Any advice for recent grad from a not-so-top-flight institution?
I'm about to finish undergrad from UC Davis. Yes, UC Davis. We're ranked 48th on that US News survey for 2006. Anyway, is there anyway of getting past the fact that my school isn't Berkeley, Stanford, UCLA, or USC? We don't get any recruiters like those schools do and I'm having no success of Craigslist (SF or NYC).
Degree: Economics GPA: Not spectacular, flat 3 Extracurriculars: None, the business/finance clubs were fully of phonies. Work: Lots, 6+ since junior year in high school, promoted to management, etc.. Internship: None.
I've sent a few dozen resumes already to PE, HF, Boutique I-Bank listings on Craigslist and none have called me back ever.
Am I f'ed already?
well some people can overcome not being from a target school by having great grades & extras but even than it is a tough path without knowing someone. the fact that you have ok grades with no extras makes the search even tougher. to be honest I'd forget about HF/PE for now and concentrate my efforts on a sell side investment bank. it doesnt have to be a BB because all of these firms have already done their hiring for your class. id look to regional shops and middle market firms as the chances are better they could have an opening. also just sending in a resume will never work you've got to hustle to get these jobs by networking & cold calling any contact you can find. it is a long and difficult path as I came from a non-target as well but it can be done. although Im not in a top group, Im in a front office banking role at a very good bank now.
I appreciate the advice, thanks anonymous..
Wouldn't cold calling annoy the recruiter hurt me more than it would help? I naturally assume he or she would be annoyed.
Leave a message and introduce yourself. A recruiting coordinator's job is to recruit and if they don't want to call you back, they won't. It doesn't hurt at all.
Was your work experience related to finance? If nothing works, try to get as much experience as possible and take the MBA => associate route. Of course, what school you go to will matter once again.
I wish. I work at a cinema.
There weren't many opportunities for glamorous summer internships at my school, and no banks came to our school.
i didnt mean to call HR as they are not helpful if you arent from a target. I mean dig around & find contact info of bankers and start to call/email people. To be honest 1 out of 20 may respond but you have to keep pushing forward. In the meantime I would find some kind of financial job bc if you tell them you work at the movies you f***ed no matter what imo.
My advice would be to get into any finance job you can ASAP (even if it's just as a mutual fund accounting guy, just so you can have something other than cinema on your resume). Work that job for a year and THEN start hustling. Try to find a job where you can focus on 'high finance' TRANSFERABLE SKILLS (finance, modeling, evidence of ability/wililngness to work long hours, etc). You'll be wasting your time applying to i-banks right now (BB or mid-market). You do not have great grades, no experience and can't show any focus because you're just starting to look now (most spots were filled back in November when people who were DYING to get i-bank, PE and HF jobs started tripping over each other to contact backs, recruiters, etc...). So, I disagree with the advice above, I don't think any effort right now will land you in a place that you're happy with. Focus on getting a realistic job right now, and then go from there.
I have a similar problem of bad grades.
I am doing a STATS & OR degree from a Univ of Waterloo. I have had lots of extra curriculars. I have held exec positions at quite a few few clubs as well in the past (not business clubs though). I have had relevant work experience in the field of finace, (doing reporting work for mutual funds last summer and as a Business Analyst this summer supporting the risk management group at a bank). Given my work experience, i can target for portfolio management group. However, I want to go for IBanking in M&A and Equity Underwriting.
The problem is that I have bad grades. My Cumulative GPA is 2.5 although the grades have been going up since 1st year. I'm thinking if I-Banking is a closed door for me or going for it is still a possibility?
I think in addition to a not very good GPA, you also have terrible grammar/spelling (I know it's just a blog, but come on man). I-Banking is, sadly, not for everyone. So many people that we interview are all "DYING" to work in banking and will do "WHATEVER IT TAKES." The thing, though, is that there are literally 1,000's and 1,000's of people with the drive AND the intellectual horsepower (sad to say, but undergrad GPA is the closest proxy we have for determining intellectual horsepower) and the "I had a bad first year, getting adjusted, etc..." excuse typically falls on deaf ears in I-banking.
You could maybe find a spot in a boutique or a satellite office for a larger bank, but a good group at a good bank seems very unlikely.
Just some honest feedback for you.
I wasn't just looking for jobs right now, I started looking in early Fall 2005 applying for corporate jobs, consulting, business analyst, etc... Scored quite a few interviews (though got none of the jobs).
I hadn't thought of getting into any sort of finance field until taking a few more courses and getting an interest in the stuff.
Cragslist in SF constantly has listings for internships/job listings for recent undergrads so I'm not sure how much, or why should I need any, financial experience to land something that's supposed to be entry level.
Most full time front office jobs require some sort of relevant internship, unless you are able to display an unusual amount of interest and knowledge of the industry and position.
There are basically 3 tiers of viable candidates for investment banking:
1) target school, excellent GPA, relevant internship 2) target school, lacking either GPA or internship, but not both 3) non-target school, with excellent GPA and relevant internship
If you do not fall in any of these, you will find it very difficult to break into investment banking at the entry level (short of having a family member or close friend in a high level position in the bank).
Your best bet, like other posters have stated, is to get yourself an internship or job in a finance related field, cold call alumni or contacts in banks and hope they go to bat for you. The unfortunate reality is that who they recommend reflects directly on them, and they may judge you as harshly, if not more so, than HR when it comes to how you look on paper.
Another option (but still an uphill battle) is you get good work experience in another job, ace your GMATs, attend a top rated B-school, and enter in as an associate.
apply to graduates of MBA schools? where the middle market co's target the state and second tier schools.
The thing is I have a decent GPA, decent work experience, decent extra-curriculars, a lot of business, accounting, finance, economics, mathematics and statistics classes, decent IT knowledge + classes + work experience. However, I go to a non-target state school (because i have scholarships that cover everything tuition, fees, room & board, health insurance etc.). But not only it is a state school, but also it is located in a very business unfriendly state (there is nothing but woods and lobster here). Moreover, the career center doesn't keep in touch with alumni much; so even harder to network (although I will try). Is there anything else I can do in this situation, any suggestions are welcomed?
you didnt really do shit in college, hate to be a dick but maybe you frankly, just dont deserve it or want it bad enough if you went through four years of davis and are still wasting your time on craigslist. "no banks recruit here" is not a valid excuse.
i go to a non-berkeley or LA UC, and i managed to land a summer internship at a level 3 boutique this last summer.
something i read a little while ago:
"Are you familiar with the story about Socrates where a young man came to him near a lake and asked Socrates to teach him how to acquire wisdom? Socrates grabbed the man and plunged his head under the water. As the young man struggled for his life, Socrates continued to forcibly hold him under the water. Finally, Socrates let him up to breathe, and when the man, gasping for breath, asked why Socrates nearly drowned him, Socrates replied,
Anonymous,
That is a wonderful quote. I'm saving that.
As for the original poster, it
sorry, I did a search but am still trying to figure out what HF is?
hedge fund probably
I would think so
Hope you guys can help. I'm looking to get into IB in trading or as a financial analyst. Is it effective to send resumes via internet or mail? I'm a 3rd year Duke transfer to a non-target southern school with a 3.9 GPA. What is the most effective way to get recongized?
It is best to do everything and anything that you can do to a chance at an interview if you do not fall into the three levels previously mentioned. You need to call, email, apply, email, and then call again until you get what you want. Preserverance is key my friends.
JMU ey? I've been up there a number of times. Hot chicks everywhere. I like it a lot.
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