How can I get into IB with a Compliance/AML background?
I live in NYC and I have always wanted to get into IB but I had to get into this field because that is what came to me right after college, and its been over 3 years of consulting experience within the field. I am currently a Senior (equivalent of Associate in banking). I work in Big 4 industry, and I have been willing to leave all of this experience behind to get into banking, but I don't even know how to. I know so many people who say I don't need an MBA to get into it, or that it can be done but HOW? I have done so many applications for jobs and investments banks and nothing happened and it leaves me very discouraged and I wonder what I am really going to do, because I really like the field and want to learn about it but I don't see no need to study about the field if I am not going to work in the field, like I know the basics obviously but I don't know what to do.
You pretty much need your MBA - get in their recruiting pipeline.
thanks for the reply.
This or maybe a MF at a solid feeder uni will give you the most reliable pathway into the field.
Theoretically, you /can/ attempt to break in via backdoor networking, but this is uber challenging for anyone, let alone someone without a corporate finance background. You'd be looking for the few off-cycle 1st year Analyst roles that pop up. IBD recruiting is very much about timing and recruiting cycles and being in a pipeline is crucial. This advice rings truest for BB, EB, and upper MM shops.
If you're hellbent on breaking in w/o more school, you could probably count on finding a LMM shop to take you on. Feel free to play the lateral game from here! You'd likely take a chunky pay cut in salary and may not get benefits, but that's still cheaper than graduate school lol.
Do you have any advice for targeting the 1st year analyst roles? I'm also an AML analyst, reached out to an associate alum at a local boutique and asked if they had any positions opening up, which they said they'll be looking for an analyst soon and told me to reach out again to get introduced. I'm wondering if I actually have a chance given my background.
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