Originally Posted by Saturdays
I got accepted into this program, not sure how hard it is to get accepted. But it looks interesting, offers a 2-3 month internship and could be the kick off to a job.www.ibcareerpath.com
It is around $5,000 for the class and the internships and is located in New York.
Has anyone done something like this before (I know Anex is an alternative, have not heard back from them yet)?
I'll give you my perspective as somebody who's spent their entire career (~10 years) in M&A: I find this 'program' to be reprehensible, predatory, and an embarrassment to the industry (and this is an industry that's hard to embarrass).
As I see it, there are two components to this program - (1) the 'training'; and (2) the 'guaranteed' internship. Both are worthless, and I'll explain why.
(1) The 'Investment Banking Bootcamp' style companies came into the market around the time I started my career. The thing is, investment banking isn't hard. Most of the 'training' you're going to need is firm-specific, and you'll figure it out in your first six weeks (or you'll be fired). If you're smart enough to make it though the interview process, you'll be able to figure out how to build an LBO model. Third party training is an absolute waste.
(2) The 'internship' is embarrassing. If they were guaranteeing you an internship at GS, it'd be worth every penny of the $5K. Dalmore Group? I've never heard of them - and I've worked with a huge number of banks. Looking at their website, the firm is an outright joke. Calling it an investment bank is an insult to investment banks. It's like saying you want to be a Michelin-starred chef, but you can't break in, so you're going to PAY McDonalds to give you an internship on the fry machine. And work your way up from there.
I hate to be that guy, because I know you want to follow your dreams and be a banker - but this IS NOT THE WAY. You may never get a shot. But doing this program will, if anything, reduce your chances in the real job market. Feel free to PM me if you have any questions, but suffice to say, my opinion is that anybody stupid enough to pay for this program won't hack it in the analysts bullpen.