Not cut out for IB?
Long-time reader.
So serious question, but I know I'll get a lot of flak for this. I'm starting to think maybe I don't have the drive/personality to be in IB.
I started college with no motivation or desire to do well in school. So I didn't, and my grades represented that. But then something changed. I didn't want to waste my life, so I worked harder. I improved my grades and added another year to college.
I've been trying to break into IB for the last couple of years to no avail. First through summer analyst programs and now for full time recruiting (heading to my last year). I've tried to reach out to people for networking, but it just seems like it falls flat. I'm awkward, thank them way too much, and can't treat it like a normal chat. I don't follow up because for some reason, I don't know what to say. I'm not particularly good at technicals and try to study but nothing is sticking. I blank out either because I haven't studied enough, or I'm not good at this stuff.
I want to know if perhaps the hard-working culture of IB isn't for me, and maybe I'm not working hard enough. Or maybe I don't have the personality to network constantly (as I go to a non-target).
I honestly don't know what I hope to receive as a response. If I'm striking out this often, maybe it's just not for me. I guess it's best to ask people in the business. Maybe even asking this question proves that IB isn't right for me. Maybe this is me being overly sensitive, and I need to keep grinding. Who knows
Sorry for the long post. Thanks for reading!
I don't know what answer you're looking for, as it seems most responses would probably be a bit offensive unless you take criticism well. Where are you based out of? I think the most important thing is to show interest in the topic, which may require a little extra drive. I am in Omaha, NE, and I didn't go to any target schools by any means. But, I taught myself financial modeling and feel I do a pretty damn good job at it, and I lucked out at some local firm - after a few interviews at IBs in San Fran and Chicago. I never had any interviews with top-tier banks but didn't aggressively apply to them because I know I didn't go to a target school and I didn't have top-notch grades. I did have buy-side experience and a MSc in finance, though. With all of that said, I think learning to model quite well was my saving grace for getting in. However, as an after-the-fact antidote, I think IB is overrated. I had also started a business, and being your own boss is much more rewarding and exciting than this, in my opinion.
There's a whole perception of prestige by working in IB, especially at the big firms. And quite honestly, it's the most stupid thing ever because there aren't a lot of other careers where it's a cock-measuring contest like it is in IB. So, working in IB, I also don't feel I have the drive to continue for much longer. Certain aspects of it - the modeling, meeting with clients, etc. - are fun and all for me, but the rest is just another boring day at a job.
So, what are you envisioning life is like in IB? If you really wanted to get in, make sure you're not only shooting for the giants and that you are applying yourself for relevance.
Thanks for the response man. I appreciate it, especially since my post really had no direction. Not even sure what response I'm looking for either. Maybe I'm just venting out my frustrations.
I'm based out of Texas. About to finish my last year of school. I just feel really like scatterbrain right now. I don't know where to start. I've been networking and trying to study technicals, but with work and personal obligations I'm not 100% with anything. That's why maybe IB isn't right for me? My time management skills suck. Hopefully, they improve but who knows.
I know IB is a lot of random grunt work (especially as an analyst), but I feel like it's the best place for more opportunities either in PE/corp dev. Obviously, the money is attractive, but it's not the main reason why I want to do it.
Don't tell the interviewers that!
Yes, I would agree that IB is great for PE/corp dev roles in the future.
I'm not sure which city you are in, but i would guess you have some good opportunities at big and small places there. As with what you said earlier, ALWAYS send a follow-up letter, no matter how long it is. Thank them for their time and tell them the conversation gave you more clarity, better direction, better idea of the firm, etc. Tell them you feel you're a great candidate because a, b, and c. If you're trying to reach out to alumni or whoever on LinkedIn, ALWAYS send a customized message. Nothing more annoying than people I have never met sending me connection requests with the standard "John Doe wants to be your connection."
where did you practice financial modeling?
I had general knowledge of it from when I worked in Asset Management - that was mostly applied knowledge from school and looking up things when I didn't know. I eventually bought the premium Wall Street Prep package to see any differences, and I think that helped me a lot in terms of picking up new ideas/tricks. Since then, I've become even better by learning new tricks. Being proficient in Excel is more than half the battle.
I'm currently living in Omaha and would love if you could PM me directly to share your experience networking from here. Thanks!
If IB were literally a cock-measuring contest, I'd be at GS instead of a boutique. ;)
Sure.
Have you ever worked a job before? It'd give you some insight into whether or not you're cut out for a high intensity workplace. My freshman summer, both my brother and I took a job at a F500 doing testing work, and the hours got fairly long for a minimum wage job (50-70 including travel time). I loved being busy to that extend, and the hours don't bother me. My brother on the the other hand got crushed by it, and he quit in under three weeks.
From what I've heard from people on this site and from what I've studied, IB isn't exactly the most mentally challenging job, so as long as you're responsibly smart, you can do it. The place that really separates those who can do and those who can't is the ability to handle the workload and hours. That being said, you're going to need some hustle to get a job in IB at this point in your undergrad without having networked significantly.
Iste saepe harum aliquam tempora quos. Est temporibus sapiente est quae dignissimos. Dolorem hic nam ut illo eligendi voluptatem sunt qui. Est quia dignissimos veritatis vel. Aut vero nemo odio.
Officia nulla delectus reprehenderit. Nisi dicta voluptas et itaque provident. Iure cumque sint impedit quisquam. Illum atque dignissimos ut dignissimos repellendus velit. Vel ratione laboriosam ut aliquam explicabo corrupti. Et harum maiores voluptatem explicabo consequatur inventore qui enim.
Facilis cum ipsam eveniet molestiae voluptatibus esse autem. Quibusdam sit repellat saepe.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...