I have worked as an outsource accountant for a guy who did that in small time (He invests in companies and build them then sells. Most of his companies are very very small.)
Thanks for your feedback. It is very helpful actually.
You are welcome. Let me also be honest again and I'm doing it only because I want you to make it. You need a better plan. A variant of ''my childhood dream'' is not going to make the cut. Too cliché, unless you can make a good story of the evolution of your persona that lead you to it.
I know it's hard but you need to be able to talk about something that links yourself to the field. Unfortunately I'm not in PE so I can't help you that much, but there are plenty here that can.
I am in a similar situation as the OP. But I want to switch from my current industry to S&T. Do you think it is easier to break into S&T? Why did you choose S&T?
Well, what do you do to begin with?
As for myself, keep in mind I work in commodities trading, which is a bit different from the typical banking S&T. I'd pick it over it because right now fin markets are heavily dominated by algos and central banking. Commodities still reflect more traditional supply and demand logic.
In general, I'd recommend reading up what exactly you want to be into. EG, if you don't know the above mentioned difference between physical commodities and typical banking S&T, you aren't likely to look well in interviews. (I can assure you, it's a lot better to say something stupid here than there).
You are not to old to get in, just work on your network. Since you are in your 30s I know it sounds shallow , but try to workout and look act as young and energetic as a person in there 20s. More than anything give off the energy and eagerness that you will work 100s if needed. Try and read books for the technical stuff you might not know.
About looks- I think I got this covered. Most people don't get my age right. 3-4years ago when I was in business school I was asked for an ID when we went to movie theatre because the movie was not suitable for under 16. LOL! I have also paid half price for a meal because the waiter thought I was a child. These are the blessings of being 148cms and African.
I was an IB analyst at 29. It's possible.
All you guys saying it's not possible are missing that she's not US-based. PE (and IB, too) gets a lot more flexible outside of the US.
OP, you're probably not gonna end up at KKR or anything, but if you really wanted to it sounds like you could try to network your way into a Corp Dev outfit somewhere, possibly via some sort of Transactions/Due Diligence focused shop and/or through a small IB boutique. Then go from there into LMM PE.
Or go the MBA route, that would make it much easier.
Thank you. There are not many botique firms but thanks to a reply below am now looking into Middle East Soverign Wealth Fund Associate.
if you were a white male in the US, definitely too late. if you don't have a straightforward connection and considering that your last degree was not quant or business related, nobody would waste time training you in an environment where everyone else is 23yo at your level.
Why would no one waste time training a 30 year old but they would with a 24? If they are both wanting to be analyst what’s the issue ?
I agree 100% that it shouldn’t be an issue, but they first want someone who (a) are committed and (b) will fit in. A is tricky bc those who are excited about working in the industry do it right out of college. there are also concerns that being older you won’t put in the hard work and extra time to learn. B is hrs bc you’re old AF and there are concerns about older people being told why to do by younger people. if they can take a younger person who, definitely doesn’t have these issues (of which there are many) they will. . the only exception to all this is if you’ve been in the military.
Not megafunds or upper middle market, but there are always lots of flexibilities around lower middle market. At the end of the day, PE is about discovering undervalued or arbitrage opportunities in private market, and as long as you can also quickly grasp how an industry works, how to read financials mentally, and know how to operate a company, you will always be able to do PE. While there is no clear path, you should keep focusing on finding and building opportunities that will get you achieve all four of the skills. I would start first with figuring out what opportunities are available around you, and just keep building your network until you get in.
Thank you. Your advice is dully noted. Am already working on finding out who in the market is a great fit.
Believe in yourself!
I wish you the best.
Know someone from Middle East who started MBA business schools">M7 MBA at 29 > BB IB M&A Associate in NY > Middle East Soverign Wealth Fund Associate
Thank you.
Thank you. Kindly connect me with the person. He/ She maybe a start for me in networking
It’s always easier when your from the royal family and have a PM gig lined up for you
Your only chance is Business School
30 is not old if you think you are young-enough.
Try to show that you can work with young people and also influence older people.
Show you can produce results with all kinds of people.
The world wants people who produce results, not people who are young.
Good luck.
The analyst ship has sailed long ago; you're better off going through MBA summer associate recruiting; even if you conquered the odds of making it as an analyst at 30, you will be competing with 20 year old analysts and taking orders from 30 year old associates.
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