I made it -- hope for "super" non-targets

Hey guys,

I've been a lurker on these boards for quite some time, taking advantage of the invaluable information available for college students such as myself. I've "taken" a lot from this community so I figure it's only fair to give back (or attempt to at least).

First and foremost, my intentions are not to gloat. I only hope to provide an informative story that may inspire/help others from a "super" non-targets; and by "super" I mean barely breaking top 100...

Roughly three years ago I decided I wanted to break into IB. I quickly realized how difficult it would be coming from a state school with very limited ties to competitive finance.I knew I would have to differentiate myself from the crowd -- do something that would jump out on my resume and overshadow my non-target education. I knew that simply falling back on my degree and in-class work/learning would not cut it.

So... I started an "investment" company (quick context -- I had been investing since I was 17 and an ardent student of Graham/Dodd "value" investing). I formed an LLC in my state ($100 bucks), passed the Series 65 (a joke), and started a website/blog that functioned as a conduit for my investment views and opinions. Of course, it was all free and I wasn't serving as anyone's custodian/advisor, but it got my name out there. I focused solely on micro-cap stocks, offering my fundamental views/analysis on companies sub $100mn.

The company was merely symbolic and employers knew it was a shell for a non-producing blog. But the initiative, coupled with evidence (anecdotal as it was) of my analytical proficiency (or attempt at proficiency), worked like a charm, and it served as my ticket into interviews. I ended up accepting an equity analyst internship at an investment firm in NYC the summer of my Junior year. Internship went great, and I had a FT offer in-hand as I left.

My summer internship in NYC opened doors, and I landed a fall internship at a very respectable firm near my school. My two internships validated my resume, and I landed multiple interviews. Long-story short, I recently accepted a FT offer at a boutique IB in NYC -- start at 80k.

Anecdotal advice for those in my situation (non-targets) :

  • Stand out -- you have to work your ass off outside the classroom to differentiate yourself. Start a small company, sit for the CFA level 1, start a blog, etc. etc. Whatever it is, find your angle and pursue it viciously.

  • Passion -- you have to be passionate about finance/business. If this is just about the money to you, you're going to have a hell of a time finding the motivation to weather the copious negativity -- denials, ignored emails, resumes seemingly lost in space, etc. Targets can afford to have different intentions, non-targets simply do not have this option. And leverage your passion every chance you get, it can be the crucial value-add that lands an interview.

  • Networking -- Recruiters will not come to you, you have to go to them. Targets are afforded this luxury; and quite frankly, they deserve it. Non-targets, however, are not. Corporate websites are like black holes, you'll send your resume in and you'll never see or hear from it again. You have to go above and beyond; respectfully cold email individual recruiters, network through your alumni network, network through linkedin, etc. My alumni network proved thin so I networked extensively through Linkedin. I honestly just searched for "company x recruiter" and randomly added anyone and everyone. And it worked. It opened doors and created leads. But here's the kicker -- if you don't stand out and you're not passionate... networking will prove futile. Standing out and being passionate helps create the product (you); networking is the distribution -- and you need product for distribution.

Welp, I apologize for the novel. Hopefully this is somewhat helpful for those coming from non-targets and please feel free to ask any questions.

Best,

Ven

16 Comments
 
Best Response
Ben Shalom BernankeDo you still update your blog? I'd be interested in reading what you've got on there

Unfortunately, I had to shut it down when I accepted my HF internship last summer. And now that I'm going into IB, I probably won't put more time into it.

Another tip some may find value in -- I also branded myself by buying a personal domain (jdoe.com) and created an online portfolio showcasing my work, credentials, etc. It supplemented and expanded upon my resume, and I received great feedback from recruiters.

Plus, you can easily set up gmail through your domain and it looks great sending out emails from your own personal domain. Sending a resume from [email protected] is far more likely to receive notice than [email protected]

  • Ven
 

Thank you very much for this post. I am also at a, "super" non-target, and it is nice to see that others have succeeded from non-target schools. I also really like your outlook on passion and the need to stand-out.

I just need to keep grinding, keep working.

 
Dr JoeA school that is ranked in the top-100 is hardly a "super" non-target.

Other than that, congrats, good story!

yeah, that is a super non-target. Other than HBCU's most BB's will have 0 from schools outside the top 100.

 
Solidarity
Dr JoeA school that is ranked in the top-100 is hardly a "super" non-target.

Other than that, congrats, good story!

yeah, that is a super non-target. Other than HBCU's most BB's will have 0 from schools outside the top 100.

Really? I am a bit skeptical of 0 at most BBs from all the schools outside of the top 100 combined... maybe at the analyst level I guess. I went to a school with average SATs of circa 1030 and obviously not ranked anywhere, so I take offense to a top-100 school being called a super non-target. Kind of joking about taking offense. lol

 

I like this idea. Would be great for me to do if i had some money to initially invest with. I am not saying im poor, but i do not have nearly enough money needed to engage in all this. ( mainly the actual investing part ) Website and domain are cheap, business license also 100$ where i am from.

 
Ecalw001I like this idea. Would be great for me to do if i had some money to initially invest with. I am not saying im poor, but i do not have nearly enough money needed to engage in all this. ( mainly the actual investing part ) Website and domain are cheap, business license also 100$ where i am from.

You can do it with $100. It's not the actual investing that matters, it's the process -- research, diligence, and execution. Paper trading is an option as well, but I've found recruiters to be far more receptive when real money is involved. The dynamic is certainly different and they know that. Just bring up that you manage your own investment account at xx broker (check out Tradeking) -- they'll never ask the size of your account.

And again, it doesn't have to be investing. Find something you are passionate about, make it your angle, and pursue it with a vengeance. Sincerity will go a long way, for both you and the company you work for.

April,

Keep your head up and keep moving forward. I'm sure there are ample opportunities in your home country, have you considered finding employment back home to get your foot in the door? Globalization -- I'm convinced the premium on international experience will continue to rise.

Best of luck,

Ven

 

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