Late To The Party
Hey guys, just seeking a bit of advice from some people who seem to be able to give some advice. I'm a graduate of St. John's University with a limited business background but am in my second semester of my M.B.A. program at S.J.U.
During my first semester this past fall I got caught following a dream and have been working at ESPN ever since. The problem is that this job is not nearly mentally stimulating enough and in addition it won't help me pay the student loans I picked up for the past five, going on six, years.
So, what would one would do in my situation? I obviously missed the cutoff for all the summer internships at all the big I-banks, my school is far down on the totem pole, but my drive and passion for business and investments is real. Basically, what would be the best way to set myself up for my best opportunity as I graduate next May? Interning at a startup hedge fund seems like a decent option but is obviously easier said than done. The goal is to end up as an I-banker and any suggestion is welcome.
I figured this could be a good place for any who are in a similar situation to me that either missed the cutoffs or were not granted a spot quite yet.
Thanks in advance to all who care to lend a hand.
Since youre at a non target school you need to network hard, get an internship or other Ibank exp ASAP. You should be cold calling on boutiques, MM's for sure.
PWM
@whateverittakes are you being serious or sarcastic?? Ive had an owner of a shop call it ibanking, never heard it was a lame term?
Much appreciated all. To elaborate, I had an offer from AXA that I decided against due to the ESPN gig. I imagine I'm not quite on the right track but still on a train that may be taking a bit more circuitous route.
One thing you shouldn't do is say you have a passion for finance, business, or investments. And by the way, you don't do any investing in banking hahah. Read around this site--search the world "network" and read every thread you find there. Tailor your resume to banking. The most realistic situation right now is to land a summer gig at a boutique/MM firm, but as an MBA student, even your chances there are pretty slim as MBA'ers join as an associate.
Networking is going to be the most likely way. OCR will be very tough.
our senior guys always say "banking" or "investment banking"...never have heard someone in the office say "ibanking"...call it "banking"...little things
Dually noted.
I see people like this on WSO and M&I everyday. You went to a complete non target, you did nothing related to finance, I'm assuming you didnt have top grades, and you are in a low tier MBA. Then somewhere along the line someone tells you that banking is prestigious and they earn a ton of money and you decide, at age 26 that you want to do it. Have you done any research at all? Banking has nothing to do with investments (in terms of hedge funds). Also how do you plan on beating the people who went to top schools, had top grades, and top relevant internship or job expierence? You worked at ESPN, I would take someone who did Corp dev at some no name company over you. Search around more on this site before asking us what to do.
I would not leave ESPN to work in banking.
I don't really see the need for the hostility, but I'll bite. My brother is in the industry and has given me some solid advice as well. Simply looking for another outlet to absorb information is never a bad thing. I don't expect anyone here to "tell me what to do" but rather see how others in the industry would tackle the subject if they were in my shoes.
And I'm actually 22. My GPA is more than fine and not everyone on this planet realizes what they want to do for a living at age 18. I understand there is a certain path that many go down to break into the industry, but I am also sure there have been numerous people who have gone about it another way. Attempting to belittle others because they discovered their talents later than you is a pretty poor way to go about life.
The reason I stated that I have a passion for business and investments is that I am the founder of my own small business and in my spare time I am constantly researching ways to invest my own money to earn a profit.
This doesn't make sense to me your brother is in the industry, but someone you still went to MBA immediately after undergrad, and he didn't say no thats a bad idea? Some brother you have....
If intellectual stultification is what is putting you off ESPN, think more carefully about IBD. it is probably just as mind numbing and the hours are going to be much more hellish on top of that.
OP dont get discouraged, Im 29 and just switched from RE finance after 6 years out of college and got a job with a MM as an associate. I know I have no shot at BB recruiting of course but this is my way in....foot in the door. I will pursue an MBA also for options after 2+ years in banking exp.
Make your own way!
Certainly. This was the type of feedback I was hoping for, from others who have taken an alternative approach. Much appreciated, good sir.
If what you say is true and your brother is in the industry then ask him for help because he can help you out much more than us. I'd go as far to say he could probably get you a job.
"Attempting to belittle others because they discovered their talents later than you is a pretty poor way to go about life." Really it doesn't take any talent in banking at least at the analyst level... You really need to do some more research at this stage. Not belittling you, just letting you know the cold hard truth.
"I am constantly researching ways to invest my own money to earn a profit." This sounds so wrong in so many ways. I've never heard anyone use the phrase "invest my own money to earn a profit" Isn't it a given that when you're investing you're hoping for positive cash flow? How much are you lying about to justify yourself to Malarki?
Hahah, no hard feelings, I'm just being a huge tool.
Im way too lazy to quote but there are just so many things wrong with what you have said.
But Ill repeat myself. Investment banking, at the the lower levels, has NOTHING to do with investing in terms markets. You invest to make a profit? O rly? Please tell me some of your strategies. And please dont put this on a resume.
You are 22 and you are at an MBA? And supposedly you have this brother in the industry. So you didnt ask your brother whether or not it would be prudent to go to an MBA straight out of college??
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