How late is too late to break into IB?
What is the likelihood of landing a IB job with a MM or BB firm once you are a few years past the traditional UG Internship to Analyst path, and how would one make the move?
Some context, I am currently getting my Masters in Finance (Grad 2023) from a solid business school while working as a Sr. Operations Manager for a defense contracting firm. I have been with the same firm since UG (6 year) and have recently been thinking about pivoting to finance (hence the MSF). My undergrad was in Management Science/Operations Research so the IB route never really crossed my mind at the time so I did not do any internships in the field. The graduate program has some solid career and recruiting resources, but working full time makes any internship type positions difficult. Before I go in an work with them on targeting a new career path, I thought Id ask you guys how realistic it would be to make the jump to IB and what types of firms I should look into.
If IB is not recommended at my advanced age of 28, what other Finance careers may be more accessible for someone with significant management and industry experience, but only academic technical financial experience?
you can break at IB at any age, it's just that the older you get the lower your tolerance for getting corrected becomes. For example, I"m 21 and I have no problem getting told to do something again by my VP and getting treated like shit, because I just rationalize it as being "part of the learning process" (because in all honesty, it really IS). But at 28, you might be getting your comments and work corrected by people younger than you and your self esteem will def play into it like "why is someone younger than me giving me directions." It happens all the time in PE, like you have 25 year olds telling 50 year olds what they have to do with their operations even though the 25 year old has no practical experience, it def plays into it. Practically though, it's not a technical thing unless you're like a super boomer who works and types super slow, but even then you could probably learn it lol.
I appreciate the response, that very helpful and something I hadnt really considered. My current industry has a very rigid chain of command as well. I have been on the other side of that however, where the most of my direct reports are 10-20 years older than I am. Maybe a bit of a culture shock coming from 40 year olds calling me Sir to a 26 year olds ripping me to shreds. I dont think it would be too much of an issue though and can understand since I have been that guy my whole career. .
On a related note, is the Analyst route the only way in or is an Associate Level role viable with industry experience and a masters? (understanding its not an MBA, but actually more related to the work we would be doing)
I’ve seen people go into associate roles without MBA but they had directly relevant careers (FDD at Big 4, M&A lawyers at big law)…
I’m not sure how relevant your role is but if you’re not directly working on M&A transactions you probably cannot get an Assoc role unless smaller boutique.
Really depends on the analyst vs associate entry - what school you did your masters at, what industry group you are joining, how desperate the bank is, quality/strength of bank/boutique, have you had modelling experience, etc.
Think senior analyst is viable with a 6-12 month promo to associate whereas coming in as associate would be tougher but maybe still doable. Analyst comp is quite strong these days so chances are your comp would quickly outpace your current role even if you came in as an analyst.
Keep in mind, average age of MBA grads is around 30 and they are coming in as first year associates so 28 in the context of a 2 - 3 year analyst program isn’t awful by any means
Thats true, hadnt thought about it like that. Though could see pros and cons for both routes at my age. Two years of an MBA would be an expensive break, but get to keep the credential and network for life. The analyst program would be a grind relative to an MBA, but more direct experience and a paycheck.
Is it really viable to go get an MBA and move directly to IB at the Associate level coming from a non-finance background? I would think there would be a lot of MBAs coming from IB trying to return that you would be competing with.
I'm turning 30 soon and coming in as a 3rd year analyst at a solid boutique MM bank. Will let you know in about 6 months if I’m too old. Coming from middle market public accounting firm (outside of top 20 so you've probably never heard of it) have almost two years FDD experience.
I’m interested in doing IB at a non traditional age like yourself and have FDD experience. Do you mind DMing me the bank that was open to your situation?
One of the funniest "warped" things about IB is how even though someone like OP has more industry experience and gets treated with more respect, even at 30 they won't come anywhere close to what an AN1 at an EB makes all-in lol, the AN1 gets shat on, mistreated, horrid hours, etc. but still makes more. Just a dumb observation.
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