GPA for a Sales Position in S&T and How Hard It Really Is?

Hey guys,

I am new to WSO.

I just wanted to ask how hard it really is to get a Sales Position in S&T? I am a sophomore and will be interning with Goldman - Asset Management (Sales) this summer and I had applied with a 3.8 GPA but now my GPA is 3.61, because of a course that I nearly flunked.

I want to switch to a Sales position in S&T next year. Will they look at my GPA?

Please let me know your thoughts.

 
megafundguy:

know a guy with a 3.1. S&T doesn't care about Gpa or pedigree its about ability.

Totally untrue. GPA is very often an indicator of achievement and ability. You should be smart enough to prioritize what's really important in life. Just like on the trading floor... Do what you want on your time off and act a fool, but don't let it affect your work.

Don't listen to morons on this site that barely squeezed by.

 

Do you know anything about BlackRock? Going to need to be a lot more specific. For which group? What exactly do you want to be doing. I'm reasonably sure there isn't a position called "sales" per say. Also, Goldman Sachs and BlackRock aren't exactly aren't comparable companies.

From the sounds of it, you're still really early in the game, just concentrate on getting that gpa as high as possible and worry about the requirements come junior year.

 

Sorry, forgot to mention.

Yes, institutional sales - in terms of handling clients, pitching stocks to them, etc.

Please let me know if you have some idea.

Thank you.

S18H01D06
 

Sales is probably the least academically selective subfield I've encountered in finance, just going off the backgrounds of the sales people who cover us. Like JS said former athletes abound.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 

That is not really a field you enter into straight from college. There are a few analyst programs, but they are very selective depending on the firm and type of institutional sales. Even if one entered into this type of program it would be eons before you began even pitching at small businesses.

Institutional sales people are very senior, and extremely well paid. The sales people who advise 1bil plus companies will be the brightest of the brightest.

 
Best Response
turtles:
Buddy of mine with a 3.0 has an offer from ML PWM

We're talking institutional sales here. PWM is basically just financial advisory. It's more about how many high quality clients you can bring on than the actual financial knowledge. At most you will have to pass your Series 7, Life & Health, and know the basics of investment risk and portfolio management.

Institutional sales require usually at least 5+ yrs of experience, CFA/MBA, etc. The two positions are not even in the same league.

 

Rothyman-the sales desks that cover us have analysts straight out of undergrad like any other bank group. They may not have their own clients yet but you can definitely work in institutional sales without previous experience.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 
Kenny_Powers_CFA:
Rothyman-the sales desks that cover us have analysts straight out of undergrad like any other bank group. They may not have their own clients yet but you can definitely work in institutional sales without previous experience.

Right, I mean of course there are analysts who may work close to institutional salespeople on the floor, but you usually don't say you are in 'institutional sales' unless you are physically meeting with the clients, wining and dining, etc. The credentials for these individuals are much more than any undergrad degree..

If I could have gotten an analyst role near inst. sales out of undergrad I would be on could 9.

 

Most (all?) of our primary coverage are VP and up; the junior people (analysts and associates) seem to be mostly responsible for assisting the more senior people, they'll pick up the phone if the senior person is busy and they man the desks/cover us when the lead is out. I assume that they are phased into "owning" their own accounts over time.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 

Well I dunno how comp works for the more junior level people, I assume they get bonuses like other junior bankers. I know at senior levels they get credit for making sales, which is why a lot of our salesmen love to try to cross-sell other asset classes. Junior people get to go out with clients sometimes, too, and are often at the larger receptions/parties that these groups hold. I've been at dinners/sporting events etc with people around my age who I assume are either analyst or junior associates.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 

Thank you everyone.

One question: I am interning at Goldman this summer for their Asset Management division (I am a sohpomore BTW). I applied with a 3.88 but my GPA fell to 3.64 since I ended with a 'C' for a horrible course (hate that course).

Next year, I want to shift to S&T (Sales - Equities). Will GPA matter a lot? Because even if I get A/A-s, my GPA is going to stay at 3.67.

What do you all think? I really want to experience Equities sales (because I think I really have what it takes for a salesperson) and I don't want to leave Goldman if they offer me another Summer position, next year.

Please let me know what you all think.

Thanks a ton.

S18H01D06
 

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