Would a master from LBS/LSE allow me to break into IB in London?
I am currently doing a gap year after having read my undergrad at a non-target in the Nordics. My ambition is to break into IB/PE in London and I have listed my prior experiences below.
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Internships in IBD at 2 of the leading Nordic banks
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Internship at large European PE firm
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Internship in VC
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GPA: 3.8/4
I have tried recruiting for London without success. Would a 1-year masters from LSE/LBS allow me to successfully recruit for full-time positions in IB/PE in London? Thankful for any input.
Yes
I'm currently a student in the LSE MFin programme with a similar profile (graduated from my undergrad in 2021, took a gap year, have previous IB experience at no name boutiques in my country).
Yes, these MSc programmes will definitely help you get first rounds (can speak from my own experience). However, I was advised to apply for SA/OC internships rather than FT positions. The reason is that for FT recruiting, HR typically prefers students who had a previous SA/OC internship in London. If this is not your case, another way to get a first round for FT is to get an internal recommendation (even a 1st year analyst counts, just anybody inside the IB team who can send your CV to the HR guys).
Thanks a lot for the input. Really interesting about the importance of networking too - I hadn't realized how important that was for London. When you speak about first-rounds, does that mean getting a few interviews with lower-tier MM banks or getting interviews with pretty much every BB and EB? Also, is the education in the program practical or is it very theoretical and mathematical? Thanks.
Networking helps mostly for FT recruiting, very little for SA positions
Regarding first-rounds, I would say getting them is the hardest part of the recruiting process. Given that thousands of students apply, even having LSE/LBS on your CV does not guarantee that you'll hear back from every BB/EB. From my experience this year, so far Ive had 5 first-rounds (out of 40+ positions I applied for): 1 BB, 2 EBs, 1 MF, and 1 MM bank. I know classmates who just had 1 or 2 and people who havent heard back yet. The key thing for hearing back is applying early, like literally the same day the position opens or up to one week after, and acing the tests.
So far its been theoretical, as we have compulsory modules in the first term (asset markets and corporate finance). However, the second term is mostly electives so you can choose more practical modules (such as M&A and restructuring, corporate investment policy, etc)
Yes, you can even try to get a summer internship ahead of doing the MSc
LBS would certainly open doors, strong alumni network in the UK.
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