INSEAD MBA - Worth it for IB?
I am an engineer and am committed to break into the Investment Banking field post my MBA. Most of my experience has been in project management, detailed design engineering and in client management. The school that is of note here is INSEAD. Upon checking the employment stats, it really stands out that INSEAD is a consulting school, all in all. As it is a one year program, it is common to see people who are already working with great consulting brands, to come get the MBA and join the same firm post MBA. That is one trend with INSEAD.
However, considering a career switch for somebody like myself and that too to Banking, which is apparently not the strong suit of INSEAD, I am having double thoughts. How does the #1 ranking of the school and the network come into play here. Would it be an unwise call to attend the school and still hope to make the switch happen in a one year program? Btw, I am aiming to go for the January intake, which means that there will be a possibility of an internship.
Any thoughts would be appreciated.
Where do you want to work? If US, without a doubt, go to a top US school. If London, since you come from a non-traditional background, I would prioritize LBS over INSEAD. If you had come from a relevant finance background, I would same either works. However, I would say the main advantage of LBS over INSEAD for IB is the number of boutiques that recruit on campus; for BBs same success rates.
If LBS is not on the table, Jan intake is the right step as close to 100% of folks who get into IB come from the Jan class given that they have the option to intern during the school period and start 6 months post grad. For Jul class, you intern after graduation and start FT 1 year after grad, (or if there is a need, 6 months after)
You will be sent prep materials and given guidance - podcasts, office visits, info sessions, career advice etc - a few months before you start in January, so as you start school (few weeks after) you begin interviewing. TBH, there was not too much interest in IB and a lot of people do not apply, so in that regard there is much less competition.
Elite Boutiques such as PJT (+others) will only interview those with strong finance backgrounds (and only from INSEAD and LBS) and Banks like Credit Suisse, DB, and JPM will take few or no IB associates (across board in Europe not an INSEAD thing) so your best bet will be Citi, BAML, GS and MS whom hire sizeable numbers (and from non traditional backgrounds) most especially MS and Citi. A few of the smaller boutiques will take 1 or 2 people each year but only those with finance backgrounds. Shoot if you have further questions
Thank you already rich. But I have already unsuccesfully applied to LBS. So INSEAD is my only option. Northeast US schools are also in the past. So I am looking forward and am committed to make this happen. Don't stop till you get there and have that offer in your hand.
Yup graduated over a year ago and sat on IB and PE offers in emerging markets. INSEAD truly is an amazing experience all round - careers, travel, fun and the whole 9. I am super jealous of you. Anyway, Good luck and again, let me know if you have questions
+SB thanks for the quality info. Any more detail you can provide on which BB/MM/EB to target for Associate program from euroMBA for non-finance background? Is it really just the 4 you listed for non-finance background? Particularly interested in energy/natres/industrials groups if that makes a difference.
It really depends on the market environment. There will be some presence from all BBs (those mentioned + UBS, Credit Suisse, Barclays, Stand Chat, DB etc) the only difference is outside the 4 mentioned above, they mostly recruited for PWM or Asset Management roles. If I remember correctly, only Citi recruited for S&T. They do take 1 or 2 people each for IB roles if those roles do exist and will more than likely be people from a finance background (or non trads who networked super hard)
Your best bet for a non trad background is with those 4 (MS, Citi, BAML and GS) given the numbers they interview. If you do all you have to (all the prep work) I wouldnt stress, the success rate of those who want IB is super high. Again, only a few people do apply - the vast majority of people focus on consulting internships.
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