1st Year Associate in IBD AMA

Reply 40

username2313507

14

Do you see many people in similar positions to yourself with law degrees?

Reply 41

Roided

Original post by gr8wizard10

congrats

would you recommend heading to buy-side (PE/Credit Focused Fund) as a grad if the opportunity arises?

Would definitely recommend going to the buyside as soon as you can.

Some ppl say downside to going to PE from grad is that you dont get structured training program that you get in banks, but over course of 3 years PE should equip you will same skills bankers have its just how you actually attain those skills over time will be far more unstructured / ad-hoc, and you probably wont have as sharp modelling skills as analyst/associate bankers (since they do modelling pretty much every day).

But tbh, if you want to stay in PE/buyside this is obvs not a problem and for the typical exit opps from IBD (Corporate Development; VC; HFs; starting a business, etc) PE will give you sufficient technical skills in your first 3 years.

(edited 7 years ago)

Reply 42

username738914

21

Original post by TheGuyReturns

Must have been a troll with a known IP address I suppose... :/

He's not a troll

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Reply 43

Roided

Original post by TelAviv

Do you see many people in similar positions to yourself with law degrees?

From target unis, yes have definitely seen notable proportion of people go into IBD having Law degrees (not much in Sales, Trading and Research though as they are more mathematical).

Outside of target unis, have seen much less so with respect to people with Law degree getting into Front Office - one reason being target bias as I mentioned previously in thread, and second being obvs harder for Law students to convince interviewers they really want to do finance.

Reply 44

Roided

Original post by -Miracle

Currently working on my spring week applications for IBD - I have some prior experience in boutiques for the CV, but not much "leadership experience" per se etc., and am hoping to to become a student rep or something equivalent at Uni to use that as an example.

In your opinion is it best send my applications (well written ofc) asap and make up some example for those categories, or wait a couple of months?

Really appreciate the AMA, btw!

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Gonna defer to @Princepieman on this one, as optimal application timing for spring internships has changed significantly enough since I was in 1st year of uni that I dont have up to date knowledge on this any more.

Reply 45

username2313507

14

Original post by Roided

From target unis, yes have definitely seen notable proportion of people go into IBD having Law degrees (not much in Sales, Trading and Research though as they are more mathematical).

Outside of target unis, have seen much less so with respect to people with Law degree getting into Front Office - one reason being target bias as I mentioned previously in thread, and second being obvs harder for Law students to convince interviewers they really want to do finance.

In regards to target unis, do you find that universities that are only semi-targets for IB, but targets for law firms have a higher comparative representation?

To simplify, do IB semi-targets like Durham and Nottingham (which are law targets) have proportionally more law graduates in IB than they do for IB-related degrees?

Thanks!

Reply 46

-Miracle

9

Original post by Roided

Gonna defer to @Princepieman on this one, as optimal application timing for spring internships has changed significantly enough since I was in 1st year of uni that I dont have up to date knowledge on this any more.

Fair enough! The opening dates for applications just seem to be getting sooner and sooner yoy :biggrin:

Follow up question: If you remember, of course, how technical did you find your spring week interview(s)/assessment centers? ie go through a DCF etc., or simply a general conversation around your CV, having your motivation gauged and recent deals/world events?

Thanks!

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Reply 47

username738914

21

Original post by -Miracle

In your opinion is it best to send my applications (well written ofc) asap and make up some example for those categories, or wait a couple of months?

Really appreciate the AMA, btw!

Posted from TSR Mobile

In general, and from what I've observed of friends going through 2 rounds of SW applications, you should send everything off by September/October. GS is non-rolling so you can hold off on them until the deadline (usually December) but every other bank will be looking at applications as they come in. Interviews don't really ramp up until about later in the year, going into the next year.

I'd say if you're planning on joining anything, put it down preemptively on your CV. If it's a substantial addition, email HR to bear whatever new experience you have in mind.

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Reply 48

username738914

21

Original post by -Miracle

Fair enough! The opening dates for applications just seem to be getting sooner and sooner yoy :biggrin:

Follow up question: If you remember, of course, how technical did you find your spring week interview(s)/assessment centers? ie go through a DCF etc., or simply a general conversation around your CV, having your motivation gauged and recent deals/world events?

Thanks!

Posted from TSR Mobile

Spring weeks are mostly competency, with the bulk of the technical stuff coming in the form of conversion interviews. But, a few interviews can be weird or try to throw you off (happened to friends interviewing for MS) by getting slightly technical/delving into commercial awareness questions.

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Reply 49

makrxx

11

Thanks for doing this. Thought on Lev Fin? Is it a 'better' place to start out with the skill sets that one gets in Lev Fin?

Is it very much more technical and what kind of technical knowledge is involved?

Is I want to brush up my knowledge on credit analysis, any recommendations?

(edited 7 years ago)

Reply 50

-Miracle

9

Original post by Princepieman

Spring weeks are mostly competency, with the bulk of the technical stuff coming in the form of conversion interviews. But, a few interviews can be weird or try to throw you off (happened to friends interviewing for MS) by getting slightly technical/delving into commercial awareness questions.

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Thanks for the replies. I suppose the marginal benefit I'd get from the student rep roles for instance wouldn't outweigh a very early application.

Had a friend at GS who got asked about any valuation method he knew of and then asked to run an example of a DCF, whereas others were asked relatively trivial mental math questions. Probably not the norm for the former I guess but you can never be too prepared.

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Reply 51

Earl Campbell

3

Original post by Roided

if you want to get into IB / finance / consulting, you made the right decision. Warwick is more highly regarded by miles compared to other two unis you mentioned.

If you're at a target, course generally doesnt matter too much as long as its a respectable degree. Engineering is fine for FO IBD and S&T&R. As PPM said, you see more engineers in Tech because more of them go for that - in fact when I did my summmer internship pretty much all the engineering guys I knew at Warwick interested in finance were interning in Tech.

What would you not consider to be a respectable degree, which degrees (at Warwick for example) do you feel would be frowned upon when looking to enter the industry?

Reply 52

username738914

21

Original post by Earl Campbell

What would you not consider to be a respectable degree, which degrees (at Warwick for example) do you feel would be frowned upon when looking to enter the industry?

Really... Are you wanting him to say management? Come on dude, it doesn't matter cv reviewers have other things to look at than degree subject.

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1st Year Associate in IBD AMA

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