[推荐]Will an M.B.A. Lead You To Investment Banking?

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http://www.collegejournal.com/careerpaths/findcareerpath/20060913-capell.html?refresh=on

By PERRI CAPELL

Question: I have worked at an institutional brokerage in corporate affairs, operations and institutional equity sales, in India, London and New York. Would an M.B.A. help me switch to investment banking?
  I'm 32 and don't have the grades for a top school.

Answer: Many midcareer professionals who want to switch functions or industries believe that an M.B.A. will give them an automatic entrance to their desired field. If you graduated at the top of your class from a top business school, you might be able to write your own ticket.

In your case, though, landing an investment-banking role after getting an M.B.A. isn't a sure thing, because you'll probably have to attend a lesser-ranked school. But don't be discouraged. When making a midcareer change, alumni contacts and extracurricular activities sometimes count for more than the knowledge you gain from getting the degree.

"What the M.B.A. gives you is access," says Linda Bialecki, president of Bialecki Inc., a New York-based search firm specializing in investment banking. "It doesn't convince anyone in and of itself that they should hire you in the investment-banking field."

You have moved from operations to sales to corporate roles, so your background doesn't show a clean, logical progression. Investment banks also can choose among candidates who are committed and qualified, says Marie Rice, managing director of Jay Gaines & Co. Inc., a recruiting firm in New York with a financial-industry specialty.

So, before we discuss tactics, ask yourself: "How badly do I want to make this move?" Be sure this is your No. 1 priority and be willing to take a pay cut if necessary. "You need to network, get out of your comfort zone and be prepared to take a step back," says Ms. Rice.

Even though you don't have perfect credentials, you can accomplish the transition if you wage an all-out campaign prior to graduating with an M.B.A., says Ms. Bialecki. "You must have a comprehensive belief that you are serious and you are going to do this, no holds barred." she says. "People will hire that kind of determination."

The first step is to analyze your background to identify knowledge and abilities that are assets in investment banking. For example, if you have been selling securities for emerging-market companies or those in European markets, you may be able to show potential employers that you have researched and understand these areas and aren't strictly a salesperson.

Another valued skill is fluency in a second language. "It's a huge advantage if you speak Hindi and are from India and want to focus on India," says Ms. Bialecki. The knowledge you gained from working in London also is a plus.

Don't focus on joining a large, well-known investment bank, where your competition is greatest. Research regional investment-banking firms or boutiques and then ask your current contacts for introductions. If possible, reach out to your institutional equity-sales clients who may have contacts on the investment banking side of their firms.

Make appointments for informational interviews with investment banking professionals to learn what someone with your background should do to make a career change. Could you take a lesser position to get your foot in the door? Are there areas where you can work for a while and later make a lateral move?
 

Private-equity sales, where hiring demand is strong, may be such an option, says Ms. Rice. "If you were doing the due diligence behind the acquisitions and investments, it could lead to investment banking," she says.

Research M.B.A. programs at public universities that offer emerging-markets studies, says Ms. Bialecki. Take these courses as electives while pursuing your M.B.A., she suggests. Also focus on making connections to the investment-banking world through alumni or professors. Offer to help professors who are working with investment banks on research projects. Seek internships or jobs with investment banks during breaks in your studies. Join the investment-banking club.

Although M.B.A. coursework is worthwhile, the contacts you gain in the field and with alumni at your school may prove more valuable. Above all, though, it will take hard work to make the move. You can't just say, 'I'll go to business school, punch my ticket and get a job,' " says Ms. Bialecki.

-- Ms. Capell writes the Careers Q & A column. The Wall Street Journal

[此贴子已经被作者于2006-9-14 18:21:32编辑过]