Some readers asked me if their previous retail banking or non banking finance experience will be counted when they apply for an IB job. You might be interested to know what senior bankers did when they started their investment banking career. Let me tell you some real samples. Please note these candidates are currently working for international bulge brackets.
Current role: Head of Asia Equities
First job: Reinsurance Analyst/Broker (2 years)
Total years of experience: 17
BA
Current role: Head of Credit, Asia Pacific; double-hatting CAO
First job: Associate, Syndication and Capital Markets (4 years)
Total years of experience: 28
MBA, BSc
Current role: Managing Director, Asset Management Division
First job: Executive Trainee/Customer Accounts Manager, branch deposit accounts (3 years)
Total years of experience: 26
MBA, BA
Current role: Quantitative Analyst, Hedge Fund Division
First job: Research Assistant, Centre for Fin. Eng., XXX University (1 year)
Year of work: 10
MSc, CFA
Do I Need an MBA or CFA?
Some readers asked me if they should go for an MBA or CFA in order to start an investment banking career or get a promotion. Answer is: it is good to have one, but it is not a must. As I mentioned before, a basic university degree (in any discipline) is good enough for you to start a banking career. In some cases, a country head or a regional head had only one bachelor’s degree. I even met a CEO without completing any formal education and left school at the age of 16. Of course these are rare cases, but if you can prove your capability, you are on the road towards success.
Learn to write cover letters in an appropriate tone with persuasive power from Jimmy Sweeney's Amazing Cover Letters
Investment Banking Career
5 comments:
Hi Anna
What IBs place more value? A junior corporate finance working experience or a senior general management experience without finance experience?
thanks
Jun
It depends. Generally I would say junior corporate finance. If they are smart, IBs are happy to train them up. For the gm people, it depends how senior they are and what specialties they have.
Hi Anna
It is worth to pursui a CFA to gain access to IBs?
thanks
Jun
CFA is not a prerequisite. But it is good to have it in the long term.
Post a Comment