Starting at FLDP of a non-finance related industry. Chances to enter IB?
Hi,
I am a recent graduate of semi-target (business&stat double major). I have been working VERY hard to enter IB, but it didn't really work out. It is painful, but I have learned to open up to alternative options that could be a stepping stone to IB.
I have recently been getting some interviews for those "financial leadership program" that goes for 2 or 3 years. The companies are not necessarily in the financial/investment industry. But if this program would eventually build a good foundation for me to enter into IB, I am more than happy to grasp this opportunity. I am definitely going to study for CFA and pass at least lv1 within one year. (Hopefully lv2 by the time I finish the program)
So my questions are:
1)Would this be a good starting point for my interest(IB)?
2) If so, how long does it take to take the real step off the stepping stone and enter IB? Can I make the move as soon as the program ends?
3) If not, will I HAVE to get the MBA degree?
4) Any other general advice for my situation?
Thanks!!
It is extremely rare to make the jump from an FLDP straight into IB. You will most likely need to get an MBA. There are exceptions, but planning on being the exception isn't a good idea. Now to answer your questions...
1) Yes, after you get your MBA your experience will be helpful. 2) 4 years + a top MBA (or top regional MBA if you don't have to work in NYC) 3) Likely 4) You could potentially try applying for a top Masters in Finance/Masters in Commerce (UVA) this fall for next fall. Most of these programs want less than a year of experience. A lot of them don't want business majors, but some are okay with it. You have to go to a top program, though. That would be something like Princeton, UVA, Tulane (I believe they're decent for energy), BC (maybe?). @"TNA" might have some better info on this.
Thanks a lot for your thoughtful insights. I really appreciate it and it really means a lot to me.
The position of my interest offers these "exposure to key finance areas thorough rotational opportunities within the organizations of: accounting / controllers, business finance, corporate finance, investor relations, internal audit, treasury / tax, and planning / forecasting." IF I do get the opportunity to choose the rotation, where should I focus within these listed areas, so I can build some foundation to get into investment?
Thanks,
Into investing or investment banking? For investing you'd probably want to do treasury. For IB, you'd want to do corporate development. But it's still very doubtful either of those will help you make the jump without an MBA. Really what you want to do is have the best possible experience you can and try and position yourself for the best possible MBA.
Thanks a lot for the insight. My ULTIMATE goal is to run my own fund. I think I am more interested in the investment itself than M&A. That is why I want to get CFA. But as of now, I don't think Business+Stat prepared me well enough to jump in there just yet. Can CFA supplement the MBA degree? Would there be any other ways I can get into investment(fund, portfolio, investing..etc) from FLDP without MBA?
Not really, MAYBE (that's a huge maybe, with a lot of luck involved) you can network your way in. But that will be tough. You'll want to start now. And if investing is your ultimate interest, try and get in everything investment related you can. That is, Treasury, Investor Relations, if they have an investment-specific accounting arm get in on that too.
An MBA is a particularly good idea if you want to start your own fund, though. The network you get will be important, as will the brand name to add some validity to your firm. Keep in mind that you don't just start an investment firm. For most people it takes 20 years or more of strong performance to even be able to consider it. You're aiming high, which is good, just know what you're up against. Your chances are probably about the same for starting an investment firm 20 years from now as they would be to get into IB today.
To break down the steps you need to take, assuming you start in your FLDP:
1) 4 years in FLDP 2) top MBA (or top regional MBA if you're absolutely sure you know where you want to live - top MBA is always better though) 3) 10-20 years in investment/Asset Management with strong record 4) start your own firm
That's your best bet at making it work for you. It will be difficult. Every waking moment you should be doing something to better yourself/your brand. Network. Learn. Network more. Learn more. Etc.
If you want to break in now while working in FLDP, its just like trying to break in during college. Possibly even harder. Going MBA route leads to associate at IB, different from analyst. Consider if you want to career banker since the exit ops are different between analysts and associates. You still have a chance to break in while working as a lateral hire to IB analyst though but you REALLY have to put work into it.
how exactly are IB associate and analyst different in terms of exit op? I mentioned in comments above, but I am interested in joining fund managements. Let's say HF. What would be some routes I can take in my case?
One thing that doesn't come up often during this sort of thread (which is a pretty common sort, if you do a quick keyword search) is that you might end up liking your corporate finance job just fine after your rotations. Don't think too far in the future; you're not on a bad track at all, and yes, banking is an option for you if you want it.
That is a very interesting insights. I appreciate it. Yea, I would have to agree that I do think too far into the future. I just wanted to have a general plan, but focusing and enjoying on the present does come first. I should always consider this in my mind. thanks
Don't corporate/operations LDPs have better noteriety than fldps? Just curious?
Is notoriety the word you wanted to use?
And no, it just depends on what you want to do.
F50 FLDP to IB Associate? (Originally Posted: 08/25/2011)
Hey everyone,
I am an undergrad at a non-target tech school in NJ. After speaking to a bunch of people on here and through networking, I found that breaking in as an Industrial engineer would be tough.
i am a sophomore so I am actively networking but would like to know more about t he corp dev path via FLDP.
I am currently at a f50 company doing supply chain ops with a chance of getting into the FLDP upon graduation. If IB is my ultimate goal, would it be wise to enter the ldp (if no offers) and maybe get an MBA and join a firm as an associate?
I have read previous threads through and through..
Thanks for any advice in advance.
Dude, as a sophomore who knows that banking is what he wants to do, you have plenty of time to get into an analyst spot.
To answer your question, yes it's possible. By then hopefully deal flow will start picking up and you (and I) will have a better job market to work with.
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