Started in M&A this month; 30 Years old. No prior experience. Non-target school.
New user here. Learned a lot from you guys, so thank you all for being a vibrant community.
A bit about myself:
I had no plans whatsoever with regards to my future career etc. Ended up wasting time partying and being careless.
Bounced around between non-target universities in the U.S.
Took some time off to start a business that eventually failed.
Recovery phase:
Completed my B.A. in Economics at a uni in China in 3 years.
A month after graduating I started an M.B.A. at a top 5 uni in Asia.
Now I'm 30 years old, and just started my first "real job" at an investment bank in Asia in the M&A group.
A bit about the firm:
One of the largest investment banks in Asia (probably the largest in it's local market).
Slow deal-flow. 1 MD. 8 other analysts. MD and about half of the analysts come from GS, MS, and JPM; MD has more than 12 years exp. at one of those firms, while most of the analysts had around 4-7 years of experience.
**My Situation:
**
After the MBA I was able to land this job by networking. No other method worked.
It's been almost 3 weeks and I was asked to do a single task only: use capital iq to find comps and put them together on an excel sheet along with their market cap, LTM revenue, LTM EBITDA and EBIT margins, revenue per sector, and so on. Still no feedback from the analyst that requested it. I also don't have dedicated access to capital iq or any other platform/terminal so far, so spending most of my time reading news, reviewing the M&A manual, going through the CFA SchweserNotes whenever I feel that I need to review something, and so on.
I don't speak their local language, so I know for sure that I won't be involved in most of their discussions, although they all speak English fluently.
My original plan was to get some decent IB experience, and then lateral to U.S., HK, London, Dubai, London, etc. Met a cool guy from the same company, but at global trading, and he called a few guys from IB at a few BBs in town, and they were surprised that I was even able to land this job because of my age (and no prior experience).
What are my options? How's my age going to affect my career?
P.S. I really need the opinion of experienced bankers; bankers that preferably made hiring decisions.
Slight bump... Please help guys.. :(
Bumping as well. Can someone with M&A experience comment on this? Really unique situation that I have not seen before. Best of luck & congrats!
Thanks Basil!
bump
Have you been proactive in following up and asking for more responsibilities? Sometimes deal flow is slow and a lull in your schedule is expected, but 3 weeks for a task that should take a few hours max?
Your main job is to make sure you're not making mistakes on the easy stuff, and hopefully the analysts/MD acknowledges that you're capable of taking on more responsibility. From there, its on you to demonstrate that you want more work and are willing to put in the effort.
Regarding your age, you probably are too old to lateral as an analyst to most of the countries you listed above. However, you shouldn't be thinking about lateralling before you get a few deals under your belt because you will have nothing to talk about even if you got an interview.
Yes, I tried to ask politely if there's anything I can help them do etc. Talked to a couple of analysts over lunch today, and they said they had a similar issue and were asked to "wait".
If you may, would you elaborate more in regards to your comment about age? What if my situation improves and I end up getting a decent 1-2 years experience, what options do I have?
Don't worry about it too much if its an issue across the analyst class, given that you're being proactive and looking for ways to contribute where possible.
Regarding the age, its more of a perception issue than anything else. In the eyes of a recruiter, the following would stick out:
I'm probably missing a few, but these are definitely the top considerations. At the end of the day, the job of an analyst is to do the menial work that no one else wants to do. There is nothing wrong with a 30 year old analyst on a standalone basis, but investment banks want someone who they can churn without much push-back/burning out, and fresh grads fill that criteria a lot better. Hope this helps.
Let me ask you a question. Did they take your picture? If so, is it available on their website and/or do they use it frequently?
They did for the ID. But they have photos of other foreigners on their website! I'm sure they didn't hire me to show off that they have foreign expertise etc. I hope I got your point correctly.
How do you expect to get good experience at a chinese IB if you don't speak their language? Are you sure they are not just using you for minimum pay?
I wish it is a Chinese IB!! I speak Mandarin; not fluently, but enough to socialize and talk about random stuff. I'm not getting minimum pay, and yes I'm sure!
You are in Japan, aren't you?
Out of respect to the bank, my team, and the career risk that I may endure, I apologize for not being able to release that info at this time. But please feel free to let us know if you have any comments in regards to age (30+) and lack of experience, etc. Thanks!
What are you aiming at now? Where do you want to be in 5 years? You named those locations, do you also have IB roles in mind, or something different?
That answer might help evaluating your options.
I can't give you a definite answer because I'm still learning about the industry, however, I believe that I want to either stay in IB or move to a PE / HF . My aim for 2020 is to move to another bank that does business in English, and has a better reputation / brand name.
Dude, sounds like you spent an aweful lot of time doing unrelevant stuff. You got your MBA at 24? 25? Could you share your story about how you spent the five years before M&A?
Honestly I don't think 30 is that old. Many people with no prior banking experience would need to finish MBA at age 27 to 29 and then start as associates at banks. You are just one or two years older than them, I don't think that's a big deal. I guess the bigger problem is language, and perhaps you're not the social kind of people? That affects things too.
As an Asian banker myself, I have to say what you encounter is very common in Asia. I, myself being a quite western living style kind of person, have always felt very lonely in Asia. People in China, Japan and even Singapore barely party or social. People only social in small groups and are not always open minded about making new friends to hang out. It's nothing like what you would experience in US or UK.
I feel you brother.
Please check my reply below; sorry for that.
I started my B.A. in 2013 and graduated in 2016 (finished the degree in 3 years rather than 4 because I transferred some credits over from the U.S.). I did the MBA as soon as I graduated, so from August 2016 until March 2018. So I got the MBA this year, and I'm 30.
The question is what did I do between highschool and 2013. Dropping out of college or getting kicked out for not attending classes, changing majors, taking years off to start a business that eventually failed, etc. I never really cared about school and career until 2013. The MBA was my way of covering up my academic fuckup. I never had any job either; just a few internships.
Indeed, Asia is a little different; standards of socializing are different. Even though I did the MBA, I was not offered an associate position.
Well man, it's definitely awful to waste that much time during your early twenties. But I'm glad things are picking up for you now. Speaking for myself, I would never think of someone like you as outsiders from my circle. I love making friends with people of various backgrounds. I'd say your unique experience has made you who you are and that's something valuable. Unfortunately most people in Asia don't think like that.
I'm only 26 with 2.5 years' of career track, so I might not be in a place to give you any career advice. But in terms of making a life in Asia, I can say for sure that you shouldn't diminish yourself or soaking into the idea that you are older and less successful. Try to blend in, and show confidence. Learn the language if you could and invite local people to your own circle.
From what I heard, non-Asians get a job in a non-English-speaking Asian country is extremely hard. So you mush have some really outstanding stuff on your resume.
You're biggest obstacle is being post MBA and not an associate. That's not a good look should you lose your job. Recruiters and interviewers will have a field day attacking that weakness.
I would worry less about exit ops and more about getting to the level you should be at. Good luck.
Thanks for the feedback!
Corporis autem est maxime. Possimus porro corporis ipsum inventore aut minima.
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...
Rerum optio quidem cum corporis ea temporibus. Distinctio tempora hic mollitia eum dolorum qui. Hic culpa harum temporibus libero reprehenderit occaecati fugit et.
Aut et reprehenderit repudiandae et in deleniti dignissimos necessitatibus. Architecto quo dolor est ut ut quae. Vel recusandae hic facilis ut. Est nostrum velit deleniti.
Ducimus quia consectetur ullam quos at ad. Sit dignissimos et eum odit ab. Quaerat voluptatum reprehenderit est quo esse sequi magni est.