Liberal arts to finance?
Thanks for the advice so far WSO
I'm a recent grad. I majored in Psychology and have lackluster work experience, but I did have one project coordinator internship. What do I do to best position myself to start a career in Finance?
Hit up some finance alums from your college and start networking like crazy. Ask them for advice over some coffee, etc.
Having already graduated without any prior relevant experience, you're in a tough position. Agree with what the poster above said about networking - just go in expecting advice and not referrals or job leads because it's going to be a journey for you.
I've done it, and many other have, too. Very doable, but that doesn't mean it will be easy. There are tons of resources out there about pursuing this very path, including many older threads on WSO. Definitely check those out.
You'll get a big boost breaking in if you attended a top-ranked LAC (liberal arts college) like one of the NESCAC schools or the Claremont colleges. Those schools tend to have a decent amount of alumni in finance/banking and being admitted to one at least signals to recruiters/HR/hiring committees that you have the horsepower to get shit done. So even if you didn't take econ classes or have internships in finance, you should still be able to make contacts with alumni and get your foot in the door somewhere. However, it's still a possibility even if you didn't attend a top LAC. It just may make the road a little harder. The first thing you'll need to be able to do is build credibility and value in your profile: you need to actually start working somewhere in finance and show that you want to be there.
So here's the part a lot of people in your situation might not like hearing: you're almost certainly not going to get a "high finance" or IB job straightaway. You're probably going to have to come at it from a different angle. You may need to find a role as a bookkeeping assistant or something along those lines just to get some finance/accounting/banking exposure. My advice would be to look for commercial banking roles. Target entry level commercial banking roles and really make it your goal (at least initially) to land interviews in this space. Being a credit analyst at a commercial bank is a great way to break into banking/finance as an outsider. Credit analysis is really all about scrutinizing financial statements and understanding the dynamics of cash flow and debt service. These are foundational skills for many roles in finance/banking. Disclaimer: credit analyst roles at commercial banks can still be quite competitive, and this probably won't be as easy as just sending a resume. But they're nowhere near as competitive as IB/Consulting. If you fail to get traction at the bigger banks, don't be afraid to look for credit analyst roles at smaller banks (regional or state-sized). Be diligent, highlight your best qualities, and find a way in. Even if you have to take what looks like a completely shitty role somewhere, do it. But make sure that you work your ass off from day one and show them that you want to move up and/or explore new roles.
After a few years as a credit analyst or the like, you should have a pretty clear picture of finance/accounting/banking--what you like, what you don't like, what you want to do, etc. So here is where you either go all-in on commercial banking and make a career out of it (and there's nothing wrong with that, as many relationship manager roles in CB can be quite lucrative and fulfilling) or you need to try to pivot into other areas. I'm assuming by the fact that you posted this in the IB forum that you want to eventually get into IB. To be completely honest, this will not be easy. But it is totally doable.
If you've used your time in commercial banking to broaden your network and learn skills outside your role (ones that are more IB/PE or public markets specific), you will be able to start inching your way into other areas of finance. It might be best to pursue additional education here (depending upon your situation, interests, etc, this could be an MBA, some other graduate degree, or a certification of some type). However you approach it, the most important thing will be to keep pumping up your value (i.e. the things that make people want to hire you, like your experiences, skill set, work ethic, references, etc) and building your network. Stay interested, stay eager, and stay hungry. It's possible.
I think going to a graduate school for a Master in Finance is a good option. In addition, you would be able to gain a lot of technical knowledge through coursework and projects. There are some programs in good business schools which don't require GMAT, for example, Middlebury, Brandeis. An entry-level position to get foot in the door is also a choice, and you could explore the industry from there.
I am not aware of any Master in Finance program at Middlebury College (VT). I don't believe that exists.
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