Joining the military so that I can break into IBD?
Hello Monkeys,
I am thinking about joining the U.S.A. military (whatever branch is most prestigious) so that I can be eligible for a veteran diversity program at a bulge bracket bank and join the investment banking division. What is your thought on this? Here is my background and why I am considering this option:
Went to a non-target school (3.97 GPA). I have failed for two years in a row (3 years if you count upcoming summer 2022) to find an IBD summer internship, so I am now in my senior year of university with no internships. I turned down every other internship offer I had these past few years because I was not passionate about the roles that were offered to me.
My plan is to graduate in a few months with my bachelors in finance, and immediately join a military branch and work there for 2-4 years (whichever is the minimum required), and then while in the military, using all my free time to continue studying IB, keeping up market news, practicing Excel modeling, etc. I would also continue networking. In my final year of military service, I would apply to a top business school MBA, take the GMAT, and apply to various veteran diversity programs that are available and most bulge brackets; I have heard that bulge brackets really love hiring veterans because it helps with their diversity statistics.
My second option would be to find a role in a bulge bracket in a division that I am not as passionate about, and then make a lateral move into IBD. But from what I have seen, that is next to impossible and in addition, requires an MBA.
How would you rate my plan? I feel like this is the best option for me considering my circumstances. I unfortunately did not have the resources or dedication to go to a target school, and I feel like this is my punishment for failing at that. I am willing to risk my life in a combat position (I have heard that banks look down on veterans who have 'office' roles) in the military if it means that I can earn the veteran status that is very desired in banking and finance.
One of the worst reasons to enter the military imo
Horrible idea. Do one of the following instead:
1. MSF at Vanderbilt, Villanova, Duke etc. (extra year of recruiting)
2. FLDP program at F500 --> M7 MBA --> IB
3. Transaction focused role (TAS at big 4, valuations at D&F, corporate development/strategy) --> IB
Only had to read the title..skipped the essay you wrote. Terrible idea
Horrible idea
You have a vast misconception of what it will be like. If you're joining the military simply to (hopefully) make it to banking afterwards then you will be miserable every step of the way.
Honestly, that will probably work.
As someone who has family in the military, this is quite honestly very disrespectful. Go in the military if you want to build character, truly find out who you are and to most importantly serve your country. While yes, a bright mind and military background may help you break-in, you shouldn’t go in the military and the most “prestigious branch” just to get into banking. Those guys will chew you up and shit you right back out and sniff out the softie that you are, you’ll be begging to be done after boot camp if you can last.
Not being in the military is not why you didn’t land a job. That’s clear by your post to everyone here (except to you apparently).
But airtight plan. To your point, banks not only look down in office job vets, but also those who have never been wounded. So make sure you find a way to get injured, the more times the better
Just when you think you’ve seen it all on this forum, a thread like this comes along.
Why on earth would you turn down internships? You can't know what you're passionate about from an internship job description. So either you're lazy or just dumb, because you should obviously know that you should've taken the opportunities you had and leveraged the relationships the best you could.
If you don't have any other reason for joining the military than to maybe make it to banking, don't. However, it actually sounds like it might knock some sense into you, so I say go for it.
As someone that did that, great idea. Military was awesome, best friends you’ll ever make. Then they’ll pay you to get your MBA after you’re done. I had no internship, non-target background, but received a summer associate role and going back this summer.
You’re going to have a much tougher time without any internships. The military will pay dividends far beyond your IB career. Good luck
This is a terribly circuitous plan. Just go do internships or get an MFin to give yourself more time. Stick with finance if that’s what you know you want to do. My whole family is in military, diplomacy, defense etc. and trust me you do not want to work for the government.
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