Help me break tnto an Investment Banker Position
Hello,
I am looking to break into investment banking on wall street, the following is some background information on me:
I am currently a senior at a local college I attended in my hometown. I will be graduating with a bachelor's of science in finance in the next 8 months, my Gpa is a 3.5 at the moment but I plan to graduate with a 3.7 as I finish my classes. The school is an accredited business school but it is not top-tier. I attended ************. I chose to attend here as I was granted a scholarship and was also able to live at home and save money as it is located 10 minutes from my house. It has taken me a little longer than expected to graduate (5 years instead of 4), as I had to deal with several complicated surgeries that put me out for a few semesters. I did not have any desire to break into investment banking when I was initially choosing colleges so I chose the college that presented the least amount of financial strain on myself (scholarship opportunity as well as living at home for some of college).
Now, I'm hoping to break into Investment Banking on Wall Street. I am not thoroughly familiar with how hard it is to break into Wall Street for one of these types of positions; however, I do have quite a bit of work experience under my belt. I am now more interested in getting the most lucrative financial career possible. I would like to start with becoming an investment banker, and ultimately move into private equity / hedge fund management.
My portfolio is non-existent. However, I made several thousand in bitcoin as I got into the market in 2012 when their was minimal buzz about the crypto-currency.
Here is the following positions I've done from my resume:
Construction Project Manager
Project Controller / Accountant Intern
Purchasing Analyst Intern
Project Controller
Computer Skills
Proficient in the following software:
Business Applications: SAP, PDM, AutoCAD, DWG TrueView, Hyperion Financial Manager, Sage Timberline, QuickBooks, Word, (including V-Lookup, Pivot Tables, Macros), Access, PowerPoint, Project, Outlook, Visio, Concerto
Illustration, Imaging, and Page Layout Applications: Illustrator, PhotoShop, ImageReady, Adobe Reader, Adobe Acrobat, KPT Vector Tools
^
I have about a year before I plan to move to NYV and pursue a financial career in ultimately IB. I am hoping I can find an apartment to live as near to Wall Street / Midtown as possible.
With my situation and experience, what is the best advice you can give to me to make my career goals become a reality a couple years or so? What type of work experience/additional education should I get under my belt during these remaining 8 months so I am ready to start interviewing with investment firms once I graduate?
Will a 3.7 from the university allow me to get a position in top-20 school for MBA?
What job would be the most relevant experience I could take in the meantime to help build network / experience for an IB job?
Thanks, any feedback greatly appreciated.
First of all, get your resume and other identifying information off of here. It's best to keep things anonymous in public posts on here. Second, your girlfriend is making several thousand per week? Is she a stripper or what - just kidding. If she's on the up and up and has higher future earnings potential, just plant your seed and ride those coat tails.
In all seriousness though, it's going to be ridiculously difficult for you to break into IB through the plan you've laid out. Don't get me wrong, it could work. Frankly though, the stars would have to align for you to pull off the Gary Cohn-esque move you're contemplating. You're coming in through a very unusual route - most entry-level people have their positions squared away before graduation, regardless of school. The openings just aren't there and the ones that do pop up are going to be incredibly competitive. Not trying to dissuade you from following your dreams, just letting you know the odds are heavily stacked against you.
Also, I don't really know why you think IB is that much better than your current situation. Maybe your work sucked but it's not like formatting powerpoints for 90 hours a week is that much sexier. My advice for you would be to stick it out with the family biz for a few more years. If you learn that you like it as you move higher up, great. If not, top business schools love family business experience. If you can bring up that GPA a bit and crush the GMAT, you could likely go to a strong business school in 3-4 years, where your chances of working on Wall Street would be exponentially higher.
P.S. most banks have their offices in midtown, living close to Wall Street will just help you meet tourists.
Hi, thanks for the response.
Your approach sounds like a reasonable long run game-plan, however I'm certain I can make my way into Wall Street in the time frame I've specified. I have made my way into other positions I wasn't entirely qualified for, so I think I'd be able to as for IB as well. I am quite a smooth talker when need be, and would be able to get relevant work experience for IB considering my bachelors is a bachelor's of science in finance.
For personal reasons and economic reasons I am choosing not to pursue project management/construction management in the greater Detroit area, I also will not drop the capital on graduate school. I think a CFA would be personally be more impressive. The importance and cost of an MBA is overestimated in the US. Relevant work experience and your network is what really counts. Also, what my gf does for a living is not relevant to the thread.
My response question is what would be the most relevant position I could take on (securities analyst?) before applying to IB positions for my situation? I would like to get more acquainted with the field and build my network with the right people once I'm in NY. I have a personal childhood friend who is a VP / CDA at a large corporation in Manhattan which I will not name, but I'm sure he could get my foot in the door as he was in IB for several years and he moved on to higher positions. However, I'd prefer to get the position on my own rather than take a favor when I start out in IB.
So what would be a relevant job I could get that would have the most transferable skills to IB?
Thanks
With all due respect, do you honestly think this guy will go to bat for you with a former employer? If you were a childhood friend of mine and called me up showing a blatant lack of knowledge of the industry, role and recruitment processes, I'd politely decline. Rather than dismissing what others are saying here, I'd highly encourage you to take it on board.
At this moment in time, as a non-target senior with no relevant IB experience and no network in place, your chances of breaking into IB (even at a local no name boutique) are incredibly small. I'd take the role at your dad's company, kill it for 3-4 years and get into a top MBA. Evidently you don't like MBAs, but they are by far the most realistic route into IB for people who didn't break in during their undergraduate studies. Trying to do what you want to do in the next 8 months will not happen. Not trying to put you down, just being blunt about the reality of the situation.
You pretty much dismissed my advice so I'm just going to be brutally honest now.
At this point, it's going to be a very steep uphill battle for you to just get a job that someone at a top IB would look twice at. Okay, you have this one connection, let's say he 100% is going to go to bat for you at his former bank. With your background, there's only maybe a 10% chance you can convert that to an interview, let alone an offer. Other than this one guy, you have no other connections. It is ridiculously easier to network with people while in school than while out of school, it's going to be nearly impossible to just get people to call you back when you're in NY.
Let's say you do get some interviews (which won't happen). Any off-cycle full-time positions that pop up will be flooded with resumes of people looking to lateral from other top banks, Big 4 firms, consulting, etc. I'm sorry but it doesn't matter how ambitious and "smooth talking" you are, I can literally guarantee that there is absolutely no chance you can beat out the type of people you'd be competing with.
A CFA would be more impressive to you? Oh cool because your opinion matters, right? Anyone can get a CFA if they want to sacrifice their lives for 3 years for three fucking letters. An MBA is overstated in the U.S., okay fair, but you're planning to work in the U.S. soo... Regardless, a top 20 MBA is life-changing for someone with a 3.5 from a college that no one has ever heard of.
You have way too many misconceptions about the finance world and you're not going to be successful until you get a strong dose of reality.
bump more feedback please
At this point I think your best way to break into an investment bank would be to use a crowbar.
Don't know what all these negative nancies on here are on about. You are proficient in Windows 95, 98 AND NT....you should have no trouble breaking into IB!
I laughed at the "proficiency" in different OSes. The average eight year old can navigate any operating system including linux (unless you're talking about running it strictly from the command line). If I saw that on your resume, I'd automatically assume that you were a technical novice.
Also, you don't need tech proficiency above MS office products to become a banker. Others have much better insight into the specific issues, but I think you'd really benefit from uploading your resume to the "resume review" section (as a pdf). After your resume is cleaned up, I think you need to reevaluate what a realistic goal is this late in the game. It's entirely possible to land a banking gig, but I think you'd have a lot higher success rate setting yourself up in a position that could lead to a banking gig down the line.
Alot of FES have trouble with some of the older OS, that's why I added those, a lot of corporations generally run an older platform. I guess I'll take those out though as apparently everyone on this site thinks they are goofy.
please tell me you guys knew he was a troll and just didn't mention it.
"I attended **********" "proficient in Windows 95, 98"...
He's a real person is the thing, I found his linkedin in 30 seconds.
mind blown
asdf
With those typos in the title, the pitch book is going to look amazing
This made my day
Also,
I'm reading Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions by Joshua
bump 4 advice
If you are a senior with a 3.5 average for three years. How can you get that up to a 3.7-3.8 in 1 year?
You have no realistic chance right now. Several people told you your best chance, which is to take the best job you can now, kick ass for a few years and then go get an MBA. However, you apparently didn't want to hear that.
asdf
Gary Cohn never did IBD - he was an options or commodities trader. In fact most of the FICC traders at GS / J Aron did well but he wasn't a banker - just saying
You guys realize this is a troll post right? guy made it to have a laugh lol
Dolore ab numquam consequuntur animi sit perspiciatis. Voluptas excepturi dignissimos libero nemo corrupti vitae. Quasi omnis minus iste nemo aut non dolorum.
Corrupti et similique ducimus inventore eum ut voluptatum. Veritatis molestiae saepe ab qui similique aut et animi. Facilis inventore ab dicta quasi error. Eveniet omnis molestiae asperiores. Deserunt omnis qui aut similique est ipsum. Harum molestiae distinctio mollitia ut perferendis sit adipisci.
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...
Nobis non quisquam unde vel in sint vel. Rerum et impedit sit quasi eos eos.