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Seeking career in Investment banking recent grad

1,389 Views | 5 Replies | Last: 2 mo ago by I Am A Critic
RobCar73
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Howdy!
I just graduated with a degree in economics. I am seeking tips and guidance on how to break into investment banking and any proactive steps to take.

Thanks and gig 'em!
Dlove23
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AG
IB is an extremely difficult area of finance to get into from a non-target university. A&M is not one of those, which will make your journey quite a bit more difficult.

You need to have done very well in school (4.0, top rank of class, etc). Consider a graduate degree. MS Finance is great program at Mays and has wall st. connections, but a more "prestigious" institution in the eyes of finance will be better. CFA designation (or progress into) will probably be a must have. Any work experience in finance will be a plus. Get on LinkedIn and grow your network with A&M grads currently employed at any of the banks you'd like to work for. Take some of those folks to lunch or coffee and pick their brain, learn their path, and ask for more connections.

Best bet is probably working in an adjacent area of finance or for a smaller boutique shop and then jump to a big bank in 4-6 years, assuming that's your end goal. I don't mean to be discouraging, but a BA or BS Econ from A&M will not be enough unless you are a super nerd with connections.
RobCar73
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Thank you for the advice!
Deputy Travis Junior
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If your goal is top tier Wall Street investment banking (JPM, Goldman, etc), then the best way is to work a quality finance job for 3-4 years, attend a top to 5-10 MBA program, and try to land a summer internship, which are basically extended job interviews. Unless you graduated with a 3.9+ and did some highly prestigious academic work or internships that you haven't mentioned, it's probably too late for you to jump into the recruiting cycle for undergrad positions. IB candidates start building their resumes for analyst positions 2 years out (internships are everything from what I can tell).

If you're fine with a less prestigious shop, then start applying now + simultaneously study your ass off for IB interview questions. They are mega technical, difficult, and specific, so you'll need to prepare or they'll chew you up. BTW, you'll still need good grades to get an interview at a smaller IB firm (I don't know the exact number but probably 3.6 or 3.7+). I seriously doubt you'll get any interviews if you have a 3.0 and no internships. Still, you don't need the perfect resume than Goldman requires. I've interviewed a few analysts and associates trying to leave smaller IB firms to improve their quality of life, and while their resumes were strong, they weren't crazy. Like, one guy graduated with a 3.2 or 3.3 from University of Wisconsin, got a job at an accounting firm, earned his CPA + a masters of finance with maybe a 3.7 or 3.8, and then got a job as an associate or senior analyst at a mid level IB firm.

Also, Go to wall street oasis or one of those sites. You'll find hundreds of threads and more advice than you can read on this exact question (how do I break into IB if I'm coming from a non target school and have X.X GPA?)
10andBOUNCE
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AG
I Am A Critic
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I recommend you have a VERY good explanation of why you graduated with no job when it comes time to interview. Otherwise, I'd question your initiative and motivation.
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