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post #46 of 49
Quote:
Originally Posted by Lord-Barrington View Post
Laterally within a BB is one of the biggest mirages ever. For every one guy that succesfully laterals from an ops role to a banking role there are literally hundreds who try and fail. Furthermore, "middle office" work like risk analysis and structuring is probably out of this guy's range right now as well and the middle office is where most transfers happen from. The guy who goes from IT support to IB at GS is a freakin' miracle worker.
Wrong and GS is not the only bank on the street. Some roles in Risk involve pulling monthly reports from databases, scrubbing them for errors and creating reporting packages. Does not require any prior experience or skill. Usually branded as an "MIS" role. While in this role, take advantage of the tuition reimbursement policies that pretty much all banks have and acquire professional certificates. From there transfer to credit risk management and then finally look at actual IBD roles at Harris Williams or other regional lower tier banks. If he's two years out of undergrad now, he could plan for entry into a regional bank as an associate in about five years. At the very least, pursuing this path would put him in good standing for an MBA.
post #47 of 49
Just because it doesn't require previous experience or skill doesn't mean it's somehow a cakewalk to get hired. Kids from my school (which is a semi-target, and sends a rather significant number to front office banking and S&T) heading to BB firms to do middle office work often have GPA's of 3.5 and above, with pretty good resumes and extracurriculars. They also tend to hire straight out of undergrad... and banks like to be formulaic with their hiring, so being a year+ out of school causes problems. That's why doing something else entirely, and coming back as an MBA graduate is so often suggested.
post #48 of 49
Thread Starter 
Just so you guys know I did decide to opt-out of this, I did see some LinkedIn Profiles with people who did do something similar and did do internships at DalMore the partnering firm (only 1 from there, person works at AIG now) and i think its still possible that it may help, but I also think it would be much better if I do this post-MBA. Appreciate all the advice, I may be stubborn about some of it, but that is just because I try to strive for the best.
post #49 of 49
Quote:
Originally Posted by Saturdays View Post
Just so you guys know I did decide to opt-out of this, I did see some LinkedIn Profiles with people who did do something similar and did do internships at DalMore the partnering firm (only 1 from there, person works at AIG now) and i think its still possible that it may help, but I also think it would be much better if I do this post-MBA.

Appreciate all the advice, I may be stubborn about some of it, but that is just because I try to strive for the best.

i hope your avatar pic isn't you, because rather than qualifications, the thing standing in your way of IBD is a hiarcut...
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