Growing Up Poor - Transitioning to IB
Did any of you grow up poor and successfully transition to IB?
I feel really depressed some days thinking about how I have to balance learning to drive, working 2 jobs, summer school, and BIWS + Python courses. I have to do all this because of my own doing too; I fucked up, had some severe undiagnosed ADHD flare-ups (at the time I just thought I was an idiot not meant for university), and now have to compensate for my 3.4 GPA to get into finance clubs + coop this fall (I need the coop money + it allows me to live at home).
My family isn't necessarily poor either, I just get 0 financial support + don't qualify for bursaries because of their income, so unlike the few peers I know who are low-income, I never thought about working 10x as hard to compensate for poverty or securing full-ride scholarships in high school. This is the part that really kills me; my naivety and general stupidity to think I could break the broke/jobless cycle while putting in zero extra work to achieve that in high school. I was too focused on just surviving my family's abuse for 18 years and now I'm 19 and feel like a fucking degenerate. Although looking put together from the outside is paramount, my parents never really cared about my success or encouraged studying hard, my siblings are either in jail/bums, and every day I'm terrified that I'm going to be a failure just like them if I don't get it together. I'm doing everything I can while actively going through the ADHD diagnosis process, but I can't shake the feeling that I'm an idiot who is never making it to IB sometimes.
"Why IB?", the field with arguably some of the largest barriers to entry, you may be wondering. Quite frankly, I love finance, my dream is to make enough money *fast* to support myself/family, and then provide personal finance education to the less fortunate at some point. My university education is too expensive and valuable for me not to help the many people who can't afford to go. Overall, the key to the "why IB?" question is making money as fast as possible. I need to prove to myself that I can make it in one of the hardest industries for just 1 or 2 years, secure an exit opportunity, and help others.
I don't know where I'm going at this point, but I'm exhausted from comparing myself to peers who are richer, smarter, and happier than me. All I want is financial freedom and an IB full-time position. Any words of wisdom or motivation [that is not "don't do this career] would be greatly appreciated.
Based on the heartfelt stories shared on Wall Street Oasis, many individuals have indeed transitioned from challenging backgrounds to successful careers in Investment Banking (IB). Here are some insights and advice drawn from those experiences that might resonate with your situation:
Resilience and Determination: Many successful finance professionals have faced significant hardships, including financial difficulties and personal challenges. Your determination to overcome obstacles, such as balancing multiple responsibilities and addressing your ADHD, is a crucial trait that can propel you forward in the competitive field of IB.
Utilizing Resources: You mentioned using BIWS (Breaking Into Wall Street) and learning Python. These are excellent steps, as technical skills and financial modeling expertise are highly valued in IB. Continue to leverage such resources to enhance your skills and make yourself a more attractive candidate.
Networking and Mentorship: Engage actively with finance clubs and seek co-op positions as planned. These will not only enhance your resume but also provide valuable networking opportunities. Try to find mentors who can provide guidance, share their experiences, and possibly advocate for you during recruitment processes.
Addressing Academic Concerns: While a 3.4 GPA is not disqualifying, excelling in your remaining courses can help improve your academic standing. Additionally, focus on crafting a compelling story around your GPA, emphasizing your growth, responsibilities, and how you've managed challenges.
Mental Health and Support: It’s important to address your mental health needs as you navigate these challenges. The process of getting an ADHD diagnosis and subsequent management can significantly improve your focus and performance. Universities often offer counseling services that might be beneficial.
Long-Term Vision: Your goal to use your experience and success to help others is commendable. Keeping this vision in mind can serve as a strong motivational factor. Remember, many finance professionals eventually move into roles that allow them to have broader impacts on society, including philanthropy and education.
Embrace Your Unique Journey: Comparing yourself to peers can be disheartening. Try to focus on your path and progress. Everyone has a unique set of challenges and advantages, and your journey is yours alone.
Remember, your current efforts and the adversity you are overcoming can become powerful elements of your story, demonstrating your resilience and dedication—qualities that are highly respected in the finance industry. Keep pushing forward, and don't hesitate to seek support from communities like Wall Street Oasis, where many have shared similar experiences and can offer understanding and guidance.
Sources: Moving from extreme poverty to wealth via IB, Moving from extreme poverty to wealth via IB, People in IB: What is your socioeconomic upbringing and how did you initially gain interest in IB?
Your family abused you for 18 years, but your initial goal is to make money fast to support your family? What?
Parents* were abusive, I have younger siblings/people I care about
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