Hi (non-fellow) IB'ers.
Apologies if this has already been addressed on WSO, I couldn't find any thread from the past though.
I was hoping to get some insight on whether there are any (recommended) recruiters in the IB industry that look to hire potential employees who are not straight out of college.
For the past two years, I've worked at a financial information services company
My two questions are:
1) What recruiting firms do you recommend (if any) that work with candidates of a background like myself. While out of college I did not know what specifically I wanted to do, I have a sound argument for why IB is for me (hence the potential transition)
2) Do investment banks, either the BBs or major Boutiques, take into account the fact that my previous experience is a great value add for an analyst position, effectively allowing myself to enter IB as a senior analyst (i.e. possibly working less than the standard 2 years before being promoted)? Of course I would need to be successful in my role and prove myself.
Any insight would be helpful, thanks.
Interested as well
EB/BB is unlikely. Best bet is to go to MM/boutique route, as they're generally more open to "non-traditional" candidates. You'll have to start out as an Analyst 1 regardless of where you go. Even the guys that switch groups within banks (S&T -> IB or ECM/DCM -> Coverage) usually have to repeat a year.
Agree with this mostly. One caveat is I've seen some experienced hires start in say, January, as a first year and then have the opportunity to be promoted to a second year come June if they prove themselves.
Nuclear, was this at a boutique or BB? Also - thank you both for your insight.
Does anyone have insight on recruiters? While I have connections at BBs, I have less-so at MM and boutiques. Further - even with their recommendations, their tenor of 2 years - and in some cases shitty HR departments (SG) have lead to dead ends.
Take it from me- a recruiter from a recruiting firm such as Michael Page will not step out of boundary to help you pivot your career towards IB. Even though your skill set is valuable they will only submit current investment bankers, and possibly someone from TAS/ management consulting to any IB roles they are working on. They will look at your resume and align you to jobs that closest fit your work experience. They do not care about you enough to help you get in front of bankers, they need to make money off of you as quickly as possible- I would avoid if you want to pivot to IB. Reach out to firms directly with cover letters and speak to alumni, your background may allow you to make a push for a DCM/ Leveraged Capital Markets role.
This. Also Selby Jennings apparently has a lot of IB contracts but I would seriously recommend reaching out on your own, networking, and applying. Some guys I know pivoted from a resume drop on Indeed, Linkedin, or company website.
Selby Jennings is a bunch of huckster recruiters, don't recommend them. They're literal idiots.
Selby Jennings isn't bad. You can also look around for one-off recruiters that land IB roles. I found it was easier to persuade them of my applicable skill set to IB. Networking on your own will be much stronger - in my experience.
You need to make sure you're ready for the interviews and be prepared to be rejected anytime someone with any sort of banking experience is in the running with you.
A good deal of the time THIS IS THE CASE. However, there are exceptions, just like with anything. DO NOT shut the door to any connections that come your way, no matter how useless. YOU NEVER KNOW.
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