The Wells Fargo Teller job parlay into IB...

I can't say from experience, but from a generalized point of view I would work very hard to stand out in your role as a FinRep and after kicking ass in that position I would reach out to senior people in the securities department using the WF internal database you will hopefully have access to. The amount of time before reaching out to these people will depend on the amount of responsibilities you have assumed at your retail role.

I would also self study all of the materials you would need to know if you were in the securities role so they know they won't have to train you coming from a very different background.

No. There is no connection and a bank teller isn't even back office. There are no internal channels to be worked. If you want to work at WFS, you need to go back to school (MSF, MBA, etc) and go through recruiting.

There aren't channels between retail and IBD. The way I see it, your best bet is to try your luck with a PWM job at a reputable name. Hell, even corporate finance at a bread factory would be better. If you absolutely need the cash, take the job and try to network your way into private banking at WF and then go for a decent business school after a few years and aim for IB after graduating.

I have an friend who started off as a personal banker and never left. There has to be a better option out there for you -- you're either not trying or wanting it bad enough.

and there you go ^, listen to professional and storib...

I'm gonna have to take this job as its the only offer I've gotten. I most definitely do not want to be a career personal banker. I heed the statement there are no channels between retail and IBD.

I am in San Diego. I have a Finance degree from SDSU and 4 years of experience in a totally unrelated field (Fireman/Paramedic).

The only thing I have going is an acquaintance at LPL Financial who has supposedly passed my resume on to a recruiter and an "informational interview" with a local investment banker I reached out to via the finance and investment society of SDSU. I've also applied to Qualcomm about 4 times now for finance jobs.

Should I just start amassing a list of names and numbers at every PWM firm in San Diego, and start calling them everyday?

Suggestions....

There is a 0% chance of this happening. In a bank, the retail division and the IBD are treated as two different companies. Think of the two divisions of Federal Express... its divided into fedex ground and fedex express...they're one company but the two divisions never talk to each other (try giving a fedex ground guy your fedex express envelope, he'll laugh in your face). Do not become a teller in hopes that it'll land you a sick position in IBD...it will never happen..there is a better chance of you hitting the lottery. Listen to STorIB, once you in (like his friend) you'll never get out.

Kick ass, take on a lot of responsibility, and make some meaningful changes to improve the business...and then go to b-school if you can't change careers beforehand.

Motivation: http://www.hbs.edu/mba/perspectives/students/2011/ccoto.html

Got it. No connection.

I'm becoming a teller out of necessity. Taking the job in the first place is requiring me to swallow my pride and I don't feel very amazing about it....but like I said, it's necessary at this point. I have no income.

I have loosely started studying for the CFA Level 1 exam in June and thats about all I have going on. I have no Ivy League education, aren't eligible for OCR and have little experience.

Guidance and practical direction is what I seek.

One of the reasons I am studying for the CFA was to rebrand myself and try and compensate for my undergraduate record and school pedigree. As a Firefighter/Paramedic, I DID receive a prestigious award and was promoted twice while receiving multiple credentials related to public safety.

Getting into an MBA program is the hurdle I see at the moment, although i would love to go, I'm not proud of my academic record and feel as though i need to do something significant to bolster my resume.

Second the notion that b-school is the way to go.

move to a city that does have a financial center and NETWORK. I knew a guy @ TRowe (associate analyst) who started out as a teller but climbed his way up via networking - great "rags to riches (kinda)" story

B-School it is then. I went to a State University, my GPA is like 3.2, Finance Major.

Do I even have a chance of getting into a good B-School? I would need to ace the GMAT, that is a given and I'm willing to study for it. Should I forgo the CFA studying and study for the GMAT instead? Is it too late this year for B-School?

I mean I am downright ashamed of my undergraduate record to the point I feel I've crippled myself. It is not representative of my ability and I have nobody to blame but myself. Where do I go from here is the question.

I'm not sure what you did wrong because being a bank teller won't help you at all. I'm in school (sophomore) and you and I have the same job. I'm going to assume that you didn't do much in the way of networking while you were in school... So this is what you're going to have to do now..

Network...I sense that you're a shy individual..so you're going to have to break that idea and talk to everyone starting first and foremost with your customers. You'll also need to be searching job boards and career websites of all boutique investment banks and emailing EVERYONE. If you scour this site a bit you'll find that many of the prominent members emailed many people before they were even given an interview let alone an offer. The bottom line is this, you're going to have to work harder than you've worked during your time at college if you want to have a shot to achieve your dream. While it may seem impossible and difficult at this juncture in time, it can be done you're just going to have to want it more than you want it right now. Because lets be honest, you really don't want it that bad right now if you have to settle for a teller job.

Aiming for 2012 MBA programs has a logistical side to it. Since I have not taken nor prepared for the GMAT, I would need to do both. Most schools are currently transitioning from 2nd round to 3rd round admissions...considering I would need at least a couple months to prepare for the GMAT, I would be missing final opportunities to apply for 3rd rounds. I am also risking a worse score than If I'd studied for longer which might affect future applications if I don't get in.

Just some preliminary thoughts....what do you guys think?

Just want to thank everybody for the insight, I truly appreciate it.

rothyman:

....But don't sell it short. Becoming good in sales can lead to almost any job venture. If you are personable, down to earth, top sales of your division and good at talking to to wealthier individuals, some S&T teams may snatch you up. More often than not though, these people end up being FAs or Private Bankers.. totally a different ball game.

Ding ding best advice in the whole thread!

My job searching efforts I'd rate at about a 6.5. I send out hundreds of resumes which I've learned to be useless. I've networked by using linked in a bit and some friends...results have been mediocre.

What I absolutely haven't done yet is amassed lists of people working at local IB and PWM firms and started calling daily. My buddy who used to work for Thomas Weisel said he built a spreadsheet with names and numbers of every firm that had a job he'd like to work...eventually was in equity sales. Any additional insight on the actual practical approach of doing this?

If I take the WF job, I will make the best of it and get some sales experience. However I truly think the parlay into IB doesnt exist. Are there any other worthy positions with WF I could use as a stepping stone that aren't necessarily in WF Securities?

CFA L1 takes 6 months of study max. I can't imagine the GMAT takes more. L1 is offered in December and June, while the GMAT is offered throughout the year. No reason to forgo one for the other.

In any event, your time is better spent networking.

The last round for admissions is around end of January-February. That may not be enough time to study for the GMAT. And if I do study for it, taking the CFA won't be an option for June. Might be a better idea to try for the CFA since I've got nothing else going on, then study for the GMAT over the summer and apply for early admission rounds in September/October.

Being CFA is only good if you're trying to get into ER or other investment management positions. Why don't you do your MSF, if you don't think you'll be competitive for a top MBA?

Did you look at Sempra or Qualcomm for the rotational programs? They are more accounting oriented but have more solid experience than bank teller at WF. Sempra's M&A Dept. is very tough to get in and internally is the only way. But if you get in you would have solid experience, but they are down to less than 10 people thanks to cuts last year.

There is a professor at school that is very helpful in placing students to the right people for jobs. He has a major Qualcomm contact as well. Actually, I can think of four professors off the top of my head that are extremely helpful to students that take the time to ask them for help. Go visit them during office hours when the semester starts. They are the four most known finance professors there for a reason. Tell them your story and ask them about the CFA/MBA. One professor was President of the CFA society in your town.

3.2 in that program is not that bad actually, average is 2.6. The grades are kept at that average on purpose, much to many of the professor's disliking.

Try walking into a FIS meeting. They used to be on Monday nights last year, you can get some good companies and a personal resume drop there. Join the alumni association if you haven't. They have networking events frequently. One was at the Dean's house last summer.

There are M&A intermediaries as well, two off the top of my head I can name. Maybe more? Would recommend that as last resort though.

Lots of little PE funds but they are halfway funded and its pretty hard to break-in as they generally take analysts off the street.

The career fairs at that school are worthless. You have to network to get anywhere out there. You will not find any job in finance online, guaranteed.

And move to a financial hub if you are a serious about a career in finance. There are two other major cities in that state with opportunities, you don't have to necessarily move cross-country to get a good gig.

Good luck and don't give in to the Peter Pan lifestyle out there bro ;)

Moving from teller at your local Wells branch to IB is like moving from bartending to IB. Not to say it isn't possible, but you got to realize that it isn't relevant experience. If you ABSOLUTELY need money, then it's whatever--you know your financial situation better than we do--but definitely keep looking around for ANYTHING if/while you do it. Corp fin would be much better for IB. Granted those jobs aren't exactly falling off of trees and I imagine you probably have scoured that path already (if you haven't, then get on it). Even a financial advisory/PWM job would be better--not optimal for IB, but far better than being a teller. I know Wells Fargo Advisors is hiring now as well.

From my understanding (and I don't work at Wells Fargo), it's possible, but not entirely likely. I do know that there is a guy who made the Forbes 30 under 30 list who did something very similar at Wells Fargo, but only after going to grad school for finance. I also think that he wasn't a teller, but a personal banker.

milk the firefighter/paramedic angle when reaching out to people. You can parlay that with things like having real life experience, being organized, leaderships skills etc. Whether it is applying for school or cold emailing people.

Good luck.

you should be a personal banker instead of a teller

This was 3 years ago... Not sure he needs advice on being a teller anymore

my mentor started at WF as a teller in a small town here in CA then moved to branch manager in 10 months. now he's head of prime brokerage for a sector at a BB in NYC.

since this moron dug up a 4 year old thread, it would be cool to get an update from OP.