Currently a third year student at a Semi-Target and this coming summer I will be working at a Fortune 50 company as a finance analyst intern doing Financial Planning & Analysis. It was only after I accepted my offer that I read more about banking that I became more interested in pursuing that route (mainly for the exit opportunities to be completely honest).
For a while I was always for being a financial analyst at a large corporation ----> MBA ---> VC or Consulting, but I never realized two things that have been confirmed by many members on here and friends that have done IB:
1) that once you stuck with the F500 corp finance route you are kinda pigeonholed there for the rest of your life (either that or its extremely hard to exit the company forever)
2) The work itself is mundane (I always thought you would be doing the "sexy" financial things not just doing journal entries!)
Like many of you I don't want to experience either of these! If I had the chance to renege on my offer and recruit for SA Investment Banking I would do it, but I would be blocked off of campus recruiting by out career center and I don't want that to happen since I have the option to do FT IB next year. Looking more into the banks I would ideally like to see myself either at a MM or Boutique investment bank due to the smaller size and plus I don't think my GPA is enough for BB's (I'm sitting in between a 3.6-3.7 now - projected to stay the same or slightly increase till Full Time recruiting season) and from other sites and on here boutique/mm banks have a slightly lenient GPA range. My previous work experience includes serving as finance analyst interns at local companies near my school and a random tax consultant gig my freshman year.
I have talked to a lot of the people that have done full time IB recruiting this year and only ONE person of all the FT recruiting guys lateraled to RBC Cap Markets from a non-banking background their prior summer and it was from Asset Management with a ~3.5. That asset management gig is already even closer to IB than corporate finance, so it seems nearly impossible from my point of view, but is it really? How realistic is it to make the jump?
Any feedback, input, and suggestions are greatly appreciated.
FT IB recruitment is non existent unless you have an already offer from SA IB.. Try to reneg is my honest answer.
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