jump from back office to front office

Although nobody can say it is 100% impossible, I think for all intents and purpose the chance of you getting into IB now is <1% which means really no chance at all.

Bad economy, bank retrenchments, drying up of corporate actions and an ordinary education with no meaningful experience. You are at the wrong place at the wrong time.

Nobody can help you in anyway except generic info like network and stay positive. It was a dumb move to take up BO thinking you can leap into IB after a year. Doesn't work this way.

If you have no interest in BO, either move into sales like personal or commercial banking or exit the industry altogether while still young. I know many BO ppl in their late 30s stuck in a job they don't like, yet too late to make a switch.

[graduation bear]

Originally Posted by Unregistered

Although nobody can say it is 100% impossible, I think for all intents and purpose the chance of you getting into IB now is <1% which means really no chance at all.

Bad economy, bank retrenchments, drying up of corporate actions and an ordinary education with no meaningful experience. You are at the wrong place at the wrong time.

Nobody can help you in anyway except generic info like network and stay positive. It was a dumb move to take up BO thinking you can leap into IB after a year. Doesn't work this way.

If you have no interest in BO, either move into sales like personal or commercial banking or exit the industry altogether while still young. I know many BO ppl in their late 30s stuck in a job they don't like, yet too late to make a switch.

Hi, May I know why having 1 year in BO means the end of getting into FO? were there certain steps I needed to take when I was a fresh grad to get into IB?

hello everyone thought I might stop by to get some advice as this looks relevant to me. I have just graduated 3 months back with a second class honors upper. I was offered a role in UBS as a KYC/documentation specialist (6m contract). I have not accepted this job yet as I am still deciding. Would like to know the prospects of this job and whether there are any good career advancement? Should I take this job or wait for other jobs? Please share with me some detailed advice. Tnx!

Originally Posted by graduation bear

Hi, May I know why having 1 year in BO means the end of getting into FO? were there certain steps I needed to take when I was a fresh grad to get into IB?

The general impression is that you weren't competitive when you were recruiting as a fresh grad, and because you have spent the last year in back office, there is no reason to believe that you are better placed now than you were last year. (I.e. Uncompetitive candidate + 1 year in back office = still uncompetitive candidate)

I'm not saying that it is true, but that is what you are up against. And assuming you are doing 50-60 hours per week, that's 40-50% less than what the IBD guys are averaging. So the Analysts are even further ahead of you after 1 year into the job. See the challenge here?

Originally Posted by Unregistered

hello everyone thought I might stop by to get some advice as this looks relevant to me. I have just graduated 3 months back with a second class honors upper. I was offered a role in UBS as a KYC/documentation specialist (6m contract). I have not accepted this job yet as I am still deciding. Would like to know the prospects of this job and whether there are any good career advancement? Should I take this job or wait for other jobs? Please share with me some detailed advice. Tnx!

It comes down to what you want to achieve with your career. Every job offers advancement (even McDonalds) but not every job may take you where you want to go.

If it's M&A you want to eventually get into, do join Transaction Services team with a big 4 accounting firms if you can't get FO right now. At least you can working on modelling and picking up Excel skills. Sure Beats joining BO sorting through documentation/reconciliation (or whatever it is BO people do). Hang on couple of years, then jump later. Even so, jump to bulge bracket is unlikely but you may have a shot with mid market/boutiques.

Originally Posted by graduation bear

Hi, May I know why having 1 year in BO means the end of getting into FO? were there certain steps I needed to take when I was a fresh grad to get into IB?

Let me tell you in plain words since you seem to be totally unaware what is happening in the IB world.

You never had much of a chance even 1 year ago as a fresh grad. Most of the IB recruits have at least 1-2 summer internships with a BB under their belt at the time of graduation. Many (but not all) come with overseas ivy-league degrees and usually take part in activities related to the investment world such as competitions, business write ups, forums etc. during their school days to chalk up industry visibility and connections.

Other than a masters degree from Australia, you don't really have much to show for. You might have been an above average decent fresh grad 1 year ago, but when you compete with the top 1% of your cohort, you end up short of what is expected. This is the reality, hence you got nothing except a BO job.

Then you erroneously took up the BO job without conducting proper research and thought this would be your hidden pathway to greater heights in IB. Guess what, you are not alone and many of your colleagues made the same mistake and now also desperately asking around hoping against hope that they will get transferred to the FO.

Reality is >99% of you BO chaps are not going into investment banking. Maybe once in a blue moon someone manage to do it through connections, sleeping around, or just plain sheer luck of being at the right place at the right time with the right person. If you are asking what to do here, no it ain't gonna be you.

You have very limited options now. You can try your luck with some small boutique investment firms (I reckon you have ~10% chance) and slowly build up your credibility (from what I heard the hours are just as brutal, 80hr work weeks are norm) and hope that after 5 years you can make the cut. Or you can widen your net and look for interesting jobs outside banking.

The worse thing you can do is to waste another few years fumbling around transactional/operations work thinking this is going to help you be the next investment banker.

[graduation bear]

Originally Posted by Unregistered

Let me tell you in plain words since you seem to be totally unaware what is happening in the IB world.

You never had much of a chance even 1 year ago as a fresh grad. Most of the IB recruits have at least 1-2 summer internships with a BB under their belt at the time of graduation. Many (but not all) come with overseas ivy-league degrees and usually take part in activities related to the investment world such as competitions, business write ups, forums etc. during their school days to chalk up industry visibility and connections.

Other than a masters degree from Australia, you don't really have much to show for. You might have been an above average decent fresh grad 1 year ago, but when you compete with the top 1% of your cohort, you end up short of what is expected. This is the reality, hence you got nothing except a BO job.

Then you erroneously took up the BO job without conducting proper research and thought this would be your hidden pathway to greater heights in IB. Guess what, you are not alone and many of your colleagues made the same mistake and now also desperately asking around hoping against hope that they will get transferred to the FO.

Reality is >99% of you BO chaps are not going into investment banking. Maybe once in a blue moon someone manage to do it through connections, sleeping around, or just plain sheer luck of being at the right place at the right time with the right person. If you are asking what to do here, no it ain't gonna be you.

You have very limited options now. You can try your luck with some small boutique investment firms (I reckon you have ~10% chance) and slowly build up your credibility (from what I heard the hours are just as brutal, 80hr work weeks are norm) and hope that after 5 years you can make the cut. Or you can widen your net and look for interesting jobs outside banking.

The worse thing you can do is to waste another few years fumbling around transactional/operations work thinking this is going to help you be the next investment banker.

hmm what about structural products/investment products or wealth management in IB? does what you say apply to those too?

Originally Posted by graduation bear

hmm what about structural products/investment products or wealth management in IB? does what you say apply to those too?

ROFL Do you even know wtf is IB?

what are the more glamorous BO jobs?

Originally Posted by graduation bear

hmm what about structural products/investment products or wealth management in IB? does what you say apply to those too?

you really champion...