What would you do if you were me? (recent undergrad)
I'll keep this as brief as I can, any advice would be super helpful.
Recent grad out of an average school, 3.3 gpa, business admin - marketing
I just discovered this finance world (I did not know what time value of money was) last semester of school. Joined the investment club, read bloomberg daily, etc. It was too little too late. I've tried for months since I've graduated to just get a damn entry level job in finance, even BO, with no luck. I had some interviews, and apparently I interview very well, but having no relevant experience and the 3.3 gpa is killing me.
I have been decent with networking, met a bunch of CFAs lately, some alumni, but nobody seems to have that direct connection to a hiring manager. What should I do? I was thinking of getting some customer service job at a bank and banging out the CFA level 1, but after reading this forum it doesn't seem to be a good tool to BREAK in. Would the Series 7 give me better options? I manged to get a hold of a bunch of Wall Street Training videos and starting teaching myself modeling but after reading a bunch of posts I have a 0.5% chance of getting into banking, given my credentials.
I have nothing but time on my hands and I need money to pay rent, the opposite of most you guys! I've always done extremely well in math, so picking up the skills isn't the hard part. I can't find a path to put tangible things on my resume. What would you do?
You can't take the Series 7 unless you are sponsored. I have done CFA level I and II- it helps but requires a ton of effort. What exactly are you looking to do? Your number one priority should be finding a job of any kind. The hardest thing for you will be explaining a gap on your resume.
After reading these forums for hours and talking to people in my network, I think I'd do an awesome job in ER and pull my hairs out/die in banking. The only reason I haven't using my marketing degree to get a marketing job is because I don't want to be pigeon-held away from certain jobs and I definitely don't want to do marketing. I've always worked and saved since I was young so I can afford rent for a little while but it will run out soon.
MSF, pick up part time interships, done.
you make it sound so easy! other than acing the gmat, shouldn't I be doing things between now and admissions to try and get into the best school possible?
I had a 2.3 and no experience upon graduation. Took the MSF route, did intern and volunteer work for reputable firms while I was there (it really helps if you attend a school in or around a finance hub - around SF, NYC, Chicago), and managed to make my resume look great in under a year. Broke in relatively easily compared to people who were infinitely more qualified than me posting on WSO.
The MSF not only gives you the technicals, but it also allows you to develop your story. Employers will see that you were so interested in finance that you actually took an extra year of school to learn ONLY about finance.
So your in banking now? Did you have any internship when starting the MSF? Or was it after you started your MSF you did an internship..
Get a fucking job in between.
Didn't you say you need to pay rent?
You can keep looking but I agree with duffmt6, get any job...kill it for a few years...and then go back to b-school to get into finance. In the meantime, I would take the CFA...its a bitch but it'll prove to employers you are serious about getting into the finance world
Thanks for the help everybody. Cries, your story definitely gives me encouragement. I meet a lot of people and I always manage to talk myself up the right way and impress them...until they see my resume :( MARKETING
Is there a resource to find more about MSF like admissions? Woudln't I want to sell my arms and legs to try and get into a top quant school like Berkeley?
http://msfhq.com/
No resources are published, however I have a number connections at Tulane's MSF and Energy program. The average at Tulane (1st/2nd tier MSF) is about 650 gmat and middle 3. gpa. As with MBA admissions test scores aren't everything. Essays and the interview count just as much as that 720 3.85 you worked so hard for as an undergrad.
They want to know you have the resources and ability to land a position after their one year "placement program." If you are interested in moving into finance from marketing MSF is one of the best ways to do it. Be involved on campus and with Alumni and you will get interviews. From there it's all on you.
Any reasons you guys are recommending MSF vs MBA for OP to break into ER? I am a new monkey/also developed recent passion for finance/investments/ER like the OP (however I work in bio currently) and from my limited research a top-tiered MBA (easier said then done) is the best bet to break in, although with that said I haven't done much research in MSF programs.
MSF is better when you have limited work experience, whereas most people do MBA 4-6 years out of undergrad.
Agree with duff. MSF is great for people like dancelikenobody who have a very slim chance to break into finance in their current academic state. The MSF can provide, not only a fresh start (GPA), but also proves to employers you are truly interested in finance, and were willing to take another year a classes ONLY on finance.
Top MBA is undoubtedly a better degree for recruitment and placement, but with less than stellar stats MSF can provide a TON of benefit. I know many people who have done MSF and been fortunate enough not to waste 4-6 years doing a job they have no passion for.
what kind of benefit would an entry-level accounting job have? could that hurt me in any way if I really wanted to do ER? passing cfa I should at least show I'm serious...I would hope.
apply for BO jobs.
Could also consider an MSc from, say LSE.
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