applying online - Email or call someone?
i have applied online to some jobs recently and i was wondering if theres anything i can do like email or call someone at these banks or if i must just wait....it seems like they never respond to me and i know i don't have the best pedigree but i did graduate from a top 50 undergrad with a 3.9 in finance
the market is saturated, especially now. Think about it, its the middle of may, all the colleges around the country are churning out seniors by butt loads.
There are something like 150 4 year colleges in NY area. Each with at least 250 or so business majors graduating this year(50 finance, 50 economics, 50 management, 50 marketing, 50 Accounting). Lets subtract marketing, since most of them will try going for a marketing career.
Still that leaves 30 thousand candidates in your area. Lets say 3/4 of those are bullshit colleges, or colleges over which you hold an obvious advantage. This leaves us with 7,500 students.
Out of those, lets say 20% already have jobs, and 30% don't get past the GPA threshold. This leaves us with 3,750 students, competing against you. Emailing every single job listing they can find.
Now the job market isn't that great. For entry level, there is probably something like 100 serious spots in New York area, by which I mean analyst(even operations), trader, manager etc. Then there are about 500 spots for bullshit jobs like Management Trainee at Hertz for $11/hour or the "Financial adviser" type jobs, now the "serious" people you are competing with, don't want those types of jobs, so they focus their efforts on the top jobs.
So 3,750 candidates for 50 jobs. All with decent schools, all with decent GPA, all with decent ECs, and probably half with bullshit job experience/crappy internship, essentially all on the same playing field.
So as you can see, your chances aren't that great, even if you have great stats. Your best bet is to network. Or you can try getting one of those bullshit jobs for a few years, those take people w/o even interviewing them.
yea i figured on all that...i was just wondering if i can do anything more then just submit my resume and apply online but you are saying that networking is all i can do beyond that...correct?
I agree, Networking and trying to get an informational interview are your best bets. Next time try conducting the informational interview before you apply, if things go well, sometimes they might let you list them as a reference which can help getting you at least a second longer look when they are going through resumes.
can always spend $125 and incorporate as a LLC, then just do that for a year or so while working some other bullshit job, and then apply to another better position and say you worked as an analyst at MTR Group, LLC.
LOL
That's some inventive shit right there.
It might get you in trouble, but inventive nonetheless.
Granted its complicated, and you'll need to get an EIN and fill out a few forms, but in the long run it'll be worth it.
Hell if you think about it, you can make a business out of it, sell experience to people for $200, hire a receptionist, which will answer the phone and look at the database. And tell the recruiters the people's info from a database.
Then every year change the name, to avoid getting black listed.
Talk about cheap start up costs: $125 for filing articles of organization(at least in NJ), and a few hours for paperwork. Then just hit up facebook, and offer people the service. Don't tell them the name of the company, until they pay.
And the revenue has a decent potential, lets say each college has 1% of people who'll want to participate. At a school with 20,000 students thats 200 people. $200 * 200 = $40,000 per year PER school.
Marketing will be easy too, just spam people on myspace, and facebook.
True there's some high multiple of applicants over good jobs. On the other hand 50 is clearly a huge exaggeration. Since there are more than 100 srious hedge funds in the NY area of a size that they hire at least one grad per year per fund, there's at least 100 good jobs without even considering investment banks (and of course Goldman+MS+Lehman alone will hire more than 50 grads this year). Fact remains it's competitive though.
You guys are like make-up.. you got this thread all covered. lol
This is actually the first "thought out" thread that I've seen on here; where the replies are given some good thought and analysis.
All except that LLC deal.. lol
Keep it up guys! ;)
I can easily see this on Dateline or CNBC.. lol
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