How to break into Finance
Long time WSO reader but first time posting, so please bare with me.
I recently graduated a Top 50 public college with an Economic and Political Science major. I was part of multiple clubs and was held multiple positions in my fraternity on campus. I had a 3.5/4.0 GPA and interned at a Commercial Bank the summer after my junior year as an analyst where I mostly helped underwrite loans and build financial models.
My resume is pretty solid IMO and I get a lot of interviews and make it to the final round but I have not gotten an offer yet. I relentlessly try to network through LinkedIn and my school as well as applying to posts on Indeed and through my career center. What really gets to me is that I have a family member in IB and yet I can't get any help.
At this point, I am not really sure what to do. I am dying to know what I am doing wrong in these interviews, and I am not sure what to do other than the continuous applying on Indeed. I need to get real feedback and I need someone to deliver it without sugarcoating it for me otherwise I will never learn.
I would love to read some comments on what you guys struggled with and any tips you can throw at me. My ultimate goal is to somehow break into finance.
Learn to close the interview, do a mock interview.
Do you have any tips other than mock interview? I'm sure one of my biggest problems is closing so please help with some advice.
Have any of the IBs you interviewed for provided feedback to you in regards to why you didn't get the offer?
If not, you should probably ask them for areas you can improve on etc.
No, I constantly ask for feedback but never get any. Even when I have a connection in the firm, they don't provide any specific feedback.
Seems strange that if you have a connection with them, that they are not able to give you some sort of feedback - be it negative or not.
I wouldn't dwell on this so much, just chalk it up to not the right fit for whatever reason and just keep on moving, it could be a multitude of reasons.
There is no point dwelling on the mistakes of the past as it will hurt your current performance.
IB is a numbers game, so people get lucky, others have to keep pushing. Shows how much you want it if you can keep getting the rejection.
Coffee is for closers
mock interviews are quite important. There is a new mobile app available to study for finance / banking interviews called wall street fit. Has a lot of behavioral and technical interview questions as flash cards and quizzes that might help as well. Not sure where you are in your interview ability though.
I would start by getting a degree in finance from a school that is not for profit. Then I would get as much finance related experience as is possible. Have your resume reviewed by professors and anyone in your network. Finally, apply to everything that interests you.
breaking into finance / going for CFA chartership (Originally Posted: 06/24/2007)
Hi all,
Just wondering what your takes are on getting into finance (interested in PE/VC) as a tech consultant? I work for a pretty big IT firm, and have had trouble recruiting for finance/consulting in the past because of my strictly technical comp sci background.
As far as stats go, I had a 3.6 GPA in a top-ranked engineering program and a 1580 SAT score.
Also, how would going for CFA chartership help my chances? How heavily would passing the Level I weigh on my chances for securing a position in finance?
Thanks in advance,
Jeff
wait...you mean you want to work in a Technology program at an ib?that shouldn't be very intimidating...there's HUGE demand right now...and they pay quite well
looks like you could try to network with alums into a quant role on the S&T side...i passed level I CFA and was also applying a couple years out of school and S&T people liked it, shows a minimal level of commitment to get into the business and when you complete it it adds some credibility if your role is client-facing
Am I doing enough to break into the industry? (Originally Posted: 04/11/2008)
Hey, I am new to this forum and just wondering where I stand with respect to my competition for getting a S&T job at a BB. Could anyone tell me if I am set to get a lot of interviews or if I need to get my shit together:
Sophomore at reasonable target (J Hopkins/Georgetown/Northwestern/UVA, etc) 3.5 Math and Econ founder of small club, member of club contact sport (football/ lacrosse) plan on doing unpaid hedge fund internship this summer plan on cold contacting a few alumni at each firm to network
Is this enough or should I be worried? I fell like everyone on this board has the exact same stats as me if not better and the market really sucks. Will I get top interviews(gs/ms/jpm/mer/leh) without any sort of hook, family connection, or perfect GPA? Is there anything else I can do this late in the game, 1.5 semesters before recruiting aside from obviously boosting my GPA?
Thanks for the help!
dude you are straight just work on boosting the gpa a bit and keep following the markets.
your a soph.The markets are a mess a GS just announced they are laying off more..Do what can to get a intern anywhere you can...boost the GPA
maybe boost your gpa a little, but you should be fine just send emails to everyone you know and keep making contacts
Resume Review Please - Trying to break into the industry (Originally Posted: 08/11/2011)
Hey guys,
I am trying to break into the industry, even though I go to a terrible school. Need all the competitive advantage I can get. If you are interested in giving me some tips on my resume, please PM me and I will send it your way.
Thanks, Brandon
post it on 'razume.com' and copy the link to this forum. guarantee you'll get more replies.
send me the resume fucker
I have two versions, same content different styles. No sure if the Apple pages "Modern" Template is very appropriate though.
http://www.razume.com/documents/21369 http://www.razume.com/documents/21370
Wait did you write two articles for Seeking Alpha? Nice
Brandon Ogle, you didn't black out your name when you mention the articles you've written...
Does anyone wanna help me out???
the format could use a lot of work. I would recommend going through some of the other resumes put up and put it into a similar format, then focus on the details.
1) Definitely need to reformat it. Check out the Mergers & Inquisitions format - lots of people on here recommend it.
2) Make your GPA decimal points consistent. ie) 3.713 -> 3.71; use 2 points for your GPAs
3) What part of the industry are you looking to break into?
Advice On How To Break Into The Industry (Originally Posted: 01/28/2013)
Brief Background:
I'm a college senior majoring in economics along with a management minor. I don't go to a top tier school, just a small liberal arts college. I also don't have an outstanding cumulative gpa due to my party crazed freshman year. However my gpa within my major and minor is about a 3.4. I've had three internships in the course of the last two years. I recently concluded a month long internship for a top 100 (according to barrons review) independent wealth management firm in New York City; before that I was a summer intern for Pfizer Inc. at their world headquarters; and before that I interned for a small accounting firm in Westchester.
The reason I am posting this thread is because I have applied for internships and entry level positions to numerous firms that specialize in Asset Management, as well as some investment banks, but I haven't received any interest from their side. I know my cumulative gpa flat out stinks, and my school is not known amongst this industry, however I was hoping my prior internship experiences would compensate. I've even decided to begin studying for the CFA Level 1 exam for this upcoming June due in order to show that I actually am serious about this type of career choice. I've networked and I do have some connections, although not any that can help me break into the industry of my choice.
I have been offered to enroll in the EdwardJones financial advisor training program however the idea of being a straight up salesman right out of the gate isn't my first choice.
If anyone has suggestions on how to possibly break through this barrier I would very much appreciate it.
Firms won't really be hiring any full time analysts at this point in the year (seniors aren't taken for summer analyst roles). Maybe a one year masters program could be an option.
I have contemplated doing a masters right out of school but I talked to some admissions counselors and department directors of prospective MBA programs and they all told me that I would most likely need 2-4 years of professional work experience in order to even be considered.
Don't do the Edward Jones stock broker gig. You should do just about any other job that requires a college degree and it would be better than that.
Other than that, use the search function here....there are probably thousands of discussions on this topic.
anybody have any more advice?
MSF is not an MBA. Look into that. If you have your shit together it could give you a reset. Better school brand/OCR and you can wipe out the GPA. You have a decent foundation in internships, get one more in your desired field (whether it's IB or AM) and a master's and you will be way better off than if you took the Edward Jones gig.
I appreciate the advice
How to break into the industry? (Originally Posted: 07/06/2013)
I'm a rising sophomore studying Computer Science at a target school. I'm currently interning at a startup as a software developer. While I enjoy Computer Science and plan to stick to it, the pay isn't worth it (very few CTOs make it big). I spent last spring break at a capital management fund, and finance seemed pretty interesting, so I'd like to get an internship to see if it's right for me.
I'm taking an introductory economics class this Fall and an accounting & finance course in the Spring. I read headlines and browse through the business section of the WSJ. I have a good GPA, but I'm a stereotypical Asian nerd. I would like to work at a BB next summer if possible. What should I do to get started?
Network, network, network. If you have a friend majoring in business (a close one who would be willing to share his contacts), reach out to him. Go through alumni database. Get involved in a finance club. Have practice interviews with career services and learn to come off as a confident Asian (white people know Asians are smart, so showcase the hell out of that). Study technical questions. Apply to all BBs in the fall.
What if the hiring manager/interviewer is black? How should OP deal with that curveball?
If the hiring manager is black, OP should recognize that dick sizes don't measure how successful one can be in finance. Put the dicks aside and start talking business. FIRM handshake. Make sure you look outstandingly sharp. Good thing about being Asian is that usually, your looks incorporate sharpness.
lol....OP, to summarize:
Seeking Advice on breaking into the industry (Originally Posted: 12/05/2013)
Hey Everyone,
Been following this site for a couple of years however, this is my first post. I'm from Toronto and recently graduated from a target school. I'm currently working at one of the big 5 banks in an analyst (back-office finance and risk related role. Have another BB's on my resume (co-op, think big 5 in Toronto) for back-office finance related jobs. Also have some sales experience (internships) at F500 companies.
With that said, I'm looking to break into capital markets - preferably on the sales and trading side. I understand that I made some mistakes over my undergrad degree - should have started to network much earlier however, instead I decided to focus on trading FX and spent majority of my time doing so. Made some good money, however didn't materalize anything in terms of a full-time job relating to capital markets. Getting MBA is in my plans, however, what advice would you guys have for me in my current position? I'm ideally looking to break into a fulltime capital markets related role pre-MBA and then getting an opportunity to restart my career options. Looking forward to hear your opinion.
Thanks,
I'm guessing you're not doing back-office risk analytics for the S&T side?
MBA is a good option because it opens the door for internships again, which is a pipeline for a FT position. However, networking is also something you should focus on. If you can demonstrate your skills, knowledge, and drive once you're in front of interviewers, then all you really need to do is secure that interview in the first place.
How to break into the Finance Industry? (Originally Posted: 12/20/2013)
Hi all, I'm looking for advice on how to begin in the finance industry. As an introduction, I am currently a sophomore at a top 10 US college (target) with about a 3.45 GPA (this includes a number of honors level math and econ classes, which I feel should account for it being a tad low). I was previously set on working for the government or going to graduate school after college, but have decided to consider finance as a career path this year. The problem is, I don't have any relevant experience for the finance industry and no technical knowledge either.
Looking through WSO, I have noticed that finance internships seem to depend heavily on interviews and the technical questions (like modeling) asked in these interviews. How and where can I learn how to answer these technical questions? I have been looking at online material such as macabacus - would that be enough?
I would greatly appreciate it if you guys could list some of the ways you got your first internship without experience or even maybe some programs that are willing to take people without finance experience, but solid quantitative skills, at my GPA range. Please note: I am really more interested in learning and gaining experience this summer than prestige and money; I am also looking for internships within my range. Thanks for you help!
Start reading: http://www.wallstreetoasis.com/frequently-asked-questions/getting-a-job
You need a higher GPA. Being a target doesn't mean much when there are countless other students at target schools with higher GPAs.
If I've learned anything, you need to have a legit story. If you are really passionate about breaking into finance, you'll do anything. I started off as a bio-chem major, switched to social science but I've still been able to land consulting internships, finance internships at a F500 company and am geared toward a PE internship. You just need to show that you really want it and that you are bright enough to be taught what needs to be taught.
Determined Undergrad Breaking into the Finance Industry (Originally Posted: 04/27/2014)
Hi All,
My name is Jason Quiles and I am a rising senior at Syracuse University. I am dual majoring in Information Management and Technology & Finance. I understand I don't attend a target school for the Finance Industry but I successfully obtained back-to-back internships with JPMorgan, however, within their Corporate Technology function.
After accepting the offer for JPmorgan Asset Management Technology this summer I realized my passion is Finance. I am interested in the buy-side specifically within Asset Management but I am not clear on how to begin my quest of obtaining a position in the field. I understand it is difficult to transition between different fields as I am trying to do but I am willing to put in the work necessary to perform the switch.
Any help is appreciated and I am glad I decided to join WSO in order to network and learn from others!
welcome please enjoy your stay
Welcome. As a first tip, I would recommend trying to remain anonymous in the future if possible.
Why? He hasn't said anything damaging. I would relax and loosen the belt.
Help on how to break into finance industry, brief resume attached (Originally Posted: 02/01/2015)
Submitting this on behalf of a friend, he has been struggling to find a job in finance, and wanted to see what insight this board could bring. My friends brief resume:
MSF in Finance (Big state university, he was in the first year of the new MSF program). BS in Finance (the same Big state university, nothing super prestigious, around the same tier as Drexel or Auburn). Did not do a finance related internship in either undergrad or grad. GPA was not stellar in either MS or BS, slightly above the 3.0 mark in both. 2 Years at Merrill Lynch as a Financial Advisor. Series 7 & 66 Licensed.
Long story short he wanted to be analyst or work in IB, could not find any work, got a lead on being a financial advisor at Merrill, which in his words was a glorified salesman, did it for 2 years, didn't have much luck, and currently left the job to help out a family business.
Again I know nothing about finance, and am not the person with the resume, please post any leads you can do to help. What can he do to somehow get to being at the analyst level, does not have to be at some well known firm, should he start by getting into a small company doing accounts receivable? Recruiters? Any leads are appreciated. I know his resume is not the greatest, no finance internships and low gpa are really a killer. But it seems better then joe blow with an english/poly sci major. He is really big on numbers/quant metrics and regulation, not really the most social butterfly.
Location is the bottom half of florida.
Thanks everyone
Hopefully he is working in finance for the family business and put it on his resume without saying it's the family business. That could help him land a corporate finance role at another small or medium sized company and make a career out of corporate finance. Else he could look for financial analyst work in government like pension, state school endowment fund or municipal bond fund management. Also mortgage lenders to see if I couldn't trade mbs.
Hopefully he is working in finance for the family business and put it on his resume without saying it's the family business. That could help him land a corporate finance role at another small or medium sized company and make a career out of corporate finance. Else he could look for financial analyst work in government like pension, state school endowment fund or municipal bond fund management. Also mortgage lenders to see if I couldn't trade mbs.
anyone else? Thanks
Hopefully he is working in finance for the family business and put it on his resume without saying it's the family business. That could help him land a corporate finance role at another small or medium sized company and make a career out of corporate finance. Else he could look for financial analyst work in government like pension, state school endowment fund or municipal bond fund management. Also mortgage lenders to see if I couldn't trade mbs.
Breaking into Industry!! (Originally Posted: 04/20/2015)
So I am interested in making a change to investment banking within the next year from corporate finance and operations. What is the best way to approach going about that? I have been out of school for about 6 months and my degree is in Finance with and analysis concentration. Any help is appreciated!!!!
Thanks, ~Em
!!!
Advice on breaking into the industry? (Originally Posted: 08/26/2015)
I graduated with a BA from Pepperdine with just under a 3.0 GPA. I have about 3 years of work experience in an unrelated field and am looking to break into the industry. I have experience trading, a good understanding of the capital markets, and a basic understanding of corporate finance. Ideally, I would like to start out as a stock broker but (1) I'm having a hard time landing an interview with my resume (2) there don't seem to be a lot of job openings which I qualify for. Any advice? Thanks
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