Need Advice on MBA Route into IB

Alright so I am a science major junior at University of Alberta in Canada with a 3.9GPA. I have no financial experience as I was going for medicine, but starting last year I was interested in finance and started to take Econ and finance classes available, I really want to pursue investment banking now, but since I decided so late I have no internships for my junior summer. I have a few questions:

1) Would it be possible for me to take a 5th year of studying and try to get an internship between my 4th and 5th year? Or would banks not consider me for it since I'm not technically a junior.

2) if the first option isn't possible, I'm assuming the MBA route is my only chance, problem is I will need lots of work experience in finance to get into a top Finance MBA programs I'm looking at, what finance type work could I even get with a science degree?

Thank you, appreciate any advice on this, I know my possibilities of getting in are slim but I'm willing to try my hardest.

Region

WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (10)

  • Associate 1 in IB - Ind
Jan 22, 2021 - 9:57pm

One of the summer analysts at my bank was in between 4th and 5th year - her school had the option to do 5 years for master in accounting. But I think most banks allow you to intern as long as you are in your penultimate year. 

You don't necessarily need a finance job to get into a top MBA program. Schools value the brand name of the company or extremely unique experiences. Also good GPA GMAT stats don't hurt. 

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
  • Associate 1 in IB - Ind
Jan 23, 2021 - 12:22am

Def try to get in as an Analyst. Better and more flexible exit opps than post-MBA Associate.

Yeah I think it's possible you just have to network network network to try to get in (if you're at non-target with not that many alums). You can try to go into a Healthcare coverage group to try and use that Science degree. 

  • Summer Associate in IB - Ind
Feb 4, 2021 - 4:15pm

There are single digit investment banking summer associate jobs in all of Canada (max, 10-15) across all categories (Big 5/6, BB/international banks, boutiques, etc.) every year. The FT pool is even smaller (low single digits). It is an incredibly small pool of jobs and a ton of candidates. I would recommend staying away from the MBA -> Canadian IB route if you can avoid it. 

  • Summer Associate in IB - Ind
Feb 4, 2021 - 4:22pm
Start Discussion

Total Avg Compensation

June 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (35) $364
  • Associates (202) $234
  • 2nd Year Analyst (115) $151
  • Intern/Summer Associate (97) $145
  • 3rd+ Year Analyst (27) $145
  • 1st Year Analyst (420) $131
  • Intern/Summer Analyst (338) $82