IU Kelley; Non-Workshop -> BB M&A Investment Banking NYC
Hey everyone. Longtime reader here; first-time poster. Thank you in advance for taking the time to check it out.
Scenario: I'm a bit older than the average bear working on my bachelor's degree.
Started over from scratch at community college and transferred. I found IU Kelley was ranked like top 10 in the country for Finance (I believe Poets and Quants had it ranked at #8 worldwide at the time). I kind of thought top 10 finance translated to 'target school' for investment banking so I got here and grinded. I had some pretty serious heath problems which had to get sorted along the way but I stuck to it. I'm now doing I-Core which is like the start of junior year and have a 3.5 GPA although I plan to get that up to a more respectable 3.7 range by the end of this summer.
As of right now I have a double major set up which should leave me with 2 more summer breaks after this one. I have the options to play around with timelines ie go just Finance or change IS to something that can be finished faster etc. I tried applying for IBW and got denied although I am allowed to try again if I am willing to wait an extra year. I have been told that I would be very competitive/highly qualified for regional investment banking.
As of right now: 0 internships; pretty much 0 leadership/club involvement. I would also add that I run a full-time business on the side to be able to put myself through school. I also run a Christmas fundraiser with local charities every year through my business. I am at about a 75% understanding level of the concepts (I know enough to talk out the formulas, I can have convos ab it, but right now I still make mistakes).
My long term goal is to work in private equity at Blackstone and go to UPenn Wharton and as I understand, I first must do some banking so my short-term goal is to work at JPM/Goldman/Moelis.
What do you guys think is the smartest move?
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Reapply to IBW and pray to God that I get accepted this time (as I understand, this essentially makes me a 'target' and I'm practically guaranteed a seat somewhere). Pros: future secured; cons: i finish school another fucking year later :(
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Network like a madman contacting Kelley alum + any friends I know that have graduated and gone on to the Wall Street.
pros: ? cons: no guarantees -
continue to maintain 3.7 GPA and somehow pull an 800 GMAT out of my ass and maybe be admitted straight to UPenn Wharton for Masters in Finance?
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Give up/go for regional investment banking?
pros: ?
cons: might have to change my username to 'bornpoordiedpoor' :(
Lol
1. So you'll be 28 when you graduate? Are you sure you want to be an analyst until you're 30? I would consider something else...
2. You keep making excuses for yourself when millions of people in your shoe face the same thing but thrive under the pressure - change your mindset
3. I thought Wharton got rid of their MsF program over a decade ago?
4. You're not eligible to transfer to an Ivy League school unless you're a veteran. Had to be before the end of your sophomore year and you'd need a 3.9+.
5. There's nothing about you that tells me you actually want to do IB, sounds like you just want easy money. Considering your circumstances, I'd look at something like corpdev or strategy, shoot for an MBA around ~32 and reassess. Would highly recommend against IB at your age. Maybe you can get a consulting gig out of an MBA? Or even now...
Would he live younger by the day by not getting a bachelor degree and working at a 180k job?
1. If I choose to keep the Info Systems double major yes; if I dump that I could be out of here by ~26. Why should I consider something else?
2. I don't really feel like I'm 'making excuses for myself' - I am painfully aware of my situation and asking for advice on how to better it.
3. I could be mistaken but I am fairly confident that they do have a MsF program.
4. Fair enough looks like I'm shit out of luck in that regard.
5. If you actually read my post you'd see I really want to do PE and don't really care about IB beyond checking a prerequisite box.
Are you set on a specific geography? If your end game is PE, I would consider you to drop that IS major, graduate by 26, and intern at and target LMM PE funds and move upmarket over time. I am fairly sure there are plenty of LMM funds in Bloomington - reach out and offer to work unpaid during the school year.
Penn student here, they do not offer an MSF degree as a degree you can directly apply to, the webpage that describes the MSF degree is talking about the process of being awarded an MSF degree on the way to getting your PhD once you finish the initial doctoral coursework. Additional source: Friend who went through graduate school process there
Kelley doesn't place into Blackstone PE. Next question.
I think you misread my post... right now I'm trying to find a way into a place like JP Morgan/Goldman Sachs/Moelis to work for 1-2 years as a financial analyst in investment banking m&a department. if you're telling me it is impossible to have Kelley on your list of schools in your resume and get a job at Blackstone, you are wrong. I know of one VP from Blackstone who went to IU, worked elsewhere a couple years, and moved up fast. There is also an associate at Blackstone who did much the same sort of thing. There has even recently been an summer analyst intern at Blackstone. I'm not mentally disabled or anything so if it was possible for them, I believe a similar outcome can be possible for me.
This is me being as sincere as possible. Probably not realistic to place at those firms unless you're a stud with a 3.8/9+ GPA, in IBW, and have multiple leadership positions as well as relevant internship experiences prior to applying. I didn't get into a similar thing at my school (Big 10) and ultimately didn't get a banking offer despite having all the things mentioned previously plus hundreds of networking calls. Now I'm going to intern at a big 3 restructuring consulting firm happier than I ever would be in banking.
Thing is, those people at Blackstone either knew someone, or got into banking at a point when it was much less competitive. You're at a SIGNIFICANT disadvantage and while I don't think anything is impossible, the likelihood of you getting it based on your experience is unrealistic. Dump the Info Sys. major to get out earlier, pay for an MBA out of IU or a bit better of a school, and then work your way up from banking to wherever you want to go. I personally believe it'll be highly unlikely to get into Blackstone out of most semi-targets solely for the reason that they can find the same candidate out of a HYPS, some diversity kid, or daddy's favorite son. Set your sights as high as you can, but doesn't hurt to be brutally realistic as well.
Did you use your little consulting frameworks to figure that one out?
Is this supposed to be a burn? Common sense prevails.
This is the most clickbait title of all-time on WSO
;)
You are in over your head if you think that you can land GS/JPM or Moelis with a 3.5 and no past experience from IU. Best advice would be to think about regional small boutiques that would be willing to take you to get experience and lateral from there. I am telling you that you have 0% chance at the top banks with this profile, aim for smaller banks in your area and with networking you might be able to get something
I am well-aware I'm not qualified yet! My game plan right now is to focus on raising my GPA to 3.75 level (this should be taken care of either after this semester or after summer) and probably a small regional boutique internship if I can find one for the summer. I figure if I manage to build up some internship experience with small regionals and rise up to the 3.75 GPA, I should have a good enough chance at trying for next summer no?
Weirdo- fyi ibw kids like to troll wso frequently and there are not many 25 year olds majoring in finance and information systems applying.
tbh I already got denied; they are more than welcome to troll away haha.
You need to dm him yesterday!
Introduce me + Help me organize a Lev Fin Day and/or Week at IU Kelley and you can be my right-hand man (I'll have to teach you everything prior). This is 1 of the schools I'd love to get involved with once I launch my Lev Fin Online Course / Primer in the coming months, but can teach a group of ppl right now (prior to launch). See my thread of comments to understand what I can bring to the table.
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