In serious need of career advice, please read.
Dear WSO, I’m a long term lurker, first time posting. I’m really desperate for your help, I know this might not be in the right forum, but it seems most of the sites traffic goes here. Please don't be mad, I just really need your help and you guys give the best advice that I've seen just about anywhere. I don’t know what direction to take and I know I’m going to get blasted by you guys for making a post like this, but I exhausted all methods and need some genuine advice.
I came from a non/semi-target school (Baruch) and I just recently graduated with a BBA in finance with a mediocre GPA (Cumulative 3.1, Finance GPA 3.3) and I live in NYC. I’m not even going to consider IBD because realistically, I have no chance.
I’m trying to explore a couple of other fields: corporate finance at F500, PWM, commercial banking, and lastly Asset Management.
I have little internship experience (only interned at an insurance firm doing admin work, and now I’m currently at a non-paid internship at start-up brokerage/advisory firm). I’m trying to figure out what the next best course of action is. My current firm is sponsoring me for the Series 7 and series 66 and I’ll be taking those within a month.
So I have a few questions:
1) Should I start applying now to commercial banking, corporate finance, pwm entry roles or should I search for an internship at these sectors before applying for entry roles?
2) For entry roles at F500, are the offices usually in NYC?
3) Which roles in F500 corporate finance are the easiest to break into?
4) Any chance of getting into rotational programs at this point with my stats? Also, does Corp Fin F500 usually prefer finance majors or accounting majors?
5) Would it give me a tiny advantage having the 7/66 for a PWM entry role at a BB?
6) I understand commercial banking is more relevant to businesses, but what are the specific names of the roles in commercial banking? And does it help having Series 7/66, what is the beginning salary?
Basically, given my stats, what would be the next course of action to take for 2-3 years until I go back to get a MBA?
I know this is a long post, but I really appreciate any of the help you guys can give me, I’m really desperate. Thanks in advance, for all the help. This website really helped me a lot, a ton of great info.
Not the best position to be in, but it is far from the worst. Since your current internship is sponsoring you for the 7 and 66, in my opinion, they are hinting at hiring you for FT after you pass those exams, so don't fail it!
Job searching aside, I'd start with converting that internship to a FT as a top priority if I were in your position. Secondly, you are pretty out of luck if you want anything with an "analyst class" since 1) you've already graduated and 2) you would be looking for something with an immediate start.
Have you tried Doostang? It is a paid job-search site, but I highly recommend it.
Since you are already in NYC, I would continue to network at ANY chance you get. Try MO office positions at various firms (Blackrock, Amex, etc).
7/66 definitely DOES help. It shows you are "in the door." Can't comment on your next 2-3 years or commercial banking salary but that isn't something to worry about now.
I don't think IB is out of the question. Is it a far reach? Yes, but doable. A lot of boutiques interviews throughout March - May, so I would reach out to any firm you can.
Good luck.
Analyst is for anyone that is still currently in college? When it comes to networking, should I start on linkedin or reach out through cold-call/emails? I'm going to try MO positions at those firms, but how should I start? What position should I be going for?
Some people have told me that 7/66 is useless since it's only useful for positions that requires trading securities, which I don't think I will be doing anytime soon.
Is it possible for me to get any immediate start / entry roles in PWM / commercial banking / corporate finance without going through the typical process?
As for IB, I really don't think I can do it, I'm going to be realistic and look for my options in F500 corp, commercial banking, and PWM.
If you can help with any of the additional questions, I'll really appreciate it. Thank you so much for your time!
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