Comments on: From Non-Target School and Unpaid Wealth Management Internship to Full-Time Bulge Bracket Investment Banking Offer: How to Make the Leap

By: M&I - Brian

M&I - Brian — Wed, 02 Oct 2019 19:07:15 +0000

So, this interview is ancient – it was published in 2010, and it’s based on a story that happened in the 2008-2009 period. Some things haven’t changed (networking tactics, how to get referrals, etc.), but the market today is far more competitive, and this kind of story is less likely to happen.

For a more recent/better view of how to move from PWM to IB at the last minute, please see: https://mergersandinquisitions.com/last-minute-investment-banking-recruiting/

The short version is yes, you can do it, but it’s very difficult and you’re unlikely to end up at a BB bank these days.

By: Guest 123

Guest 123 — Wed, 02 Oct 2019 01:14:41 +0000

Hi Brian, great insight.

Do you think I would able to go from Goldman Sachs PWM internship during junior year summer to BB IB full time?

That’s the path I am currently on and I would love to hear your opinion/thoughts.

By: M&I - Brian

M&I - Brian — Fri, 09 Feb 2018 19:33:58 +0000

In reply to CC. Yes and yes (think about an MSF if you cannot get one of the other roles). I would not recommend an MBA quite yet, as you've been working for less than a year.

By: CC

CC — Wed, 07 Feb 2018 23:00:46 +0000

In reply to M&I – Brian.

Thanks for the advice!
So you would recommend applying to independent valuation firms or Big 4 transaction services, then trying to get an IB analyst role from there? And if I can’t get a independent valuation or Big 4 transaction job, then going for a master’s in finance? Or did you mean get a masters in finance while working at independent valuation/Big 4, then apply to IB jobs?
Do you think it would be a safer bet to just go for the MBA?

By: M&I - Brian

M&I - Brian — Wed, 07 Feb 2018 00:23:00 +0000

In reply to CC. You're not going to get an internship if you're already working full-time. Your best bet is to move to something that's closer to IB, such as an independent valuation firm, Big 4 transaction services, or anything else that involves valuation and working on deals, and then move over from there. You may have to use a Master's in Finance degree as well. An MBA is premature unless you've already spent 1-2 years on this goal and come up short.

By: CC

CC — Sun, 04 Feb 2018 00:36:01 +0000

Hey, Brian. I have been trying to figure out the best way for me to break into IB. I went to a non-target school, never did an IB internship, graduated last may, and just started in wealth management. I’ve still been applying to IB internships at the hope of possibly getting an offer. I moved on from screening to a first interview in two of the internships, but I haven’t heard back from either (I had my interviews in December, so I assume I was not selected). Although, I do not know the time frame for interviewing. I am trying to figure out the most prudent path forward for me, so I thought maybe you could offer some advice.
I see it as unlikely to be hired for an internship when I am no longer in my undergrad, but I could be wrong? If it is possible, and this is the best path, what would be the best way to work toward that, so I can land an internship next summer (or sooner if possible)?
I have also considered trying to get an MBA in order to break in, but, from what I’ve read, that only helps if you already have prior IB/PE experience.
I am dead set on doing whatever I can to try and break into banking, so, what would you recommend I do going forward? Any advice is greatly appreciated!

By: Ops

Ops — Tue, 01 Sep 2015 03:04:16 +0000

Hey Brian,

Thank you running such a useful site. I have a question relating to work experience. When you talk about “non-banking” or “non-finance” experience in your articles, is there a “ranking” for whats the most useful for getting an I-banking job? For example, would a “blue-collar” operations internship at a F500 be viewed as lesser when compared to PWM or AM? What about compared to anything “white-collar”, like marketing or business development? Anything I could do to leverage the blue-collar experience for junior summer recruiting? Should I give up on BBs? Thanks again for providing such a helpful resource.

By: M&I - Nicole

M&I - Nicole — Sun, 28 Jun 2015 00:41:20 +0000

In reply to shanice gibbs. I'd do very well and try to land an offer from the top firm. I don't think you'll face too many issues; just speak with HR re. your early graduation date and I'm sure they can accommodate.

By: shanice gibbs

shanice gibbs — Sat, 27 Jun 2015 00:28:58 +0000

Hey! I am currently doing a paid wealth management internship for a top firm. My last internship was at a venture capital firm in NYC. I go to a non target school in Ohio and was wondering how I could leverage my experiences and what is the best way to set up interviews to get into an analyst position! Also, I will be graduating in January 2017 instead of the summer time, so what issues do you think I may face because of this?

Thanks!

By: M&I - Nicole

M&I - Nicole — Sat, 21 Feb 2015 02:19:29 +0000

In reply to Elliot. I'd network a lot internally though it can be challenging if you don't have the work experience. I'd also connect with people via LinkedIn over the summer and network in person if you can.