by Brian DeChesare Comments (605)

How to Break into Investment Banking as an Engineer – If You Enjoy the Punishment

Engineer to Investment Banking

I thought that engineers would stop wanting to move into finance.

After all, companies like Google and Facebook now offer higher pay, better hours, and more interesting work than banks.

And students at top universities and business schools are increasingly interested in technology rather than finance.

But despite all that, some engineers still want to get into finance.

You’ve probably landed on this article because you’re in a similar position.

I’ll explain how to do it here, but you should answer a critical question first: Are you sure you want to do this?

Why Do You Want to Do This?

Most engineers point to one of the following reasons to explain their desire to work in finance:

  • They want to make more money; they’ve hit a “ceiling” in their current role.
  • They want better advancement opportunities.
  • They want more interesting, client-facing work.
  • They want to make a bigger impact on the world at large.

These are valid reasons for wanting to do something besides engineering, but they’re not great reasons for wanting to do investment banking, specifically.

In investment banking, you advise companies on financing deals and mergers and acquisitions.

If you have no interest in advising companies on transactions, which means spending a lot of time in PowerPoint, Excel, and Word as a junior banker, you should consider other options first.

For example, if you’re bored of your current job and want to make more money:

  • Start a side business and make money from an app or simple software product.
  • Learn about the stock market and start making your own investments.
  • Become a contractor and offer coding or product management services to other companies.
  • Take the money you’ve saved up, learn about real estate, and start buying small single-family properties.

If you just want to “work in finance,” think about the other options outside of investment banking as well.

If you have deep industry knowledge (e.g., of the semiconductor industry) and you complete significant self-study, equity research might be an option.

If you want to apply your coding skills to finance, you could work in quant research, at a quant hedge fund, or in another sales & trading role.

Or if you want to invest in tech companies, venture capital is an option, though it’s actually tougher than IB in many cases.

Finally, you could also work at a tech company and move to a business or finance role there over time.

Entry Points into Banking

But if you want to ignore everything above, and you’re convinced that you need to do investment banking, there are four main entry points into the industry:

  1. As an Undergrad – This one is the easiest and cheapest way to get in, but you must decide on IB very early. Recruiting now starts so early that if you haven’t decided on IB by the middle of your second year, you probably won’t get in.
  2. As a Recent Grad – This one can also work, but your chances of moving directly from an engineering role into investment banking are almost 0%. You almost always need something finance-related first, such as a stint at a Big 4 firm or valuation firm or a Master’s in Finance degree.
  3. At the MBA Level – If you’ve been out of university for 2-3+ years, you’ll probably have to use a top MBA program to get in. But, again, your chances of going from “Engineer at Google” to “Investment Banker at Goldman Sachs” with nothing in between are almost 0%. You need a more relevant full-time role and/or a pre-MBA internship.
  4. Beyond the MBA Level – If you’re well beyond the MBA level, you have almost no chance of getting into investment banking as an Analyst, Associate, or VP. But if you reach the senior executive level at a large company, you might be able to enter IB at the top levels or move into a field like venture capital or venture debt.

The key point is simple: If you’re an engineer or technical person, you will not be able to get into IB at the last minute without prior internships or work experience.

You need a sequence of internships or other finance-related experience, regardless of your entry point.

You also need in-depth knowledge of accounting/finance, even if your degree had nothing to do with those subjects.

Bankers will be confident that you can do the math and attend to detail, but they’ll be skeptical of your social skills and ability to burn the midnight oil.

They will also be skeptical of your interest in finance: If you want to do investment banking now, why didn’t you get in earlier? Did you “get interested” a few months ago when you heard about your friend’s bonus? Or did you try to get in earlier and fail?

Telling Your Story

The same 4-point story structure applies; we’ve even made available a full template and example of how to tell your story from an engineering/technical background:

You can use these points:

  • Beginning: Where you’re from, your university, and your internships/activities. Insert a brief mention of some interest in finance at a younger age.
  • Spark: A banker you met, an internship project, or an activity or class that sparked your interest in finance.
  • Growing Interest: Networking with bankers, self-study of the technical side, stock-market investing, case competitions, etc.; also give a short example of how you can handle the hours.
  • The Future and Why You’re Here Today: You want to combine your engineering skill set with finance and advise companies on major transactions, ideally in an industry related to your field of engineering, such as TMT, industrials, or healthcare.

This same template applies for undergrads, recent grads, and MBA students because a degree doesn’t change that muchyou must be able to explain why you want to do IB without referencing your degree at all.

Networking

Networking is largely the same for engineers: You still use the alumni database, informational interviews, information sessions, and cold calls/cold emails to win interviews.

Please see the dozens of networking-related articles on this site for the tactics and strategies.

I’ll just add one point here: You should probably not focus exclusively on tech-focused banks or groups (or aerospace/defense ones, healthcare ones, etc.).

As a career changer, you already face an uphill battle to get your foot in the door.

Focusing too much on a specific industry might kill your chances prematurely, especially if you’re at a non-target university or business school.

You also shouldn’t limit yourself to one type of bank, such as regional boutiques or middle-market firms.

The recruiting process is random, and even if you think you have no chance at the bulge brackets or elite boutiques, it’s still worth reaching out and speaking with a few bankers there.

Resumes

We have many resume templates on this site, and you should refer to them to write your own.

The #1 mistake engineers make is focusing too much on the technical details and not enough on the business results. We often see bullet points such as the following:

“Inspected client’s customer support code and led migration from Linux 4.11 to Linux 4.12 by implementing support for 64-bit multi-core processors in assembly code and support for threaded processes in operating system kernel.”

You should focus on revenue generated, money saved, or time saved instead:

“Reviewed client’s customer support system and optimized processes by 20%; saved client $10,000 and 10 hours of labor per week over first year.”

And if you start writing your resume and realize that you have nothing even remotely related to investment banking, you need to re-think your plans.

You can spin technical experience all you want, but it only does so much; bankers mostly care about:

  • The reputation of your university or business school.
  • Your grades and test scores.
  • The reputations of the companies you worked at and what you did there.

If you have a 3.0 GPA from an unknown state school and all technical internships, no amount of resume spinning will get you interviews at banks.

Interviews

We have dozens of articles on interviews, including ones on “fit” questions, technical questions, telling your story, and more.

Not that much is different for engineers, but you should be aware of a few points:

  • Yes, you need in-depth knowledge of accounting, valuation, and financial modeling. IB roles are still highly competitive, and if you don’t know the technical side, bankers will assume you’re not serious about the job.

Majoring in something different is not an excuse. If you can’t learn the material independently, you don’t have the discipline and drive required to get in.

  • Yes, you still need good grades (2:1 or above in the U.K., or 3.5 or above in the U.S. – and probably closer to 4.0 if you’re at a non-target school).

“Engineering classes are harder” is a weak excuse, and bankers won’t care about your explanations. If your GPA is low, they can select from thousands of other candidates.

  • They will probe you heavily on your ability to work long hours, your social skills, and your interest in finance.

It’s best to answer these questions by citing examples of when you used these skills over extended time frames in the past.

For example, to prove that you can work long hours, tell a story about how you woke up at 5 AM, went to sports practice, attended classes, and then worked until 10 PM every day for a year.

Anyone can pull all-nighters for a week, but killing yourself for an entire year is a worthy accomplishment.

It’s tough to “prove” that you have social skills, but you can come across as sociable by talking about your hobbies and interests.

Even if you’re awkward or you get nervous speaking with people, you might be able to convey the opposite image if you talk up your activities.

What Does a Successful Engineer to Financier Look Like?

Here are two examples:

Example #1: The Undergrad

He started out majoring in aerospace engineering and did a first-year internship at Lockheed Martin.

He realized it wasn’t for him, so in his second year, he switched to an accounting/finance degree and made aerospace engineering his minor.

He also interned at a local private equity firm and began networking months in advance of third-year summer internship recruiting.

In the summer after his second year, he interned at an independent valuation firm, and he kept networking on the side to win an IB summer offer at a bulge-bracket bank for the next year.

In the summer after his third year, he completed that internship and converted it into a full-time return offer.

Example #2: The MBA

She completed an undergraduate degree in biomedical engineering and worked in R&D at an orphan drug company after graduation.

After a year, she switched into a business development/sales role, and after another year, she moved to a Big 4 firm to conduct due diligence on pharmaceutical clients.

Then, she applied and won admission to a top MBA program. Before attending, she completed a pre-MBA internship at a healthcare-focused private equity firm.

She also began networking with business school alumni months before the school term began.

When recruiting kicked off, she won interviews with the major banks and ended up accepting a summer internship offer at an elite boutique, which she later converted into a full-time return offer.

Plan B Options

If you do everything above but do not get into investment banking, the worst strategy is to give up and go back to a pure engineering role.

If you’re about to graduate, your best Plan B options are finance-related roles outside of investment banking.

For example, think about corporate finance rotational programs at tech companies, corporate banking, equity research, or a coding role at a hedge fund or trading firm.

Plan to work there for a year or two and then move into IB, perhaps using a Master’s in Finance degree along the way.

If you’re at the MBA level and did not win an investment banking offer, you could consider similar options, but it will be much harder to move into IB later on.

You might be able to take finance experience elsewhere and go to a tech-focused boutique or a small venture capital firm, but you will probably not be able to move to a large bank directly.

Finally, if you’re well beyond the MBA level, more realistic options might be joining a VC/PE firm as an operational partner or “entrepreneur in residence” or joining an equity research team that needs deep subject matter expertise in a highly technical area.

Engineer to Financier?

I made this move – computer science to tech companies to investment banking – a long time ago.

But you would not be able to follow that same path today.

You need finance-related experience and solid accounting/finance knowledge before applying for IB roles, or you won’t have a chance.

So, decide on your career change early on, or skip it altogether.

It might be “boring” to work at a big tech company and hit the pay ceiling, but you’ll have a pretty good life, and you’ll still earn more than 99% of the population.

And if you want to make more money, you can always build an app.

M&I - Brian

About the Author

Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street. In his spare time, he enjoys memorizing obscure Excel functions, editing resumes, obsessing over TV shows, traveling like a drug dealer, and defeating Sauron.

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  1. Civil dude

    Hi Brian,

    I’m about to graduate with a Bachelor’s in Civil Engineering in the coming year, but would like to work in investment banking here in Hong Kong.

    I really have no idea what I am doing though, any tips on what I should do to prepare for interviews so I at least have a fighting chance?

    Regards

    1. Please see all our articles on interviews and interview prep here: http://www.mergersandinquisitions.com/investment-banking/#recruiting

  2. Hi Brian,
    First I would like to thank you for the above article, it is very informative and very much applicable in my case. I am pursuing my B.S. in Computer Engineering and will graduate in May 2018. Over the summer of 2017 I did an internship in an IB in New York as a technology analyst (IT corporate). Where I found out that I want to work in the front office roles. Some of the employees there suggested me to pursue CFA. So, I have been looking into it since then but I am still not certain to go for CFA. What do you think about it? Will it be a good investment?

    1. If you’re graduating in less than a year, no, the CFA will not be useful, at least not if you spend hundreds of hours on it. It’s better to say you’re “studying for it,” put in a bit of time, and leave it at that so you get some of the benefit without hundreds of hours of work. At this point, you’re very late to finance recruiting, so you’ll probably have to do a Master’s in Finance program or MBA program and move into the industry from that.

      1. So what do you think about doing a Master’s in Finance and along with it preparing for CFA?

        1. The CFA is only helpful for some roles. Do a search on this site to see which ones it is useful for.

          1. Thank you Mr. Brian, I appreciate your help.

  3. Hi! I´m from sweden and I´m 16 years old. I´m very intressted in the stock market and have been buying and selling shares for a few years now. But I am aswell very intressted in technology developement. Today i read Sience at the “gymnasium” I belive that is the same thing as “upper secondary” in the US. However, I am not sure if I want to get a degree in engineering or maybe industrial economy or Bussiness.

    What would u recommend me to do?

    1. I have no idea what your question is, sorry. Maybe wait until you’re older.

  4. Hi
    I am a Chemical Engineering graduate from a prestigious university in India. I graduated with a CGPA of 8.2/10 and ranked 10th in my batch. I have had internships in companies like ExxonMobil and Schlumberger and they were not rigidly technical. Besides having technical projects, I was also associated with marketing and sales. Then I joined Reliance industries limited as a process engineer. I worked there for 10 months . On the way I had developed strong interest in finance and I also did MOOC on various areas related to IB. Presently I am working on my family business venture. I want to make a career in IB. I have applied for masters in management in the top schools of France and I am quite positive that I will get selected in one of them. I am also CFA level 1 candidate.I have a track record of working long hours specially in Reliance. How should I work from this point to grab a position in top IB firms.

      1. Thanks.. that cleared a lot of my doubts. Thus in conclusion the internships or the apprenticeship programs in the business school will be of real benefit to me.

      2. Hey
        I have some interviews coming up for the masters in management courses. I am concerned about how to answer the question “why did you leave your last job”? Since my start up is still at a very initial stage, how to justify this along with my interests for finance.

        1. Say that you became more interested in the business side and left to work on your own venture. In this venture, you’re responsible for finance and business development, which are directly relevant to your long-term career goals.

  5. Hi There,

    Let me tell you first my situation is. I have completed my B.tech in computer science from India and currently working in TCS (an Indian consultancy company) as a software developer, I am also CFA level-1 candidate right now. As i am interested in working in investment bank ,I have planned to switch after 2 years experience to top investment banks in their tech division and also wanna complete rest of the CFA levels. After this can i get into front office roles? Do you think i am on the right way? Any further suggestion will be helpful for my career.

    P.S. I am also planning to do Executive MBA from top B-schools after 5 year experience.

    Thanks. .

    1. It is really difficult to move into IB in India because of the small size of the industry relative to the population. You might have a better chance if you focus on boutique banks there, go outside the country, or maybe if you can get into one of the top two IIMs and apply from there. Please see:

      https://www.mergersandinquisitions.com/investment-banking-india/

  6. Hi Brian and Nicole,
    I graduated in May with a mechanical engineering degree. During under grad I did three engineering internships, and a year as an analyst and investment officer with our $3MM real money student investment fund (also my “spark” for IB), and currently am working interim at a law firm doing corporate legal services. On my resume and in my story I play up the analyst position and law firm experience and working with clients. I’ve taken finance/accounting courses and BIWS prep courses and am becoming confident on the technical end. I’m targeting MMs and tech boutiques by brute force cold calling / emailing, and have gotten some interviews but no offers. 1) Should I change my strategy and go for something outside of IB? I am confident and want IB, so I don’t want to give up, but I want to take the best path there. 2) How can I better position myself to get an offer?

    1. If you’ve been winning interviews, I don’t think it’s a problem with your networking approach or resume or anything like that. What has been the feedback from interviews? What’s the main reason why you are not advancing? Can you go back to any of your interviewers and ask what they think about your performance or see if they have any tips?

      It’s hard to say what to do without knowing that. If their main objection is “You’re good, but we need someone with more finance experience,” then you might have to go for something outside of IB first and use that to move in. But if they’re objecting to something else, such as your technical knowledge or interest in the industry, then you might have to change your strategy in interviews.

      In your case, it probably makes sense to focus on smaller banks because it’s incredibly difficult to go from non-finance work experience directly to a role at a large bank.

      Aside from playing up your legal and analyst experience, you can’t do too much more to position yourself more effectively.

  7. The chances of using an MBA to go directly from engineering at Google to Goldman is not 0%. I just listened to a podcast about a former U.S. infantry guy who went from military directly to banking. He didn’t even attend the elite MBA programs; he went to UCLA which is good but nowhere near a top 10 program. You can listen to the podcast on wall street Oasis.

    1. The exact language was “almost 0%,” so of course there will be exceptions and special cases. The chances of getting into one of the top 3 banks from an MBA program with no prior, relevant experience are still pretty low.

      We’ve featured military to IB stories before (and sales to IB and plenty of others). The military is a bit of a special case because it’s not viewed as “work experience” in quite the same way as other options as sales, engineering, etc.

  8. IB hopeful

    Hi Brian,
    Thanks for doing this. I come from a computer engineering background currently working in a BB in Markets technology in NY. I’ll be attending a top 15 MBA school on the east coast(think 12-13) this Fall. Post MBA I’m looking to make a shift into IB particularly in TMT. Any advice on what I can do to stand out from the competition at school esp. with people who already have the per-requisite finance background? I recently secured a pre-MBA internship for the summer in an early stage venture debt fund in India hoping do get some deal financing experience etc. and to demonstrate my interest in finance. Do you think this would help with the IB internship recruiting once I start school? Any additional advice/ recommendations that would help with my story and show my genuine interest would be greatly appreciated.

    1. Try to get a more relevant pre-MBA internship if you can… a venture debt one is fine, but something in IB/PE would be better. Beyond that, you just have to do a ton of networking long in advance… please see:

      https://www.mergersandinquisitions.com/transaction-advisory-services-to-investment-banking-mba-level/
      https://www.mergersandinquisitions.com/mba-investment-banking-recruiting/

  9. Hi there I’m currently a Chemical Engineering third year at University College London (UCL) and seek to enter a front office role in a big bulk such as GoldmanSachs, preferably S&T but I am open minded and can consider any for work experience. Expecting to obtain a mid/low range 2:1, I acheived an A* in Mathematics at college and currently have no internship experience, I’m applying to loads now. I currently trade on the Trading212 platform so that may express some commitment for the S&T role I hope.

    In addition, I plan on studying for CFA Level 1 and have the option to graduate this year so plan on applying to graduate schemes (analyst positions). Any advice you can give to stand out from the extremely competitive crowd that the front office jobs attracts, taking my relatively mediocre grades into account? Or would you suggest obtaining middle office roles/internships and work my way up to front office? I plan to take your advice on networking aggressively at my university. Any harsh advice is appreciated thanks

  10. Ashish Kumar

    Hi There,

    I have recently graduated (from an IIT) and working as UK interest rate futures trader.I want to maximise this opportunity to get into finance. I am from India.What should my course of action from here.

  11. Hi guys,
    I graduated from a really good university in Australia with a first class honours degree in engineering but I have no formal experience in finance. I had a first round interview with Macquarie Bank but got rejected because there were other candidates with similar marks and experience in finance (I have a feeling I was only invited to fill in their interview quota). I am beginning to think I either need to spend every waking hour networking or turn myself into a unicorn to even have a chance of breaking in. I’ve been thinking of doing a Master’s degree to stand out and think this will considerably improve my chances. The problem is I’m really interested in finance and economics and I can’t really choose between the two. Should I do the Master of Commerce and specialise in finance and quantitative finance or specialise in finance and economics? I could also do the Master of Economics and specialise in financial economics. I guess what I’m trying to ask is which degree/specialisation would offer me the most variety if I don’t make it into investment banking. I hear economists do really interesting stuff and get paid quite well too. I’m not afraid of the long hours in investment banking as I had to put in a great deal of hard work and all nighters to get the first class honours and I think I’d be really good at it but I just don’t see much of a chance as I don’t come from a wealthy background, have insane extra-curriculars or “play rugby” (a finance professor at uni said they love rugby players apparently).

    1. I don’t think it really matters, but anything math or finance related is better than economics because economics doesn’t give you much of anything useful. You may want to see this article as well:

      https://www.mergersandinquisitions.com/sovereign-wealth-funds-australia/

      (Short version: IB recruiting in Australia is very tough – consider SWF and pension funds instead.)

      1. Thanks for the advice.I’m currently doing a training course for a prop trading firm but I’ve read from your previous articles that prop trading doesn’t really provide you with many exit opportunities (which makes sense). My end goal is to either get into fund management, private equity, venture capital or achieve an executive position at a large company where I’ll be managing the business operations/finances (I know these are pretty big goals considering I’m just starting out but that’s what I have in mind long term). That’s the main reason I’m interested in starting off as an analyst in investment banking. Regardless, I think the master’s degree in finance would be a good investment even if I don’t manage to get into banking. Once again thanks for the advice.
        By the way, would working at a big four firm be looked upon favourably when applying for an investment banking job?

        1. I think you need to narrow your goals first because those are completely different industries and careers. Yes, Big 4 work helps when applying to IB, but again, in Australia it’s extremely difficult because of the size of the market and nepotism.

  12. Shivanshu Chauhan

    Hi,

    I will be joining Morgan Stanley, Technology and Data Division in 2017. I want to go in Front end Investment Banking. Will CFA serve my purpose of breaking in to IB ? If not, then how can I make this switch.

    Thanks

    1. It might help a bit, but the CFA alone won’t get you into a front-office role. You’ll have to network heavily, learn modeling/the technical side (as the CFA doesn’t exactly cover it), and probably target smaller banks.

  13. Hey. I am engineering undergraduate from a top grad school in India.I want to break into investment banking on the Wall Street.However, I have recently had that “spark” into finance.So I don’t have much(or rather zero) of the experience required.I am in my final year now,so internships are out of the question.Could you please suggest a way into it. Also, how can i expand my networking into U.S from India?

    1. It will be almost impossible to do this. See:

      https://www.mergersandinquisitions.com/investment-banking-india/
      https://www.mergersandinquisitions.com/india-big-4-transaction-services/

      Going to a Big 4 firm and then using an MBA to get in outside of India is your best bet.

  14. Anmol Modi

    Hi,
    I am a mechanical engineering student and I am wanting to shape my career in IB. In order to do that either I have to do master In finance or a MBA. So, according to you which one shouldbe the best option. I am not interested in doing job in field of my study. I live in India where getting a job in IB or Boutique banks after doing engineering is next to impossible. So, what should I be doing in order to not waste my time and get started with my aspiration.

    1. Depends on how much work experience you’ve had… a Master’s degree is better if you’ve had less experience (1-2 years), while an MBA is more appropriate if you’ve had more work experience. But if you’re in India, as you said, it will be almost impossible anyway, so you might want to consider leaving the country or moving into a Big 4 firm instead.

      1. Anmol Modi

        Thank you for the response. I have less than 2 years of experience.
        I am prepared to leave the country but I am in a dilemma which country to choose for studying and then settling down there to work.

        1. The UK is probably the best option coming from India.

          1. Thank you for the response.

  15. Hi …
    I’m basically an engineering graduate (electrical engineering) and worked for 2 years as junior engineer in a Pvt. Engineering company. I left that job and later joined in income-tax department, Central Govt revenue department of Govt of India as sr.tax assistant (through competitive exam), where my nature of duties among others include, auditing the books of accounts of the assessee, verifying for income escaping tax and assisting my officer in preparation of assessment of order as well as filing appeals in courts etc. Total work experience in IT- department is 4 years with 1 promotion as well. Now I want to get into more finance related positions like financial analyst or into IB in private international banks. So how do I get into IB-Finance with this work .? how do companies view such experience as per your knowledge and how to project my interests in finance.? Is mba in usa from a decent school a good option..? should I also pursue any financial related courses to help my cause. I’m 26years now. Thank you.

    1. At this point, you would need an MBA and some type of pre-MBA internship to make the switch. The job market has become too competitive to do it without both of those. Your experience looks decent, but a lot of people come into business school with audit/tax/IT experience, so you’ll need something else to stand out.

  16. Hi there,
    I recently graduated with a Bachelors In Electrical Engineering, and working as a Project Engineer for a Construction Engineering firm. While in college, I had a part time job working for an event management company hosting music events around New York City, and I gained experience in Strategic Managements, Sales Managements, Recruiting and Training. Moreover, I also have management experience in retail industry. In my current position as a full-time engineer, I also have to collaborate with people from various background, follow-up, coordinate, schedule job progress and participate in efficient planning and bid pricing.
    I am really interesting to change my career track and break into Investing Banking/PE. But I have no business degree or relevant work experience. Moreover how can I make myself more marketable for that industry without having an MBA at this point, even though I am considering getting into a part-time MBA program next time.
    I SHALL BE GRATEFUL IF YOU COULD ADVISE ME ON THIS, AND SUGGESTION THE POSSIBLE WAYS I CAN MAKE MY TRANSITION EASIER. YOUR KIND REPLY IS HIGHLY APPRECIATED. THANK YOU IN ADVANCE.

  17. Hi,

    I live in Australia and am currently about to finish my first year of engineering with a second major in finance yet I am debating whether to continue engineering. Thus far, I have done more finance units than eng (its how my plan worked out) and seem to be enjoying them more than my eng units. Recently, I have been debating whether or not to change to a commerce degree, I have to make this decision over the summer. I feel my skills are more suited to commerce and I have more potential to create a solid grounding for my future career. I have good people skills and good marks ( finance > eng) and particularly enjoyed corporate finance. I know the information i have provided is vague but any advice on whether i should change and which area of the financial sector would suit me best would be well appreciated.

    Thanks

  18. Currently a sophomore in college, majoring in EE. Most people recommend engineers go for a Msc/Mba/other certification in order to break in. But I m not hoping to go for those because of the opportunity cost.

    I had a finance internship in my freshman summer. My goal is to break into IB after grad. Do you think I have a shot at getting a Ibanking internship this summer and for the next?

    1. Sure. You don’t need an Msc/MBA/other certification to get in as an undergrad… just solid internship experience. See some of our previous interviews with engineers who got into the finance industry.

  19. Currently a 2nd year EE student. 1st summer, I had a boutique PE internship. My grades are not the best right now 3.1/4. I m looking at doing an Ibanking internship this summer.

    I have the PE internship going for me but my grades are a bit low. What is within my reach? What should I do at this point?

    Also, I m looking at learning the technicals ASAP to cover all my bases. And also reading the news daily.

    1. I think an IB internship is within your reach, but more likely at a smaller firm if your GPA isn’t great. At this point, start pounding the pavement and networking extensively… find all the local firms you can, network, cold call, cold email, and so on, and pitch your PE experience while avoiding mention of your GPA until they ask for it.

  20. Karthik257

    Hi,

    I am a mechanical engineer with 6 years of experience. At the same time, I was trading part time for the whole 6 years. I really liked it and wanted to make a career out of this. So I quit the job and started investing using buffett strategy for past 2 years and I am successful in this as well. Now in order to make a lot of money using the skills acquired, I am thinking of joining an investment bank.

    Do you think I am in the right path?

    What will be the chance of succeeding in this route?

    Thanks in advance.

    1. Nicole Lee

      If you’re good at trading I’d suggest that you look at buy-side roles or even trading firms. If you have a good track record and strong interviewing skills I’d say your chances are 50/50

      1. Karthik257

        Thanks Nicole

  21. There is a PE specialised in mining investment. Their analyst position asking for mining engineering degree + 3 years mining industrial experience + proven interest in finance. I satisfy the first 2 conditions but no financial degree nor background. I applied for the job and HR said I don’t pose a proven interest in finance.

    Do you recommend me to go to business school to get a 3 years degree? and give a shot on intern or something. Or shall I keep trying other companies. pl. I will be 32 by the time of graduation. What is your recommendation?

    1. M&I - Nicole

      Unless you get into a top business school (think Columbia, Stern, HBS), I am not 100% sure if it is worth your time. Interning/connecting with other finance companies maybe more relevant at this point.

  22. Is there any reputed distance learning programme in finance or investment banking like high end certification like CFA OR ACCA OR FRM that could allow me to break into investment banking as i am chemical engineer from india?

    1. M&I - Nicole

      I don’t think there are any distance learning programme that does this. New York School of Finance maybe the best bet.

  23. Hi,

    I would like to get some advises as well.
    I have Mechanical Eng. background in Turkey and M Sc. in Management in Germany. In the last 6 month of my Masters Degree, I had an internship at Finance in a well-known automotive company and afterwards 3 months another internship at Marketing in one of Germany offices of a rapid growing airline. For more than 3 years I have been working at Marketing & Sales in HQ of this same airline and got involved in a very broad strategic consulting project.
    Since then, I have been in pursuit of a career either in consulting or investment advisory (ib or pe). How shall I make it? Which steps should I follow?
    Please advise me..
    Thanks.
    Regards

    1. M&I - Nicole

      I am not 100% sure if PE is the right fit for you, but you may find this article useful: https://www.mergersandinquisitions.com/private-equity-recruiting/

      You may find consulting or even corporate development more relevant to your background. Management Consulted is a good resource for consulting roles: http://managementconsulted.com/

  24. Hey..
    I’m persuing my bachelor’s degree in engineering and currently in 3rd Yr. CGPA of 9.2 and SGPA of 9.0 throughout. Ever since I wanted to boost up my career as an IB. I don’t have any Work experience, but looking forward to get into a top MBA college after graduation. I would like to know is there any way to switch my career to this field? Suggestions awaited.
    Help.
    Regards.

  25. Petroleum Engineering Major

    Not Amazing GPA — 3.1… About to graduate in the spring. Not terrible though. Going to bring it up this year.

    If I got some solid O&G experience (say 3-5), would it be possible to make the move into Banking (say an M&A role) or hedge funds later with solid Industry experience (preferably w/o an MBA)?

    From talking to finance people they do not know the oil and gas industry…… at all. (I had a buddy from high school in IB think a rig was a well).

    1. M&I - Nicole

      Yes you may have to network a lot and also understand the O&G modelling. I’d suggest that you approach O&G bankers, O&G researchers at asset management firms/hedge funds. No, you don’t necessarily need an MBA to break in, since your industry knowledge can help. But you’ll probably have to network quite a bit. The articles below should help:
      https://www.mergersandinquisitions.com/oil-gas-investment-banking/
      https://www.mergersandinquisitions.com/oil-gas-investment-banking-energy-hedge-fund-case-studies/

  26. Hi,

    After graduating in electrical engineering with a relatively low GPA, I started working in telecom industry. After about 2 years of work, I completed my master’s in innovation management and entrepreneurship and worked with two failed startups and then came back to engineering roles in telecom industry and have been working here for past 3 years. Now, I would want to make a transition into IB/Venture Capital or PE. What are my options? I have considered MBA from top 10 schools, what are my chances given my GPA was low in bachelors degree but I have excellent grades in my master’s degree! thanks!

    1. M&I - Nicole

      If your GPA is high in your masters, this can compensate for your low GPA in your undergrad years. I’d focus on IB first rather than VC/PE given your experience, unless you’ve started a company, which would be useful for VC roles. Your chances are 50/50 given your lack of industry experience

  27. Hi There,

    I have completed my master of science degree and have some research experience in biotechnology. In due course I have realized that scientific research is not what I want to pursue anymore due to various reasons. The financial sector really excites me. So I am planning to take some financial courses and switch from a science background to the financial sector. Would you be able to guide me and suggest if the move is possible at first. I have been advised to go through CSC (Canadian Securities Course) to start with. I am just looking to get into the the financial sector as a new entrant. Is it possible ?

    Thanks.

    1. M&I - Nicole

      Yes this is possible. There are biotech finance roles which you may find useful: http://www.indeed.com/q-Biotech-Finance-jobs.html That maybe an easier route to move to finance, rather than taking the leap straight into finance

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