Hey guys,
Longtime lurker, first time poster.
I need some advice on whether or not to take an internship or not.
Background:
I’m an engineering student at a top Canadian school (UofT, Queens, UBC) and I am currently interning in the back office of a bank (not ideal, but trying to get my foot in the door). I’m trying my hardest to break in without any real contacts in the banking world. I’m also a fourth year student doing my third year (switched engineering disciplines, so had to redo second year). I don’t know if many of you are aware, but we are heavily pushed to do a year long internship, as it helps for fulltime recruiting for jobs. I got an offer as a junior engineer with the government, which I’m unsure about taking.
Dilemma
I don’t know if I should take the offer. It’s not something I want to do, or see myself doing. The only reason I’m considering taking it is that in case I can’t crack the front office, I’ll have some experience under my belt when I do end up graduating. Then it would be easier for me to find work as an engineer. In regards to my current back office job, I only took it to get my foot in the door and I’m doing everything I can to network my way into getting into the front office.
Question
Should I take the offer from the government? The pay is awful, it’s not something I would ever do. However, if I can’t make the front office, I wouldn’t return to the bank and I’d do engineering work while studying for a CFA. I just want to hedge my risk for the future. Side question: if anyone has any networking tips, do let me know.
Sorry about it being all over the place. Trying to get it done asap as the deadline for offer is tomorrow. All help is appreciated! Thank you everyone
It really depends on what you want to be doing. A lot of people vie for FO roles because their friends are doing the same or because it is known for being "prestigious" and highly paid, but it is not for everyone. From your post above, it seems as if you're an engineer by trade, and will take a job at a FO role in case it comes your way.
If you're genuinely interested in Finance, I would say reject the offer. As cliche as this sounds, at the end of the day, you need to be doing something that you're genuinely interested in. If you're just looking to secure a job, then I would say take the government job, grind it out and hope for a better placement after graduation. Finance isn't an easy field to crack..getting to the FO requires a lot of networking, time, patience, and genuine interest.
Also, UofT and UBC aren't notorious banking schools, and thus aren't considered "Top" universities for Finance in Canada. (Ivey, Queens, McGill) are the top picks for IB in Canada, so if you go to any of the ones I mentioned weren't top banking schools, that further limits your shot at a FT gig at a bank.
If you want more advice, I'd be happy to discuss this over PM. Good luck.
Thanks for the reply. Will PM.
What do you think about Rotman commerce? Will banks like RBC or TD hire ppl from there?
From what I know (take it with a grain of salt), they place more heavily at CIBC, but they of course get hired at any of the big 5 in Canada.
PM me and I can give you more details.
Rotman Commerce is also a Canadian target from what I know. Kids from that program will most definitely place well in Canadian banks. Similarly, an argument can also be made for perhaps the top 1% of students at Rotman placing in bigger boutiques/BB. Again, those students truly have to be exceptional.
The schools listed in my post above are more generally the targets for BB's/Boutiques. If you have any other questions feel free to PM.
Ah yes, the Business Assistant role/whatever they call it in the Ontario Ministry. The pay is around $11.25 CAD (minimum wage) to be the office errand person.
Take the job, public sector experience is decent - leverage that in interviews
And engineering at Queens is not "top". The top schools are Waterloo Eng >>>> U of T/UBC > McMaster/Queens > Trash schools
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