Breaking the Cycle: 4 Years of Experience and 4 jobs
It’s been a volatile few years and would appreciate any advice people are willing to offer as to how to best move forward.
Background:
Non target: Finance + Econ + Management Triple Major with a Data Science Minor (3.5 GPA)
Work Experience:
Job 1 (10 months): Tech Sales
I couldn’t land an IB job out of school but took this job to work on my weak public speaking abilities. Hated the role but learned a ton and got caught up in COVID layoffs.
Job 2 (12 months): Analyst @ Boutique IB doing DCM deals
Networked my way into an analyst gig but had to work for minimum wage and move back in with my parents. I got to work on a few deals and never received any mentorship or training so I felt I had to leave in order to get more of a professional foundation.
Job 3 BB Analyst (5 months):
The job market was hot and banks needed asses in seats so I was in the right place at the right time. Was upfront about shortcomings in the interview process but was able to discuss the deals I worked on in great detail.
The bank that hired me said it would put me through its training program but that never materialized with the crazy deal activity. Ended up getting thrown into the fire in a top group that was very sweaty, which went about as well as you’d expect.
I was able to learn a lot on the job in a short period of time and was starting to make large improvements but couldn’t overcome the bad impression I gave some due to knowledge gaps during my first deal.
The layoff news didn’t shock me but it left a little bit of a sour taste in my mouth since they knew about my shortcomings when I interviewed but still chose to hire me.
Work Gap (12 months):
Applied to pretty much anything and everything but couldn’t get any traction anywhere before having to move back in with my parents.
During that time I continued to buildup my skill set with self studying on LinkedIn, learned a few technical skills (VBA, Python, R), and took an online modeling course from BIWS.
Job 4 (Been Back for 9 months) Senior Analyst @ Previous Boutique IB
Given I was back locally I reached out to the Boutique I previously worked for and came back as a senior analyst but am still making minimum wage.
Given the job market is garbage I’m comfortable riding things out for another year here but am scared about what lies ahead after that. I’m much better off than when I started at the BB but won’t receive any training or mentorship here.
That makes me wonder what the hell I should be doing moving forward. It’s not like I’m incompetent as I understand everything that’s going on I’ve just never received any training or mentorship. I’ve worked hard to overcome that but it’s only been able to get me so far to this point without further live transaction experience.
While it sucks being broke and living at home I wouldn’t say the last 4 years were a complete wash. I’ve gotten pretty good at public speaking and selling my self from the tech sales job even if it’s still something I don’t particularly enjoy. I’ve also learned a lot about RX and credit markets as well.
Does anyone have any advice for moving forward?
Would getting an MBA provide a reset and an opportunity to get mentorship and training?
Based on the most helpful WSO content, it seems like you're considering whether an MBA could be the right move for you to reset and gain the mentorship and training you feel you've missed out on. Here's how an MBA might align with your situation:
Career Reset: An MBA can act as a reset button for your career. It's a chance to step back, reassess your goals, and gain new experiences. Given your varied job history and the desire for a more structured professional foundation, an MBA could provide a fresh start.
Training and Mentorship: MBA programs often offer formal training and opportunities for mentorship. You'll be exposed to case studies, group projects, and potentially internships that can fill in knowledge gaps and provide hands-on experience.
Networking: An MBA can significantly expand your professional network. This could be beneficial given your experience in boutique IB and tech sales. The connections made during an MBA program can lead to mentorship opportunities and open doors for future roles.
Brand and Credibility: Attending a well-regarded MBA program can add a strong brand to your resume, which might help overcome the volatility of your early career.
Financial Consideration: You mentioned being comfortable with your current situation for another year despite the low pay. An MBA is a significant financial investment, so consider the cost and potential return on investment, including the opportunity cost of not working during the program.
Long-term Career Goals: Reflect on your long-term career aspirations. If the roles you're aiming for typically require or highly value an MBA, then it could be a strategic move.
Remember, an MBA is not a guaranteed solution, and it's essential to weigh the pros and cons based on your unique circumstances. It might also be worth exploring other forms of professional development that could provide the training and mentorship you're seeking, potentially at a lower cost and without the need for a full career pause.
Sources: Am I Thinking About an MBA Wrong?, https://www.wallstreetoasis.com/forum/consulting/should-consultants-get-an-mba-8-scenarios-to-consider?customgpt=1, MBA Costs $500,000 -- Worth It?, To anyone considering an MBA, Q&A - Infrastructure PE & IBD
Based on the most helpful WSO content, it seems like you're considering whether an MBA could be the right move for you to reset your career and gain the mentorship and training you feel you've been missing. Here's how an MBA might align with your situation:
Career Reset: An MBA is often viewed as a reset button for one's career. It can provide a fresh start and a chance to pivot into a new role or industry. Given your varied experience and the desire for a more structured professional foundation, an MBA could offer you that structured environment to learn and grow.
Mentorship and Training: Top MBA programs often have strong mentorship components, with access to experienced professionals, alumni, and faculty. This could fill the gap you've experienced in your previous roles.
Networking: MBA programs are also known for their networking opportunities. Given your background in sales and your ability to sell yourself, you could leverage an MBA to expand your professional network significantly.
Skill Development: While you've been proactive in learning technical skills and taking online courses, an MBA program could provide a more comprehensive curriculum that covers a wide range of business and management topics.
Brand and Credibility: Attending a well-regarded MBA program can add a prestigious brand to your resume, which might help in overcoming the non-target school background and the job-hopping concerns.
Long-Term Investment: While the short-term financial and time investment in an MBA is significant, the long-term career benefits can be substantial, especially if you leverage the MBA to move into a higher-paying role or industry.
Personal Development: Beyond the professional aspects, an MBA can also be a time for personal growth, allowing you to reassess your career goals and what you want out of your professional life.
Before making a decision, consider the cost, the potential return on investment, and whether the roles you're interested in require or highly value an MBA. It's also worth considering part-time or executive MBA options if you're concerned about the opportunity cost of leaving the workforce for a full-time program. Remember, an MBA is not a guaranteed solution, but it can be a powerful tool when used correctly in one's career strategy.
Sources: Am I Thinking About an MBA Wrong?, To anyone considering an MBA, https://www.wallstreetoasis.com/forum/consulting/should-consultants-get-an-mba-8-scenarios-to-consider?customgpt=1, MBA Costs $500,000 -- Worth It?, Q&A - Infrastructure PE & IBD
Are you on track to make associate at your current firm this summer if you’re a senior analyst right now and how are your hours? Seems like you can also try and get a third year analyst position sometime by this summer at a larger bank still in the LMM/MM that will pay closer to street since you’re grossly underpaid for IB work.
As for MBA, if you can swing a high enough GMAT/ GRE, I think you can cobble together your work experience / story to swing a T20 school. From that point, follow the standard recruiting path for a MM/ BB associate position.
Depending on your current situation, you can potentially skip the MBA and just slowly switch firms / move up in titles but it’ll be definitely less structured than getting the MBA and following that process.
Animi possimus qui deleniti saepe quia repellendus suscipit. Saepe unde suscipit minima molestiae in placeat dolorem. Quidem corrupti inventore qui voluptas sed.
Est voluptatum cum dicta deserunt. Reiciendis cum aliquam aut eligendi dolorum voluptas dignissimos. Iste reprehenderit nisi maxime tempore molestias. Quia laborum odit provident iste sunt aut et.
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...