Feeling stuck in IB – has anyone pivoted to a role away from IB/PE/HF/Corp Dev?
So I was “told” that being in IB would be the holy grail of exit ops. Once I did my two years in finance, all financial careers would be my oyster. Now I’m 2.5 years at an EB and tbh I feel more stuck than anything. Sure, I can exit to PE, HF or Corp Dev within my industry. If I try a little harder I could maybe move to CB, or IB in a different industry (or maybe product group).
But I feel super unqualified for anything outside of those standard options. Could I do Accounting? Could I do trading? What if I wanted to be a wholesaler? What if I wanted to work at a regulator (like the SEC)? Something I find fascinating is financial crime and I would love to work at a regulator tracking down fraud and the like. Even something like FP&A seems tough because I have no idea what that entails.
Tbh it feels like all I’ve developed in the last 2.5 years is some sick Excel skills, the ability to function on 4-5 hours of sleep, and some semblance of deal structuring, and industry specific financial concepts. I’ve learned that if you’re on a sellside you should embellish to the point of lying, and if you’re on a buyside you should run cases such as “What happens to IRR if the population of the U.S. was cut in half”.
Bit of a rant, but yea as someone not interested in PE, I feel sort of stuck in IB. Is networking the way out? Or do I need to go back to school? Has anyone pivoted from the classic “high finance” careers to something a bit more esoteric in finance?
One response
Transitioning out of Investment Banking
It’s completely normal to feel unsure about your future career path after spending a few years in investment banking. The finance industry can be intense and demanding, leaving many professionals feeling stuck or pigeonholed into specific roles. However, it’s important to note that there are plenty of opportunities outside of the traditional paths of private equity, hedge funds, or corporate development.
Exploring Alternative Career Paths
When it comes to transitioning out of investment banking, it’s essential to conduct a self-assessment to identify your skills, interests, and values. Reflect on the aspects of your job that you enjoy and those that you find challenging. This introspection will help you determine potential career paths that align with your strengths and passions.
Networking and Personal Branding
Networking is a powerful tool for uncovering new opportunities and connecting with professionals in diverse fields within finance. Consider reaching out to contacts in your network or attending industry events to learn more about alternative career paths. Building a strong personal brand through platforms like LinkedIn can also help you stand out to potential employers in non-traditional finance roles.
Skill Development and Education
If you feel unqualified for roles outside of investment banking, consider upskilling or pursuing further education to broaden your expertise. Online courses, certifications, or even a specialized master’s degree can provide you with the necessary knowledge and skills for transitioning to a new field within finance, such as Accounting, trading, or financial crimes investigations.
Seizing Unique Opportunities
Exploring unconventional paths in finance, such as working for a regulatory body like the SEC or focusing on financial crime, requires a proactive approach and a willingness to step outside of your comfort zone. Be open to unique opportunities that may not fit the traditional mold of finance careers and leverage your existing skills to make a meaningful impact in these areas.
Seeking Mentorship and Guidance
Consider seeking guidance from mentors or career coaches who can provide insights and advice on transitioning out of investment banking. Their experience and expertise can offer valuable perspectives on alternative career paths and help you navigate the challenges of making a career pivot.
In conclusion, transitioning out of investment banking into a role outside of IB, PE, HF, or Corp Dev is entirely possible with the right mindset, proactive approach, and willingness to explore new opportunities. By assessing your skills, networking, upskilling, and seeking mentorship, you can successfully pivot to a more esoteric field within finance that aligns with your interests and aspirations.