<p>Hello, I've been perusing these boards for a long time, but only recently had a issue to post here. I'm a finance grad from Tulane, non-target I know. 3.6 Major GPA, 3.3 Overall, also graduated with a specialization in Oil/Gas Accounting and Trading. Not shabby credentials IMO, but not bad either. Perhaps not BB quality now, but that's exactly why I'm writing today. </p>
<p>In terms of work experience, did an Internship with a US Congressman, intern for Merril, and during my senior year, did a 6mo equity analysis program through Tulane's student run fund on a small cap E&P Company. </p>
<p>Any advice on what jobs to pursue to slowly build my way up into IB? The landscape is pretty rough, so I'm currently mulling an offer as a analyst from a top tier commerical lending company, to help analyze their massive portfolio of student loans (hint hint). Is this going to help me from an IB perspective? I'm thinking about targeting a reputable boutique before too long, so is my experience going to be relevant and beneficial to my application? </p>
<p>I sit on the fence on this issue. On one hand, I can't help but feel that any experience in this market is a boon and its also a modeling heavy position, but its more on the retail side of banking, and there may not be much crossover into an analyst position at an IB. Not to mention its consumer lending and not commercial. </p>
<p>This would seem to be your in. Hopefully you made contacts?</p>
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<p>No, this will not help you at an ibank. But it will start you off in finance, and in this market, with Wharton students with 3.7’s lined up waiting, I’d really consider taking it.</p>
<p>Thanks so much for replying. On the latter point I tend to agree with you, though I may have been a bit misleading about the Merril internship. It was a branch internship for the summer, not a HQ internship. I have minimal contacts, as the branch was a 6 person operation, and in Louisiana. Not likely an avenue that can spawn too much. </p>
<p>I’m likely going to accept the position, but share your concerns going forward with IB. Will it help me to get into a boutique firm? If not, would it be smart to ride out this period of weak hiring by accepting this position and try for an intermediary position with a financial services company once hiring resumes?</p>
<p>I have a great deal of passion for IB, and I know I’m going to have to work my way up to even have a shot. I’m just curious to see what you all would do given a similar situation.</p>
<p>I’m confused. You have a great deal of passion for making pitchbooks on powerpoint at 3am? Or do you have passion for F2-ing your way through excel 9 hours everyday?</p>
<p>even the people at the branch office somehow communicate with the HQ (maybe indirectly). Ask all of them if they know anyone at HQ or any other office. you can definitely network your way through.</p>
<p>however, your credentials seem a little too low for ib. i mean a 3.3 from a non-target won’t convince anyone that you are brilliant, so it will be hard to get an interview. maybe try to get into a good business school and go from there.</p>
<p>Thing is, and I’ve been thinking about this a lot, the type of people who go into these jobs worked really, really hard to begin with. They’re wired that way. They got perfect grades in high school, killed themselves in undergrad, etc. They continue working that way. So even if you could get a connection, how could you honestly say that you’d work hard enough to make it in IB?</p>
<p>Everyone says they’ll work hard in the future. I’ve met literal crack heads who tell you about how they’ll get clean and become super successful. And yet they never do. </p>
<p>I’ve got a connection to work in IB (not a NY BB, but still solid) and I’m thinking of turning it down. I’m smart but I just don’t know if I can work hard enough. Part of my problem stems from dealing with chronic pain that makes me worn out faster than most. The lifestyle isn’t for everyone.</p>
<p>Thanks for everyone who responded. I’ll try and answer the questions as they were presented. I am interested in IB, despite the long hours and tedious nature of the work. I’ve already done similar work as an equity analyst so I know excel just as well as I know Jill. The hours will be something I have to get used to, but its something that everyone starting IB must go through, so I don’t feel like its a deterrent to me. I have realistic expectations about my current chances, so that’s why I’m writing. </p>
<p>As far as the Merrill contacts go, I’m not sure anyone from this branch has seen the other side of the state, much less any corporate office in Houston or NY. I think that aspect is not going to amount to much at all. As far as the prospective job goes, I’m likely going to accept. I’ll be forecasting loan losses and modeling consumer trends. Again I ask, is this going to help my chances? If not, will it help me make an intermediate step up to a regional boutique or a corp. finance position at a commercial bank? </p>
<p>My final question deals with asset management and optimization companies. Easier to get jobs in these sectors than in IB? If so, how do I stand in relative comparison to the general applicant pool? </p>
<p>I think your best bet at this point would be to start reaching out to small boutique IB shops, leveraging your accounting background and interest in the field into, ideally, an interview. The lending internship won’t help your pursuit, and the internship at Merrill will only help you if it is in IB or possibly S&T - if it is in PWM, or Ops, it won’t help much at all. Considering you have already graduated, your best bet is probably to something along the lines of boutique IB or, if not, then another interesting/analytically demanding position for a few years, couple that with some solid EC work, and then go to B School. Post B School, make the move to BB IB. Good luck </p>
<p>If you can’t get into banking, then advisory work for a Big 4, working for a Fortune 500 company in a similar position, working on the buy side (at a small P/E shop, for example), corp finance positions, etc. Positions that involve a similar skill set and are not viewed as back office functions broadly speaking.</p>