Want to break into IB in 30’s with a shite history, excuse my language
Hello,
I am a 33 year old single male. Immigrant family, US citizen.
I went to a private school in LA for undergrad and majored in accounting, gpa 3.7-3.8. Worked in PA audit for about 4 years and wanted something more both intellectually challenging and meaningful, and ended up in medicine (md program in midwest) in 2.5 years after leaving my PA job in 2017 due to having family members in the field and being exposed to it. I struggled in medical school and felt like a fish in sand from from the first week not because of the academics but because I struggled to fit in medicine’s social culture. I did well enough to earn 2 scholarships in medical school though, but due to severe health deterioration, had to leave medical school in my 3rd year in 2023. Earned master’s by finishing a capstone project and here I am.
I did research that MBA would be the best route toward IB, and began the application process, but did not have a strong enough story to tell on pursuing business, nor a strong enough career, to earn a spot at M7 during R2, despite having a 760 on the gmat which I studied for while completing my capstone.
I got a job at the Irs (yet to start) because of my accounting degree and I’m grateful to be employed soon, but I know tax nor government work is what I want to do.
I’ve been learning financial modeling on my own and plan to get a certificate. I don’t mind working long hours in high pressure environments.
I need some advice and decided to make this post. Thank you in advance.
Did u go to USC or LMU? Just curious.
Tough. But not impossible.
You should def try for a top MBA, good story, gmat, work experience.
Regarding banking, an MBA maybe your best route.
But if you can get into a top program T3, can maybe go directly to a sponsor / alts (PE, VC, Infra Fund)
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Banking is possible, but only if you are willing to suck it up. The age dynamic can be problematic. Banking is not like normal corporates.
The Sadistic / Masochist bent of getting shit done can cause bizarre dynamics.
Hi,
Thank you for this reply. Although I could not sell myself well enough to earn a Mba spot this year, I will try once more next year during R1. My question is, if it doesn’t work out the second time, is it advisable to leverage college network, i.e. college acquaintance/friend who is hiring a corporate finance analyst at Oaktree capital? Would you as a VP in IB be more likely to consider me with that experience? Thank you in advance.
If your friend is hiring, you should try for that role, now. There is a likelihood it won’t be available in the future.
Regarding hiring, I can’t unilaterally just hire someone,
The process is very competitive.
And more importantly, banking isn’t the end all, be all. For most it’s a bridge to something better, which can be achieved even without banking.
Based on the most helpful WSO content, here's a strategic approach to pivot into investment banking (IB) in your 30s with a diverse background:
Leverage Your Unique Background: Your journey through accounting, medicine, and now towards IB is unique and can be a strong narrative if framed correctly. Emphasize your analytical skills from accounting, resilience and adaptability from your medical training, and your commitment to continuous learning as demonstrated by your financial modeling self-study.
Networking: This is crucial. Connect with alumni from your undergrad institution who are in IB, attend industry conferences, and participate in finance-related webinars. Use platforms like LinkedIn to reach out to professionals in the field. Express your interest in IB and seek advice or mentorship.
Financial Modeling and Certification: Since you are already learning financial modeling, consider completing a recognized certification like the WSO Financial Modeling Course. This not only bolsters your resume but also equips you with practical skills needed in IB.
Target Boutique and Middle-Market Firms: Given the competitive nature of M7 business schools and bulge bracket banks, consider starting at smaller boutique or middle-market firms. These firms often value diverse experiences and might provide more opportunities for someone with a non-traditional background.
Consider an MBA from a Non-M7 School: While M7 schools are highly prestigious, many other business schools offer excellent opportunities and have strong recruitment ties with investment banks. A 760 GMAT score is impressive and can be a strong component of your application.
Prepare for Interviews: Use resources like the WSO IB Interview Course to prepare thoroughly for interviews. Know your story well, be able to discuss your past experiences fluently, and demonstrate your passion for finance.
Internships or Part-Time Roles: If possible, try to secure an internship or part-time role in a finance-related field. This practical experience can be invaluable and also serves as a stepping stone to full-time roles in IB.
Stay Persistent and Flexible: Breaking into IB, especially from a non-traditional path, requires persistence. Be prepared for setbacks, but stay committed to your goal.
Remember, your diverse background can be a significant asset in a field that values diverse perspectives and problem-solving skills. Use your unique experiences as a strength in your journey into investment banking.
Sources: How to break into investment banking for non experienced, Q&A: Broke into MM M&A from a non-traditional background and 2 years of networking and internships, https://www.wallstreetoasis.com/forum/investment-banking/can-i-get-into-investment-banking-from-non-target-school?customgpt=1, A Guide for Switching From Commercial Banking to Investment Banking, https://www.wallstreetoasis.com/forum/corporate/breaking-into-corporate-development-from-non-traditional-backgrounds?customgpt=1
Gotta go MBA and your time to do so is running short, cuz sweet spot for MBA is mid 20s to early 30s
Don’t work at the IRS . That’s stupid.
You haven't explained why investment banking. If there is a chance you're interested in other areas of finance then consider equity research and try to land one of the prominent medical-related or experienced professional fellowships/programs.
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