Need some help/guidance/advice! College grad in mortgage program wanting to change positions
My current situation: I am in a two year mortgage underwriting program with a bulge bracket bank. I am almost half way through the program. The job is good for now for a relatively recent college grad: job experience, corporate experience, learn to work under pressure, organization, etc.
Like I just said, the job is good but I don't feel that it will take me to where I want to go to achieve my career aspirations.
The program has had its ups and downs. I am doing well in the job and and working to be recognized. That is important in any job.
However, the job itself gets pretty boring! I feel like a living machine sometimes. Our value is to be able to underwrite as much as possible in one day and not screw up. Auto-underwriting has not been successful or invented yet so here is where the people come in.
I also don't feel like I am learning anything anymore. Other than the occasional assistance I may need from my boss about a situation, I am good on my own.
Not to mention that we were promised rotational opportunities, which then became mortgage banking rotational opportunities, which then became a lecture about how the bank would like to keep us in this role currently preferable. The last point is fair since they trained us in this role, but why tickle us with the thoughts of rotating?
One thing in particular that make me concerned are the transferable skills. Yes, I have gained many soft skills from this job; however, the technical skills are tailored to mortgage underwriting.
I studied finance because I wanted to work in advanced finance - modeling, risk, forecasting.
I know everyone and their sister wants to be in investment banking.
I want to try and transfer to IB, or commercial banking, or an area of finance where I will be using more advanced finance.
I am a little concerned that I am losing these skills I learned in school. I did a little modeling a couple years ago, but because I have not done it in a while, I sort of have to learn again.
I've seen advertisements for Wall Street Academy (name?) where they teach you modeling. It's quite the pretty penny to play and I am not sure whether it is worth investing in quite yet.
What I need help with: Like any ambitious twenty-something, I want to choose what I do with my time wisely. Although I know I have a job in mortgage banking, I don't want to stay there after my program.
Shortly after the new year I am going to start feeling around, doing some networking again to see what's out there. Frankly, I don't expect the program to present us with any lucrative opportunities, which doesn't mean I'll stop working hard, I just don't trust the folks running it.
Before I finish with questions for you, I want to say this: I know that millennials have a bad rap for being impatient and unappreciative. I want to state that I am not that! I understand the importance of doing well at any job you work at, even if it's not your favorite. I know that although I am doing something that isn't ideal for me now, gaining the necessary two+ years of experience is important for a young person.
I am just highly motivated and driven to do well. I want to get as far as possible while I am still in my 20s so my 30s can be "smooth-ish" into my 40s --- middle aged! I just want to make the right choices.
From you: After reading all this, what are your thoughts of the following:
1) It's possible to network you way into IB, isn't it? Do you have any suggestions to break into IB considering my profile: completed program, top performer, etc.
2) Will I need to go back to school to really change areas of finance?
3) Advice for changing roles/areas of the bank
4) General advice
Thank you for reading and thoughtfully responding
