2/22/12

A little background:

I come from a non-target with a low gpa (above 3.0 but below 3.3)
I have a bachelors in finance
I am determined to break into the IB industry

I have a phone interview with a guy that has done IB, PE, HF, and everything in between including working as a recruiter. The interview is this weekend and If I can do a good job then he will forward me to some of his current recruiters as-well as some current bankers.

I am working on preparing as well as possible and have thus far done the following

-Reading through both the behavioral and technical question guide from WSO
-Reading through Rosenbaums, "Investment Banking: Valuation, LBO, M&A"
-Doing extra studying on EV, EBITDA, and WACC
-Reviewing my resume and making sure I can speak for each item
-Browsing the forum and reading as much as possible to take in additional knowledge

I am currently about halfway through the behavioral guide and the IB book with 30 hours of combined time to finish them. Then I will quiz myself with some of the technical questions from the guide provided here. I am reading everything slowly and thoroughly.

Also incase it does not work out this weekend I have been working on building my network again. I was wondering if it is considered bad to network with people you may not know. I have very few alumnus from my school in IB and the few (less than 5) that are seem to ignore my attempts at speaking with them, may be busy or something though.

Is there anything else I can do to prepare? I am dedicated and motivated to break into the industry and stubborn enough to pick NYC as where I want to go. (also have a cousin that lives there so I could live for cheap and I am from the other side of NY )

Thanks for reading all of this.

Comments (12)

2/22/12

Expand your network.

Talk to more people. Keep at it.

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2/22/12

What would you recommend when it comes to networking with people that you have no real connection to?

I ask because outside of my interview this weekend and my buddy at W&M I am left with no related party networking contacts. I think there is a good chance this weekend will lead to more though.

2/22/12

From my experience it's exactly like picking up chicks...aka a numbers game. Shotgun approach to everyone remotely related to the industry, BUT BE SINCERE, and hound those that have a pulse. People will talk to you, most will ignore you, but if you contact 1,000 people a month you will have leads.

If the glove don't fit, you must acquit!

2/22/12

A little more background info would be helpful:

1. How "non-target" was your school? If it's a big school, there will definitely be more alumni in the industry, so keep searching. Also, if you have no other option but to contact people you have no connection with, I would definitely make that effort. The worst that can happen is that they ignore your emails. And of course be polite, respectful, and courteous, but all that should go without saying. Additionally, you should pick up The WSO Networking Guide. When I was trying to break in, my response rate definitely increased having read it.

2. When did you graduate? The further out of school you are, the tougher it will be to break in unless you go to b-school.

Again, as WalMartShopper said, this is a numbers game. I'm convinced almost anyone can break in with the right attitude, tools, and luck. Just keep your nose to the grindstone.

"Rage, rage against the dying of the light." - DT

2/22/12

@WalMartShopper: Is there a chance that talking to the wrong person could hurt my employment opportunities? If I find a VP or MD on LinkedIn and contact them could it hurt me if they felt like I was trying to use them?

@Aragorn: My school is very non-target but large in size. I have found about six or seven people in the industry but I do continue to look. I graduated last May. I will get the networking guide and review it this weekend.

That guide will likely benefit me because I feel like I word my initial contact message wrong because I do not get very many replies.

Is it better to use LinkedIn or find work e-mails and send my initial contact there?
Other help and advice appreciated!

Thanks

2/22/12

These days, even Ivy kids are having trouble breaking in. You really should be more open to non-NYC finance jobs. If you're single, there is absolutely no reason why you shouldn't be able to move somewhere for a job. Remember, there is finance outside of NYC. And if for some reason you can't move, then you could leverage those other offers to help you land something in NYC.

Calling Ron Paul an isolationist is like calling your neighbor a hermit because he doesn't come over to your property and break your windows.

2/22/12

Network, Network, Network. Feel free to PM me, I come from a non-target as well, sub 3.5 GPA, liberal arts major and was able to land a FT MM IBD position.

XX

2/22/12

Leonidas:
Remember, there is finance outside of NYC. And if for some reason you can't move, then you could leverage those other offers to help you land something in NYC.

The idea of spending months trying to network your way in as a non-target, only to get an offer and then "leverage" it (whatever that means) into an offer in NYC seems incredibly farfetched. Are these NYC banksers that didn't give him the time of day suddenly going to just start throwing offers his way without weeks or months long interview processes?

If you are a non-target with no relevant experience and you manage to get an offer and the place seems at least somewhat legit, take the offer and worry about networking into a better position after you've been there 9 months to a year.

My name is Nicky, but you can call me Dre.

In reply to aempirei
2/22/12

aempirei:
Leonidas:
Remember, there is finance outside of NYC. And if for some reason you can't move, then you could leverage those other offers to help you land something in NYC.

The idea of spending months trying to network your way in as a non-target, only to get an offer and then "leverage" it (whatever that means) into an offer in NYC seems incredibly farfetched. Are these NYC banksers that didn't give him the time of day suddenly going to just start throwing offers his way without weeks or months long interview processes?

Obviously, that is an unlikely scenario. I was simply saying that if he could not move (if he had a wife and kids), then that is his best (and only) shot at landing a finance gig in NYC.

Calling Ron Paul an isolationist is like calling your neighbor a hermit because he doesn't come over to your property and break your windows.

2/22/12

@Leonidis: I agree, I am going to work my ass off so I am going to aim for NYC but I could also do DC, richmond, and Boston as I have a means of getting there with ease. Also, that should open up the amount. How hard is it to move from one of those places to NYC in the future after working as an analyst?

@Pike: I have pmed you. I would love some networking tips. I am looking to either do an off season internship or maybe a fall internship to get my foot in the door. I would love a FT offer as an analyst but don't they usually require at least some internship work first?

@aempirei: How easy / hard is it to work your way from outside of NYC to inside it? I want to be there for the job but also because I am from NY, and I enjoy the city even with the minimalist amount of free time I would have.

@Leonidas again: If I have the knowledge base required to be an analyst/ intern as an analyst and can prove that, my motivation, drive, and work ethic. How hard would it be if I went extremely small time firm and worked my way into a more known Boutique or MM firm?

2/22/12

IMO, getting a finance gig when you already have one is exponentially easier. To get a strong finance base, you should consider heading over to M&I and purchasing the BIWS package, or getting the WSO one. In terms of difficulty, moving from non-NYC to NYC is quite challenging, and so is moving to a bigger/better firm. I'm not going to sugar-coat it, it will get hectic. But you shouldn't give up.

Your GPA will hurt you considerably, especially since you're from a non-target. Make sure to have an iron-clad reason why you don't have a 4.0.

Best of luck.

Calling Ron Paul an isolationist is like calling your neighbor a hermit because he doesn't come over to your property and break your windows.

2/22/12

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