Non-traditional route into investment banking: what are the chances?
I was wondering if anyone would be willing to share their thoughts on breaking into investment banking via a non-traditional route. Any thoughts or advice would be greatly appreciated. Thank you so much.
Non-Traditional Student to IB (Originally Posted: 12/19/2012)
Hey this is my first post although I've been utilizing the forums here for some time.
For a long time I've wanted to have a career in high finance but unfortunately due to some family/financial circumstances I'm currently attending a community college. I'm hoping to transfer to a semi-target (UVA McIntire) as a junior and then somehow make my way into IB at a BB. As of right now I don't have finance experience but I have a 2200+ SAT and I spent over a year working as the director for a small student run nonprofit while I was in high school. I was hoping to get some advice on what I should do to position myself to break in and also whether or not people with situations like mine are even looked at given the fact that they did a stint at CC? Also, what kind of internships can I get while I'm in CC that I could use to leverage myself into a SA position after my junior year?
Thanks.
I think Goldman offers something called a "Community Bridge" program, which is targeted at CC students.
I looked that up and it says on their site that it's for their technology group, does that mean their back office or is it an IB group working specifically with technology?
What division are you interested in? Idk what your GPA or personality are like, but I'd think you'd have a decent shot in S&T.
4.0 as of now, I've always thought S&T was oriented more towards advanced engineering types? M&A seems most appealing to me but I'm sure everyone says that
S&T is more geared towards poker-playing party animals. Or just anyone good at math and taking risks.
I'm also hoping to transfer to a semi target/target from a CC. I'm a year behind but if you find any valuable information like the GS program, please let me know as well. I would appreciate it very much.
Tons of banking analysts at BB (GS, MS, JPM, BAML, CS, C) and elite boutiques (Lazard, evercore) transferred from community colleges to target and semi target schools. Impossible is nothing my friends.
Thanks for the encouragement Bluedevils. I'm applying as a transfer to a target program next term, hopefully I can join that group as well.
non-traditional IB candidate (Originally Posted: 08/19/2010)
I graduated in 2007 from a target school. I had a child right out of undergrad, so I only did a handful of first-round banking interviews (OCR) before I stopped interviewing completely.
I do not have internship experience, nor have I had a job since graduation.
I am trying to get in the game, and I'd like to hear what people think.
Thanks!
Are you hot?
Regards
lol
What have you done since 2007?
Girl, you shouldn't even be thinking of going into IB as an analyst when you have a kid. C'mon...
he he nice comments
If you've got a toddler IB is not the place to be. Anyway, and you've not got much chance right now as banks will, at best, put you on the 'mummy' development path if not outright refuse to employ you.
Best path would be to get into a commercial bank. They've generally got far better work / life balance and are more accommodating of people with parenting responsibilities. Once the kid is in school and you've got a bit of experience under your belt then look to move to a mid tier boutique and then try and progress from there.
agree with wage slave
made a non-traditional path into IB, but..... (Originally Posted: 05/08/2012)
This question is mainly for IB analysts who have gone through PE recruiting or anybody currently working in PE. I recently landed a FT analyst position in IB coming from a non-traditional path as in graduating from a non-target after serving in the military. How do PE firms view candidates that are not the "cookie cutter" 23-24 year old who completed 2 years of banking after graduating from a target school? More importantly, are SAT scores still a factor? I haven't taken the SATs, but I have a 3.9 GPA
SAT doesn't matter much. It helps in college but for you I don't believe they will help. GMAT might help though.
How did you get into school without the SAT? Did you take the ACT or any other kind of standardized test?
Was it a community college?
ironically...some PE firms still look at your SAT score
Transferred to a state university after 2 semesters of community college, no ACT either
Curious as well, similar background as the OP
Non-traditional undergrad breaking into ibanking (Originally Posted: 07/24/2009)
.
I was pretty much in your position a few years ago (complete non-profit for front office, Target for back office), solid GPA, and a big interest in banking. I worked really hard, landed an S&T internship and then a boutique IB internship, gained some solid skills and transaction experience over that summer and fall semester (yes, I went to school FT and interned pretty much full time - as a lot of people do - as bankers don't care about your homework on a Saturday or Tuesday, for that matter), networked with as many people that I could, worked on prsenting my resume in the best possible light, and went for it. It is definitely possible, but not if you spend all of your time worrying about other possibilities.
You have to ask yourself how much is it worth and, as a junior, are you sure you can, and want to, just up and move to a Target school, take on the debt, and retake courses. Next, becoming a lawyer is by no means a guarantee to break into banking after a few years - plus, attaining a 170+ LSAT and/or getting into Top law schools is not a terribly easy feat. I'm not sure to what kind of hustling you are referring, but I think networking, applying, and searching for any internships in IB is a great start. Work that network, join the clubs, attend the events, and meet executives - IB or not, they may be able to put you in touch with someone closer to what you want. It's definitely tough to break in from a non-target, especially a target solely for back office as that is where every company wants to initially put you, but it can absolutely be done. If you need any further clarification, or have any other questions, feel free to shoot me an email or a PM. Good luck.
IBanker www.BankonBanking.com [email protected] Articles, News, Advice and More Break Into Investment Banking
Have you considered big 4 ----> IB ?
Baruch College?
If so, do big 4 ---> IB or
Network your ass off, do some unpaid front office internships and youll have a good chance for F/O offer.
I know several kids from Baruch that have gone that route and are now in top full time front office spots.
absolutely no sense to go the law school route or take on tons of debt from NYU...
Banking from non-traditional background (Originally Posted: 12/25/2010)
I have been interested in banking for sometime now but given my life sciences/pharmacy background, I have had no luck whatsoever. I am trying to get some feedback on what I can do to break into banking. I have no experience in banking but have worked in a pharmacoeconomics paper with a professor and thats about it. Thank you for your advice.
There are hundreds of threads that give general comments and tips for breaking into banking from a non-traditional background. Just do a search for those.
If you want more specific help based on your background / how to spin things in interviews, then post your resume (on razume.com) and link it here so we can see exactly where you stand.
Late Bloomer (Originally Posted: 05/02/2011)
I am starting later in life than most undergrad students - 27, I am currently accepted to Northwestern's School of Continuing studies. I actually have a few questions. 1) First off is pursuing the adult program a disadvantage internship-wise? (we have the same access as traditional undergrads to recruiting sessions and the same curriculum but i am sure if it will look iffy)
2) Assuming the opportunities are comparable how does NU rank as far as IB banking recruiting is concerned. Would I be better served by getting great grades one year then moving east?
Thank you in advance for you help.
I actually know a non-traditional student who got a BB FT offer, so don't worry about that. And to address your concerns: a) no, attending info sessions and such does not look iffy, you have the right to the very same resources as everyone else
b) it is illegal for companies to discriminate based on your age, so no bank would take that risk
c) and as i have noticed from my friend's experience: don't put your age out there, meaning don't make up excuses for why you haven't gone to college earlier and such.
d) i'm sure you have pursued some great things between high school and now, since you had been accepted into a rigorous and selective school. use these experiences to your advantage! i'm convinced you'd be able to tell a way more exciting story during an interview than a 20 year old who hasn't seen anything past his back yard.
e) NU is not a target of the same caliber as harvard, but they do have quite a decent placement. yes, fewer banks might come on campus, and maybe opportunities won't be falling on your lap. but a little determination will take you far since NU has a good recognizable brand
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