Ok here is my story:
I'm graduating a non Ivy League School ( William Paterson University - it is accredited in AACSB - The Association to Advance Collegiate Schools of Business) in 4 weeks with a degree in Finance. I got a 3.0 GPA. I had the same steady full time job during my 4 years of college as a Supervisor at Best Buy in order to pay for my tuition, so I never was able to do an internship.
Now here is the big catch - I made a HUGE mistake when I was younger, I got arrested for doing something, but the case got dismissed, so I got arrested, but NEVER convicted. I'm eligible of getting it expunged from my record in the next 6 months.
I'm very passionate about financial field, and I am looking for a job in the field perhaps as an entry level analyst or an associate. Just not financial sales.
In my situation what would you recommend me to do especially that I have been arrested previously, but never convicted of a crime. This is my main concerns, so if anyone can give me any career advice, id be really appreciative of it!
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Your odds are not good at all. Your GPA is about .5 lower then the average from what I've heard. I may be wrong (I'm still in college), but I think most people will agree with me. Did you get arrested for running some major underground casino, because that would help you stand out from other applicants...
It's a case by case question, so you should consult a lawyer. It really depends what your "crime" was. For instance, here's the question I received on a job application:
Do you have a record of any arrest or indictment for any felony, or any misdemeanor pertaining to securities commodities, banking, insurance, or real estate (including, but not limited to, acting as or being associated with a broker-dealer, investment company, investment adviser, futures sponsor, bank, or savings and loan association), fraud, false statements or omissions, wrongful taking of property or bribery, forgery, counterfeiting or extortion, and the disposition of the foregoing?
OK, well I was indited for distribution of narcotics, the case never went to trial, so it got dismissed, and I can have it expunged completely from my record in 6 mnths, meanwhile on my record it says "Case dismissed"
And let me clarify something, I guess I think Ill be lookin for an entry level job to have for about a year just to get some expereince, and during that time Ill be able to get my arrest expunged from my record. I guess Im trying to figure out my next step this point on...
P.S Im not "Seth Davis" - underground casino would be his speciality hehe
Yea, your prob not gonna be in a good position at any larger bank. You should also probably talk to a lawyer about the legal issues, depending on the seriousness of the alleged offense.
I would go ahead and suggest that you use your energy and drive in a more entrepreneurial pursuit. I'm just not sure banking is for you. That is if this post isn't a joke....
And why do you say that banking isnt for me? Im highly interested in the field, and Im highly motivated and I love to learn. And Im planning to get my Masters as well.
Obviously you don't know much about the industry, as shown by the fact that you are graduating in 4 weeks and just decided to look for a job in finance. You may as well be highly interested, highly motivated, and love to learn, but there are hundreds of other applicants who came from better schools, with better grades, with better experiences, who are also just as interested and motivated.
Your best bet is to look for something else finance related, like a smaller independent shop (IB, brokerage, etc) and shoot for your MBA at a top school 4-6 years down the road.
This may be the only route unless your uncle is a MD at a BB. Which would be a different story then. Remember its all about how you finish, not necessarily where you start. After MBA from a top school, you are at the same starting line with others.
If the arrest were to ever come up in an interview, best bet is to be honest. However, on your applications, read the questions being asked of you carefully because chances are that you will not have to disclose it . . . unless you are going to work for someone who has any sort of backing by the US Government.
Thanks for an informative reply! I do hold honesty in the highest regard myself, so I guess Ill put my cards on a table if necessary and roll with it. And I never said I’m the guru of the financial industry - that’s why I’m asking advice from you guys! Everyone makes mistakes and everyone has a different path, I unfortunately wasn’t able to get an internship or a job in my fiend during my college years ( if I could - I would of done it) for various reasons, and I started looking just recently because this is the time I’m able start.
I still do not understand why you have just begun your search. You realize full-times were hired last fall, right?
This is such a fucking jopke.
Dude- relax about these clowns giving you a hard time. The best thing to do if your arrest comes up is to just tell the truth. Like the posters above have said,...most firms have hired. With that being said, try to make as many connections as you can, and go through the process of interviewing asap - if you can get an interview, lunch meeting, or a phone conversation, it will be good experience. If you cant, then at least people will know who you are when you re-apply. Stranger things have happened. If you really want to make this happen, you will find a way. You might have to settle with a position and make a transition down the road, but it will work out - things always do.
Thanks man, it means a lot Most of the clowns who criticize never knew what its like to be out supporting yourself and paying for your education out of your pocket since 18 yrs old. It must be good to be privileged and have parents buy them a new car and pay a few hundred thousand dollars for their school. Too bad that doesn’t build character or define a man.
I agree with everything Bucs said, if you really want it you'll find a way. Also, I was just wondering if I should persuded a degree in Master of Economics? How much better of a chance can I get into I-banking with that compared to just a BS in Economics?
I'm from the NYC area. William Paterson is not a good university. With a degree from there, you honestly should have a 3.5 at least to stand a chance at any decent job, even outside investment banking. The arrest is incidental to your poor academic record to be perfectly frank.
fp175 sums it up dude, the ship sailed for you sometime in high school or possibly junior high
what is that supposed to mean?
Agree with the top poster. Perhaps you can advance your career with Best Buy? Managers at retail stores always need some sort of financial sense.
Probably even become a District Manager or something. Have you seriously thought about staying at your current job?
Like most people said, it's great that you like finance. But there are people out there who have not been arrested, have gone to a good school, got a high GPA, did extracurricular activities/on varsity teams, and got a summer internship at a BB. And above that, they like finance as well.
Probably talk to your Manager at Best Buy. Most corporations, if you want to go into industry, have corporate opportunities for grads.
I'd check alternatives because of your specific situation.
Good luck as well.
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