Investment bank analyst at 29-30

Career Opportunities & Internships
1

Hi guys I am currently 25 years old. I plan to double in finance and marketing and will most likely graduate when I’m 29-30 (late I know). Here are some questions I have in regards to investment banking…

  1. When should I apply for summer internship? (sophomore, junior, senior…etc)
  2. What is the best way to acquire an internship?
  3. Will my age influence their decision of hiring me?
  4. What other industries should I get into that is more lucrative than investment banking with a finance and marketing major
    Thanks!
2

I hate to be a downer, but yes, your age probably precludes you from getting an entry-level job in investment banking.

Quite simply, IB is a conservative industry that rarely ventures outside of it’s typical mold in the recruiting process. There are a couple of reasons for this. For one, IB is extremely hierarchical and people will be very skeptical of hiring a junior that is several years older than the rest of the junior/mid-level managers. Second, IB analysts are expected to essentially give up their lives (80+ hours a week) for a couple of years in exchange for compensation and advancement opportunities. You’ll have a hard time convincing them that you’re truly willing to do this at 30 years old.

Also, not sure what school you’re attending, but most banks are pretty particular about which schools they recruit from (continuing the theme of conservatism). If you don’t go to one of the “right” schools, you’ll have a hard time getting an interview, let alone a job.

If you’re really set on getting a job in IB, I would focus on your efforts on networking with boutique firms in non-finance center cities (basically everywhere except NY and SF). These firms will be less attached to the “traditional” path, but it will likely still be an uphill battle.

Traditionally, internships are given to rising seniors (to convert them to full time post graduation), but smaller firms like the ones I mentioned above will also hire sophomores occasionally. I would focus your efforts on getting your hands on any kind of relevant experience you can find. If you’re looking for a place to start, I’d suggest Private Wealth Management offices – they’re everywhere and you can learn the basics of finance in a practical setting.

As a backup, I would suggest considering paths in wealth management (as I mentioned above) or in more traditional corporate finance roles (entry-level positions are commonly called financial leadership development programs).

Good luck!

Source: I worked in IB at a top firm.

P.S. Check out Wall Street Oasis (google it) – it’s a forum like this, but it’s focused on finance careers, so it has a lot more useful information for this topic than CC.

3

Yeah, I was going to say you should ask this question on Wall Street Oasis.

Here’s the thing: How would they know how old he is? @rkw0211 If he goes to a target school and applies for internships with all the other students, how would the interviewers know his age? You don’t put it on your resume. You don’t fill out forms with your personal info until after you get the job, right? My D applies for internships this year (got one), and nobody knew how old she was. They just knew what year she was in school.

4

@brantly Unless OP actively tries to conceal their age, it will be pretty obvious, even on the resume. Dead giveaway will be the difference between high school and college graduation, as well as any older work experience.

As for the interview, from looks alone it will probably be pretty obvious that OP is not 20. If not, again, it will be hard to conceal the age gap in the “tell me about yourself” questions.

5

I’ve never seen HS graduation date on a resume, unless it’s a “special” HS like a prestigious boarding school or Stuyvesant HS, or something similar. If he wants to conceal his age, he can create his resume just like every other “typical” college student. Just include employment and activities from freshman year of college onward. My D’s undergrad business school tells them not to include anything from before college.

I would treat this the same way as anyone who wants to avoid age discrimination. Don’t lie, but don’t make your age obvious. If the interviewer says tell me about yourself, nobody tells their entire life story. They just tell highlights that emphasize what they want the interviewer to know. If the interviewer specifically asks, “Did you go to college immediately after HS graduation?,” obviously he has to answer truthfully. But what interviewer ever asks that?

6

Honestly? Yes, you will be precluded. Best to focus elsewhere.

7

Thanks for the awesome honest reply rwk0211. Now that I know this I will pursue a different career path. I wanted to go into IB because the workload would be a great experience. The end goal for me is to get into a top MBA program. With this in mind, what kind of work experience would you recommend for my situation? I’ve just joined Wallstreet Oasis.