Does Age Matter for Investment Banking?
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- เผยแพร่เมื่อ 4 ธ.ค. 2020
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Hi All - As announced in this video (bit.ly/3eduRGS) I’ve launched a Career Consulting / Life Chatting “Service” where I’m meeting people virtually for 30 minute sessions. I’m continuing to make videos and answering every question I can in the comments as always and live streaming every Wednesday at 10pm EST, but this is a good opportunity if you’re in need of individually catered advice. If you’re interested, please fill out this form forms.gle/LRdnvX7inZWYoBrj7 Looking forward to hearing from you!
“Age is just a number” got worried for a second there, Brian.
Thanks for another great video Bryan! I want to break into the banking industry but I was worried because I'm older than most of my classmates. This video definitely made clear how I should approach towards my goal. Once again thank you !
Best of luck!
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I’ve managed to get a teaching job I really enjoy while applying for investment banking. I am 22 and I see myself working at that job for at least two years until I am 24. And honestly, I came to realize that investment banking is not for me as I was kinda peer pressured into applying along with my other peers in finance and didn’t want to be the outlier.
I hope to see videos of more and more of your investment banking journey and how you cope with difficulties and challenges along the way.
Keep it up Bryan!!!
great insight, it's always important to be introspective
Love your channel, Bryan! I'm currently pursuing a second undergrad degree in economics. Previously, I had 2 other degrees (a BFA in visual arts and a MA in international affairs). I've also been working at a nonprofit for the past 3 years (doing school part-time). The reason I went back to school is to change my career trajectory (getting into investment banking). I’m wondering if you have any advice/thoughts/or suggestions regarding my circumstance. Do you suggest exploring the summer analyst route or applying to early-career jobs directly?
woah never heard someone get a second undergrad degree before I think the summer analyst is your best bet if you're still a sophomore
And you almost finished middle school 10 years ago when you turn 24. damm, time flies gotta try planning ahead and thinking about the future.
Fax
Hey Brian! What are the upsides for an associate to do an Mba, who ranked up as an undergrad analyst??
Great video Bryan 💯
Thank you!
Can we work part-time in an investment bank during university?
is it okay if I am 26 with IFRS Consultant, and ex auditor in Big 4 can apply Investment banking?
I was looking for catchy titles for my next video (because click bait is a mf) then I found this dope channel. Just subbed.
Nice!
I don't feel the age matters, but where you are in your studies definitely matters. Also, as you get older you might not be as comfortable sacrificing your 20s
This is facts
Hey Bryan sorry for the late question considering you posted this video almost a year ago, but would they waive me if I was in the military for theist 4 years? I did 2 years of school while in the military and now I am about to get out at the age of 24. Would this be problematic for my future in investment banking?
I'd recommend an MBA
I’m from a third world country, delayed by the pandemic, it’ll take me 26 y to enter as analyst. Do I have a chance ?
I am 33 now and I am expecting interviews from some financial institutions. Is it too early to start as an analyst in Investment Banking?
I'd say being an analyst may be hard but associate is definitely possible
You've often talked about why people go from IB to PE and hedge funds, but why do some people go from PE/hedge funds back to IB?
Mostly because of lack of upwards mobility / their personal thesis around over saturation of the buyside and potential higher earnings in the long run in advisory
I’m getting out of the marines soon, how do investment banks view veterans? My mos isn’t finance related. I’m a rifleman and I’m leaving as a corporal rifle team leader , transferring to NYU for my junior year
I was an 0311 on Lejeune- Semper Fi. Got out the Corps in 2010. Looking at IB, but I'm in my early 30s now. Once I graduate with my B.A. in finance I may go a different route. Likely credit or budget analyst. I'd just say go for it and network! Congrats to getting out with a fresh start- wish I did the same.
@@josephthecreator Rah, it’s never to late to start. Best wishes in your endeavors!
Hey i was an 0331 and hope to transfer to a target as well. Based on my research the veteran network is really strong. A lot of officers go into IB. Did you get accepted into NYU yet?
@@NYRalltheway14 not yet, I’m doing online at a community college but im starting the second semester of my sophomore year I’m putting in my transfer application for the fall semester, I have a lot of letters of recommendations from my co and my XO is an alumni and he’s writing me one too, I have a 30 act and a 3.8 gpa so I feel like I have a good shot of getting in
@@eduardosandoval460 Yeah you should be set man. My Xo wrote me a great letter of rec as well but my ACT was only a 28. I’m starting school in the spring at a non-target state school and hope to transfer to NYU or Columbia. The network is certainly in place though. I’m sure you were a solid dude in the fleet and if we present ourselves as such to vets in MD/VP positions I think we’ll have a shot at breaking in. Especially if we can transfer to a target. Small world though. Good luck man!
Recently got a BO offer from a BB firm, i think its already the highest level i could achieve considering my current background. But my heart tells me I should gun for an IBD role. Considering Masters in Finance or just taking multiple placement internships, or maybe network my way during my BO internship period, which one has the highest chance? btw I wonder if master in finance students apply for summer internships or just directly graduate programs?
I'd say getting an mba has the highest chance is IBD is truly your goal
Very interesting take on the industry and relativity it has with your age...:Thumbs Up:...
thanks!
I’m starting an analyst program in SF this summer. Any tips for getting a return offer if we’re on WFH?
make sure to be communicative and let them know you're working as it's hard to visualize without just walking by your cube / show initiative
@@TheBryanJun Thanks! That makes sense.
If anyone’s interested in a crazy exception they should watch the movie “The Pursuit of Happyness”
amazing movie
Hello i am working as IB analyst in a boutique firm in india i am cfa lvl 2 clear candidiate i will be going for an mba from a top collage in india and probably will land up a job in investment banking in a bulge bracket firm. I will be 30 when i will be passing my mba is 30 fine to start as a analyst or associate in a bulge bracket ib firm?
I m 24 I m doing my undergrad in civil engineering (3rd yr ) .. I would like to go into investment banking .. after my undergrad .. is it possible for me to enter the investment banking sector .
My thesis is your major doesn't really matter but do note that a junior summer internship is almost a requirement nowadays - I'd consider other finance opps or an MBA as possible gateways
Hey Bryan,
Thanks for the amazing videos
I am 23 now and I dont have any internships nor any expirience to put up on my CV,but I have good grades.I graduated in '2019' and it has been 2 years.I know it is late but can I still break into IB if i get into a top tier Masters in Finance program.Kindly note that even If I do I will be 25 when I graduate cuz applications for this year are closed.Also graduating with Msc Finance gets you into an Analyst role or an Associate role ?
Looking forward to your response
When should you get an MBA for investment banking or do you need one at all?
if you're already in banking and want a break / your bank requires it for promotion / you think it'll help you get another job
Hey Brian. I just hit my 3rd year as an analyst at my firm. I have been offered an promotion to an associate. Do you think I should accept the offer or should I move to a private equity firm??
I think there's pros and cons of both - IB is definitely the more "stable" route in relativity given slightly more room upwards, advisory is always a safer bet than actual investing in the long run etc., but going to PE would give you a refreshed start in a relatively "different" field and infinitely more upside if you're thinking about money
you should react to the show “industry”
Harper is horrible at acting. Shoe is overrated. Very cheesy.
@@petecompiano9408 oh ok, thank you
Hi Brian!!!
Starting my university at 24 in BA in Economics and computer science will be 28 on graduation. Have experience in working at sales with Louis Vuitton and Kenzo. Any chance for IB ? Too old ?
similar background for me as well, how did it turn out for you?
ill be 21 by the time I start university, do I have a chance at getting into investment banking?
Yes, they don't really know your age, just what level you are at in university. They will treat all sophomores the same, maybe not if you look noticeably older but 3 years is fine.
yup!
I will be 34 by the time I get an MBA. Now is that too late?
No don't think that's late at all
Can you transition from Procurement/Supply Chain to Investment banking?
I personally know of one person that's done that through an mba
@@TheBryanJun weirdly I see a lot of Procurment ppl going into Corp banking and wealth management. Perhaps because RFP deals are similar to client pitch books. Pricing analysis and what not.
Good intro lol
thanks hahaha
Is it possible to be an investment Banker at age 38 with a master degree..?
probably hard tbh
Just sent my application to JP Morgan and I am only 14 but my passion to finance and IT is really high and actually I predicted the crash of crypto but didn't have cash to short it. Lol
i hope this is a joke
@@TheBryanJun no real
@@Sam.observe play sports mate you are too early
Fewer people will go into ibanking careers in the future now that more and more buyside firms are willing to recruit straight out of undergrad...that culture of having to have 2 years of ibanking experience to get into PE is quickly being eroded...and unless you want to stay in banking as a long term career, doing an MBA and pursuing an ibanking associate role is not a great move...you'd have a slim to no chance of getting into PE without having pre-MBA PE experience. However, keep in mind that the salary potential in ibanking can match or even beat PE, especially non mega fund PE, and you have a better chance of making it to the top in banking vs PE where it's much more difficult because there are fewer openings at that level.
I do know a guy who started off in Accounting and then after 3 year did his MBA from an Ivy, started in ibanking at a boutique, got into the private equity group at a Fortune 100 company, and eventually got hired at an actual PE firm as a VP when he was 35...for comparison, someone who went straight into banking out of undergrad could become VP at a PE firm by age 28. Obv, this guy was willing to play the long game and be patient...others might have just given up and opted to do corporate development at some large company. And I would not blame them because obv when you already in your 30's, waiting around for a PE role that might never come isnt realistic for everyone.
I know another guy who did ibanking out of undergrad, cudnt get a PE offer so did Corp Dev, then Wharton MBA, only to go back to ibanking (different bank this time) as an Associate and then after 2 years was back to his old firm in Corp Dev albeit as a VP...I'm assuming his goal was to get into PE post MBA but because he didnt have any pre MBA PE experience he cudnt land it. Unfortunately, an MBA even from a top school doesnt guarantee anything especially because your pre MBA experience does play role in what you can realistically achieve afterwards.
That being said, I do think when people get into careers later than the norm, they often end up lasting longer than those who got in very early and at some point realize they actually want to do something else entirely. I know quite a few PE associates in their mid 20's who decided to leave their firms this year to pursue other careers. And many opted for MBAs because some top schools including NYU and Wharton waived GMAT requirements.
You listed some great points but how about getting into hedge funds with an mba is that much easier then landing a pe job?
great points
@@eddierosario1537 I only know 1 person who got into a hedge fund and that was after doing 2 years of ibanking post undergrad, so I can't give you much insight there. However because hedge funds dont have the same formal career track and hierarchy that PE funds do, I think someone with the skillset would always have a shot at getting into a hedge fund or some other trading group regardless of their background...although they might have to start off at a less prestigious shop and build a track record in order to move around.
An MBA definitely isnt a requirement to get into a hedge fund and they do hire straught out of undergrad. I think it would be more important if you are coming from some other background than finance to start trading on your own, even with a demo account and not real money, and build out a portfolio which you can show during an interview and explain why you made certain trades, what was your thought process, have a deep understanding of some industries (ie. Tech, Healthcare, Financial Services, Oil and Gas), and also broad knowledge of the overall macro economic environment.
@@tintocherian7715 thank you for the reply! I did here rumors that the hedge fund industry just isn’t the same anymore and their isn’t much job stability in hedge funds
@@eddierosario1537 Kids who aspired to go to Wall Street post 2008 didnt realize that the era where you could spend a decade or so as a trader and retire with 8 figures in the bank is long gone. Whether it's buy side or sell side, it's all career track now and very few are happy with the compensation. And on the buy side especially most shops are quite lean nowadays, particularly at the partner level, so for people starting off at the bottom the reality is that once they get to a certain point, the only option is to strike out on their own or get pushed out.
Personally, I know multiple guys who left their roles in PE this year and opted to pursue MBAs since they were able to avoid taking the GMAT. A few might try to go back to PE in a post MBA role, but most are looking to pivot into Strategy/Operations, Venture Capital, or Entrepreneurship.
How old are u ? 🤓
23
Long winded