What should I do? Looking for advice
Hi All,
I have a question regarding my future. I don't know what should I pursue and focus on to get where I want to be, so thought I'd ask around here and hope for some advice.
Namely, I graduated from an eastern European shitty bachelor's program with quite bad grades and got a back office analyst position in another eastern European country in a top BB. I worked there for less than a year and finally networked into a boutique front office internship (M&A) in a very developed European country (think France/Germany). This (kind of no-name I would say) boutique does deals in a certain niche and they had over 3b euro deals closed last year ranging from 40m to 150m eur in size on average.
Now, my question is, as I want to one day end up in London or NYC in a BB or elite boutique, will not having a MSc from a top school hinder my chances? Would I be able to lateral from a no-name boutique with just my bachelor's? Should I gun for a FT offer from this boutique or try to get into a top MSc program like LSE? I know an MBA is also an option, but I seriously doubt my chances of getting into one considering my bad grades in undergrad and no prestige over that school's name, which is another reason I'm thinking about going for a top MSc (or a cheap but good one like Nova SBE).
I wouldn't mind taking a hit in "seniority", as in, after two years in this boutique come in as a first year analyst, as long as it's a top BB or EB.
tl;dr
Should I get a Master's degree or keep working with my bachelor's and try to lateral without going back to school?
Would not go for MBA - not appreciated as much in IB.
MSc at top university would be your best option imo.
In the end most FT offers are given to people that perform well in internships. Grades etc dont matter much in the conversion to FT offer. Think your options are: - FT M&A/IB role BB in Eastern Europe - switch to W-Eur after 1 or 2 years - FT Western European M&A/IB role at BNP and the likes and after 1 - 2 years switch to London BB (although most W-Eur banks require MSc I believe) - Boutique in London with solid reputation and switch after 3 years (you will start as analyst again, but get promoted after 1 year or so)
So basically, you think getting a MSc is a recommended way? I suppose not having one would hinder my career in the long run.
Regarding the BNP path, do you think I would have a shot in getting there without a MSc and with 1 or 2 years of experience at this boutique?
Most W-Eur countries expect a MsC, UK one of the few exceptions.
Can't speak for London, I'm assuming the other poster is. But for the US, an MBA is absolutely appreciated. If you did an MBA at a top program you would be a shoe in for an associate position at any bank in NYC. You just have to get into a MBA business schools">M7 program - which is obviously very challenging.
Thanks for the reply. I would love to get an MBA, however, I don't think I stand a chance for MBA business schools">M7 programs with my current undergrad GPA and school brand, which is one of the reasons I thought it would be beneficial to get a top Master's and work on my grades - just to look better on applications.
Don't go down the MBA route - the poster above is correct about doing MSc. I'll do a longer post below
You have few options in front of you in my opinion. All have different costs and may allow you to join a BB in different time frames. This will cost roughly ~30k + missed earnings. - Do a Masters of Finance at any targeted school in Continental Europe or in the UK - to get in these you'll probably have to get a solid GMAT to make up for your weak grades. From a Masters you can recruit for Summer Internships, convert it and join as a full-time analyst. - As you seem to be keen on IB in the long run, your boutique may be a no-name shop but closes deals - if you guys closed 3bn of deals in a year at a 150m on average it means that your shop closed at least 20 deals. To me that is not a no name shop. My guess is that you should stay there for a year, get some good deals under your belt and start moving upstream, Look at solid MMs - ie Lincoln International, Baird, Big4 M&A maybe even RBC, Jefferies on the upper scale of things. You may have to join in as an analyst 1/2 so may set you back a bit but your pay should increase and you'll get a good name on your CV. From such a shop you should be able to move to EBs/BBs after 2/3 years again being probably set back by 1 year compared to your current level but that is the trade-off for such a brand. This will take ~5 years, yet this alternative isn't costly - no cost for a masters + no loss of earnings.
Thanks so much for the detailed advice! Do you mind if I PM you?
go ahead :)
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