Tom Cal, CFA ⋅ San Francisco, CA Army Veteran, Investment Manager ⋅ 25 years experience

Read about the book "Where Are the Customers' Yachts". Then provide feedback about what you think the book is about, and if you might read the book. https://www.google.com/search?q=where+are+the+customers+yachts

Kiley Pontrelli ⋅ Morrisville, NC Credit Suisse ⋅ 8 years experience

Hi Juan -

I work at Credit Suisse - an investment bank with locations around the globe. Happy to help answer any questions you have! My email is kiley.pontrelli@credit-suisse.com.

Best,
Kiley

Mark Johnson ⋅ Beltsville, MD Bds marketing / Banking ⋅ 4 years experience

Hi Juan
I've been in banking mas 10 years
Investment banking is exciting , and really in need of some great guidance.
I study marketing
Your IT experience should be your best foot for banking its a big deal / the digital angle is one I feel
You should amoritise to give your best.
Would enjoy your replay I be glad to go deeper
Mark

John Cristancho ⋅ West New York, NJ UBS ⋅ 2 years experience

Hi Juan - I share a similar background and currently work in the industry. If you would like to have a chat, please feel free to reach me at john.cristancho240@gmail.com

Kind regards,
John

Juan Lopez ⋅ Orlando, FL U.S. Air Force, Senior Airman ⋅ 5 years served

Thank you all for the feedback provided, it has really help give me a better understanding to better prepare myself for this industry.

Barry Sosnick ⋅ Greenlawn, NY Great Whites Pediatric Dentistry & Orthodontics ⋅ 5 years experience

As Tim asked above, which area of investment banking interests you: trading, corporate finance, research, institutional sales, etc.? Some areas require considerable quantitative skill. The time horizons are different too: you can measure time in months in corporate finance and milliseconds in trading (although building the underlying models takes time).

I was an equity analyst before leaving to start a business with my wife. I enjoyed building relationships and weaving multiple streams of information into a story. My brother is the head of risk management at a large firm that grew rapidly. He was one one of the few MBAs at his firm: many people had Ph.ds in highly quantitative fields such as economics and physics.

What you enjoy and your aptitude will narrow down which departments appeal to you. Where you are in life matters too: once my son was born and the recession hit, the hours and travel became less appealing. I looked at the divorce rates climbing due to the stress and time away from family. When my wife wanted to start her business, I left a well-paid position with no regrets and fortunately sold off my company stock before the plummet. A close friend who was the head of Lehman's global CTO desk wasn't as lucky, but he quickly found another position running North American credit sales for another major IB.

A top-tier MBA is extremely important for most jobs. An undergraduate degree or higher in engineering, economics, math and physics can sometimes suffice in certain areas, but pedigree matters (MIT, CalTech, Carnegie Mellon and similar schools). The only schools that aren't prestigious but still relevant are good regional MBA programs in NYC, Baruch and Fordham, although your chances are better at NYU-Stern and Columbia Business School.

Good luck!

Dan O'Shea ⋅ Chicago, IL U.S. Air Force, Senior Airman ⋅ 4 years served

Hey Juan,

As others have mentioned, in general if you want to go the IB route you need to go to a top tier MBA program. If you want to go the prop trading route, a top tier MBA is not necessary. As a former prop trader and current risk manager of a prop firm in Chicago, I can tell you that a background in programming is far more useful than an MBA for a prop trader. The prop business is evolving into mostly high frequency and algorithmic trading at this point. Yes, there are still a few people down on the floor trading in the pits, and there are certainly traders who are "pointing and clicking" with a mouse, but the algos are what makes the money now. Getting into the prop business can usually be accomplished by starting out as a desk assistant or as an overnight clerk, and make your way up from there. You didn't mention if you have an undergrad degree yet or not, but it is a prerequisite for working at any of the larger prop shops. Happy to chat more if you would like to. doshea@hehmeyer.com

Dan

Thomas Schwartz ⋅ New York, NY U.S. Marine Corps, Corporal ⋅ 5 years served

Good morning, Juan. The vast majority of recruiting for investment banking (as in, M&A advisory) occurs through on-campus recruiting for both analysts and associates. If you already have a Bachelors degree, you should indeed consider going for an MBA and doing the on-campus recruiting. If you do not have a Bachelors degree yet, you should get it and do analyst recruiting while there. Having a degree in finance will help but isn't necessary. The top investment banks (Goldman, JPM, MS, Centerview, Evercore, Moelis, Jefferies, Lazard, Allen & Co, et cetera) typically recruit from a limited number of colleges (think Harvard, Princeton, Yale, Stanford, Pennsylvania (especially Wharton), Georgetown, et cetera). If you can get into a top 25 college, study finance, and have prepared why you are interested in doing investment banking that doesn't involve the pay, you should be all set. The main internship is typically between your junior and senior year. Therefore, try to do other finance related internships in earlier years (between freshman and sophomore, sophomore and junior years) or at lesser known boutiques.

Feel welcome to reach out to me on LinkedIn. Search Thomas Schwartz Georgetown or Thomas Schwartz Marine Corps and you should be able to find me.

Best,

Thomas Schwartz

Ben Choe ⋅ New York, NY ⋅ 7 years experience

Get your MBA

Juan Lopez ⋅ Orlando, FL U.S. Air Force, Senior Airman ⋅ 5 years served

Thank you Kiley,

I will be sure to send you an email.

Juan Lopez ⋅ Orlando, FL U.S. Air Force, Senior Airman ⋅ 5 years served

Thank you Tom, I have reached out on linkedin to set up a time to talk.

Tom Cal, CFA ⋅ San Francisco, CA Army Veteran, Investment Manager ⋅ 25 years experience

Juan Lopez,
Let's set up a timeto talk. I'd like to hear about why prop trading interests you, and help you create a plan to research prop trading and other careers related to trading and investing, and in the investment and finance sector.

Juan Lopez ⋅ Orlando, FL U.S. Air Force, Senior Airman ⋅ 5 years served

Hello Tom,

Thank you for the reply. The role I am most interested in is the 'proprietary trading' side of investment banking but at the same time I also feel I need some help in learning the other aspects of investment banking that might also appeal to me. I am still working on becoming consistent on my own personal trading account but I see myself working as a prop trader for a firm in 5 years and beyond. Thank you again for your time.

Tom Cal, CFA ⋅ San Francisco, CA Army Veteran, Investment Manager ⋅ 25 years experience

What do you mean when you say investment banking. The term has several different meanings and uses.

What about car related to investment banking interests you?

Do you know what specific roles and "departments" in investment banking interest you, or do you need help with this?

What do you want to be doing in 5 years and beyond?