6 months w/o permanent job in finance/finance related @ 23 years old. Is it over?
Finished MA in Econ at semi-target May '25. Looking to work in IB (specifically industrials) or other ABS (aviation, shipping) finance, or directly in maritime (lending, research, in-house finance, etc). Already a small job mkt for that industry, but widening search to lending and commercial banking in general. No SA experience under my belt. Currently interning w/ major industry player, but want to land on my feet before I start owing my student loan servicers. Not getting any help from my already-small family isn't making it easier.
Is there a route to getting some experience on high finance side still, or am I just fucked?
its not too late, but broaden your scope and dont limit yourself. I've a few years of experience and been out of a job for 15 months, granted it was MO. But im also on the trading side of things and trying get junior spots there. IB type roles I'm not sure. I would say its more difficultl bc you need experience in IB
Thanks. Trading interests me too, especially commodity trading. Part of my studies were related to trading and contract/option pricing with other quant strategies sprinkled in. Some of the counterparties of this company I'm with right now are traders. Do you think they'd be good to talk to (pending approval from my current boss(es))?
It’s not over—far from it. Based on the most helpful WSO content, here’s what you need to focus on to turn things around:
Leverage Your Internship:
You're interning with a major industry player, which is a great starting point. Use this opportunity to network aggressively within the company and the industry. Seek informational interviews with professionals in IB, ABS finance, or maritime finance. Express your interest in transitioning to a full-time role and ask for advice or referrals.
Expand Your Search:
While your focus on industrials and ABS finance is admirable, consider broadening your scope to include corporate banking, leveraged finance, or even mezzanine funds. These areas often overlap with your interests and can serve as a stepping stone to IB or specialized finance roles.
Highlight Transferable Skills:
Without SA experience, you’ll need to emphasize the skills and knowledge gained during your MA in Economics and your internship. Tailor your resume to showcase financial modeling, research, and analytical skills relevant to IB or ABS finance.
Cold Outreach:
Start cold emailing professionals in your target industries. Focus on alumni from your semi-target school or individuals with similar career paths. Keep your emails concise, expressing your interest in their work and asking for a brief call to learn more about their career.
Consider Boutique Firms:
Smaller boutique IBs or specialized ABS finance firms may be more open to candidates without traditional SA experience. These firms often value passion and a willingness to learn over pedigree.
Certifications and Skills:
If you haven’t already, consider pursuing certifications like CFA Level 1 or financial modeling courses. These can help bridge the gap in your experience and demonstrate your commitment to the field.
Stay Persistent:
The job market can be tough, but persistence pays off. Keep applying, networking, and refining your approach. Remember, many professionals in high finance didn’t follow a linear path to success.
Backup Plan:
If IB or ABS finance doesn’t materialize immediately, roles in commercial banking, corporate finance, or even maritime-related research can provide valuable experience and a platform to pivot later.
You’re only 23, and while the clock may feel like it’s ticking, you have plenty of time to build your career. Keep pushing, stay focused, and don’t hesitate to seek advice or mentorship along the way.
Sources: Career in Finance - Reality or Reach?, A Guide for Switching From Commercial Banking to Investment Banking, Why the focus on exit opps?, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii
I won't disclose how old I am, but I couldn't get a full-time role right out of college when I first graduated. I was super depressed, especially since I wasn't a good test taker and knew getting a top MBA would be hard without good work experience to boot.
I took on a temp job in FP&A, took the GMAT to get a masters in accounting to become CPA-eligible, and grinded through some absolutely miserable roles in audit and TS. Now, I'm in a restructuring consulting role doing work I like and have enough experience, having tried multiple things, to know what I want and don't want out of my career. It took me a long ass time to get here, but I also am not naturally bright and certainly didn't even go to a semi-target school.
Point of all this? Your career is a marathon, not a sprint. When you're 25 and seeing your friends flashing their $200K jobs at GS/MS/JPM, it'll seem a bit hopeless. I know because I've been there before. You have to realize though that if you really want this bad enough, you'll do whatever it takes to get to where you want and you need to have faith you'll get there.
I think you'll also realize that these jobs really aren't anything special. Some of the wealthiest people I know who went on to work in PE/HF are the most miserable people I've ever met. I'd rather be me than them any day even though they're worth literally 5-10x what I am. Your health, relationships, and feeling of agency will determine your happiness way more than any job will.
Keep striving, don't be afraid to start small, and you'll get where you want to be. Best of luck to you and keep your head up!
Thanks for your encouragement. I've never understood the allure to high finance; corpdev and in-house finance work is much more attractive not just because of a better WLB, but because my field of interest trumps all other factors. I'm not so worried about the money as long as I can pay off my loans for now. However, it is clear that IB has a very defined career path, and laterals are very easy, which is why I've taken an interest in it all of a sudden.
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