Hi everyone,
Apologies for my first post being a request, but I wanted to see if I could glean some knowledge from some of the more senior members here, whom I've seen give a lot of very helpful advice.
I have been trying to break into investment banking for a couple of months (off-cycle) and wanted some advice.
I am a 2012 Oxford graduate (studied Politics & Economics, 2.i) with some (not famous) post graduation internships in consulting (4 months) and private equity & decent extracurriculars.
I realised I wanted to become an investment banker fairly recently, and applied to a range of off-cycle internships. I got to final rounds of two BBs after applying to 20 banks, but failed to get an offer from either (I got rejected at the screening stage from most places due to lack of work exp).
I am currently cold emailing small boutique banks in London for M&A internships and have lined up a few interviews, but my ultimate aim would be (optimistically) to work for a bulge bracket full time, or an elite advisory firm such as Lazard, Rothschild etc.
My questions are;
I) Would you say is a realistic goal for me right now?
II) If so, how ought I to go about achieving it? If not, what should I be aiming for?
III) What sorts of CV boosters might be worth pursuing? I sat my GMAT recently (760), and am taking advanced German classes (I already speak French fluently).
IV) Should I be applying to the US? I am also a US citizen and it might be easier for me to break into some of the New York banks as the climate is evidently better, but applying from the UK is obviously an extra hurdle.
Would really appreciate some replies.
Thanks
Hey Sebastian,
I am in a similar boat, having gained and interest in IB/IM quite recently. I went to the University of St Andrews studying Management and also hold as US green card. I have limited experience within the financial sector, working for a small commodities trading firm last is about the extent of my directly transferrable work. I have been to a couple BB ac's in the UK and the process was arduous; logical testing, numerical testing, stock pitch, group exercise, lunch, 3 interviews, and a group interview. I am close friends with a senior VP for the bank in the US and he encouraged me to apply there as the process is no where near as intense. Although it turned out to be too late to apply for a role within the division I wanted I took his advice and applied to some other US BB's and found the process much easier. No where near as intense as the UK assessment centres and the interviewees were much more amicable. I think a lot of this comes from the somewhat cynical culture that exists within Britain versus the US. So my advice is YES apply to US banks over UK ones.
Additionally from a growth perspective the US fundamentals are indicative of an economic recovery where as the UK is stagnant. Graduate employers in the US are taking on more applicants than in the UK so for someone with a less competitive resume you would be better to apply over there. I just got my first offer from a US bank on Friday after attending their super day which I honestly found a cinch after going through the UK process.
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