How to Transition Into Banking
I recently read a few books about investment banking, what it is like and how it operates. I am extremely interested in starting a career in investment banking. I have a friend that landed a IB internship this summer with one of the most prestigious banks in town. I am posting on here to try and figure out how to jumpstart a banking career. I have been reading a ton of post from this website and the massive amount of information seems almost overwhelming. Here is some info about me
-I attend the most prestigious public college in my state for business, but not many students go into banking, the big banks don't come to our campus.
-I am a rising senior studying marketing.
-I am working 2 internships this summer, I work for a morning talk show as their social media intern (5:30-10am.) then work for a marketing firm after (10:30-7).
-My GPA is rather low, actually, really low, only 3.07
-I am a first generation college student, I have no connections in banking besides the friend that I know who landed the big IB internship. I know networking will be critical for me to go anywhere.
Does anyone have any advice on how I could try and transition into a banking career? What should I focus on so I can gain the most knowledge possible? Would I need to change my major to something like finance/accounting/econ to boost my chances?
I appreciate any tips that are given.
The fact of you being a first generation college student will probably be your only help. Your GPA needs to get significantly higher, but might be hard because you only have a 2 semesters to go. Reach out to any alumni and network with them. Or, business school could be another option.
Best of luck.
Pm'd you. I got a lot of questions and would like to try and help.
As you keep diving, the info will become less overwhelming. Relax and start formulating a realistic plan while focusing on the info that is relevant to it; the rest is noise. I recommend preparing safe/fall back employment options that can provide you a lateral opportunity after 1-2 years (if graduating in 2 semesters is a must). I would also consider moving your graduation back a year (maybe switch majors to finance) creating an entirely different avenue to banking. Both of these topics/routes are covered in depth on this site.
As a side note, I would also pump the brakes and consider... Why banking all of sudden? You seem to have a liking for the word "prestige," which suggests you have a youthful need to compete with your peers for it. What are the chances you are simply jealous of your friend and not all that interested in banking? You spent your entire undergrad life set on marketing, landed two internships (maybe others previously), and now have a frantic need to switch? I don't buy it and neither will an interviewer. To be fair, you were dosed (understandably) with an excited friend projecting the prestige, pay, and exit ops of banking.
I appreciate the thoughtful comment. There is definitely a competitive side to me that wants to reach the top and achieve the most sought after jobs. I see banking as the pinnacle of elites jobs, I will look further into banking, and the different avenues, to see what I can do.
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