Just Graduated, no Job, help.

Hello, so I'm just graduating from a non-target in the south. I have previous internship experience in commodities in New York, but I want to move into investment banking sector. I've applied to 60+ jobs and I keep hearing rejections, not moving forward with my application. I've had 2-3 responses but no offers. Consulting job, they never filled the position. Big NY firm interview, been a week and haven't heard back since the first round. Anyway, I'm freaking out that I will never make it into Investment Banking which I want to do, then move into private equity. At this point in time, what would be some good jobs I can get that would move me into investment banking? I want to move to New York. Problem: my GPA is 2.9

 

found myself in a very similar position about a year ago....about to graduate with no offers and tons of rejections. took about 6 months after graduation to finally land an offer, which was business analyst (ops) at a well known asset manager....leveraged the name and connections to land an offer in valuation. biggest advice is network like crazy, those job portals online you might as well send your resume into space. I probably would have graduated with an offer if I began networking in college instead of after graduation. Hope this helps

 

Well if you're in the south and your GPA is less than great, you should probably be looking at firms in the South. NY has plenty of local candidates. Why would they take you? (rhetorical question, but you get it). Look at firms in the south and lateral after you network more and get W/E.

"Even if you're on the right track, you'll get run over if you just sit there" - Will Rogers
 

Good stuff @Yacht Monkey". Get into a good routine as if you were working to keep yourself sharp and ready for a working life. Don't fall into a lazy sleep until noon slump. When I graduated without an offer that I wanted, I rose at 5am everyday, gym and breakfast before 7:30 as if I were working. My "work" was sending out emails, job searching, studying for CFA at the time, pay attention to current events as they happen. This helps keep you sane and sharp. It is okay to graduate without a job lined up, it happens to a lot of people. Don't start to panic until about 6 months of searching goes by without an offer/serious progress.

 

Wow. Thanks for giving me a lot of great strategies to help me out. I should follow up on the positions I applied for like you suggest. You've filled in that gap for me. I have contacts reaching out to other contacts they know, and have since been giving me their contact info, how do I go about asking them to help my job search? Do I just send that email like you wrote and play the slow game, or do I straight up ask them if they know of anyone hiring?

 

I am in same position, but graduated from a prestigious private school in the South. I haven't had any luck either, but you have had an internship. I have not since I was playing collegiate athletics...

The process has taken me about 5 months and nothing has fallen in my lap. You need to stay at it and try not to get down and upset about it. It happens on a daily basis but you have to push through it.

 

there is nothing wrong with not making it into IB right after undergrad. Its an incredibly hard sector to get into. Are you located in New York? In the south (i can speak of houston at least), experience in commodities would be hella good for a job down here. which commodities did you work for, if its oil and gas, did you focus on upstream, midstream or downstream? if youre not interested in still working in commodities, apply to a minimum of 5-8 jobs a day. dont just have a generic resume, cater it towards each companies description. i was like you when i graduated in 2014, didnt have anything lined up after graduation, eventually got a full time gig months later. its just a matter of being persistent and not giving up. best of luck

 

I am in a similar situation. Just graduated with a low GPA PE fund and another at a boutique IB, but neither company is looking to hire an analyst.

I plan on reaching out to as many people as possible via Linkedin and through cold emails with the goal of setting up a call. I have submitted many applications via job portals and based on my experience those tend to be black holes.

 

You could study for CFA/GRE/GMAT to make use of down time. Should sound like a productive activity in an interview.

I'll do what I can to help ya'll. But, the game's out there, and it's play or get played.
 

You do realize that the interview season in the fall is for the next summer's start date, right? If you're unemployed now and do receive an offer for MM IBD shop for FT, what exactly are you going to do from now until next summer, when the FT class starts?

 

Yes I do know, that's why in the mean time I plan on interning at boutiques IB & Capital markets(learning M&A, recap, debt and equity financing...etc the essentials i need for IB) while networking. So I can have something on my CV, while keeping my mind fresh with IB materials, so I won't look like I've been sitting on my thumb for the last 6 months.

All warfare is based on deception. - Art of War
 
couchy:
mudkipz:

too fixated on ur avatar but great contribution i think

i'm pretty focused on urs too -- i like mudkipz

so i herd u liek mudkipz? hoiw muchz?

"so i herd u liek mudkipz" - sum kid "I'd watergun the **** outta that." - Kassad
 

Off the subject of Pokemon, these graphs are some pretty heavy stuff. The worst seems to be that the percentage of underemployed people doesn't really decrease with age (unlike unemployment).

Obviously the stats don't directly state this, but it seems if you're underemployed at 22 you'll probably be so at 35 as well. Yikes.

"Yes. Money has been a little bit tight lately, but at the end of my life, when I'm sitting on my yacht, am I gonna be thinking about how much money I have? No. I'm gonna be thinking about how many friends I have and my children and my comedy albums."
 
SilvioBerlusconi:

Off the subject of Pokemon, these graphs are some pretty heavy stuff. The worst seems to be that the percentage of underemployed people doesn't really decrease with age (unlike unemployment).

Obviously the stats don't directly state this, but it seems if you're underemployed at 22 you'll probably be so at 35 as well. Yikes.

Right it seems 1/3 of college students will never use their degree.

I ran the numbers however and basically it is still worth it for these kids to go to college despite them not using their degree. Because if they're middle class, daddy can always find some office job for them, however shitty it is. Or if they're working class and below, the additional earnings potential still outstrips 100k + 4 years oppurtunity cost.

So, while I'm guilty of bitching bout the job market myself, i think the hard fact is that younger folk need to just settle with the lower pay, frugal lifestyle, and moving to a cheaper state. The people who are really fucked are the homeless, disabled, and living under subsistence.

The only case someone shouldn't go to college is if they don't want to study and work hard.

 

Haha, @ don't use their degrees.

I went to an extremely liberal liberal arts school. I doubt if even 1/3 WILL use their degree. One of my buddies went to school, chose english because he "liked to read" (granted he is an avid reader and I could see him actually writing something good), but is currently thinking of joining the Navy.

As of this summer, he is life guarding.

Too many kids think that they should go to college, when in reality it is not a real value adder to what they would want to do anyways.

"History doesn't repeat itself, but it does rhyme."
 

tons of kids i know from my college with mediocre gpa and work experiences graduated unemployed. some took horrible jobs in sales, and many others became 'volunteers' at no-name non profits. many kids with degrees in poli sci, history, or english ended up in retail sales-type of jobs.

and, many kids who were biology or chemistry majors who couldn't get into a med school are doing research-assistant type of jobs at hospitals, etc, for a minimum wage.

yeah, it doesn't look pretty. it's kind of interesting to note that from my school, there are kids who are making six figures working in high finance, top consulting, etc and there are many other kids who are stuck in dead-end jobs. yet, all of us went to same college, took many of the same classes, lived in same dorms, spent the same amount with tuition money, etc.

 
IvyGrad:

tons of kids i know from my college with mediocre gpa and work experiences graduated unemployed. some took horrible jobs in sales, and many others became 'volunteers' at no-name non profits. many kids with degrees in poli sci, history, or english ended up in retail sales-type of jobs.

and, many kids who were biology or chemistry majors who couldn't get into a med school are doing research-assistant type of jobs at hospitals, etc, for a minimum wage.

yeah, it doesn't look pretty. it's kind of interesting to note that from my school, there are kids who are making six figures working in high finance, top consulting, etc and there are many other kids who are stuck in dead-end jobs. yet, all of us went to same college, took many of the same classes, lived in same dorms, spent the same amount with tuition money, etc.

that honestly sounds pretty scary considering you're from an ivy...

 
couchy:
IvyGrad:

tons of kids i know from my college with mediocre gpa and work experiences graduated unemployed. some took horrible jobs in sales, and many others became 'volunteers' at no-name non profits. many kids with degrees in poli sci, history, or english ended up in retail sales-type of jobs.

and, many kids who were biology or chemistry majors who couldn't get into a med school are doing research-assistant type of jobs at hospitals, etc, for a minimum wage.

yeah, it doesn't look pretty. it's kind of interesting to note that from my school, there are kids who are making six figures working in high finance, top consulting, etc and there are many other kids who are stuck in dead-end jobs. yet, all of us went to same college, took many of the same classes, lived in same dorms, spent the same amount with tuition money, etc.

that honestly sounds pretty scary considering you're from an ivy...

I go to an HYP and the majority of seniors I know just graduated unemployed. A few are taking minimum wage jobs that you wouldn't even need a college degree for, let alone an HYP one...

 

I'd like to see some statistics for the number of unemployed students who made an active effort during their UG studies to get internships, network, and interviewed at several places and still wound up unemployed.

I can't really take these surveys seriously because I don't feel like the students who maybe only had one volunteer internship position one summer or generally just thought job opportunities would present themselves to them upon graduation, and therefore made no effort to recruit anywhere, should be counted in the statistic.

 

Yeah, I was just thinking that. I am from one of the most non targets of all the non targets and landed a FO job because I really had to bust my ass (and got a little lucky probably too!). Sometimes I think about what I could've done given the resources, connections and recruitment of a target or even semi target.

"History doesn't repeat itself, but it does rhyme."
 
StryfeDSP:

I'd like to see some statistics for the number of unemployed students who made an active effort during their UG studies to get internships, network, and interviewed at several places and still wound up unemployed.

I can't really take these surveys seriously because I don't feel like the students who maybe only had one volunteer internship position one summer or generally just thought job opportunities would present themselves to them upon graduation, and therefore made no effort to recruit anywhere, should be counted in the statistic.

I hear you, but that data sounds impossible to clean because tons of kids get hooked up with internships by their parents but end up realizing daddy doesn't have enough pull for an real full-time job. A lot of kids truly picked the wrong major by accident, or get a huge culture shock when they realize their major is different in the real world.

There are many reasons why people don't get a job out of college, not just unpreparedness.

 
seedy underbelly:
couchy:
IvyGrad:

tons of kids i know from my college with mediocre gpa and work experiences graduated unemployed. some took horrible jobs in sales, and many others became 'volunteers' at no-name non profits. many kids with degrees in poli sci, history, or english ended up in retail sales-type of jobs.

and, many kids who were biology or chemistry majors who couldn't get into a med school are doing research-assistant type of jobs at hospitals, etc, for a minimum wage.

yeah, it doesn't look pretty. it's kind of interesting to note that from my school, there are kids who are making six figures working in high finance, top consulting, etc and there are many other kids who are stuck in dead-end jobs. yet, all of us went to same college, took many of the same classes, lived in same dorms, spent the same amount with tuition money, etc.

that honestly sounds pretty scary considering you're from an ivy...

I go to an HYP and the majority of seniors I know just graduated unemployed. A few are taking minimum wage jobs that you wouldn't even need a college degree for, let alone an HYP one...

HYP alum here. If you don't mind me asking, what was your major?

 

Hi Lin Li,

Based on your profile as you have outlined, I think it would help if you outlined which level you are targeting as you have 6 years work experience which would translate to Associate/VP level and you can't really jump straight into the deep end if you don’t have the experience or understand what the role entails.

In addition, it appears that you are overseas, is your communication easy to understand etc.? I.e. is your English clear and can you write coherently? I have had trainees who were excellent on Excel but working in finance is more than just Excel?

Just my two cents.

 

You're probably going to have to jump into an internship, temp, temp-to hire, or contract position for the time being to accumulate experience on your resume.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

I think at this point, it's clear that you are going to have to lower your expectations and get a job, ANY job. The Canadian finance market for grads is super competitive as you know and I while I don't want to sound too negative, a 3.3 GPA is really not competitive for what you are aiming for. So if a top front office job is what you want, you will have to take a multi-step process to get there. First, you need to get a job and some experience. The longer you stay unemployed, the worst it looks. So try targeting Big 4 advisory / TAS, corp finance, PWM and recently launched boutiques / investment firms (including search funds which are always looking for help, albeit for free). Ultimately, networking is key and you will have to broaden your outreach.

 
mtnmmnn:
Ultimately, networking is key and you will have to broaden your outreach.

Yeah, if you're at a target up there, alumni have to have your back, at least in getting interviews.

That's pretty much how alumni networking works. They open the door, you prove yourself and get in.

Good luck.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

I was at the start of my search but now I am open to working anywhere in the industry that could give me that experience I really need on my resume to show recruiters I have some idea of what I'm doing. Working on the buy-side is my ultimate goal but at this point I've accepted that beggars can't be choosers. Recently I've been debating whether or not I should start networking to get into IB since that seems to be the most typical path to ultimately end up on the buy-side.

For your second question, I did go through fall recruiting and as I mentioned in the OP, I was only able to land one interview but unfortunately that didn't end up working out. It was a great experience in itself and having made it to the final round on my first interview has given me the confidence that I'll do well going forward if I could manage to get more interview opportunities.

 

Hah, no offense taken. Yeah, it is. Just a combination of me going to community college and not caring, working almost FT to pay for tuition once I got admitted to an actual university, etc. Once I realized I wanted to be a Finance major, I had taken so many classes across so many different majors that my GPA wouldn't budge once I switched my senior year even though my grades for my major's classes were good. No one to blame but myself really... I wish I worked a bit harder in school but what's done is done at this point. I just have to work a bit harder to prove myself.

 

It really depends on the firm that you want to work at. If you are thinking MBB, Deloitte, Accenture and other big name firms, then the answer is likely no unless you have connections at these firms that can pull you in. As a non-target, I only got my interviews through connections and the rest was on my own. A 3.8-3.9 is good but not going to automatically get you noticed by a recruiter this late in the process (or ever in the process depending on the firm). To give you perspective, I was a 3.95 at a non-target and I likely only got to the interview round because of my connection and this was in December, the opportunities have only gotten harder to obtain since that point. My suggestions are to start networking as quickly as possible and start doing case prep in case you do get an interview because once you start the interview process, you will progress quickly, like resume parse round, first rounds, final rounds, offer, and signed offer all in less that a 3.5 week span. PM me if you have any further questions.

 

You can try/continue networking via alumni on Linkedin, but at this point, that will be difficult. I would recommend getting a job in an industry you’re attracted to and then just start applying in the winter as a lateral hire. I’m not sure about MBB, but I know big 4 and Accenture routinely hire college graduates less than a year out of college. The upside is that it’s much easier to get in this way compared to the usual OCR/undergrad route. The downside is that you’ll be coming in at the entry-level so you may be 6 mos-1 year behind in promotions compared to others in the college class of 2014.

Best of luck.

 

And no matter what, start practicing case interviews right now. If you get an interview, you want to be ready. Even if you set up an informational interview, you want to be ready, because you could be given a case on the spot to see if you are worth recommending to the recruiter. Since you will likely have few opportunities, you should be looking at at least 25 live case interviews before your first interview - and that's the very least in my opinion. Good luck in your journey.

 

Thanks! A lot of good advice. I actually spent last summer doing a ton of case prep (including reading Case in Point twice as well as the WSO guide) so I feel fairly confident on those now.

 

Trying to poke holes in my strategy/approach. Part of it was crappy timing/bad luck. When networking for SA, two three times I had literally missed the referral/non-target deadline 2 or 3 times for different banks.

When recruiting for FT, a few of my contacts had moved on to the buyside or out of banking completely. Emailed one guy to check in on FT recruiting, got an away message saying that "as of [the date I emailed him] he was no longer employed by xyz bank". That really sucked haha

I probably could have been more aggressive from the beginning, but I didn't want to come off as too strong. Got some good advice from people and go other that quickly.

I'm just going to keep plugging away...It'll just make my story that much better when I do finally break in somewhere.

 

Keep applying to everything.. I know that November-early January was tough for a lot of places due to the holidays, Trump bump, yield jump, and market noise. But, they should start opening up towards hiring at some point, just because it's something they have to do sooner rather than later. If you keep applying, your background will get you noticed. But don't just apply to IB jobs, because they are drastically more harder to get than most other jobs. Once you get employed, you can start focusing on networking and breaking into IB if that's what you want to do. Finally, stay up on markets and be prepared for interviews.

 

Apply to positions and firms you had not yet applied to. Any experience is better than none, so settling while you continue to look is fine. Also, just because it says "2-x years experience required" does not mean that it is.

Only two sources I trust, Glenn Beck and singing woodland creatures.
 

The only reason I got to where I am now is because someone else who actually has rank decided to help me. Make connections with people who can get you the right job. I have found Alumini from my school were some of the best sources for help and are often willing to help. I found that if you can apply online and then get someone from the inside to put your resume in front of a hiring manager it helps a ton. Good luck.

 

Stay with the consulting job. I worked in management consulting with a boutique for a few years before doing my MSF and I had a very positive experience overall in spite of never wanting to work in the industry again. You could like it, like you said, but even if you don't you'll be in a much better position applying to those AM positions with 1+ year of consulting experience on your resume. Employers tend to respect the workload and willingness to travel/abandon your social life that consulting entails.

CFA in December might help also, but I don't have any experience with this personally. At least the process of studying for it might be a solid test of whether or not you're going to enjoy AM

 

Yeah, I might recommend studying for the CFA. I am hesitant to always recommend it since I don't feel as if it is a panacea, but it will prep you for the MSF and really flesh out how interested in finance you are.

 

Woot top LAC econ majors represent! Definitely take the job and work for a while (it'll distract from your GPA at the very least); any experience will help you and you can say you weren't really into consulting after a while and decided to go into finance. At that point you shouldn't have too much trouble, even if you have to go into a first year analyst position.

 

At this point, I would consider casting a wider net. The longer you're unemployed the harder it gets. Try to find any finance related role, get promoted or lateral to "better" companies and then try to get into a good MBA program to break into banking if you're still interested at that point

 

Email alums in finance and ask them for advice (not for a job). They'll tell you about banking, tell you how they got in, and at least one will put in your resume somewhere. Use recent graduates in finance, or friends, as resources who will look at your resume and help you make it killer. Otherwise, be persistent with the cold calling, alumni networking, and using your career center - your work experience is certainly better than mine was.


http://ibankinglife.blogspot.com

 
aakashn:
Do you guys think it would be beneficial to make a trip out to NYC/Chicago and just walk into a few firms and talk with their HR departments?
Unless you want to have an interview with security, this method will not get good results.
 

No I don't think just walking in will get you anywhere. Due to your lack of experience and given how late in the game it is, I think your best bet will be to do what jmdude recommended, which is cold call, cold email etc. You need to hit the pavement here and send your resume/cl out to as many companies/offices you can find. This doesn't mean applying online on their career's websites (although that might not be a bad place to look for open positions), you need to be emailing someone in the company directly.

Also go the alumni/friend route. You'd be surprised how small the financial community is, so the more people you talk to (as ibankinglife mentioned, don't ask these people for jobs, just speak to them) the higher the chance that someone will know someone that needs an analyst. PWM might be your best bet, since it seems like the most logical progression from your only experience, and there are always guys at places like Merrill or Smith Barney who are looking for entry level guys to do their bitchwork. In this market, with your lack of experience, be prepared to take a finance job that won't be terribly glamorous, but will provide you with some experience. Good luck.

 

I'm in a similar situation as aakashn here, so this advice is helpful for me too. What would you say is more beneficial, a position in PWM or a fund accountant position. I would imagine fund accounting is a bit more relevant since you're working with financial statements whereas PWM is essentially client assistant, but correct me if I'm wrong.

 
slimwheels00:
I'm in a similar situation as aakashn here, so this advice is helpful for me too. What would you say is more beneficial, a position in PWM or a fund accountant position. I would imagine fund accounting is a bit more relevant since you're working with financial statements whereas PWM is essentially client assistant, but correct me if I'm wrong.

I have the same question. I have just graduated and I am in a similar situation. The only places really even hiring right now on an entry level basis seem to be PWM or fund acct within a BB bank. I am looking at a few possible offers and Im wondering which route would be better to take. Ive heard that fund acct might not be the best way since its tough to move from back office, but it might be good initial experience, but on the other hand PWM can get you Series 7 and 63 licenses which could help when looking for a job later.

What do you guys think?

 

Although conceivably it shows balls, logistically it just doesn't work. These guys are busy, bankers and HR included - I've frequently had scheduled interviews (superdays) in which some bankers were unavailable. Can't hurt to call HR though, and in fact I'd recommend it. Think of a good question to ask that isn't answerable via website (something about your background perhaps).


http://ibankinglife.blogspot.com

 

Living in NYC and my first line in promotion is mass mailings of my resume with cover letter

I'll be following up with phone call and emphasizing that I'll work unpaid (maybe this helps?)

After that I'm turing to the freinds and see what I can shake out

Finally I'll be going to bars and lounges to have fun and try to make new friends in the finance industry.

 
Summa:
I'll be following up with phone call and emphasizing that I'll work unpaid (maybe this helps?)

I am not sure, but I am pretty sure working for free is illegal, and something firms shy away from. Something about slavery? Anyway, as I understand it it represents a massive potential litigation liability to them - if they don't pay you minimum wage, they are breaking the law. Not worth it for a bank. Unpaid internships are done because they can be for credit, which clears the bank. But I doubt unpaid work is going to happen.

 
Lubyanka:
^lol look at company websites. a lot of asset management firms (i assume you want to do that since youre studying for the CFA) have training programs and i doubt these are on monster.com you should apply to Gluskin Sheff if you want to stay in Canada, David Rosenberg is the shit

That's kind of the way I'm leaning; that or risk management. I looked into Gluskin Sheff and some of the analysts that work there; most of them hold the CFA. Staying in Canada is absolutely mandatory as well. Everything aside, thanks for the advice. It's much appreciated.

 

I really cant thank you enough nice pep talk guys appreciate the good vibes talked to an alumn from my school who is a commcerical banker and said if you work hard enough (perhaps getting specific industry experience) might be able to re-route after MBA.

 

Life can be tough. Not everyone gets the jobs they're qualified for, let alone the ones they want. Welcome to the real world.

This is true in all aspects of life. Generally speaking, you get what you deserve. Only thing you can control is effort. Take a serious look in the mirror and realize why you aren't yet in IB and work on those things. Did you go to a target school? If not, you needed more than a "decent GPA". So now you have to show incredible resolve for the job and learn a lot of stuff on the side.

 

I'm still in undergrad myself, but from just reading your posts, think boutique, network quick, and maybe think about down south like miami where the fluency in espanol will help.

Good luck man, I feel your pain!

 

Sometimes the path less traveled is the more rewarding path. It is very tough out there right now and the best thing you can do is just get experience. There is really no M&A going on at all at this point so you are not missing much. I would suggest networking, but even that will probably yield minimal results due to the environment. Additionally, the competition from guys that have been let go less than a year will also play in.

 

Its really hard to get experience right now, since I can't get a job.

I am thinking of doing the analyst exchange summer training and internship program. I think this will help me get the technical skills that I am missing (M&A modeling, Leverage buy out models , etc.) plus the internship experience, which I think I need. What worries me is, what will I do after the summer is over? What do you guys think, is this the right way to go giving my odds of landing a job?

 

When I say experience, I am using the term in a generic sense. I mean just try and get any financial experience you can. I-banking or not, there are a lot of government consulting jobs out there that would give you exposure to finance and you would have job security. Even in a great market with a 3.1 it would be very tough to get a job. Do not take my comments completely negatively, but you are doing the right thing with CFA, etc. I do not know if the analyst exchange is worth it. Do you have enough of an accounting major to potentially get an MS?

 

You sound very ambitious, certainly a good thing. However, I would set realistic goals atleast for the short term. With a 3.1 gpa from BU, I would say its almost impossible landing an IB Analyst job(at a BB firm), especially these days. You would be competing against bigger nerds from Harvard, Princeton, etc. M&A spots usually go to top of the top candidates. If u want to relate it to medicine, its like landing a Dermatology Residency. Or landing a job with a top 5 biglaw firm, u get my point. Since u are a minority, I would definately try to network with a minority sponsorship group to get in that way. Most banks I believe to have such programs(minority mentors,etc. Realistically, I would aim for an Ops job then go from there.

 

Honestly no respectable IB will hire you. No offense, it sounds like you would do a good job, but they don't have to hire someone with a 3.1 when they can get people with 3.9's.

I would try to get into a BBCorp banking (basically the area of the bank that finances the deals that the investment bank gets). Then once you complete all three CFA charter exams, you'll be in a much better position to switch over to ER or IB.

 

I def do not agree with some of the posts. The CFA will help, but a lot of Operations/Middle Office employees now have it so there is more internal competition when positions open up.

Here's how it works....you can get into any firm you want, any job you want. I interviewed with them all!! I graduated from an average University, worked my tail off when I started at an I-Bank. That got me into one of the world's preeminent hedge funds on their Commodity Futures Desk. Now, I am now running an Wheat Arbitrage book for a Commodity House and have two traders who execute for me. Granted, if I graduated from an Ivy League school I wouldn’t have had to jump through all of those hoops, but I still achieved my goal. Plus, if you are fluent in Spanish/Portuguese you can trade the softs market, or work on the Latin America/Emerging Markets Desk at an I bank/Fund.

The world is yours my friend, even in this terrible economy…..it may just take a little longer.

 
dipset1011:
i wouldn't consider "BU" average especially there management school. They are lower tier.

BU is definitely in the "average" category. Maybe in finance it is lower tier, but in the real world it is average - I'd probably put it around 50, which is obviously not great, but it is significantly better imo than ASU or FSU or something like that, and that my friend is the definition of average; some above, some below, about in the middle. Would BU impress you? Hopefully not, but it isn't horrifyingly bad.

 

You graduated a year ago and you're just now visiting WSO to ask how you can get a job in finance?

Look, you're already way behind the curve by being a year out of school. You're going to be competing with this year's graduating class. Employers are going to wonder why you've been unemployed/underemployed for this whole year, which is going to make it much harder. You're going to have to take a job you aren't necessarily too happy about and try to move up from there.

The hard truth is, it's hard to make it in finance. There are a lot more people trying to work in finance than there are jobs available. That's not to say they're not out there, but judging by your perceived effort so far I don't think you've been looking/networking hard enough. Good luck going forward

 

No I have been employed, working other jobs, Forensic Accountant, Cost Controller, AR/A/P, etc... but I cant make inroads into any Financial Companies though it is what I want to do, but getting an interview is not the problem. Its the Licenses that are stopping me from getting a job. That is what I am trying to figure out to do. The line I always receive from the end of the interview is you need your licenses first now, before we can hire. That is my catch-22...IDK how to get around that, HR departments have changed since the 08 crash. So that is why I am stuck

 
jkranites:
No I have been employed, working other jobs, Forensic Accountant, Cost Controller, AR/A/P, etc... but I cant make inroads into any Financial Companies though it is what I want to do, but getting an interview is not the problem. Its the Licenses that are stopping me from getting a job. That is what I am trying to figure out to do. The line I always receive from the end of the interview is you need your licenses first now, before we can hire. That is my catch-22...IDK how to get around that, HR departments have changed since the 08 crash. So that is why I am stuck
Don't worry so much about the licenses. If they really wanted you in the first place they would have paid for you to get licensed (in whatever the fuck it is you're applying to). That response means two things: 1. There are better qualified candidates than you and 2. They are not extending you an offer after further consideration (a nicer way of saying you are "dinged"). Don't blame your inability to secure a better job on this license thing.
Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

I think this really means that they want an experienced hire (with relevant experience). If you had your licenses, then you would have prior work experience related to those licenses. For a true entry level position, people won't care if you have it or not.

 
TechBanking:
I think this really means that they want an experienced hire (with relevant experience). If you had your licenses, then you would have prior work experience related to those licenses. For a true entry level position, people won't care if you have it or not.

You kind of hit the nail on the head. What they advertise is not what they mean. Can someone answer me if that is the case why do they make me go through the 2nd and third and final interviews just to tell me the same thing over and over, and the licenses are Series, 6,7,66 etc.

 
jwf371:
Like why did you choose AM or IB or wherever you worked first?

These questions blow my mind. AM and IB are two completely different things. Why did you choose Finance over Art History?

 
WSOWill:
jwf371:
Like why did you choose AM or IB or wherever you worked first?

These questions blow my mind. AM and IB are two completely different things. Why did you choose Finance over Art History?

Ehh my experience has actually been that people just interview all across finance not knowing what they want to do, and then end up accepting their best offer

 

And jwf, have you considered going to job information sessions at NYU and Columbia? I don't know if this would help or not, but you'd get to meet people actively involved in recruiting.

I think with your PE fund of funds experience you should have a shot at front office BB. I'm no expert tho

 

I don't know if I have any advice I can give you right not, but I'm in exactly same position as you. I've interned at a small boutique investment bank, and been looking for investment banking jobs for past 4 months with no lead.

To make it worse, I have 3.0 gpa at barely semi/non- target school, and my parents are almost bankrupt so they can't support me anymore. I pretty much gave up on getting FO job at this point and have been looking for BO/MO, real estate and anything related to finance to support myself.

I think if you want it bad enough and try hard enough, you will eventually land something. But if nothing works out, accept the fate and move on because maybe it wasn't just meant to be. Not everyone can be an investment banker, and you can be successful in any industry.

Good Luck tho, I feel you pain.

 

Check out staffing agencies and recruiters. You would be surprised how many temp positions there are right now for every group/function.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
 

Post your resume on efinancialcareers.com . I get at least 1 call per week from a recruiting/HR/staffing/temp agency/etc person who sees my resume on there.

Supposedly onewire.com is good, but I've not only never scored anything from there, but they keep spamming my inbox. It's really annoying.

The other strategy I think you would be wise to pursue is to work out an internship agreement at some local firm, likely unpaid, that will allow you to put something good on your resume. This is crucial, I think - I get far fewer hits when I'm completely unemployed than when I have something to say I'm doing.

in it 2 win it
 

@yeahright - Thanks, I will try that.

@Kassad - Will try that too. I am trying not to push the unpaid idea right away. I don't want to undersell myself, at the same time, I know I am desperate. I feel like it is better to bring this up during the meeting or chat as opposed to outrightly stating you're willing to go unpaid in the cold-email. What do you think?

@pickle - I did but did not luck out.

 

There is always the possibility of getting an MMS or MSF, but if this is a strong regional e.g. Regions, Key or BB&T, I'm not sure that an additional degree is necessarily worth it. Why don't you want the offer is it the firm itself that you don't like or the position itself isn't appealing? I would probably go ahead and take it, there is always the possibility of switching down the line.

 

It's kind of a combination of the location, culture, and the type of position. I was hoping to land a job I really wanted in NY/Chicago but got beat out during the final rounds. I wish I put more effort across the board instead of all my eggs in one basket.

 

If your long term plans include grad school of any kind i.e. B-school, law school, etc, think about Peace Corps/Ameri Corps/ or even Teach for America, I have heard from people I know on admissions committee at MBA business schools">M7 and T-14 schools that schools love to see that in their applicants and it can take you from being an average candidate who just gets in to being a candidate who gets in with lots of $$$.

 
brooj14:

If your long term plans include grad school of any kind i.e. B-school, law school, etc, think about Peace Corps/Ameri Corps/ or even Teach for America, I have heard from people I know on admissions committee at MBA business schools">M7 and T-14 schools that schools love to see that in their applicants and it can take you from being an average candidate who just gets in to being a candidate who gets in with lots of $$$.

I personally can't imagine being paid next to nothing as a Peace Corps member.

Kudos to people who do it.

 

Need more info before someone can tell you to make a life changing decision. Let's start with: -your grades and areas of study -reasons you haven't secured offer yet -explanation/details on your current recruiting/interviewing situation (# and types of interviews, depth of process, identified areas of weaknesses, etc)

The more details you provide, the better we can understand your situation to give our input on how you should approach.

 

You said that you went to masters before any proper work experience (internship only) which indicates that you did not get into a very reputable school since most reputable schools value experience highly in the admission process. This might be the reason you are not employed yet. At most times, finance jobs look at the prestige of the school and quality work experience and since you do not have any of those two, I'm not surprised that you are unemployed. I recommend you start cold calling, obtaining technical knowledge, and all out hustling to get your foot into the door.

This is based on the assumption that you did not go to a reputable university

 

It might be a long shot, but depending upon how your relationships were at previous internships, and if you have maintained a line of communication after you finished, you could try reaching back out and seeing if have present needs at the junior level. It's a bit odd that you didn't receive any return offers from 3 internships though, so that may be cause for concern during your full-time hunt and suggests that reaching back out may not be fruitful.

I would take a look at the feedback you've probably received along the way about your performance on the job and see where you can improve so that you crush your next interview and perform well on the desk. With 3 summers of experience (assuming at least 1 summer BB), your resume is probably really impressive so I would hit the pavement NOW and call / email EVERYONE on linkedin and get a ton of coffee chats and be upfront during these chats. It's a numbers game for you to get a job, and the longer you are not employed post-graduation, the harder it will be for you to get a job in banking.

 

[quote="iggs99988"]

It's a bit odd that you didn't receive any return offers from 3 internships though, so that may be cause for concern during your full-time hunt and suggests that reaching back out may not be fruitful.

This. If you didn't get a return offer junior year, it sounds like you missed the boat. figure out what went wrong and fix it before flying out there blind.

"Even if you're on the right track, you'll get run over if you just sit there" - Will Rogers
 

Your best bet is probably the smaller 1-10 person boutique shops at this point. The WSO database has some of these names, but LinkedIn will be the best way to find companies of this profile, through their company page and similar firms can be found by looking at their "suggested companies" down at the bottom right side of each page (or whatever it's called). You might get just an internship to start, which you can hopefully swing into full-time. As for location, far and away your best odds are in NYC.

 

blast the list of boutiques

i had a summer internship last year that did not offer full time (they just having running interns year round), and am getting solid traction through onewire, cold emailing, and linkedin applications

just grind son. make it through the boutique lists, and then when you run out of interviews there, consider alternatives

Make Idaho a Semi-Target Again 2016 Not an alumnus of Idaho
 

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The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 

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