Evaluate my situation
Hey guys,
I'm a long time reader, but first time poster... I recently graduated from my undergrad (not a very highly reputable school) and I didn't do so well either. During the course of my studies, I didn't apply myself, nor did I do any relevant internships with IB, BBs or anyone for that matter... My program was at least specialized in Finance, Investment & Banking, but I guess I was more concerned with other things in life and kind of neglecting everything related to my career. Bad start thus far, I know.
Anyways, I am still dedicated to break into one of the big fields (IB, Hedge Funds, PE, S&T) despite the circumstances, and trying to figure out how. I am currently looking at an offer from SS as a Fund Accountant. Now, I have read what's been said about this position, but considering my situation, my plan is as follows. I am not a dumb guy and have been hitting 700+ on practice GMATs, I speak several languages (english, german, polish, and learning spanish), and teamed with the fund accounting experience, I hope to get into one of the better uni's in Europe for an MSc in Finance (Bocconi, Erasmus/Rotterdam, Copenhagen, IESE, IE, etc)... This 1 year MSc Finance would give me an opportunity to refocus and reset my GPA to something really high. It would also give me the chance to do a relevant internship with someone in the game while I'm studying. Assuming I can do this, what are my chances of getting into IB?
What else should I be doing? I would greatly appreciate any advice. Did I completely fuck myself and now my goals are hopeless or what? Also, does age start to really play against me? I'll be 25 when I finish the MSc Finance....
Sounds fine mate. Language matters more than most, The fact that you speak 3 means you are a valuable commodity.
How shit did you do at university and what university did you go to? Problem is bulge brackets will toss you if it isn't a 2.1 or equivalent. Regardless of what you've done.
Doing the MSC is perfect and if you have a good grade and good name at the TOP of your resume, it is easier for a CV sifter to disregard your earlier misgivings.
Hitting 700 on the practice GMAT doesn't mean much i'm afraid. The GMAT is an adaptive test so as you get more right, it gets harder. DO the GMAT and if you get your 700, it is definitely a step in the right direction.
Networking is the key my friend, go to all of them as the people you meet at networking events are also the people who will be sifting through the first round CV's. Give a good impression and they will fight your corner. Second, network through family and friends. My mother had an old school friend who works at UBS in Russia and he managed to get my dogshit CV through into the interview process (where I ended up getting this internship, many years ago) when I got dinged from at least 10 other bulge bracketers.
Age won't play against you until 29, this isn't the worldwind years of banking - people think that the path to success is straightforward. Take a look at this: http://www.bluemaumau.org/files/u9/success.png
Get focussed get your MSc and get networking - then you'll succeed.
Much love
I greatly appreciate your response my friend. Its what I needed to hear. Besides, even with this fund accounting gig, i'm still gonna keep looking for something better... a relevant internship or better position... but i can't afford to lose time without making any money at this point...
as for how shit i did, it was pretty shit... I studied at Carleton University in Ottawa, Canada... did an int'l busi degree concentrating in Investment, Finance, & Banking, with a Minor in Economics and one in German... my gpa was 7.8 on a 12-point scale, which is about a 3 on a US 4 point scale, and about a 2.2 on a british scale... its not at all what im capable of, and i'm sure i can be a 3.5+ (2.1) type student, thats why i'd really want to do one of those 10-12 month MSc's so that I can reset my shit... european schools are also a lot less competitive, so I'm sure I can get into one of the better ones... i've talked to a few and they said the GPA won't disqualify me, and that the GMAT, work experience, motivation letter, recommendations and languages are major factors... I know several ppl that went on to work at places like JP Morgan/Credit Suisse/etc as Investment Analysts and they graduated from top POLISH uni's... i feel those polish schools are essentially safe schools for me here, so i DO believe I can still make something of myself...
and i might just make that picture my new desktop background...
Ace the GMAT and you should be able to get into a good Msc, and then it's fair game. Only advice I have is try figuring out what you want to do. In all honesty, people in IBD are less elitist than one would think (at least some), so one year (don't stay longer obv) full-time experience in accounting coupled with languages and a target master etc will make you stand out and I'm sure you'll get a couple of interviews. The one thing I'd make sure though is to figure out quickly what you want to do. I met someone in a similar spot, saying you want to break into FO finance regardless of the field never ever ever works if you come from a non-traditional background like your's. So try to find that out and focus on that. I'd guess your best shot is IBD as your accounting skills would be somewhat relevant. If you present well and have good people skills Sales could also be an option due to languages.
1) The 2:2 will prevent you from getting into the programmes at the main Investment Banks in London even if you do well on the MSc. 2) Your bet is then boutiques and middle market institutions, but they hardly recruit people from unis outside the UK. 3) Forget about Europe and get your ass into a UK university: Oxford,Cambridge,LSE,Imperial,Warwick,UCL,CASS will do the trick.
The 2:2 rule usually isn't really enforced if you're not from the UK, because you have a different grade scale and it's harder for them to ding you on that regard. Also, from what I've seen for BB IBD recruitement euro target schools like bocconi, sse, edhec, hec, st. gallen, etc seem to be wayyyyy more represented than warwick, UCL or Cass. I get your logic as you say he's an autoding for BBs blabla but due to languages he can also look into Frankfurt and Zurich recruiting, and from a good euro target he'd get at least a decent chance imo. So considering that I'd heavily recommend getting into the best school possible in europe.
No offense but what makes you think that you are so capable of just switching it on and being a 3.5+ student?
Quam assumenda consectetur ea. Sapiente quia amet voluptates reprehenderit quis et neque.
Reiciendis nam corrupti nam repudiandae corrupti at. Quam velit aut dolorum sapiente. Tempore quos aut impedit assumenda iusto nemo perferendis.
Sit necessitatibus ea quo at esse. Incidunt in sunt sed.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...