Thought Experiment

1st Year Analyst in Investment Banking - Industry/Coverage

A friend (a legitimate friend haha, not a "friend") is making a career switch from middle office to his/her goal of investment banking and beyond. He/she is contemplating either 1) interning for 6 months and then going to a M.S. program at Columbia/Vanderbilt/MIT to recruit full time or 2) take an immediate start as a corporate development M&A analyst at a Fortune 500-1000 financial services holding company with the goal of transitioning into IB and beyond a few years down the road.

Are there any thoughts either way as to which he/she should pick?

Comments (3)

Most Helpful
Sep 11, 2019

I'd personally gravitate towards the latter. Assuming it's an acquisitive team where they'll get good experience, it can be spun to get into a FIG coverage team or M&A more broadly. If they aren't getting traction at that point, they can always switch jobs or go down the well-trodden MBA path.

Pulling on the (non-MBA) masters cord can be tricky. They would still need to find a good internship and actually get into the program, and then navigate an already hyper competitive full-time recruiting process (assuming it's a 1 year masters so no summer internship time). In that scenario, I'd rather position myself for a good MBA program

  • 1st Year Analyst in Investment Banking - Industry/Coverage
Sep 11, 2019

Would it change your opinion if the internship was with a health/tech IB and acceptance was already given to all three? Would you feel confident going into fall recruiting with 6 months of experience and one of those names on your resume?

Sep 11, 2019
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