| Topic Name: |
Biz School Preference |
| Message Name: |
Career Planning |
| Date Posted: |
01/21/2006 |
| In Reply To: |
Speaking of cover letters, any tips/hints on 'why IB?' What do they want to hear here?
Thanks,
clegg |
| Message: |
If I??ve read your post correctly, banking is not your ultimate career goal, but rather an interim one.
It makes sense to step back and think about where you want to go (as much as one can ever know that) and what you want to do when you??re there.
Then devise a plan that increases the probability of realizing those goals.
Some random and quick thoughts to get you thinking.
For example, if you want to work in the airline industry, how does working in private banking get you there?
Think about competing to get into an industry against those who have worked in the industry for a long time. They know the business; they have contacts in the industry, etc. etc.
What would be your selling point to an airline to take you? More importantly, would you get your foot into the door to make the sale?
Of course if you??re a ??techie?? IT, Accounting, Finance, such a switch might not be problematic. I know a guy who went from a bank controllership function (mid level position) to a similar midlevel controllership position at one of the US airlines. (Not a recent story!)
Another example: you want to work as the Treasurer/Head of Finance at GE.
One potential route is through working in a commercial bank (this may cap out at a Treasurer function).
Or investment bank in debt/equity capital markets origination, M&A. Or at an accounting firm with a CPA. Moving from private banking or trading to such a position seems a bit harder to visualize.
Similarly, if you want to get into general management, but aren??t in the industry, a consulting background is a potential ticket.
Selling points: understanding of the industry, experience with several firms in dealing with issues/setting strategy, knowledge of seniors in the industry, etc.
There could also be some options from a commercial bank or investment bank.
I know of a guy who ran a Mining and Metals Group at one of the large commercial cum investment banks who moved to a mining company as a treasurer.
You also have to decide whether achieving your career goal requires another notch in your academic belt. MBA or professional qualification? When to get? How it fits in with your career plan?
Finally, situations change and people change. So you want to build some flexibility into your career plan so you have options.
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