Undergrads: Non-finance, non-target, not a problem. 5 Steps to get you started.

Are you not a finance major or business major? Breaking into finance can seem incredibly difficult because you won't have the same background knowledge as someone whose major IS business. But here's how any major can take the first steps to breaking into investment banking.

Step 1: Taking the first step

Join a finance, investment, or investment banking club on campus

This is the basic first step. You need to join a club that relates to finance. This shows initiative and an interest. While you may not gain all the knowledge you need to perform as a finance intern, it gives you something to point to when an employer asks you why you want to get into investment banking or finance.

Step 2: You can't replace knowledge

Before you can call up a finance company, you need to know what you'll have to do

As a non-finance major, you're going to need to understand basic finance terms with the help of bloomberg, investopedia, wikipedia, and wallstreetoasis. The next step is looking up the most common responsibilities as an intern in that job and learning how to do each job. By doing this, you prepare yourself for the interview and the job at hand.

Step 3: Shoot small first

Private Wealth Management firms are always looking for interns

It's a recurring thing that I have heard. PWM wants interns almost all the time. It's time to man up and cold call the Merrill Lynch's and Morgan Stanley PWM in your area and inquire about an internship. You don't need a super extensive background and generally, it'll be an easier start to professional finance experience than trying to immediately jump into an analyst position.

Step 4: Explore your other options

Use your school to your advantage!

Ever thought of becoming a teaching assistant or research assistant? Taking a class in finance or economics and then talking your way into a simple and small job like this can easily be put on your resume. It's more experience and it shows you have a growing interest. Don't completely dismiss a class just because it's not a part of your current major (even if you don't plan on switching from whatever major you have right now). These are just a couple ideas but there are plenty of things you can do, you just need to come up with them.

Step 5: Determination

It might take 50 rejections before your first acceptance or chance, don't give up!

Often times the hardest part is getting your foot in the door. That's why you need to cold call as much as possible. Try to avoid cold e-mailing because often times you'll be ignored. If you cold call, you can be directed to HR or find out right away that the place isn't hiring so you don't get your hopes up. Constantly clean up your resume and cover letter and compare them with professionals to understand how you can improve yours.

Final words

I have sent out many applications, I have leadership positions, I have multiples things showing that I have an interest in finance. I go to a non-target so that hurts me a little. But I am determined and I have seen results. Don't give up and although you might not make it into Goldman or JPMorgan right away, you still have many chances. There are many paths to where you want to end up so don't be discouraged when one of them doesn't pay off!

Good luck