The biggest issue is that you missed the normal window for internships at large banks that lead to full-time offers (normally you apply for these at the start of your 3rd year and complete them in the summer after). If you want to win the types of roles you mentioned here, and your upcoming internship is at a law firm, you will probably have to go for off-cycle internships at smaller banks / PE firms in the UK and then leverage those to apply for full-time roles afterward.

This is a really helpful guide! I have a question if you don’t mind. I’m an accounting undergrad in my junior year (UK based). I’ll be doing a Summer internship at a leading magic circle law firm where I’ll be working on PE, M&A deals etc. I also have audit experience at a Big4 accounting firm and worked as an investment analyst for an unknown firm. I want to break into AM, PE, IB, buy-side investment roles etc. How can I leverage my experiences to get roles – I haven’t had any luck with Summer Analyst positions so far.

Kind regards,

M.

Thank you, that would make sense after all given the nature of the work.

This is not a common path into IB roles, so no, not really. I’m sure some people have done this in the past, but your chances would be higher coming from a corporate law job (for example) or even something like a credit rating agency. You might be able to win some type of middle-office, risk, or compliance role at a bank coming from a regulatory agency, though.

Would you say working for a regulatory authority for a few years (Ex. SEC; FINRA) out of college can position an individual for an associate role or any Front Office role at an Investment Bank?

You don’t have a great shot because those certifications mean nothing next to a real university degree or traditional MBA combined with deal experience at a top bank, and the Canadian IB market is *tiny* and is extremely difficult to break into as a university student, let alone a career changer.

If you want a good chance at making this transition, forget Canada and aim for roles in Europe and the U.S. to take advantage of the bigger market and increased lateral hiring. Oh, and the hiring market in finance (and tech) is currently terrible, but these things can change quickly.

https://mergersandinquisitions.com/investment-banking-in-canada/
https://mergersandinquisitions.com/lateral-hiring/

Recently, I have been planning to move to Canada and since I cannot practice law immediately in Canada without being licensed, I have been seriously considering transitioning to Investment Banking.

Last year I obtained a Global MBA from London Executive Education Academy, now Web 3 Business School; similarly, I got certified as a Financial Modeling and Valuation Analyst by Corporate Finance Institute Canada. I must confess the calculations could be bewildering for my background.

Do you think I stand a better chance of getting into IB in Canada with my background and recent upskill in the business and finance world?

Yes, corporate law is always a good background if you want to move into IB. Studying for the CFA will help a bit, but you don’t necessarily need to pass even Level 1 or attempt the other levels.

I am currently a law student and I am interested in moving to IB.
I have gotten a job at a top corporate law firm with their banking and finance team. Do you think if I work as a banking and finance lawyer for sometime, will it interest the hirers from IB more?

Also, do you think if I pursue CFA Programme, will it be advantageous for me?

I agree that it’s generally easier to move earlier rather than later, but that’s true of any career transition. I’m not really sure how a lawyer with no deal experience could start a bank or investment fund, but sure, maybe, I guess?