going to IBD without experience

Hi all
is it possible for people to get into investment banking department after studying master of finance but without any IBD internship experience ?
How about learning master of bid data and hving CFA level 1 passed to join IBD but no internship as well

 

thank you for your response Revets It's damn true im really set on IB I believe learning some solid technology rather than pusing master of finance can help me better to adapt to the changing financial environment because of AI and Fintech just worried that i can get an IBF offer after graduate from Master of big data

johnwan
 
Best Response

Hi John hope all is well :)

Do you mean getting into IB without any previous experience? I think it's certainly possible and I've seen it happen for a few folks (1 came from MO finance, and another from industrial engineering), but it may require a fair degree of networking with some level setting of expectations with respect to firm size (perhaps boutique/MM is more realistic than BB). Generally it's beneficial to have started out as an analyst and gotten the formal training, but it won't preclude you from doing relatively well on the job if your aptitude is there and you are willing to learn. Many folks without prior internship experience joined at the FT level from various different majors.

If you end up with an opportunity to join a firm, you'll learn everything you need in due course by virtue of working on transactions for 60-80+ hours a week. It's definitely not rocket science, but it's an iterative process that is quite challenging the first few times until you become acclimated. I would recommend looking at macabacus/asimplemodel's models and/or the WSP/BIWS financial modelling guides if funds aren't an issue for you.

All the best :)

There's a closer meaning to my user name. Try reading it quickly. Perhaps you will then understand ;P
 

Alpha your comment help a lot! I am just worried that if I study master of finance, my job may/can be substituted by technology soon.

TBH, i want to have my CFA level 1 passed before studying Master of big data and business analytics in IE business school in Spain right after my graduation. I believe hving both technical backgroundand Bachelor of economics and CFA maybe an advantage for me to get into IB.

What's your idea?

johnwan
 

Happy to be of some help.

I don't think that the MSF will lead to obsolescence personally, as presumably you will be in a good position to get into a finance/IB role, which seems to be your ultimate goal. The big data degree might be a bit of a tangential play, as it might not lead to a linear progression to banking (I think this will lead to potential market/data analytics roles at financial institutions/f500 companies, though perhaps I'm mistaken).

Your original thinking appears to be sound. an MSF + networking + CFA level 1 will give you much of what you need to succeed and potentially break into banking in my view. The requisite finance knowledge you build should be quite helpful in this regard :)

There's a closer meaning to my user name. Try reading it quickly. Perhaps you will then understand ;P
 

Hi Smitherson1, yes, I'm a bot, but I'm also good looking. Hopefully, these threads help you:

Who will rescue this thread? cansecojavier Litquidity7 @dyba09"

Fingers crossed that one of those helps you.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Yeah I emailed Jamie Dimon at his personal address (my old man golfs with him twice a summer) and told him I had zero experience, but had heard of IB through watching Wolf of Wall Street. He immediately responded saying giving me a first round interview! Not sure how others do it though. I would just keep making posts like this, not utilizing the search bar, and absolutely refrain from doing external research, such as looking into the 10,000 different guides out there that address your generic question verbatim.

 

Hey Murders and executions 7070, I think you deserve a response...heck, everyone does. We're listening, sorry about the delay ...my best guess at places on WSO that could help:

Calling relevant pros to the rescue! Thebuck @BankingChimp678" cjosin19

Hope that helps.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
knightbanker:

Continue with the MS/GS BO role during the day and then intern with a boutique for free at night, I am sure if you network with boutiques and they are willing to let you work for free you can adjust your hours. Also looks really impressive for FT recruiting because it shows a great amount of dedication to IB

Possibly one of the worst pieces of advice ever given on WSO.

"I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant."
 

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