Furthermore, it's against CFA ethics to imply that you do or will have the certification prior to you having fulfilled all the requirements to do so, at which point you're allowed to say you've earned the charter anyway.

This WAS a question on the test, in case you're wondering. It's also against ethics to divulge what's on the test though, so don't do that. I'm just not a candidate anymore so I willingly choose to be a rat bastard that way.

As for the question: what are your actual plans for 5 years from now? One would think you've thought that far ahead if you're looking for a job. "I'd like to be an equities analyst in X sector, covering companies similar to Y and Z, since I do like that industry and my background has prepared me to understand what key growth drivers are, yada yada." Ideally, the job you're interviewing for leads into what you're talking about doing in 5 years.

Hope all works out.

in it 2 win it
 

Not "everyone" wants to make the transition. Some people are perfectly happy being there, some are completely unaware that better things even exist, and others are just plain unmotivated and stupid.

I really don't think they will catch on to a bs answer. Make some shit up about seeing yourself in a management role or something where you have greater responsibility/accountability, I don't really know how to answer that shit to be honest...Definitely don't bring up anything about a transition, that kind of a reality check might scare them away.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

I had the same questions once. Where do you see yourself in 2 years?

I said "I see myself in your chair, interviewing college kids who have no idea what they're into."

Predictably, I landed the job.

 
President:
I had the same questions once. Where do you see yourself in 2 years?

I said "I see myself in your chair, interviewing college kids who have no idea what they're into."

Predictably, I landed the job.

Believe me, this is a great answer, and the interviewer can't ask you any further questions. Don't sound too cocky but its a fair enough answer. You could even answer by first asking rhetorically: "Would I be right in thinking you do so and so? If this is the case, I'd like to be where you are"

etc.

Just Do It
 

You might want to consider who is interviewing you… Considering they are most likely from the operations/support side (the job you are trying to get), you might not want to make it clear that you are using the position as a vehicle to get to the front office..

 
Best Response

It helps to get a good read on the interviewer. It becomes pretty obvious half way into the interview (usually when the question presents itself) if the person interviewing you is aspiring to move out of the MO/BO. If the person seems like they are REALLY into their job, I would shy away from telling them that you want to work in the FO.

However a lot of the time I've had younger people interview me that made it obvious that they want to 'move out' of the MO/BO. With these individuals I find it ok to let them know that while you're dedicated to the position you are interviewing for, you would not rule out aspiring to move to the FO later in your career. Typically these type of people look for people with aspirations, so I like showing them that I acutally have some.

 

tell that you do not see yourself in a certain position, rather that you think that you are on the best possible path and are very satisfied at the moment; add how great MO role is and how much you can learn in (short) time, and also build very broad skillset and understanding of the industry

 

Both good advice. I def agree with not mentioning FO aspriations. I practically had an offer sewn up with a BB bank for BO but was better than nothing and I'm pretty sure it never panned out due to my CFA exam and talk of wanting to do research and analysis of companies someday.

Blue horseshoe loves Anacott Steel
 

"I'm not sure where I'll be, but hopefully by then I will have learned to use the search function when I am new to online communities that have over 200,000 members; as my generic inquiries about common interview questions and the mystery of whether or not to have a LinkedIn profile have likely been address several times before."

Self-righteous remarks aside, welcome to WSO. You'll learn a lot here.

When a plumber from Hoboken tells you he has a good feeling about a reverse iron condor spread on the Japanese Yen, you really have no choice. If you don’t do it to him, somebody else surely will. -Eddie B.
 
SureThing:

"I'm not sure where I'll be, but hopefully by then I will have learned to use the search function when I am new to online communities that have over 200,000 members; as my generic inquiries about common interview questions and the mystery of whether or not to have a LinkedIn profile have likely been address several times before."

Self-righteous remarks aside, welcome to WSO. You'll learn a lot here.

I know that. I did not see anyone who chose my answer.

 

I typically answer with something similar to what you said, or if its a role that is intended for you to do for a few years before moving to bschool, etc. you can say that.

The reason that a lot of the postings mentioned where interns have gone to work FT is because a lot of HFs will hire interns, but won't hire FT analysts out of undergrad. This is something you want to check because if you say "working at your firm" but they only recruit through certain channels you'll look like you haven't done your research.

 

Law School. Articling at a Bay Street law firm in Toronto. My extreme risk-aversion doesn't allow me to go anywhere near finance or consulting.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 
Boreed:
30 years old, having an existential panic attack.

somewhat this but older

Whats the matter? Scared of my little red fuzzy anus? Don't be shy,let me show you the way, give me your hand and I will take you to paradise
 

I'm in the same position as you, starting I-Banking next year and I'm hoping to get out of it ASAP. I did an internship over the summer and absolutely hated it. I'm hoping to switch over after one year even if it means breaking my contract.

With this in mind, I'm hoping to be placed in one of these 4 groups: 1) Private Equity 2) Leveraged Finance 3) Financial Sponsors 4) M&A

After a year, hopefully I'll switch over to a P.E. shop or maybe a REIT. I know it's hard to make such a move but hopefully my contacts will prove to be useful because I don't think I can survive I-Banking for 2 excruciating years.

 
TireKicker:
Not defending being a lifer in IB, but bankers can retire well before they're 60.

Lol, I think Investment Management people could comfortably retire just as early. The difference is they don't, because the lifestyle is good, the work is fun. People tend to stay in jobs they enjoy.

Seriously, even if you can retire at 35-40, what are you going to do with your life?

 

Look into going into a group/focus that you may want to spin off into after your IB career (however long it may be). Im headed into a real estate IB group and it works out because I've long been interested in getting involved in Real Estate later in my life, maybe at a REIT. It could be a good bridge from one industry to another.

 

And I will be on the Amalfi Coast, or perhaps the Cinque Terre, with Tino, Giulio, Pietro, Yolande, and my Vespa, which won't be much help on all those steep hillside trails. Oh, and my (by then) husband. Hopefully, Aadpepsi, you and Paolo will join us for limoncino and prosecco and prosciutto e melone some evening. We'll talk about everything but banking.

 

Yeah, let's do it Mis Ind!!

Tirekicker, you can join us too. You might need a refuge from public service.

Jimbo, I need 10 more years to kick serious ass in this biz. But hell, if you're done in 5... you can head out to the Amalfi Coast first and open up a cantina for us.

I can smell the ocean and feel the breeze already... sigh.

 

I wonder how many investment bankers make the move to politics. I know Mitt Romney (a fellow Michigander) was in Private Equity and Consulting, in fact I think he co-founded Bain Capital...

IB to Public Service makes a lot of sense, especially considering all the special interest donations you can hoard from the rolodex you acquire.

 
TireKicker:
I believe there was a thread not long ago that addressed essentially the same topic...

I anticipate a second career of public service and / or coaching Little League.

cubegc:
I wonder how many investment bankers make the move to politics. I know Mitt Romney (a fellow Michigander) was in Private Equity and Consulting, in fact I think he co-founded Bain Capital...

IB to Public Service makes a lot of sense, especially considering all the special interest donations you can hoard from the rolodex you acquire.

One of our former guys has been very involved in politics. There are usually a few rumours running around about our former colleagues heading into public service.

the great thing about this industry is that after some level of seniority you end up having the option to be semi retired if you do your own thing. that is, you can spend most of your time sitting on a beach in thailand, but pop into london/nyc for a couple of months of deal making to top up your assets.

 

I think there are plenty of upsides too....

Being able to pay your kids tuition, wherever he/she chooses to go without worrying.

Being able to get the best things for your family and yourself without worrying about expenses.

Having the luxury of thinking of retiring when you are 40...I mean how many people can even DREAM of that.

True, Bankers sacrifice a lot, but if you find a very understanding wife/husband, who is passionate about your ambitions, who understands your long term vision...its a pretty sweet life.

Check out Lakshmi Mittal's interviews on youtube...third richest man in the world, the planets biggest steel industry owner, busy as all hell, spends his time in the airplanes...he looks to be genuinely happily married, because he found the right wife...

Its just about being really positive versus focusing on all the negatives. I mean as long you are DETERMINED to have personal and family goals too, you're set...never have to worry about the financial side. And I bet you majority of worries of people stem from financial obligations and tensions, which bankers don't have to face.

 

Some groups are more open to people leaving after 2 years than others, but some are very picky about this and really want people to stay (even if all the 2nd year analysts in the group leave year after year anyways). Better to play it safe and just say you'd be excited to launch your career at firm XYZ. You can emphasize that this is because you think it's a great opportunity to learn and develop skills but I'd be careful not to make it sound like you're contemplating a switch over to PE/HF already.

They, of course, will know that odds are very good you will end up leaving anyways, but that's just how this process goes...

 

I agree with the above poster, but at the same time you don't want to send the message that you already view banking jobs as inferior, before you've started as a summer analyst.

I would just weave in the fact that your shorter term goals are to 1) work hard and get a full-time offer and 2) work hard as a FT analyst and learn everything you can.

 

Instead of naming jobs you want to be doing later, you can focus instead on learning and what you want to achieve in IB - what kind of deals you want to work on, do you want to perhaps relocate to a different country for a year after 2-3 years, or may be get to work in different parts of the bank (fixed income, equity capital markets, etc) to make your experience more whole.

cubiclecrowd.com blog.cubiclecrowd.com
 

Et molestiae aspernatur mollitia nihil excepturi sit. Rerum ea cumque accusantium a est quasi. Nihil pariatur officia nostrum. Dolores temporibus officiis architecto consequuntur. Aut eius totam sunt.

Quas est quis delectus ratione. Deserunt veniam tempore corrupti delectus. Et est expedita dignissimos est.

Aut itaque quam aut fugiat maiores. Aut ut quis eos. Est omnis magnam velit quis.

 

Ut aperiam necessitatibus ut ut nulla incidunt. Adipisci omnis corrupti eaque fugit architecto optio beatae. Dolorem reprehenderit nihil quis.

Omnis consequatur et necessitatibus nisi repellendus voluptatem. Cum vero saepe quod ea quia est. Ut praesentium est voluptates ipsam voluptas. Consectetur voluptatibus et et impedit tempora in odio aspernatur. Reiciendis id dolorem temporibus id.

In voluptatem error officia autem minima omnis autem. Itaque omnis fugiat expedita culpa nesciunt saepe ad eius. Veniam est eius ratione voluptatem harum dicta aperiam. At velit unde blanditiis molestias aliquid tempora. Veniam sed tempora deserunt inventore ratione tempora. Repellendus at voluptatem incidunt blanditiis et ducimus vitae. Aut et beatae accusamus consequatur fugit eveniet voluptatem.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”