Making it in NYC
I'm beginning to think NYC is not for me and I am getting sick of the nepotism and prestigious school dominance that overtakes most positions. I understand RE as a whole is family dominant, but NYC has to have it the most. Is just networking even enough? Everyone and their sibling has a MSRE/MSRED from NYU/Columbia which now even makes it more tough. Starting to contemplate trying for NJ or Philly.
Can anyone in the NY market shed some light and tips of getting in with a shop?
That's the nature of the game. You have to pay to play. They're not going to shell out hundreds of thousands of dollars to a community college graduate.
The reason that people stress networking so much is because it is the closest thing to having "a family member in the business" as you can get.
As for education, it is really just used as a basic check the box screen. By the time you get to the interview, it won't replace experience. I've been on panels to hire a dozen+ people at all levels over the last few years and when the final decisions were being made, education was never really discussed. It ALWAYS came down to how that candidate's previous experience would translate to the job we were hiring for and fit.
Also, once you make it to the interview, be careful to navigate the fine line between confident and arrogant asshole. I've interviewed people for 6 permanent analyst spots this year and was asked to help run the summer intern program for next year. While conducting those interviews, I've noticed a whole lot more "arrogant asshole" vibe than in previous years. Those people don't make it to the 2nd round, especially in very small, high production, tight knit groups that are run by old school bosses.
Whats your background?
Just recently started in NYC CRE and I can tell you the family prestige/school prestige thing is huge but at the same time there's a lot of shops out there both REPE, sales teams, equity/debt placement teams, development shops...etc that arn't full of these types. You have to network aggressively. All it takes is one solid connection or one guy to take a liking to you and it could blow open your world into connections.
How did you land your role?
How to get out to New York (Originally Posted: 02/04/2007)
I go to a target west coast school, but am interested in going back east. Problem is most of the banks (with the exception of ML and Citigroup) just recruit for their LA, SF, and Palo Alto/Menlo Park offices from my school, and apparently my only recourse for NYC is to apply through the firms' websites. Any ideas that would actually get my resume looked at would be greatly appreciated?
Some of my friends made contacts through my schools alumni book and got informational interviews set up.
getting to NYC (Originally Posted: 12/26/2011)
I will be starting as a first year analyst at a top MM in IB in a regional office in an industry coverage group on the east coast, but I want to get to NYC as soon as I possibly can. I figured I would do at least 1 year at the regional office and then look at options to get to NY. I was wondering if there was anyone here who has transferred from a regional office to NYC and how it was done, or would the best option be to apply to PE in NYC after 1 or 2 years?
I am still in school, but I heard that transferring between offices is pretty easy (at least in the Moscow-London case)
I didn't really transfer (because I was only with the BB for 6-7 months).
I made contact with some recruiters/friends up there early on.. flew up for interviews for a month or two. Finally got a temp MO job @ a BB for 6 months. Moved up to NYC on a 6 month lease.
Then began interviewing/making contacts for FO jobs.
Here I am now.
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Best way to get BB NYC IB analyst job (Originally Posted: 02/19/2013)
I was pre-med the first four years of undergrad at a semi-target, with a good GPA (3.8). The only problem is I was a psychology major, I feel like I have to give myself time to become an econ major (liberal arts school) and get experience before I enter the workforce (agree?). I have had no internship experience though. Here are my options: 1. Graduate now- look for job or internship or graduate school 2. Take an extra year, take summer internship then apply for FT next year 3. Don't graduate, take next year off to do internships and improve resume, then apply for SA position. (I could also vary that so I just take the Fall off and finish the degree the next Fall).
What is my best way to get the best job out of college and give myself the best long-term career trajectory?
You've already missed the boat on the vast majority of IB internship recruiting, both BB and MM. You're not going to be able to get anything good enough for a summer internship to be competitive in the FT process next fall. As a result, delaying graduation is useless. You could get an MFin but if it's a one year program you won't be employable to IB in the fall because you won't have had a good internship in between. A two year masters program is pretty much your only chance at going directly into IB.
You're probably better off doing something else finance related for 2-4 years and either trying to break in directly or more likely through an MBA.
nvm.
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How does a grad get ahead in NY? (Originally Posted: 05/06/2013)
I'm moving to New York in a few weeks - but I'm relying on savings and low rent to get by for hopefully only a few weeks before I can get situated with some kind of job.
Question: How would you make the most of your time in a day to find yourself a job in finance? Practice interviewing? Networking? Working with a staffing agency? Sending in resumes to different positions?
Are there any staffing agencies which deal with recent graduates?
I appreciate any advice!!
I'd try to do everything you mentioned. If you only have a few weeks worth of expenses saved up you will want to hustle your ass off and talk to anybody and everybody you can.
More power to you. I respect people who can do this - but I never could. Signing a lease without a job and any idea how to pay bills a month or so away? That's crazy to me
Realistic options? (Trying to get to NYC) (Originally Posted: 11/15/2015)
N/A
@TNA"
Might post this in the MSF thread as well.
Bump
NY is probably the easiest place in the world to get a job in finance. You just have to live here.
not if you don't have Visa :( it happened to a buddy of mine..
Getting To New York (Originally Posted: 02/11/2016)
I'm just looking for a little advice on where to put my main focus over the coming months. I am graduating this spring from the University of Florida with a degree in finance and a dream of ending up in New York. Throughout undergrad, I was more concerned with working and making money then doing the best I could in school. I will graduate with a 3.3 GPA. I am involved on campus in leadership roles and have been asked to join an honors society after improving my GPA during my later years. I have completed internships, participated in a semester-long UF sponsored business program abroad and now work at a local startup.
In addition to working at the startup, for the past year or so, I have caddied at the number one golf course in Florida (think pebble beach, pinehurst, etc). During my time at the course I have made a lot of valuable connections and have been offered numerous opportunities for work after graduation, the only problem being that the opportunities are not in New York. The golf season is starting to pick up down here so I'm really hoping to be able to find that one person that makes everything fall into place.
I know that I could easily have a higher GPA had I dedicated more time to my studies. I can't blame this on my parents either, until this year they have payed for everything for me and only stopped because it was what I wanted. I just got too tied up in making money for investing, saving, etc. Currently, between school, the startup, caddying and travel, I "work" close to 100 hours a week so I know that I would be able to handle the work load of a high-demand job, no problem. Taking all of this into consideration, what's my best bet for getting a finance position in New York. At this point, I'm willing to take nearly any route that gets me to this city.
Any advice, criticism, words of wisdom would be greatly appreciated.
Go to business school in New York. Get internships while in business school in New York... Did you have an internships in undergrad? You need to build your foundation first, and not jump into anything. New York is expensive so you'll need a good job if you live there. I would talk to the people offering you positions and pick one that has mobility. Work there for a couple of years, get into a grad school in New York, and see if you can be transferred... Either that or use that work experience as an asset to get into a good b-school that BB recruit from. Good luck!
Finance in New York is a pretty broad term. What do you want to do more specifically?
The obvious answer is to network and keep trying to get a job in NYC and make the ask of the people you're caddying for if they know people in NYC they could introduce you to. But if you've made connections and could get a good job through them that's not in NYC, get the best possible job you can, get some experience and try to lateral your way up to NYC after ~1 year. This isn't a cut on UF at all but it's not a target school for most front office finance jobs in NYC (if that's what you're after, nothing wrong with back office) and a 3.3 is usually below the cut. So if you can bat above your average and get a great job through connections you'll have an easier time getting into that same job in NYC once you have FT experience. And someone correct me if I'm wrong but most firms of any sort have finished their new grad recruiting so you'll be sifting through the crumbs of what's left. Nothing's impossible but I'd imagine getting a good job in NYC at this point will be an uphill battle and if you have the opportunity to get a good job elsewhere, go for it and make your way to NYC when you can. I know a year or two when you're 22 seems like a lifetime but in the long run it'll look like nothing.
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