Fighting to get into finance in NYC
I’m a senior in college right now, studying econ and my entire path to this point has been crazy.
I wanted to get into finance since I was in high school. I got into a few good programs as a finance major. (IU Kelly, Baruch, Fordham) but honestly speaking my family is pretty broke. There was no way we’d get approved for loans so I actually ended up at a CC. While I was here I did a lot of networking, mostly IB, but i don’t even want to do that anymore. Now i’m at Rutgers doing Econ.
Ive had internships, i did a financial advisory internship which isn’t really anything special or noteworthy for a serious finance job. I’ve done other internships that i didn’t really want, but had to get so I could make money, like HR. I also worked as a research assistant with the school, in economic research but it wasn’t very analytical.
Im wondering how, and if I’d be able to get a role now. What should i apply
for? should i be extra and attach things like stock pitches and other valuation models to show my finance knowledge? I also am considering doing the CFA if nothing works but I obviously don’t want to spend half a year studying for it.
Or am screwed and should just pursue a role in HR at banking, which my current resume would have me be perfect for.
any advice to help a young kid like me out
Based on the most helpful WSO content, here are some detailed steps and advice to help you navigate your path into finance in NYC:
Steps to Take:
Leverage Your Network:
Tailor Your Applications:
Enhance Your Resume:
Consider Certifications:
Explore Different Roles:
Additional Tips:
Focus on Your Story:
Utilize Resources:
Stay Persistent:
Conclusion:
You’re not screwed; you have a solid foundation and valuable experiences. By strategically applying, leveraging your network, and possibly obtaining additional certifications, you can enhance your chances of landing a finance role in NYC. Stay focused, persistent, and open to various opportunities within the finance sector.
Sources: Career in Finance - Reality or Reach?, Easiest Banks to apply to, Finance Career Path & List, I got an offer, heres how you can too! (MM NYC), What major should I apply for at Columbia.
I'd say you should start applying to back office or middle office roles. The HR background will look good there but you also have some finance knowledge which will be desirable. From there you could maybe get your CFA or MBA after you do the BO or MO role for 2 years or so, then get into banking or whatever you want to do.
Also as much as the internal audit jobs get clowned on here, I've seen a bunch of people on LinkedIn that started there then pivoted to IB.
Hey man, I get the struggle, it’s tough out here. I would probably agree with this, ur not cooked at all I also see so many ppl internally transfer or just lateral in general. Hell I might even apply to these and I have decent internship experience. In my head it’s just about getting in the door, there’s so many paths. Head up.
Keep your head up, you're the farthest thing from cooked. I have a similar story and was only able to go to a decent college because of athletics. When I graduated I had only done 1 internship (a legitimate boiler room operation that completely ruined whatever idea of finance I had at that time).
TLDR: Don't be afraid to take what you can get, do a really good job at that, and parlay it into the next opportunity and the next opportunity. You aren't fucked, you haven't even started yet. Good luck
While trying to preserve some anonymity (forgive me if this is too vague), I was able to right the ship by taking what I could get at the time and then parlaying that into the next opportunity. For example, best I could do right out of college was a glorified assistant at a business. I liked that business, but it became very clear to me that at 22y.o. I did not want to do that exact job.
I studied the industry in detail and learned that there were acquirers of these businesses. That was a light switch moment and I pursued them extremely aggressively. I'd subscribe to the industry publications and reach out whenever I saw deal announcements. Eventually I talked my way into getting in the room with some of those acquirers. I did not have the pedigreed profile that they would have liked (I was also way younger than they would have liked) but I was able to impress them enough with my relative knowledge of the industry and sincere passion (desperation). The feedback I got after interviewing 7 times and meeting with 15 different people was "he is incredibly green, but he will run through walls for us".
I did that job for years and got promotions along the way but eventually wanted to get the polish that investment banking could provide. Fortunately, as active acquirers, I got plenty of exposure to banks marketing assets and treated every interaction with them as interviews. Asking smart questions, being pragmatic and resourceful, and never missing an opportunity to pass along the work I was doing (trying to show off at every turn). That led to an opportunity to join one of those teams, which I jumped on.
Continuing with that theme, once in banking I was interacting a ton with the sponsors participating in our auctions. Same thing, treated every interaction with them as an interview and never missed an opportunity to tactfully show off. That led to an opportunity to join those teams.
You get the idea... The point is, the starting point is the starting point and you have the real ability to dictate where you go from there. Don't get sucked into thinking the rigid path most talked about on this forum is the only way. Get creative, harness your ambition, take tremendous pride in your work, do right by your bosses, and never miss an opportunity to network/show your skills. You might be surprised how many doors open...
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