Teach For America as an alternative to the banking/finance world?

NCtoNYC:

I say if you're interested in teaching and helping other people, go for it. This is not the best time to be looking for a job in banking/finance. I don't know much about you, so you might very well be extremely qualified to be in finance, but there are a lot of qualified people who will not get hired.

At the very least, I would definitely say diversify your targets. Don't just look for jobs at banks. Also look for jobs at places that will be around a while and have actual physical products (GE, P&G, etc.).

I agree with you. In addition to Banks, I have already applied to GE and J&J Financial Leadership programs. I am not really interested in teaching for the long term, but I do enjoy helping others, and it seems like an amazing program. Granted my grades are not that great, but I know they look at other stuff too. As far as finance, I am an econ major so not much classroom experience, but have had a few internships.

Worry about d/t post TFA... Lot can change in coming years.. Don't try to set up your life today

life's too short. Do what makes you happy and what you're more passionate about. Don't listen to these highschool kids on WSO, two years is nothing. Especially if you are doing something as respected as TFA.

I got into tfa and the peace corps. Would have probably offed myself doing that kind of work. Don't get me wrong I'm all for helping people but everyone has their own way.

Join TFA, defer Deloitte, then see if you're still interested in working there after TFA. If you're not, you don't have to.

I don't see the downside of deferring.

lizpapers what did you wind up deciding?

i think youd go to bschool rather than be an analyst.

but id like to hear others' opinions as well

i am a direct promote associate that's planning on going to the PC in june (already applied and nominated for business development)...i would recommend getting a job for a couple of years and then doing PC or TFA...you will be a more valuable resource to either program...plus its probably easier to get the experience up front rather than after TFA or PC...its your call...follow your heart not the money

Besides helping people (obviously), many people consider TFA or PC to strengthen a b-school application -- presumably to become a 1st associate.

SCHOOLS AREN'T OBLIVIOUS TO THE FACT THAT ONLY PEOPLE WHO GOT CUT JOIN THESE PROGRAMS. YOU WILL HAVE NO OPPORTUNITIES COMING OUT OF EITHER PROGRAM, IDIOTS.

I don't know if thats true right now. It is increasingly difficult to get these programs. Less than 10% of people got TFA this year

smartest guy ever is not so bright.

as a point of reference, my MD did PC after college and then when to H/W/S and then to M/B/B. i know another guy that did consulting for a couple of years is now in the PC and just got accepted to H/W/S.

schools want people with multiple perspectives and future leaders...programs such as TFA and PC are good indicators of both. That said, clearly you need good stats too...a lower gpa might be offset by a high gmat.

lastly, the reason to do a program such as TFA or PC should be the true desire to do it independent of potential career benefits. if you do one of those purely for career advancement you may find yourself extremely unhappy while risking not achieving the end goal.

In terms of B-school, I don't know about current views but both my parents did PC and both subsequently got in to HBS. Although that was 20 years ago.

I've personally considered doing TFA, I think it would be a very rewarding experience, and I'd encourage you to do it if you'd enjoy it. I've done a lot of tutoring work, maybe you should try that out first to see if you enjoy working with youth. If you're doing it though, be sure you're doing it because you want to, not because you think it'll position you for a BB or b-school.

its usually more like

Teach for America => MBA business schools">M7 b-school => finance/consulting

i'm not sure how it goes for other firms, but a contact at goldman basically said that TFA is perceived as one of their 'target schools'.

further, i've seen people with interest like yours, and what they did was try really hard to get a BB internship and hopefully a full-time offer -- after which, you can try to defer that offer for 1-2 years to do TFA.

TFA is highly regarded because of the fact that it's a form of public service (full-time) that one commits to at such a young age -- most people no matter what industry respect the integrity of that experience. Yes, TFA alone isn't some ticket that makes people roll out the red carpet for you, but it's an experience that recruiters will recognize (and some may even value or admire, depending on the individual) -- and it's not going to limit your career opportunities in the medium- to long-term.

Alex Chu

Thanks for all the input guys, but my question wasn't clear. I'm not necessarily questioning the merit of TFA from a recruiting standpoint- my real concern is whether or not being two years older than all the other "first-year" analysts will somehow put me at a disadvantage when it does come time to enter the industry.

Here's my thought - if you're interested in teaching, and you're really passionate about TFA, then do it. It'll be good experience and I'm sure you'll get valuable life lessons out of it.

If you're still interested in finance after that, then you'll have to work hard for it (but that's always the case), and if you've got the will, you'll get there. I don't think being just 2 yrs older than other analysts will make much of a difference, especially considering that those 2 yrs will be spent in TFA.

Follow your passions because life is too short to hand out second chances.

I used to work in a BB firm. For whatever reason, our best analysts were older than the typical kids coming out of undergrad.

TFA is stupid and full of gays. I'd focus on corp fin roles or working for a big4 where you'll get far better skills and networks as well as stronger background for b-school and post once you come out.

Are you serious? 3.8 GPA, internships at JP Morgan, Morgan Stanley, and Goldman Sachs? And you have NO interviews? This is really discouraging; are you just not doing well on interviews or are you being rejected all together? Any ideas why? You're resume seems really stellar - better than most target kids, certainly.

tn1989:

Graduating this spring, I have been applying to numerous rotational analyst programs and support roles at BBs, HF, and smaller firms. 3.8 GPA, non-target, internships at JPM, ML, GS. Cannot find any leads through alumni network or contacts. Should I go the Teach for America route? Thoughts? I just feel so discouraged right now, I worked so hard all these years to see that those internships still will not get me noticed without coming from a target.

Sorry, but you aren't trying hard enough. I got a job right out of college with a 3.1 GPA with no finance internships. How about that for discouraged, you chump.

But really.. have you tried temp agencies and finance recruiters for support roles?

Happy-

If the OP wants to work in finance, then going TFA makes no sense in the eyes of b-school admissions committees. B-schools are changing their admit criteria to ensure a not only diverse student body but also one that has a high probability of securing a job post b-school, given the changing economic environment. He's not applying to b-schools now, but this change does not appear to be short term by b-schools. At the end of the day if he goes to a Big4 now, then jumps to another firm and shows career progression towards his goals, then I'd say he has a far better shot at a top 5 b-school than if he went the lazy TFA route and paints a picture of a I wanna be a wall streeter but I have a liberal sweet side to me. And besides, his network going the corp route will be far stronger than the TFA route, most of whom in the latter end up going back to TFA or some other nonprofit in the longrun (read: no connections and are poor). TFA is a waste of time for the OP in my opinion.

Even from a non-target, with a 3.8 GPA, and those names you should be getting something....where are you applying. What internships at JPM, ML, and GS did you have? Something doesn't make sense.

Thats really odd. My buddy got internships at an elite boutique and is going to a huge buyside fund post TFA but he was also insanely competitive when he graduated so maybe thats the difference?

or your friend has a personal network he leveraged, outside that of TFA.

Isn't TFA really selective? I think TFA is actually a great way to get into B-School, which you can then turn into a banking opportunity. Obviously, the easiest way get into banking is the straight path, but there is nothing wrong with taking the roundabout way.

First, B-Schools LOVE the TFA types. In terms of percentage, there are way less people coming from TFA than Wall Street that are trying to get their MBA. Admissions people love the whole concept of intellectual diversity. Plus, MBA programs want leaders. TFA gives you the opportunity to have an impact on a few students, gain perspective, and improve your presentation skills.

This will carry through to your banking interviews. Let's be honest, anybody can learn Finance, Accounting, and Excel. Most banks are confident the money they invest via training programs will equip you with those skills. You can differentiate yourself by having experiences that are not work related - there's a guy I know that has great stories based on his TFA experience. You'll be less intimidated by a Managing Director yelling at you after facing off against some of the tougher students in the places you will teach. At the end of the day, banks want somebody that not only can understand the work they do, but also articulate it. If you can teach, you can present.

That being said, I heard the pay sucks and you can end up working in some shady areas. Good luck with whatever direction you choose.

TFA isn't just a backup option and I think it's going to be very difficult to break into that unless you actually want to give back and be a teacher for a few years. Your true intentions are probably going to show through in the essays, interviews, and lesson you have to give. B-schools might love TFA, but they love it because of the diversity that applicants have vs. the average finance guy and again, this will be difficult to fake. Obviously you can BS and it might work, but you have to be aware of how competitive it is.

Also, while it's obviously a prestigious program, I've also heard horror stories. You WILL be in a shady area, making little money, and a lot of times your colleagues teaching apparently resent you and the fact that you get all the attention even though you don't want to teach long-term. This is just from college friends who have done it and may not be the norm, but it's something to remember.

I'm not sure what you're doing wrong, cause with those stats you should at least be landing interviews. That said, TFA isn't really a guaranteed backup lol. They have about 9-10% acceptance rate now. You should only do TFA if it's something you're really interested in, or you WILL be eaten alive should you actually 1) make it through their interview process, 2) get the offer, and 3) start teaching.

TFA has opportunities for people interested in private sector both during and after their 2-year commitment, but like anything else you have to grind for it. Goldman isn't handing out jobs to TFA people, and HBS isn't handing out acceptances to them either. Just like anything, you've gotta network your ass off and leverage your opportunities. If you want some honest insight on TFA and it's corporate opportunities hit me up personally or just post a comment and I'll try my best to respond. The majority of the responses you're going to get on here will be neither accurate nor beneficial to you.

Best,

IBT

Bump

It's hard to get in - its the main reason, and its terrible to see people apply to TFA+IB without applying to other teaching programs, it shows that a lot of people are just looking for the most prestigious route without really considering what they enjoy. Huge respect to teaching programs but it bothers me how people apply to TFA who dont really have an itnerest in teaching

its very hard to get in and companies and school view it as a great thing.

.

sb for you

You'll probably have to go to b-school.

Speaking of TFA, I'm curious. i've been shot down for all the SA positions I applied to, so I figure FT won't be much better (even though I'm still going to try)...

Would TFA back to IBD be a viable alternative or is it realistic just improbable? Should I keep that as a back-up route?