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Wall Street for College dropouts
 

Dropout101's picture
(Chimp, 2
 
Points)
 on 5/12/12 at 4:04pm

Does anyone believe one can still obtain a job in finance and work themselves up the ladder without college? What possible routes could one enter a career in High Finance without a degree?

One famous example I read was Ryan Kavanaugh (Relativity Media) Dean Witter Reynolds hired him and he never graduated college. And Ive noticed a few posts on WSO from individuals who have worked at firms without college degrees. Are these firms actually legitimate and are they still around? No Boiler Room stuff going on?

I understand the norm is to obtain a degree, (usually from a Target). But I cant help to wonder, what if someone tried a different route.
(I'm not a dropout btw)

moneymogul's picture

Pretty sure I read that Ryan

IB
 
Points)
 on 5/12/12 at 4:31pm

Pretty sure I read that Ryan Kavanaugh's dad hooked him up with that job.

MD finance's picture

Dropout101: Does anyone

(Monkey, 49
 
Points)
 on 5/12/12 at 6:02pm
Dropout101:

Does anyone believe one can still obtain a job in finance and work themselves up the ladder without college? What possible routes could one enter a career in High Finance without a degree?

One famous example I read was Ryan Kavanaugh (Relativity Media) Dean Witter Reynolds hired him and he never graduated college. And Ive noticed a few posts on WSO from individuals who have worked at firms without college degrees. Are these firms actually legitimate and are they still around? No Boiler Room stuff going on?

I understand the norm is to obtain a degree, (usually from a Target). But I cant help to wonder, what if someone tried a different route.
(I'm not a dropout btw)

No not in this age and time. you need collage and to be major in finance to work in wall street

WSOusername's picture

You can do whatever the hell

 
Points)
 on 5/12/12 at 7:30pm

You can do whatever the hell you want. College sets you up to be a career employee, the money is in being a baws. That being said, you do need to be smart and the majority of the friends I have who didnt go to college are fukin morons. So thats why theres a strong correlation between college and success, not necessarily because one leads to the other but because if you're not driven enough to go to college, odds are you're not driven enough to do something else. There are plenty of people who didn't that are successful, but they are certainly the exception not the rule. As far as getting a job on Wall Street without a degree, imma have to go with no, lol (again though, thats far from the only way to make good money). These are all just my opinions obviously.

GBS

UFOinsider's picture

A VP in my group didn't

O
(Human, 10,462
 
Points)
 on 5/12/12 at 7:37pm

A VP in my group didn't finish college, but that was a different era. Finish school. If you major in Econ/finance/accounting, your life will be easier.

I just had my first UFO experience.

I called my wife fat while we were making dinner.

Flying saucers everywhere XD

BTbanker's picture

Anything is possible.

IB
 
Points)
 on 5/12/12 at 7:41pm

Anything is possible.

"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan

cyoungmark's picture

I once heard a story of a kid

(Monkey, 35
 
Points)
 on 5/26/12 at 1:23pm

I once heard a story of a kid who started as a teller and became an analyst.

Tolland15's picture

"Dropout101" isn't a dropout

O
(Baboon, 150
 
Points)
 on 6/8/12 at 10:17am

"Dropout101" isn't a dropout huh?

Nothing short of having a dad that runs an FS firm will get you a job without a degree. There are kids from middle-top tier schools not getting jobs they want. Definitely will not reflect well on your work ethic or career ambitions that you can't finish four years of education.

"why would we invest in you if you don't invest in yourself?"
a. They wouldn't.

I was taught that the human brain was the crowning glory of evolution so far, but I think it's a very poor scheme for survival.

SirBarney's picture

A college degree quantifies

O
(Gorilla, 505
 
Points)
 on 6/8/12 at 11:22am

A college degree quantifies your intelligence so employers can determine how smart you are. So if you don't get a college degree you'll need another way to prove that you're as smart as you say you are. Say develop the theory of general relativity, invent the light bulb, or start up a multi-billion dollar company.

UFOinsider's picture

Your only real option is

O
(Human, 10,462
 
Points)
 on 6/8/12 at 12:05pm

Your only real option is bucket shops, PM EddieB about that stuff. You can make money there, but the amount of work and luck involved is ridic. Just go back to school.

FWIW, I dropped out for like five years and went back...best decision ever. The day you go to a career fair and people actually talk to you feels like you joined the world of the living again. Just do it.

DO IT NOW

I just had my first UFO experience.

I called my wife fat while we were making dinner.

Flying saucers everywhere XD

jimz's picture

During my SA stint, I heard

(Orangutan, 264
 
Points)
 on 6/8/12 at 11:31pm

During my SA stint, I heard stories of guys working on trading desks at Salomon, Merrill, First Boston without college degrees. However this was in the 80's and I doubt you could end up on the oil trading desk at Goldman with a just a high school diploma. However like to poster above me said, anything is possible.

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