Hello IB Community,
I am currently working as a consultant in Atlanta, Georgia and looking to go back to my roots which would have lead me to Investment Banking if I was ready to go down the path when I was in college. I have been in the management consulting arena which has offered me the opportunity to get knee deep in agricultural industry and see the inner workings of a dynamic international company--an experience that I know will serve me well for this future endeavor, which brings me to my main point...
I feel that I have missed out on building myself as an analyst in Investment Banking and truly need to catch up; however, I am trying to get sound advice for what I need to do to make this bold switch. At the expense of sounding elementary (to receive objective feedback), I would like to ask simply:
What do I have to learn?
What news should I be looking at on a daily basis to stay informed?
What are the best companies/shops that would take on a resource who is almost three years out of undergraduate school to instill the necessary IB foundation?
I am looking to go back to school for an MBA and want to make sure that I am on the right path so that I can graduate feeling comfortable that I have built a strong foundation where my long-term interests lie.
Thank you so much for your help. I truly appreciate your answer in advance and for you taking the time to reply to this forum topic.
WS Whiz
If you're going for an MBA, coming out of it should be fine. Just springboard into being an associate. I don't think you want to be an analyst after doing 3 years of consulting
Well, I have not been in the Consulting industry for 3 years (just for 1 year since I worked as a business analyst after graduation) so that is why I would even consider starting from the bottom to build a solid foundation. By putting in the time now on the front-end, I am hoping that I will be able to make the comfortable jump into the associate level after the MBA since I would have already "paid my dues".
I'm in the same situation as the OP. I have been a management consultant for 2.5 years and currently, I have the options of doing a top-tiered MSF (non-quant) in California or going straight for an MBA (which is ranked in the 20ish by BW) in Minnesota with very generous scholarships. Because I come from a developing country, I currently have no industry connections or so. What should I do to break into investment banking/corporate finance? @OP: Sorry for the free ride. The point that you raised is just spot-on
Do your MBA and network the shit out of investment banks for a summer internships.
If all goes well you should have an offer for when you graduate.
With the MSF, you get two chances. If you do your MBA now, and would like to transition into something else, then it's going to be damn hard. If you do the MSF you'll also have the chance to go to a better MBA school.
This is not correct. One of the main reasons for going to business school is the opportunity to transition into something else. It will not be "damn hard" to get into banking out of business school - banking draws 90% of its associates from candidates that did something else before business school - if only because 90% of analysts would not EVER want to go back into banking for another 3 junior years as associates. If you're at a good consulting firm and can leverage that into a top 15 business program, the opportunities to get into banking as an associate are there for you.
Source: out of the 4 B-school interns in my BB group, 2 were from consulting and the others were from real estate and law...and they were from target b-schools, but not top 5 programs.
Laudrup means if he does the less-than-name-brand MBA now and fails to get the banking role he wants, going back for an MSF won't help with any rebranding. If he did the top MSF first, he has a solid chance at banking where if he fails, his previous WE + the top MSF = better chances at M7 for MBA, giving him yet another, even improved shot at IBD.
As far as what you should be reading/how to brush up skills, I would say pick up a technical guide just to get familiar with some of the jargon/questions you're likely to receive in interviews, and read M&I every day because it gives a great "big picture" look at the industry from all levels junior through senior. Try to establish networking contacts and conduct informational interviews when possible. Once you "break in" you find yourself thinking "the hardest part was just getting in" the work isn't rocket surgery, though it has its complexities at times, it's just being able to put up with the lifestyle, realizing you're paying dues and that a lot of your hours of work will end up getting killed because the MD/VP/Associate doesn't like the story that your chart is telling, or the comp set can't give you a favorable look. Whatever the case might be, just don't get too emotionally invested in your work, I think that's a key. Look at everything like it's a critical deliverable, but detach yourself from the result. Otherwise you will get super bitter. Other than that just read everything you can get your hands on related to the industry... WSJ is a good place to start... I also like dealbook...
This is great advice and some of what I was looking for. Any other feedback, insightful posters?
MBA –> associate as everyone said. Assuming you want to stay in the the southeast, schools to target are: 1. Duke 2. Virginia 3. Emory
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