Moving from tech to IBD

techtoIBD's picture
Rank: Senior Chimp | 21

I'm currently working as a Strategy and Operations analyst at a technology firm (market cap > 50bn) and want to move into investment banking (preferably a coverage team like TMT). I've been there almost a year now.

During my year at work ......

~ I applied for a UK Masters degree but was rejected as they typically want a 1st class (I have a 2:1 from a top target in a quantitative discipline). Places like LSE take people with a 2:1 for the MSc Finance programme but I did not get an offer for this programme.

~ I did not land any interviews for off-cycle internships or full-time analyst positions for IBD. When I spoke to recruiters/alumni, the feedback given was because I was competing with people with recent finance experience (I interned at an M&A boutique but a few years ago as part of a university exchange). I also tried adjusting my CV saying I would do a Masters starting this September, and therefore eligible for summer internships, but that didn't help.

~ I tried reaching out to the corporate development/other teams at my current firm but they want bankers/consultants and people with MBA's. My firm won't help fund an MBA for now/I'm also ineligible at the moment as I'm too young.

~ I reached out to headhunters/F500 companies for the corporate development roles. The problem is that they keep referring me to Data Scientist roles, Operations Analyst, Business Development or Sales roles because of my previous experience - none of which interest me. I tried consultancies (not just MBB) but had no luck there either.

~ I cold called tonnes of boutiques during lunch hours/after work but either they are not hiring, want people with recent finance experience or refer me to the larger firms for graduate programmes.

What can I do to reposition myself for banking recruiting? Please feel free to ask any questions and I will reply in as much detail as possible.

Comments (19)

Apr 24, 2014

Sorry but did I post this in the wrong section of the forum?

Apr 24, 2014

This is the correct place for it, but you might try the IB forum - tends to be more traffic in there.

Apr 25, 2014

Thank you for your help.

Apr 26, 2014


Apr 29, 2014

But then I can't be an investment banking analyst and therefore lateral into a HF/PE right?

Apr 29, 2014

You could theoretically go right into PE/HF without IB. I did just that (I only have a bachelor's w/o IB experience. I was more on the front office tech side - building the computer systems for analysis).

If I was you, I would apply to a top ~15 MBA, and try to land a summer internship into the field you want. Easier said than done, and risky. Other avenues after MBA could be management consulting.

That's the whole point of an MBA for somebody stuck in a position he or she does not want to do, with a few years of experience, that wants to do a lateral or potentiality higher move into a different direction. PM me if you have any questions.

Apr 30, 2014

I sent you a message

Apr 30, 2014

What makes you want to leave your current gig? I would imagine that pay, perks, and especially work/life balance are pretty nice. Is it the work itself? What do you do on a daily basis? Is this work somehow transferable to IB?

Just pm'd you some contact details.

Apr 30, 2014

Could you pm me some contact details also, I just received a ft offer (M&A) and need some advice, thanks

Apr 30, 2014

Great question.

You are correct that it's the work itself. When I was on the 'honeymoon period' everything was excellent but as I got my teeth stuck into the role I realised it just was not for me.

The job is not technical/challenging/interesting enough. I have no problem doing PowerPoints or Excel models though - I just need more.

The work is somewhat transferable (Excel models are operational vs financial though) and PowerPoints are PowerPoints haha - so I moulded my CV as much as possible to IBD work. As an analyst I should be useful in a TMT team I would imagine after some training with the finance/accounting parts.

I found other roles in the tech company that I would love but they want banking or consulting experience for at least 2 years. I see why - they literally demand magic and you have to produce it no matter what. You need a solid grounding of experience to survive at these firms and I realise that more now then I did coming out of university.

Thanks for the PM. Will reach out ASAP.

Apr 30, 2014

I was unable to dig up my exact job description but I found something very close:

* Working closely with our Sales and Customer Success operations tools - Taking responsibility of updating and improving forecasting and scorecard operations methodologies using in Microsoft Excel, the reporting tools with past, present and future weekly, monthly, quarterly and annual data.
* Maintaining and improving Sales and Customer Success Performance Metrics - Construction of a weekly performance pack by aggregating and evaluating key metrics to drive insight and best practices within the entire EMEA organisation.
* Building Reports trough SAP Business Objects - Creation of different types of ad hoc reports to meet different requests from other people inside the team.
* Working on various Power Point Slides - Creation, updating and population of different slides matching various requests for senior management reviews.
* Drive best practices and reporting of pipeline generation across EMEA - Working closely within the team to produce Pipeline generation reports based on data from SAP Business Objects.
* Population of charts within the (tech companies) platform to drive insight - Producing high level overviews for insight at a glance.
* Visualisation of core Sales Analytics
* Responding to various other high level requests that came up daily.

Apr 30, 2014

Hey awk1127, I'm here because nobody responded to this thread after a few days...maybe one of these resources will help you:

  • From BO to FO and back again, or, how I learned to stop worrying and love technology in investment banking. I went from never having heard of investment banking as a profession, to ... I was a VP of technology at a top US investment bank, making good if not spectacular money (think ... bank) for my MBA, and started pounding the pavement trying to get into investment banking.
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Calling relevant professionals! @TZgoennerei @Gkim

If those topics were completely useless, don't blame me, blame my programmers...

Apr 30, 2014

I don't know

Apr 30, 2014

Nothing is more relevant to finance than finance, plus it'll be easier to get a higher GPA majoring in finance. Majoring CS because it's "safe" doesn't make too much sense here granted how dead set on IB you claim to be. IB gets harder and harder to break in to the older you get. Foregoing recruiting now to get an MSF will not help you but rather hurt you.

Apr 30, 2014

I believe what it initially comes down to is GPA, and depending on the role, the major as well.

I have worked with a lot of graduates from UoV during my time at a blue-chip tech corporation. I know most of them did 2 years then went onto their MBA after.

Do you like CS/Engineering?

Apr 30, 2014