Honest Answer to Am I TOO LATE for Investment Banking?

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Am i too late i’ve been offering career consulting services centered around mostly investment banking for college students and some non-college students for the past two months and the number one question i get by far probably asked by almost every single person that i consult is am i too late to start banking recruiting am i too late to get a job for investment

Banking am i screwed given blah blah blah conditions specifications circumstances so in an effort to save you time and money for you to not sign up for these services if these are your questions here are my most honest brutal thoughts on the question am i too late based on your timing circumstances do note obviously that these are generalities without any

Specific specifications and i do get a lot of questions of hey brian i am this person at this age at this school in this country with this level experience speaking this language knowing how to do this and every case is different but in this video i really want to answer the question am i too late based on the stage slash grade slash age that one is in life and

How it pertains to investment banking recruitment so if you have that question watch this video and then reconsider either asking that question or signing up for my service because i don’t want to waste your time or money by answering the same question again and again again to begin if you’re in middle school or in high school you are not late for investment banking

Recruiting i’m not really sure how to make that very clear and perhaps i’m already of a later generation and i just simply don’t understand but i don’t really think there’s much you can do before you enter college to get ahead invest some banking recruiting aside from maybe being born into an investment banking family or having parents that have invested in banking

Connections neither of which you probably have the ability to control unless you can control parents that you’re born into if you’re middle school high school you are not late let’s say you’re a missed college application this actually i think kind of matters and let’s say you are a high school student who is a senior that has already done everything is choosing

Between schools and you ask am i too late for investment banking recruitment no you’re still not too late and if you’re dead set on going into investment banking and you have choices between what is known as a target school and what is not obviously the choice of a target school is better than not but the recommendation that i typically side with is if you’re

17 or 18 making college decisions it’s probably too early for you to make career decisions i think you should choose the school that makes the most sense for you not only in terms of banking but just as a whole what school will amplify your career ability or career flexibility and typically in my view the schools that will allow you to pursue investment banking

Will allow you to also pursue other jobs as well banking is not the only route to success making is not the only career out there and if i were you i would like to not invest all my eggs in one basket i don’t know if that’s the right saying but essentially i wouldn’t want to choose the fate of my career career path based on my 17 year old premature understanding

That i want to do banking based off youtube videos like the ones that i upload and have this false perception that banking is the best thing ever and therefore i need to choose a school that heightens my ability to get into banking because what if you go to school and you realize you don’t like banking and you want to become a philosopher but again if you’re high

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School senior trying to think about school choice you are still not too late you are a college freshman you are not too late when i was a college freshman i didn’t know what investment banking was the summer after my college freshman year i worked for a e-commerce business that sold technology stuff on amazon and other direct-to-consumer methodologies which has

Zero to nothing to do about investment banking it was professional experience i was something to put on my resume i kind of worked in google sheets but it had nothing to do with banking if you’re a freshman in college and you want to do investment banking you are not too late and this is the last time i’m going to reiterate this again but obviously there are a

Lot of specifications that have to do with you the school you’re at your ability to talk and network and your general understanding about investment banking but just timing wise if you’re a freshman in college you’re not too late i would recommend you start networking you start understanding what banking is as a whole and get ahead of yourself because a lot of

People your age your grade your circumstances are probably still not really thinking about banking and if they are then they are doing the things that i just mentioned if you’re a sophomore in college pursuing investment banking you are not too late actually you’re at right about the time where you should start recruiting and there are opportunities coming your

Way to get you a summer internship for junior year i’m not really sure why banks do this now and they hire kids who are a year and a year and a half into college and tell them to sign up for a career that kind of determines the first two years out of their college so you are deciding the next you are deciding the next four years of your life including the summer

Internship and the ease that you get from having that thing locked in a year or two after becoming an illegal adult i guess they just want to take the best of talent first even though i don’t know how they can evaluate the best of talent when you’re barely a talent yourself not to get away from the main point if you’re a sophomore in college you’re not too late

Hopefully if you’re already interested in investment banking you’ve been networking you know what companies you want to apply to you know what resources your college has if you haven’t been interested yet it’s not too late to ramp up on networking and start prepping for technicals and start applying and gaining your college resources and perhaps talking to others

About that opportunity if you’re near the end of sophomore year of college then you could go and attempt the fall of junior year opportunities and sometimes even end of junior year opportunities that come for those post-junior internships for banking what’s important is getting a banking junior year internship so the summer after your junior year you probably

Want a summer analyst position for an investment bank that raises and if anything locks down your chances of doing investment banking full-time post college if you’re a junior in college and you want to pursue investment banking you’re still kind of not too late you might be late for some of the banks to do super early recruiting and they’ve already completed

Their summer analyst class for the upcoming summer the year prior so some of your friends that you hear about on linkedin that want to thank their entire family and all their friend base for their acceptance into this prestigious summer annals program for the upcoming summer and they posted that when they were a sophomore you’re late for that because they’ve

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Already completed all their recruitment but there are plenty of banks that are smaller or have different strategic motivations or they respect the fact that you might not know what you want to do when you’re 19. they wait a year for you and they have recruitment cycles recruiting cycles during junior year that you could partake in and hopefully by now you’ve kind

Of established that you wanted to banking you’ve done the networking you’ve done the technical prepping and if you haven’t you still can get ramped up to it and i think hopefully respectable firms value the fact that you might not have realized that you wanted to banking until now and you’re taking junior year to really understand it network gain the ability to

Recruit and jump yourself into the recruiting cycle i guess here starts hitting the harsh reality that you might not want to hear you might not want to accept or you might need someone to tell you but if you’re a senior and you have not completed a summer internship at an investment bank and you want to become an incoming investment banking analyst at blank on

Linkedin then it’s probably kind of too late statistically speaking most investment banks at least in my understanding unless the system has drastically changed like to directly hire out of their summer analyst pool or lateral recruit other people that have done internships at other summer analyst programs and hired them instead most of my peers including myself

And all the people that i know personally that have done investment banking right out of college did an investment banking analyst program during the summer post junior year previous to senior year and accepted a full-time offer or use that offer to go to a different bank so the direct answer that i have is if you’re a senior and you’ve not done any investment

Banking the summer prior it’s probably hard to get investment banking right out of college i’m not really sure if there’s a way to beat around the bush on that that’s just the way that investment banks hire unfortunately i will say i’m sure if you have some level a different type of financial experience let’s say your buy design experience and you somehow got

Into a very prestigious buy side program that’s a private equity internship or even a venture capital internship a fund-a-funds internship the summer before during junior year you could definitely spend that and go to the sell side i would assume some of those programs actually have direct full-time offers and i don’t know why you would not accept that if you’re

Interested in that area and go into banking instead but outside of those small unique cases unless you had a junior year internship in investment banking i have personally never seen a case where people were able to get a post senior year right out of college analyst program full-time gig so my short-term summary for if you are one of those people that is a senior

That has not done a junior internship you are too late if you’re a post-grad or you’re nearing the end of senior year and you don’t have a full-time gig at an investment bank and you didn’t complete a summer analyst gig at an investment bank you’re also probably too late for very similar reasons and if not for worse more severe reasons and you might want to start

Looking for other jobs that’s really all i have to say about that i’m not really sure if there’s a way around that unless you have some kind of relationship or you could really prove yourself or you have some side projects that you’ve been working on that somehow relate to investment banking which is kind of hard considering that it also makes a lot of times

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Revolve around relationships and large size deals and capital raises that require a team it’s not like software engineering or engineering as a whole and even something like law and medical where you can have a one-on-one shadowing experience or a single person driven project it really requires an organization so i think it’s really hard to spend something like

That unless you have real program summer analyst experience the summer before as i leave the college phase of this video and widen to the adult phase if you’re a couple years out of college or a lot of years out of college obviously it’s hard to become an analyst because most analysts are those direct hires out of college direct hires from some analyst programs

There’s age dynamics involved just the barrier to entry depending on target school stuff the way that firms just behave recruiting wise it is probably too late but you now have a chance at something called an mba that requires four to six or even more years of experience in the professional field you take the gmat you fill out an application they sometimes the

Gre now make a nice little essay and it provides you a new start a new network that can wipe clean slash build on the things that you’ve already built about your undergrad about your work experience but give you that new name of hbs or kellogg or darden or or sloan sorry to the ones that i didn’t mention having that new mba program under your belt allows you to

Have a new network firms hired directly these mba associates for investment banking programs and now you have a new chance so in a way i guess to reiterate slash cancel out what i’ve said about the previous categories you’re technically not too late because you will always have a chance if you are really backed against investment banking you can always use the

Mba loophole reset i don’t think i’ve had many people beyond that i don’t think i’ve ever had anyone that was and post mba grad asked me if it’s too late tonight’s investment making because they probably use that mba degree to do something cooler or already investment banking and they’re thinking about pivoting if you’re 30 40 50 and you’re a pretty senior position

In a different kind of role you can probably use that industry experience to jump into becoming an md that’s more relationship and partnership based as opposed to finance based at the end of the day the partner level md rule in investment banks is a lot more of a sales role than an analytical role i’ve seen a few cases of those that have served ceo positions at

Industry-based real companies and then jump over to the banking side as a partner and do deal after deal after deal without knowing that much about finance it’s definitely possible so my one sentence summary of today’s video is just start networking when you’re in kindergarten and you will be guaranteed an investment banking job i hope this video cleared up some

Of the questions and provide pretty simple answers for whether i think for whatever circumstances you’re in mostly based on age and timing are you too late to join investment banking i hope i wasn’t hurting anyone’s feelings this is just based on my understanding what i’ve witnessed around me for myself for people of various ages as always thank you guys so much

For watching and i’ll see you guys next time let’s go

Transcribed from video
Honest Answer to "Am I TOO LATE for Investment Banking?" By Bryan Jun