From Fortune 500 to IB

Adam667's picture
Rank: Chimp | banana points 5

Hi Everyone,

I'm in my late 20s, working for a fortune 500 as a BU Financial Controller. IB has been my dream since I was a kid but due to personal reasons and despite a 6 month internship after graduating from a FT top 15 MSc I had to go for FMCG to make sure my parents back home had a stable source of income (I entered the job market back in 2014 and to my knowledge there was a lot of downsizing going on in IB).
I am at the point where I would like to move back to IB possibly in Risk or Equity Research, I'm proficient in R and Python.
I'm looking into an MBA, likely Johnson 1Y or Tuck but being a newbie I wanted to hear from anyone who has successfully managed the transition or that has a more up to date idea about where US BB recruit.

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Comments (16)

Jan 26, 2018

Hi Adam667, don't worry, the WSO Monkey Bot is here.... I'm hoping one of these links will help find your answer:

  • ALDI Internship vs. Fortune 500 Internship any banking internship interviews this fall. However, I do have offers from a few Fortune 500 ... Connecticut) looking to break into IB. As a sophomore coming from a non-target, I wasn't able to secure ... investment banks when I apply for an internship my Junior year. Am I better off just taking one of the F500<
  • Fortune 500 summer finance internship to Full-time mid-office job at an Investment bank Investment Bank in a MO position. Will it be difficult to do that if I did not have a summer internship from ... I have a finance analyst summer internship as a junior in college at a Fortune 500. I accepted the ... the bank I want to work at? ...
  • Transition from Corporate Finance into Investment Banking those activities, I have had the chance to sit in on meetings with our banking partners. Long story ... different forums related to banking and am fully aware and prepared for the lifestyle differences. Likewise, ... with internal Business Development, working through IB Rosenbaum & Pearl book, and trying to ...
  • Investment Banking to Private Equity- 6 Things You Should Know buyers perspective. A person being hired right from undergrad to Blackstone isn't functioning in ... reasons stated above is why most PE shops recruit to hire IB analysts after the 2-3 year IB period. When ... before from the IB analyst side. With that being said, I can't stress how different the buy-side is ...
  • Fortune 500 Finance Rotation to HF? If I can't get a job in investment banking, or if I decide that working 100 hours a week is ... for a HF? A) Finance rotation at Fortune 500 company while studying for the CFA-----> Get a job at ... at Fortune 500 company while studying for the CFA-----> Get a job in ER in the sector I previously ...
  • Investment Banking Analyst: A True Day in the Life experience, tailored to help you break into investment banking by acing the technical questions. IB Interview ... page that explicitly covers the investment banking interview. If you want to get prepared for the ... in addition to everything you need to know about the investment banking interview, so here&#03
  • From Private Equity Associate to VP in Private Equity analyst? Think again. Here's a tidbit from @I Invest about the path from investment banking to private ... leap from junior guy to senior manager- investment banking, corporate development- wherever. So ... is far, far more difficult than investment banking. In order to
  • More suggestions...

No promises, but maybe one of our professional members will share their wisdom: @SpacemanSpiff @ShoogSpot @Moneyball

I hope those threads give you a bit more insight.

Jan 26, 2018

It's possible to go to a boutique IB from anything finance related. This depends on several things though. Don't expect to land Jefferies or HL from where you are. Look at small shops with 5-30 people doing deals in the lower half of the middle market. It also helps if you graduated from a good school with some name recognition. Look for boutiques in the city where you are from as well as the city where you went to school; you'll have the best chance here. It will take a lot of research, cold calling/emailing and networking, but it's definitely possible. I did AM for a year before transferring to boutique IB.

Jan 26, 2018

There's an excellent thread by harvardgrad08 I suggest you read.

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Jan 26, 2018

An insurance company I assume?

In order I would choose:
Product Management - Underwriting - Finance - Actuarial

skip HR, IT, Sales, and Claims.

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?

Jan 26, 2018

@sayandarula

Why did you pick those functions in that order and what do you suppose would be in store for those positions? I ask since I'm not all that sure what product management/underwriting is, I know finance is like corp finance and managing budgets so why would that be a bad choice? and yes it is an insurance company.

I also felt like Actuarial Intern would be most "prestigious" for i-banking, but I'm not nearly good enough at math to actually pass the tests/become an actuary. It couldn't hurt for one summer though!

Jan 26, 2018

let me qualify my statements...

first off, nothing you do in any of these programs will be directly related to IB, so anything is a stretch. but i chose this order because

Product Management - deals with managing the strategy of products. you will look at things like the market for these products and the cost/benefits of offering different product lines, etc. Not directly related to IB, but similar to corporate strategy in a way and will therefore will probably give you some credibility when applying ot IB

Underwriting - Not as "prestigious" as underwriting securities at an investment bank, but underwriting insurance products will surely give you exposure to some of the same concepts

Finance - Yup... managing budgets and stuff, not quite as relevant as underwriting is to an IB role

Actuarial - True, actuaries are reknowned for their quantative skills, but the type of projects you get put on may be totally irrelevant. My summer internship during my junior year was as an actuarial intern at a F500 insurance company, and they had me do a "mortality study" all summer... it was pretty lame. also, nobody knows what an actuary is, so you may not be impressing anyone.

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?

Jan 26, 2018

Finance only

Jan 26, 2018

Pretty good start. Make sure your verbs align in terms of tense. Also, find something more active than "built".

Jan 26, 2018

Just curious, what's the font?

Jan 26, 2018

it's Palatino Linotype 9, it's the only one that could fit everything without making it seem too big.

Jan 26, 2018

Thanks.

Jan 26, 2018