From MFE to IBD, is it possible?

[Dave Lee]

Hi all,

Just curious would it be possible for a MFE grad get a job in IBD? Does IBD only recruit from top undergraduate or MBA ?
I am currently a MFE student in a top program according to the ranking list, but I realized that I don't want to do quant-related stuff anymore. Is it possible for me to get into IBD with a MFE degree?

Thank you all. Any inputs will be greatly appreciated !

 

[zyz]

Wow, what a surprise ... I personally do not know anybody who made this transition but I guess you should probably start networking asap and be ready to answer questions like why IBD, why did you do MFE (instead of MSF/MBA).

Just curious why you don't want to do quant-related stuff anymore?

 

[Dave Lee]

Wow, what a surprise ... I personally do not know anybody who made this transition but I guess you should probably start networking asap and be ready to answer questions like why IBD, why did you do MFE (instead of MSF/MBA).

Just curious why you don't want to do quant-related stuff anymore?

Well, I did my undergrad in finance, although with a lot of math courses, I didn't get the degree. Now I just found that it is really hard for me to break in the quant field without a bachelor degree in CS and Math. I have already been rejected by many quant trading firms/hedge fund. So, I really don't know which career path should I pursue now. So disappointing in myself

 

[zyz]

If I were you I would sit down and thoroughly think about pros and cons of the career paths, my strength and weaknesses, the reality and make a decision. Otherwise it would be very hard for me to fight in two battlefields going forward.

I wish I had encouraging words here.

 

[Dave Lee]

If I were you I would sit down and thoroughly think about pros and cons of the career paths, my strength and weaknesses, the reality and make a decision. Otherwise it would be very hard for me to fight in two battlefields going forward.

I wish I had encouraging words here.

Thank you. They are encouraging words!

 

[TehRaio]

Well, I did my undergrad in finance, although with a lot of math courses, I didn't get the degree. Now I just found that it is really hard for me to break in the quant field without a bachelor degree in CS and Math. I have already been rejected by many quant trading firms/hedge fund. So, I really don't know which career path should I pursue now. So disappointing in myself

I'm not sure I understand your path up to now.

you don't have a MFE is that right? or do you?

 

[Dave Lee]

I'm not sure I understand your path up to now.

you don't have a MFE is that right? or do you?

Hi, I am doing MFE right now, and I will graduate next year. So, I am searching for summer internships but got rejected by many quant trading/hedge fund. Thus, I am wondering if it is possible for me to break into IBD. Thank you

 

[CasanovaJ]

I'm currently in a "top MFE program" also (graduating in May), and I've found that for pretty much everything that isn't explicitly on-campus recruiting, it's generally considered way too early to be looking for full-time positions that start in May... I've actually gotten calls from people asking if I can "start earlier, because they're looking for an immediate hire" (to which my answer is "no, I guess it's just a bit too early and I'll try again in a couple months") but I think even internship recruitment generally doesn't start until January/February or so... I wouldn't necessarily construe not hearing back from people yet as "rejection"-- it really might just be too early.

 

[Dave Lee]

I'm currently in a "top MFE program" also (graduating in May), and I've found that for pretty much everything that isn't explicitly on-campus recruiting, it's generally considered way too early to be looking for full-time positions that start in May... I've actually gotten calls from people asking if I can "start earlier, because they're looking for an immediate hire" (to which my answer is "no, I guess it's just a bit too early and I'll try again in a couple months") but I think even internship recruitment generally doesn't start until January/February or so... I wouldn't necessarily construe not hearing back from people yet as "rejection"-- it really might just be too early.

Thank you! Although I was rejected by some on-campus recruiting, I guess I may wait a little bit later to apply other companies. By the way, I don't have any quant/trading work experience before, do you think doing a quant/trading project will help me land a interview? or maybe I should switch to apply for IBD instead. Thank you!

 

[CasanovaJ]

My original message was optimistic, but I'm a bit worried that you just mentioned specifically "trading" again... while I do think it's too early to get discouraged, if you're not willing to expand your horizons (at very least) to risk, it could end up being a bit of an uphill battle here... I do have the coveted "undergraduate computer science degree" you mentioned (and work experience), and while somewhat hopeful, I wasn't exactly planning on landing something in algo trading-- it's ambitious.

Concerning "going into IBD, because quant recruiting isn't going well," investment banking isn't a "fallback"... if you're genuinely interested in it then great, but if not, there will be enough Harvard/Wharton/Stanford MBA's applying (who were pretty much born to be bankers) that if your heart isn't really in it, it could possibly end up being an even more uphill battle than quant trading.

 

[tiger]

My original message was optimistic, but I'm a bit worried that you just mentioned specifically "trading" again... while I do think it's too early to get discouraged, if you're not willing to expand your horizons (at very least) to risk, it could end up being a bit of an uphill battle here... I do have the coveted "undergraduate computer science degree" you mentioned (and work experience), and while somewhat hopeful, I wasn't exactly planning on landing something in algo trading-- it's ambitious.

Concerning "going into IBD, because quant recruiting isn't going well," investment banking isn't a "fallback"... if you're genuinely interested in it then great, but if not, there will be enough Harvard/Wharton/Stanford MBA's applying (who were pretty much born to be bankers) that if your heart isn't really in it, it could possibly end up being an even more uphill battle than quant trading.

Yes, I totally agree with what you said. Actually, I am thinking of applying mainly for risk management, equity research, and something similar. With a much more suitable background, even you feel it is ambitious to land something in algo trading, I think it is time for me to reconsider my career path. Thank you. I really appreciate it.

 

[Dave Lee]

My original message was optimistic, but I'm a bit worried that you just mentioned specifically "trading" again... while I do think it's too early to get discouraged, if you're not willing to expand your horizons (at very least) to risk, it could end up being a bit of an uphill battle here... I do have the coveted "undergraduate computer science degree" you mentioned (and work experience), and while somewhat hopeful, I wasn't exactly planning on landing something in algo trading-- it's ambitious.

Concerning "going into IBD, because quant recruiting isn't going well," investment banking isn't a "fallback"... if you're genuinely interested in it then great, but if not, there will be enough Harvard/Wharton/Stanford MBA's applying (who were pretty much born to be bankers) that if your heart isn't really in it, it could possibly end up being an even more uphill battle than quant trading.

I think you are definitely right! Thank you so much for those thoughtful comments.