3 Top Qualities Needed to Hustle your Way into IB
I am a senior undergrad and did my internship in Deal Advisory at a Big 4 firm. I know that it's going to be an uphill battle to try to get myself into IB so I thought I'd try to reach out to Alumni from my university (Europe/target school) on Linkedin and was able to schedule a phone call with a Managing Director at a BB in New York.
So during the call, I asked him if there was any way to "hustle" your way into IB. He suggested that one can't really achieve that with a BB (you are still going to go through the same process as everyone else) but that it would be more possible with a boutique firm. However, in order to do that...
...he stated that there are 3 qualities one has to focus on in order to hustle his way into IB:
1. Luck
He mentioned that one has to be really lucky to network himself into IB. He told me to think of investment banking as a numbers game: the more you go out there and expose yourself to people within the industry, the higher your chances of breaking into IB with the help of a connection.
2. Persistence
He stressed the importance of remaining persistent. You have to ask yourself: "Do I really want this?". You have to be aware that your chances of succeeding are pretty slim but that it shouldn't stop you from doing what it takes to break into your desired industry. Throw yourself out there. Create meaningful relationships. Connect with Alumni on Linkedin. Cold call people if you have to. Stay up-to-date with the daily news. Remain knowledgeable about the firms and industries that you are targetting. Always be prepared to be interviewed, meaning that not only should you be ready to take on behavioral interviews but also technical ones (the WSO Behavioral and Technical Interview Guides have helped me immensely). Which leads to his final point...
3. Creativity
Finally, he told me to move away from the standard "this is my cover letter, please hire me" approach. You got to differentiate yourself from the rest. You have to be really creative in the way you approach people within the industry.
What do you think he meant by the last point? How do I approach people "creatively"? Should I just aim to differentiate myself from others or should I catch their eyes with my approach to them?
I think he's getting at the fact that you need to build some sort of rapport with these people you are reaching out to. They don't need you, you are easily replaceable, and there are 1,000 other applicants waiting in line to take your spot. You have to create some sort of bond, i.e. we went to the same school, we know this person, etc, to make yourself worth their time
That is a great point. And what about when I am out there networking with people at professional/networking events? I want to differentiate myself from others but I don't really want to come out as a "trying too hard to impress" kind of person. In other words, how do I build some sort of rapport with these types of people without being too pushy with my approaches?
Well maybe if they are high up in the company, they might have a bio page, and at the bottom it might list one or two of their personal hobbies? You could casually sneak that into the conversation
Will definitely keep that in mind. Thanks!
Ha, i had a chat with a group head once that also really emphasized the luck part. There are so many equally qualified candidates out there making this a major factor.
Take this with a grain of salt from someone who broke into a boutique. If I were giving a list I would give the following:
1 - Value Add: IB at the boutique level isn't about charity, you will not get lucky. Focus on how can you make management's day to day easier so they can focus on winning clients and making money. Again, it is not about luck, but how you add value (If not in an IB function, in some support capacity). Time is in short supply at the boutique level, and successful bankers aren't interested in providing free educations. They are focused on running their business and any way you enhance how they operate is an arrow in your quiver.
2 - Amazing Attitude: You will be overworked and asked to do menial tasks to enhance office efficiency early on... All the while you will learn the business and prepare for the rare opportunity of getting a small scrap of IB work thrown your way. Put a smile on, work hard, and always ask for more responsibility.
3 - Charm: Boutique shops are run by small groups of closely knit directors. Generally, these directors are friends who have worked together in prior careers in other industries or BBs. You will need to be an enjoyable person to work with. No matter how valuable you are, if they don't like working with you or like who you are as a person... you won't last.
4 - Internal Drive (Focus on the long-term): You have got to truly want it because it is not an easy road to travel! You will be overworked, and severely underpaid... All for the opportunity of getting an education in an industry that will allow you to make money later on down the road.
Stay focused on the long-term and if you play your cards JUST right... when it comes time for the firm to get rained on with a big fat closing... someone might just hand you a bucket.
Really helpful advice, thank you!
I'm a consultant with Deal Advisory at a Big 4 (Valuation to be precise), and I don't think I'm limiting myself. In fact, people who left my team have gone to MM and boutique IBs, as well as PEs. Maybe it's different in the US.
That said, I know a guy from my school who is doing PE (straight out of college). He told me "what you know is not as important as who you know". His GPA is shit, his finance/accounting knowledge is shit (he admitted himself), but he has like 2,000 connections on LinkedIn. He doesn't add people for the sake of adding, in fact, he knows each connection personally. Hence, I believe networking is the most important part of landing an IB/PE job.
Some people are natural hustlers and always inspire me
Europe? Yeah generally big 4 CF to IB is very common in London and Europe
very interesting topic! in particular that thing about luck.... I think creativity is definitely also a thing as you need to be better than others and kind of uniqueness is a must have in order to achieve that... a lot of people always say "Well everyone who fights for their dream and doesn't give up will have success .... no matter if he/she has luck or not." I think also that luck IS an issue. but discipline is more important, thats my personal opinion. apart from that: interesting post, thank you for sharing :)!
Great point about discipline as well!
You can hustle your way into IB, I know this is well intentioned, but you’re a college senior who has had one conversation. Considering the number of folks who’ve hustled into IB gigs and the vast difference between NY and London, this isn’t great advice.
Goza's 10 step guide to breaking into IBD (100% success rate) (Originally Posted: 04/19/2017)
I saw several ivies asking for help breaking in. Thought I'd make this thread so these golden nuggets of wisdom aren't lost forever. Please read carefully.
IMPORTANT NOTE: If you are a freshman or sophomore at a target school, please look away. You are not supposed to see this until September of your Junior year at the earliest. Learning about the following knowledge before your junior year is considered "un-ivy" and may hurt your chances of breaking in. Truth be told, you're not supposed to know what IB is yet.
If this fails, don't worry. Good MM banks will still take you with little to no XP if you come from a target. I see many target school students who didn't even know what IB was and literally stumbled into a top tier bank. The saddest part is that this is actually true.
Hope this helped.
The troll strikes yet again!
I know you are a troll, but I feel like your earliest posts do express your genuine bitterness and frustration about coming from a non target, so I hope things work out
I'm sorry you didn't get the job you wanted out of college. perhaps it's time to do something about it instead of thinking of creative trolls on WSO.
Obvious troll, but this is mostly how it works.
I'm so sick of these types of posts...get off this site.
I lost brain cells reading this.
I hate you.
Really like the Creativity part. There are just boatloads of resumes that come thru that they all look the same. Always thought that when I was going through the process " man if i get into IB im going to be so receptive to these kids and help them out. It hasn't worked that way. so many applicants come our way that theres only time to select the ones with the best trackrecord, or one standout experience, reference, or interaction that gets them noticed.
That being said, being too agressive on linkedin, mass sending some generic shit to an entire firm's analyst pool is a pretty good way to get zero responses. It wild sitting in the bullpen hearing all the ignorant things these undergrads try. Important to be chill about it. Its so competitive, that the only way is to be direct and legit about your technicals, resume, and pitch.
Fastest way to IB? (Originally Posted: 02/21/2018)
Hello currently I'm attending the University of North Texas, and I want to get somewhere in the IB field. I was wondering if it would be faster to go work in a boutique in Dallas for 1-2 years, then go back and get an MBA at the University of Texas or somewhere similar of its caliber, so that I could progress. Any suggestions or tips?
"wondering if it would be faster to go work in a boutique..."
Faster than what? Not working in IB at all?
Take the best IB job you can get. Then reassess if you're better suited getting an MBA or trying to lateral to a bigger/better shop.
This has to be a troll
.
You didn't really specify what it would be faster than, but I think you were probably thinking about what would make the most sense to do for yourself if you want to do IB long term. And yes, obviously working in a boutique IB is preferable to not working in IB at all if that's what your ultimate goal is
IB applications, networking, etc. don't work unless there's already an established lane for you, on an individual by individual basis (like school OCR or family connection). If not, put it out of mind while you focus on the life you do have.
.
thanks for the stry sharing
How about the qualities of intelligence, hard work/great grades and learning your shit. Those seem to bring good luck.
Which would be the straightest path to IB analyst? (Originally Posted: 02/17/2018)
Hi, long time lurker but made an account to ask this question. I have been accepted to Middlebury College. My initial plan was to major in Econ, but I found a guaranteed transfer program (with certain GPA) to Columbia SEAS or Dartmouth’s Engineering school. If I went to one of these programs, I would graduate in five years rather than four. I am interested in Finance. Would it be better to graduate normally with an econ degree from a semi-target (Middlebury) or graduate a year late from a target school in a major that I am not necessarily interested in? I understand that I could just try to go a target for grad school, but this is guaranteed admission. On top of all this, I have been accepted to Boston College CSOM for Finance. Which of these three choices would give me the greatest chance at FO?
Hey Skolvikes, I'm here to break the silence...any of these links help you?:
Or maybe the following WSO members have something to say: nate11111 JimboUSC Ahsan-Khan
If those topics were completely useless, don't blame me, blame my programmers...
Best path to Investment Banking (Originally Posted: 02/18/2013)
Hi, so I've been creeping on this forum for quite a while and finally decided to post.
My question is about the best way to get into investment banking/hedge funds. I've searched and haven't been able to find an answer to my exact question.
My background is in math/statistics. My undergrad is in Mathematics from a top engineering school and I'm getting a master's in Statistics from another top school (not target). I have no experience in finance however, so getting an investment banking position out of school is probably pretty unlikely. My question is what the best way, for a person with my background, is to get into that industry.
My thoughts were to start as a consultant, in financial services, at a Big 4 firm and hopefully be able to move in from there. As a consultant, I figured I would get a lot of experience from a lot of different sides of finance and that would help my resume in moving deeper into the financial industry.
Any help would be greatly appreciated. Sorry if this has been discussed ad nauseum. I couldn't find an answer though.
As a non-target, your GPA is a huge factor, but of course, network, network, network
You could possibly get a quant analyst job, depending on GPA of course, and how non-target you are
This sounds like a great idea. Both undergrad and graduate schools are top 25. Just not Ivy or other typical target schools. My GPA's decent, so I might have a good shot. I'll definitely look into these positions.
Thanks!
Read something like M&I / WSO that will give you a broad understanding of the different positions available in the finance world. Figure out how everything works together, and more importantly what sounds most interesting to you. Once you've figured out where you want to wind up, start networking your ass off - learn from other people's experiences and get yourself on the radar of decision makers. Linkedin and school alumni are the best, don't be bashful. Don't let your background hold you back. If letters and arts kids can excel in investment banking then surely someone with your background can too once you become comfortable with all the soft skills.
I definitely need to network. Everyone's been telling me that. I figured financial consulting would allow me to do that better than anything else when I first start out. Thanks for the words of encouragement!
learn a lot about the industry, network and show how eager you are to do it
That fact that you already "searched" for this means you will not succeed in banking.
I suggest you search for a new career.
I would think that an MBA may be crucial, as that is where most banks are hiring from these days. So bulk up on WE -- consulting as you mentioned would be great, but there are lots of other options.
And the best path to IB is basically to do the exact opposite of what I did/do.
Signed, a JD/MBA
I plan on getting an MBA when the time is right. That probably won't be for another 3-5 years down the road though. I just want to make sure that I have the financial background/skills when I do decide to do that. And without a degree in finance, I'm not positive how best to acquire those skills.
Financial consulting sounds good, but I'm not sure if the work I'd be doing would be applicable in banking.
The JD didn't work out?
Into I-bank? (Originally Posted: 10/18/2007)
Hi guys, I am an Oxford MBA with a degree from Cambridge as well. I have worked both in industry and academic but nor in Finance/ibanks. I was wondering how could I gain an entry into Banks? Since I have no experience of Finance, i will be rejected for the Associate level just becuase of sheer competition. What do you guys advise? Thanks S
Emphasize your industry-specific experience to its IB counterpart group and contacts that could potentially help bring in business.
Suggestions for crossing into Investment Banking (Originally Posted: 04/23/2008)
I am currently in the IT sector and have been over the last seven years. I have always been interested in the financial sector but have no formal training. I have spent several months reading up on I-Banking and have decided this is the move I want to make. I didnt come out of one of the more prestigious liberal art schools nor one of the ivy-league schools. I have plenty of experience in IT (software developer) but stuck on how to transition into Finance. I would appreciate any help from all the "monkeys" out there. Great sources to get the basics so I can continue to advance my knowledge on the industry and how best to proceed to getting in. Any help or suggestions is greatly appreciated. I have thought of taking some of the IB classes offered but not sure how much good they would do. Thinking of going back to grad school and doing something like financial engineering but that is pretty heavy on the quants and not too sure if there is no better way to get.
Get an MBA from a top b-school. Check out the Business School Barrage forum here (along with Vault forums, BusinessWeek forums, etc.) to get more details on how to get in, what to expect, where to go, etc.
get an MBA
the industry is in turmoil right now, it will be extra hard to get hired as there are less jobs and lots of fired financial professionals floating around
given your credentials, you will have a much better chance if you re-invent yourself with an MBA
Trying to get into IB (Originally Posted: 06/12/2012)
Hi,
I am trying to get into IB. I have been doing risk management consulting for past two years in energy and now would like to get into IB. Any advise?
Thanks, OnyxCap
pray.
MSF?
MSF, Network, MBA I would imagine you have contacts at Energy firms on their internal M&A teams, reach out to them.
advice
Prospects to breaking into IB (Originally Posted: 11/17/2012)
Hey all,
My friend recently got accepted to for a recruiting postion at an MM IB. Can I leverage this in anyway? Or does this work to my advantage at all, when applying for positions within this firm (I am aware FT recruiting is close to being over)?
Any advice or feedback would be awesome.
just a point of clarification, you were offered a job as a recruiter at MM IB? That would be considered HR right? If that's the case,anything is possible and you could probably network somehow, but I don't think it's too likely. If I'm misunderstanding your position, then sorry. Disregard this.
I'm sorry if I phrased that wrong. What I meant, is my friend has the job in HR. Just wanted to understand if I could use this to my advantage in anyway.
Why don't you ask your friend..
Offer advice - Want to get into IB (Originally Posted: 03/21/2013)
Hi I was wondering if I could get some help with my situation. I want to get into investment banking full time. I got on the bandwagon late, winter break of my junior year, and didn't position myself well for summer recruiting, 3.3 gpa and no internships. Since then I've been going balls to the wall networking with alum and cold calling. I received a couple boutique sa interviews but no offers. Feedback was I interviewed well but lack of experience and gpa killed me. I was able to land a part time unpaid internship during the semester at a boutique and I'm working there now. Summer is up in the air and will probably be unpaid. I can't really afford to work unpaid this summer, and my app is only out a couple other places. I recently received a treasury role at a mutual fund through a family connection. I need to make a decision by the weekend. As I don't have any offers and it is unsure whether or not I will get an offer in banking, I'm considering taking it but I am scared that ill get crushed in ft recruiting for lack of FO Sa stint. Should I take it and if a better offer comes up reneg?
I would take it for now and keep exploring. Burning bridges is never good in finance but if you are ever going to do it I would think reneging for an internship would be least harmful.
Bird in hand > 2 in bush. Take your offer.
Take the offer. Assuming you end up at the fund this summer, make sure to speak with the guys doing the investing/research. They probably have friends across banks on the street (if not IB, then at least AM). Or, maybe you'll find that you like working at a mutual fund, in which case try to move across to the investing side of the fund, rather than treasury.
Thanks for the advice guys. I guess then my next question is how do I explain going from an IB internship in the spring to a treasury in the summer come FT recruiting? How do I spin that without making it seem like i just didn't get any SA offers or do I just say that outright.
Since when do you have a spring internship at an i-bank?
Also, you might want to get moving on building a network. You're in the kind of situation where you need the opportunity to explain yourself to someone, because you won't get picked up out of a resume drop.
For some reason when I look at your name, my mind automatically goes to this...
If you are in fact a Dartmouth bro, PM me and I will help you.
Just to clarify, I don't go to Dartmouth. I'm working part-time at a boutique right now, I guess I wasn't clear enough in my follow up post. And yea, he's the main character in Heavyweights.
I've definitely been working on building my network, alumni network and cold calling/emailing, but I'm kind of worried about how I am going to explain my story when it seems like I'm progressing backwards.
Thanks
Classic film, lots of mighty ducks overlap. Does anyone have any advice on how to spin my situation tho?
Just take it, experience is experience, better than sitting on your ass the whole summer doing nothing.
Do I have a shot at breaking into IB this way?? (Originally Posted: 11/27/2013)
I'm currently a sophomore at a non target (top 10 in USNWR regional university north ranking), and I'm planning on transferring to a semi-target: UNC Chapel Hill, Wisconin-Madison, and Michigan are among my top choices. I accept the fact that I most likely won't be able to break into IB directly out of undergrad, but I want to go to a "name brand" school that has a respectable national reputation so I'm not killed in MBA admissions. My plan is to major in econ with a solid GPA (I currently have about a 3.6, hoping to pull it up a bit too), work in corporate finance or maybe corporate development after undergrad, then go to a top MBA school and break into banking that way. How does this strategy sound for breaking into IB? I'm a URM as well, since I know this most likely will be a factor (and I'm not saying that I'm entitled to any boost, I'm actually against affirmative action, but I can't ignore that it is a factor for MBA admissions/IB recruiting). Thoughts? Suggestions? Any help is appreciated. Thanks
why u wana do banking? money? exit ops? if its latter, im not so sure associates gona offer u much
as of now, I would like to stay in banking for the long haul. i'm not trying to get into banking just to use it is a launchpad for something else, and I'm fully aware that there aren't as many exit opps for associates. by the way, would this be an effective pitch in an interview down the road? would it show that I'm more committed?
if you're a URM male, you have a good shot of breaking in as long as you have a decent/mediocre resume.
if you're a female URM, you have a great shot at breaking in.
would corp fin/dev experience along with a 3.5+ GPA and top 5/10 MBA degree constitute a "decent/mediocre resume" for banking?
Unless you go to a super target, networking is the key to everything. It doesn't matter if you go to a school in the southwest/northeast region in a hyper/desensitized, realistic/fake, semi/nonsemi target school it doesn't matter. You have to prove something, the best way to do that is to get great grades and NETWORK.
Those experiences would help, but networking is the key. Think of it like this: Reach out to other people in IB with a similar background to start having the understanding that anyone can turn the conversation into a phone screen (make sure you are reading up on interview guides).
Advise a noob on getting into IB! (Originally Posted: 12/11/2013)
Here's my profile:
Private University in Hawaii (from continental US originally) BA Economics 3.2 GPA 2.5 years helping run late dad's fam business. Good w/e but NO finance 740 GMAT
My Plan:
I realize there are a lot of people on here who will look down everything about this plan, but I think it may actually be the best considering my situation.
1. MBA - not enough w/e for t10, and I'm worried that even if I do get in, I wont be competitive among that student body to get good placement in IB 2. Network for internship or FT placement - I figure the "no finance" is a deal killer here, plus not being enrolled in an academic program 3. Getting in laterally - I understand there have been some cases where others transfer from say, credit analyst, but that would take some more schooling or training anyways
Not that I'm ruling these ideas out altogether, just wanted to voice the reasoning behind my current plan. So, any thoughts? I'd really appreciate some experienced input, maybe from someone who's done some hiring? Or someone who got in from a similar background?
Penny for your thoughts guys. Thanks!
I lost my dad at your age. Focus on work, be a pure opportunist, leverage ALL of your family's connections, and don't even think about a relationship at this point in life. It took me a while to figure this stuff out, and it about sums up what you need to do for the next 5 or so years.
Focus on work: you're on your own now. This will affect facets of your life you never realized. Money will help solve a lot of these problems. Now you will see the world of the kid who grew up without a dad, and it's pretty hard. Do not let people take advantage of that void.....especially a boss. Look for a mentor(s). Get help. And accept it.
Be a PURE opportunist: do not get fixated on any one job or company. Take full advantage of whatever you can as long as it serves viable long term goals. Does IB get you there? Great. The military? Ok. Herding goats, selling boats, or opening a business? Very well then. Jump on it. Kill it. You are a pure mercenary now and no one is coming to help you.....just don't create too much bad karma.
Leverage family contacts NOW: these people knew your father and a few will stick by you over time. Most others though, they'll start to 'forget' who you are so you need to figure out who to cash out on and who to invest in. This sounds opportunistic, but only to people who HAVE a dad that's going to introduce them to people, so fuck them. Their opinion doesn't matter.
No relationships: just don't waste the time. You have shit to do. If you find someone worthwhile....and it's a stretch for your age group.....then great. More likely, a relationship will just be a hindrance: they'll be pissed off at you for being so serious and needing support, and they'll likely just add to your misery. You're going to change very radically in a short period of time relative to your peers.....and they can not relate so don't waste your time treating them like equals.
This should go unstated but here goes: seek help. Professional help. Losing a parent is a huge deal and you may think you're ok but you are most definitely not. Don't let this silent stressor fester: deal with it immediately. Consider it a gift to yourself.....do something nice for yourself. Anyone who tells you otherwise, feel free to toss them off a bridge....I don't care how you deal with them, just shut them down, block them out, and take care of yourself. Trust me on this.
As far as education, you could look at a masters in finance. They'll give you a crack at more recruiting and help elevate your grad school profile. Don't get too hung up on IBD, the industry is shrinking for the next few years and there are LOTS of other very good jobs out there. Consulting, ER, F500.....do not ignore these other very good opportunities. Example: F500 corporate finance -> MBA -> IBD is very common. Your stats are good, now do some research and you'll find your opportunity. If you're only two years out of college, there's plenty you can do to position yourself for IBD.
New User looking to break into IB (Originally Posted: 12/19/2013)
Hey everyone, just joined today. I've been in consumer lending for 4 years, i'm 26, BBA in Finance, starting a MFin w/ focus in Investments and Securities 01/2014. My ultimate goal is PE or hedge fund. I was thinking my best bet is looking for IB Analyst positions. The problem I seem to see is that most are hiring from summer intern programs. Did I completely screw myself by not doing this in college?
What are some additional job titles I could search for that could lead into an IB assoc. position?
Tips for the search or strategies?
Being that I'm from a rural area my contacts in the industry are virtually nil. I'm currently in SC and want to be in ATL, Charlotte or Jacksonville but would consider NYC if necessary since there are clearly far more opportunities there. Thanks for your help!
welcome - no you didnt completely screw yourself but it will take a massive amount of networking and hustle to ever make it to a reputable PE / HF shop given you are a non-traditional candidate.
What about PE / HF interests you? That is a pretty big umbrella...better to do more research and try to narrow down your search so you can come across as knowledgeable of how those industries work. If HF, event driven? macro? relative value?
If PE, gowth equity or LBOs?
thanks. to be completely honest with you, I just love the game. The intellect and kowledge you use to make investment decisions will either be better than the competition or worse. Because it's a zero sum game. I've always loved math, number crunching and the idea of using the tools at your disposal to turn a sum of money into a larger sum of money.
I will admit I do need to continue to learn more about the industry and study. There is so much out there. Would I be better looking into some modeling courses or maybe valuation techniques?
One last thing is that macro is probably one of my favorite areas. Thanks for the response
Aspiring to break into IBD -- Introduction/ Advice (Originally Posted: 05/16/2014)
Hello to all,
I just wanted to take a second to introduce myself.
As of a year ago, I left the 80k p/yr sales job that I had been working, to finally return to school. I had completed a year of college ≈5 years ago. I have succeeded at plenty of sales jobs, and have become increasingly interested in the finance industry from my encounters with its indirect effects on my previous employers.
I am a member of the horde, which seeks to break into investment banking.
To return to school, I enrolled in a community college, and am now heavily involved on campus in various leadership roles. I have a 4.0 from all of the classes (11, so far) that I have taken here. I will be raising my GPA as high as I can, (my previous one year at a University was less than satisfactory) in order to transfer elsewhere upon closing of the coming school year. My cumulative GPA, inclusive of the single (atrocious) year of college in 2009, however, can only reach as high as ≈3.4. If I apply for a transfer before my last semester's completion, it would be ≈3.3.
I can easily make it into the University of Florida, which, here in Florida, is highly regarded. But I know that in the IB world, it's not even a blip on the recruitment radar. I have been looking at other schools, where I could plausibly gain admittance, and that would better position me for recruitment. I realize that any ivy's are out of the picture, but Boston College's CSOM program, for example, seems like a remote possibility, which could be phenomenal.
Are there any other colleges that would place me in a better position for IB recruitment, that would potentially accept a ≈3.4 GPA with somewhat strong work history?
Also, I want to otherwise do as much as possible to increase my chances at successfully landing a SA offer.
I don't see myself in the current position to start networking, as having yet to transfer to a university, I lack the resources of an alumni network. Most importantly, I don't feel that I have built much academic credibility yet, which prevents me from calling any local boutiques.
I'm under the impression that an accounting internship early on (as a sophomore) may help my chances at landing an IB boutique internship, in order to then land a SA offer. Is this accurate? I have enjoyed the financial accounting class that I took, and have secured a recommendation from my accounting professor to potentially land such an opportunity locally (if such an internship would help).
This summer, I also plan to take a financial modeling course. Which would you recommend for the most exhaustive experience to a newcomer, and why?
I have been looking into Breaking Into Wall Street, Wall Street Prep, Training the Street, and Wall Street Training.
Lastly, is there anything else that could prove beneficial in improving my chances? Perhaps commencing a small stock portfolio? (I could spare 1k)
Thank you to anyone who can help!
Welcome! First of all, congrats on going back to college! In terms of a financial modeling course, are you planning on taking a physical course or a self-study? If you are devoting the time and money to an in-person course, I would recommend Adkins Matchett & Toy (recently had experience with them and the materials and instruction were impressive). If you want a self-study the choose from WSP or BIWS. If you use the search bar there have been discussions as to the merits of both programs. I personally have done the WSP program and can attest to the good quality of its contents and the usefulness of having the printed material on-hand for reference. Best of luck and enjoy the WSO experience!
Thanks for the welcome!
Unfortunately, finances don't allow me to partake in an in-person course. Also, I'll be out of the country for a large part of this summer, therefore, self-study presents itself as the feasible option. I appreciate your insight, WSP and BIWS are the frontrunners, and with your advice, they've taken a greater lead.
To be honest, I know financial modeling is helpful training to possess, but am uneducated as to what it really concerns. I have taken an introductory financial accounting class, and have grasped the concepts very well. Is this all that is necessary to grasp the concepts in the training?
My path to IB...is this viable? (Originally Posted: 09/12/2014)
Background:
Now till January:
January till October:
October forward:
seems like a typical question people come on here to ask..anyone care to explain why I'd have monkey shit thrown at me for this post?
might be harder for a canadian? I dont know but seems like a good path, definitely more planned than how i got in
I would think long and hard about dropping what I imagine to be a large sum on a masters degree in the hopes of having another shot at recruiting for the most competitive industry there is.
Can you please suggest a better alternative? I am set on breaking into IB
People here are very hostile. I think your plan's fine.
Says the guy who's going to pay $5,000 for his boutique IB job.
I just got my masters to get into IB, and it worked.
Your plan looks fine too. See my recent post.
You are insane if you are considering spending $65K to have a shot at banking.
What exactly do you think investment banking is?
I kinda feel you OP maybe because i'm in the same position as you, but you're much more qualified than I am. Maybe if you can get in touch with your University,you could try asking if they have any internships available that can enrich your resume.Why not drop your resume and cold call a few places.
My main concern is with the network and brand LSE has to offer. I've read plenty of posts on here about people thinking of re-branding but haven't read any from someone who has actually pulled it off. (Throwaway2011 you started off at a target to begin with)
Sure, the 9 month experience in London will cost 65k; It is a lot of money to spend on a brand and network. However those who go to target schools spend at least 3 times that much on total tuition costs alone.
Don't mean to piss off any target guys here; not implying LSE masters is comparable to you're undergrad. What I am saying is that if the LSE brand and network can yield at least one third the premium placed on target undergrads, then it seems like a relatively reasonable investment. (Keep in mind I sunk less than 5k on my entire undergrad)
Thanks for your advice guys, I will look for alumni on linkedin and get their insights too.
What do you guys think of this plan to break into IB? (Originally Posted: 07/26/2015)
.
And this may sound pessimistic, but I'm pretty sure my GPA will fall out of what's needed for IB this year due to the difficulty of my upcoming classes plus all the associated tasks involved with networking, looking for jobs, flying around interviewing, meeting people, etc.
What if it falls to 3.2 or somewhere around there? How likely would it be for an offer to be rescinded if it fell this low?
It's extremely unlikely you will land an internship or full time IB position. Anyone who says differently is bullshitting you. In your situation, I'd leverage the internship experience you have and parlay that into a role somewhere else, and I'd focus on boosting my GPA during my final year. The odds are, any effort (which will be significant) that you spend on IB will be wasted and you'll miss out on what's right in front of you.
Thanks for the feedback.
My resume isn't too bad otherwise outside of the lack of a junior year IB internship. That's why I feel delaying graduation would be the best strategy so I can put myself in the SA pool and compete against others who have no IB experience (some may have sophomore year experience, but most won't). But you are right in that I'd have no chance at an internship otherwise as a traditional senior, so that's why I came up with this idea.
As for the FT gig at a small shop, I have a spreadsheet of hundreds of firms I'm considering, so I'm going to attempt to network, cold call, or cold email my way in there. All it takes is one, so that's what I'm hoping.
I am willing to take a non-IB job during my time off, but IB is the goal. So the goal of course is to do what I can to make myself eligible to secure an internship and go from there.
Bump for any additional opinions.
IMO when you push back graduation you should aim for an additional year since one semester means almost nothing in terms of time and credits earned. What is a rising senior? Don't delay graduation at all unless you get a relevant internship first.
Did you do anything meaningful in the summer after your jr year?
Extend your graduation one semester. Look for a fall internship at a bank and recruit for a SA gig. I know people that have done this successfully. Good luck
Opinions on strategies for breaking into IB (Originally Posted: 10/31/2015)
Hello All,
I am a first year Credit Analyst (Large Corporate division) at a Regional Bank, with ~$70Bn in assets. Currently, I am working on my financial modeling skills as well as networking/preparing for interviews. With that being said, I am trying to move into Investment Banking by networking with my colleagues, friends, alumni, etc. I did not attend a target school so I know this will not be easy, especially with no prior IB experience.
So, I have two strategies that I have come up with in order to break into IB:
Continue to sharpen up my modeling skills, and begin mastering ib interview guides, while networking and trying to get interviews - primarily at smaller shops because of not being from a target. [Hopefully land a spot at a Small Shop, stay there for 3-4 years and have - in my mind, a good shot at getting into a top-tier school such as Booth, Columbia, Berkeley, or Ross - H/S/W would still be too big of a stretch IMO because of my lack of being from a top-undergrad school], and use that to move into BB IB with the hopes of at least making it to the VP level.
Stay at my current job - which leads to becoming a Relationship Manager (Corporate Lender) in 18-24 months and become a Lending VP within 3 years after that (total of 3 promotions) while simultaneously studying for the GMAT until I get a 700+ and use that experience to get into a top-tier MBA about 5 years of experience. [However, because of my lack of going to a top undergrad school (although I did achieve a 3.94 GPA) I am being realistic with myself and know that I have no shot at H/S/W, although I think if I get a high GMAT Ross, and Berkeley could be possible - Booth might be a stretch with only being a Corporate Lender and going to a non-target - what do you guys think?]. Then I would use the top tier MBA to break into IB FINALLY at the Associate level and stay there for at least a couple years once i make VP.
Please let me know what you all think - I truly appreciate any feedback and suggestions,
Thanks
Tempore fuga molestias velit sequi praesentium occaecati. Nemo accusamus maxime nostrum sunt. Repellat molestias et sint aperiam deserunt consequatur. Aut dolor vel deleniti quis et est quia.
Quia maxime fugiat voluptate beatae. Rerum esse reprehenderit voluptates illo est rem repellat. Aspernatur officiis sit corrupti.
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...
Aliquam sit et quia quam doloremque placeat minus omnis. Doloremque vero culpa omnis laudantium. Numquam quas atque dolore aut eius.
Et sint omnis amet exercitationem in commodi architecto asperiores. Officia mollitia repudiandae ut ullam.
Qui tempora et alias natus dolore quibusdam vero ipsa. Velit vero error quidem in. Odio ullam officia expedita quia dolorem. Et quae perferendis vel excepturi sapiente minima molestiae id.
Sed inventore culpa perspiciatis rem harum. Quam labore repellat aliquam quidem laborum eaque ex. Dicta et ut cum. Consequatur possimus laudantium magnam voluptatem dolorum id temporibus animi. Voluptas eaque eos aut quos excepturi. Rerum perspiciatis est est atque esse neque. Quidem aliquam nesciunt molestiae commodi ab.
Et culpa est molestiae ipsum. Veritatis ipsa eligendi non libero qui nobis asperiores. Et amet modi itaque inventore quis id. Omnis quia labore consequuntur facere est atque laborum. Sit earum et est ratione. Dolorem inventore laudantium recusandae. Enim numquam tenetur voluptas. Voluptate quisquam dicta consequuntur assumenda ipsa.
Neque dolorem qui modi quaerat commodi. Minus voluptatem delectus vel fugit quae officia.
In dolorem et nulla dicta corrupti consequatur natus. Possimus eius expedita dicta voluptatem velit ea. Aut sapiente aspernatur magni aut cumque. Quia odit eos explicabo quos.
Praesentium ut aut quos. Perferendis accusantium quos voluptatem eius odit voluptatum vitae pariatur. Sed ipsa facilis non eum dolor architecto sint. Eius quia placeat quam impedit eos quis.
Est eaque iure dolor ex et. Cum minus aut et fugit veniam et laborum laudantium. Sed vero eum consequatur cum rem quos. Voluptas incidunt autem quam aliquid. Suscipit labore quibusdam eos. Eum reprehenderit nihil quae in libero qui. Sit quia excepturi nulla.
Voluptatem est molestiae et doloribus cumque voluptates. Est qui dolores est aperiam neque.
Sit sunt nihil nihil at praesentium et sunt. Sint totam optio quia quo mollitia adipisci. Repellat voluptatem exercitationem qui.
Deserunt quia dolores laboriosam sint voluptas eos. Quidem culpa atque eligendi sunt. Repellat itaque et quibusdam nesciunt sint eum laudantium. Dolore sit eius porro et aut earum dolor. Omnis recusandae architecto aut quasi repudiandae amet et. Perspiciatis error incidunt accusamus ab.
Officiis ut perspiciatis consequatur numquam vero. Delectus aut iusto enim quasi voluptatem aut eos. Corporis animi dolores qui dolore doloremque magnam. Est explicabo labore dolorum ducimus omnis.
Est consequatur voluptatibus quas neque beatae nisi iste. Possimus et vero sit tempora totam sed. Voluptates et quam qui ratione voluptatem quod.
Adipisci officia est fugiat quo laboriosam eaque. Eos quia omnis fugit molestias. Nam et et quidem expedita consequatur ut.