Looking For Some Career Advice
Hello, this is my first time posting here so not really sure what to expect.
I'm currently in Boston working as a fund accountant for state street bank and I am looking to move to New York to work for a bigger bank with a more challenging role. Problem is I don't really know what's out there/what I'm "qualified" to do. I've been stuck in the back office since I graduated 4 years ago and I'm looking to get out, but not really sure how.
I feel like staying with the same shitty job for almost 4 years has hurt me in terms of career advancement because fund accounting for state street isn't the sexiest thing to have on a resume when you are applying for middle office jobs at big banks.
I've been applying to a few big name banks in NY (mostly middle office, some back office positions too) using references from people I know who work there to at least try and get a call back, but no luck so far.
Is it hopeless to keep applying to these banks (think BarCap, JPM, MS) and expect to even be considered, or am I just being impatient?
A little more about me: I have a degree in Econ from Boston College and a 3.3 gpa and took a job at Investors Bank & Trust (soon bought by SS) job right after college when i was desperate for a job. Ended up staying there, getting promoted within a year, and then when the market went to shit stayed for the job security I have here. Once i hit 3 years here (and got the 3 yr 10k bonus legacy IBT'ers were promised) in march I started looking for a new job with nothing promising. Can't even find a recruiter...
Anyways, any advice anyone has would be appreciated. thanks.
There's nothing wrong with working at your job and continuing to look around elsewhere. That said, you might want to consider taking a GMAT study course (or just getting some good study materials) and then taking the GMAT. Business school will definitely help you to get out of the back office, and given your goals of mid office or better, a top 20 school will definitely give you a great shot of breaking into something more interesting and challenging.
That said, the GMAT is just one part of the B school app. You will need to, at the very least, sell your candidacy (specifically your work experience since you don't seem too excited about it) in your essays. If you can't find and articulate some good points and noteworthy projects/experiences, you will definitely have a tough time proving yourself to the admission's committee.
Check out this article for more on B school and good luck:
http://www.bankonbanking.com/2009/11/12/applying-to-business-school-par…
Business school appears to be your best bet.
But you have to do everything in your power to ensure that it is in the top 12. Anything further out will not help you at all in terms of banking. Go pick up some weird hobby or start some foundation, then get a 700 on your GMAT and you should be fine.
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