From Buy-Side Internship to IBD Full-time?
Good Day WSO users,
With full-time recruiting just around the corner, I'm very lost as to which field of career I should pursue. If anyone could share their similar experience or advice it would be very much appreciated!
I was recruiting for investment banking internship but ended up with a position at a sizeable pension fund doing private equity investments. Now I want to know what to do with this experience, and how to best leverage it to get a full-time job. My GPA does not make me competitive enough for investment banking (3.7/4.0), but my past experiences are good. In this case should I got with the safer bet such as a role in Asset Management, pension fund or do I still have a shot at investment banking? How valuable is buy-side experience when recruiting for sell-side?
Thanks for your help in advance!
Just to add on: How can I make my story more believable, considering most people want to do the other way around (Sell-side to Buy-side)?
Depends on where and with which banks you are aiming for, but a 3.7 is definitely enough to secure a banking gig. I know people that have had much worse and less experience.
Thanks for your comment. I was aiming high at the bulge brackets, but I'm guessing the chances are slim with a 3.7?
No, it definitely not slim. Like someone else said, it depends on if you are at a target school or not. But even then, with your experience and a good GPA (which you have), you should be fine. Just contact a few people and have a story for them
Are you at a target?
When the hell is a 3.7 GPA "not competitive enough for investment banking"? Sure, if you are coming from a non-target or low-end semi-target it can be a hurdle, but if you are coming from a target or high tier semi-target it's certainly competitive. That kind of attitude is going to hurt you in the job search process, so don't let it bog you down.
Sorry to make it sound like 3.7 is a bad gpa, I didn't mean it like that. What i'm trying to say is that I come from a semi-target school where there are a lot of competitive applicants with higher GPA and relevant investment banking experience. I don't know how to make myself stand out.
Buyside Intern to FT IBD: How to Catch Up? (Originally Posted: 12/04/2015)
Hi everyone. I interned in a buyside firm (PE/HF) and am an incoming FT analyst in IBD at a top MM. The rest of the class will be returning interns who had experience with IBD work and the group as a whole. I did modelling and all that at my internship so I am comfortable with Excel, but I am worried about not knowing how to do IB things that the rest of the class will already know. Does anyone have any advice on what I should do the rest of my senior year or when I start to make sure that I am not behind? Don't want to start off work as the bad analyst. Thanks!
The MM firm will give you a great training program, so I wouldn't worry too much about it. You could also take the BIWS modeling courses
Will a buy-side internship help with SA IBD recruiting? (Originally Posted: 10/19/2012)
I am considering a semester internship with an Asset Management firm that invests in some big-name private equity funds (KKR, Blackstone, TPG). I think that would make it a fund-of-funds but I'm not entirely sure. I previously worked at 2 boutique investment banks my sophomore year, and I'm getting ready for jr. SA recruiting. I want to take the internship and find the work interesting, but will it help with IBD recruiting? Would it look like I wasn't interested in banking if I took an internship on the buy-side after 2 previous banking internships?
Anyone?
When would you be doing this internship, during the school year or summer? If it's during the school year then definitely do it as it sounds like an interesting finance experience. If it is summer, try to get get an IB internship as the best way into IB is by doing IB, but if it is the best offer you get then take it.
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