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26 Dec 2012, 14:39
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I'm just trying to get an understanding of what the prerequisite jobs after getting an MBA for investment banking are. For example: to be a manager at a grocery store one could say the general format is: Bagger -> Checker -> Business Center Worker -> Customer Service Manager -> Lead Customer Service Manager.
Is there a similar format in investment banking?
To me, it seems to go like:
Analyst -> More Experienced Analyst -> Associate -> More experienced associate -> Investment Banker
I may have oversimplified or have the completely wrong idea about how this works. Can anyone clear it up for me?
Is there a similar format in investment banking?
To me, it seems to go like:
Analyst -> More Experienced Analyst -> Associate -> More experienced associate -> Investment Banker
I may have oversimplified or have the completely wrong idea about how this works. Can anyone clear it up for me?
hamm0
Joined: 31 Oct 2011
Last visit: 31 Mar 2015
Posts: 474
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Given Kudos: 57
Schools: Johnson '16 (M)
GMAT 1: 690 Q45 V40
WE:Asset Management (Mutual Funds and Brokerage)
26 Dec 2012, 20:04
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Typical Path goes Analyst -> Associate -> VP -> MD -> ???*
Most analysts do not matriculate to associate, often leaving for PE, VC, HF, or business school. Business school grads will enter @ Associate level.
As far as someone making it to "investment banker", well.. that isn't a position, but rather a career. I.e. a PWC auditor is an accountant, but will never have the title accountant
wetfeet has great career guides, FYI.
*Some firms have a more elongated structure with senior VP, etc. thrown in.
Most analysts do not matriculate to associate, often leaving for PE, VC, HF, or business school. Business school grads will enter @ Associate level.
As far as someone making it to "investment banker", well.. that isn't a position, but rather a career. I.e. a PWC auditor is an accountant, but will never have the title accountant
wetfeet has great career guides, FYI.
*Some firms have a more elongated structure with senior VP, etc. thrown in.
26 Dec 2012, 22:36
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If you are asking about which pre-MBA qualifications is ideal for a post-MBA investment banking career:
Well obviously investment banking (IB) analyst or private equity (PE) experience is ideal, but I know many people who have switched from strategy consulting, corporate finance, and other finance fields to IB or PE associate after their MBA. If you don't have pre-MBA IB or PE experience, then you should keep up with global business, economic, and capital market landscapes as best you can on your own. Keeping up to date and having adequate knowledge of those three things is essential to performing well in your interviews.
Some great resources that you should often read and utilize are the Financial Times, Wall Street Journal, Bloomberg, and CNBC for daily and real time news, and The Economist and Bloomberg Businessweek magazines for weekly editorial analysis.
Taking and passing the CFA exams, or at least CFA Level I, also usually helps greatly for your industry switch.
Well obviously investment banking (IB) analyst or private equity (PE) experience is ideal, but I know many people who have switched from strategy consulting, corporate finance, and other finance fields to IB or PE associate after their MBA. If you don't have pre-MBA IB or PE experience, then you should keep up with global business, economic, and capital market landscapes as best you can on your own. Keeping up to date and having adequate knowledge of those three things is essential to performing well in your interviews.
Some great resources that you should often read and utilize are the Financial Times, Wall Street Journal, Bloomberg, and CNBC for daily and real time news, and The Economist and Bloomberg Businessweek magazines for weekly editorial analysis.
Taking and passing the CFA exams, or at least CFA Level I, also usually helps greatly for your industry switch.
