Best jobs while transitioning
Hi all,
I'm in the process of teaching myself excel and financial modeling to hopefully land an analyst position with an investment bank. I currently work for a communications firm in NYC, which is very demanding and unpredictable because we work on crisis situations and other intensive activities like M&A.
I have enough money saved up so I can afford to take a lower paying job that will give me more time to teach myself what I need to know, network, and ultimately land a position. I'm a 2012 liberal arts grad, so I have no technical skills.
Are there are jobs you guys can think of that are worth looking into while I negotiate this transition? Jobs that wouldn't make it even more difficult to land an analyst position?
Thanks and I look forward to your thoughts.
This might not be what you wish to hear but I think it will be very difficult - dare I say almost impossible - to break in with that background unless you have some serious family connections (e.g. one of your parents knows a MD/Partner/CEO/etc. of an investment bank).
Your best bet would be to return to school. Either a M.S. in Finance, or an MBA. If you are able to get into a strong program with on-campus recruiting and/or solid representation on Wall Street, it would make this career change a lot easier for you.
If you absolutely cannot or do not wish to return to school, the only option I can think of is to aggressively network and persuade someone at a small regional boutique to give you a shot as an analyst.
In case you are unfamiliar, a boutique investment bank is a smaller investment bank that is similar to bulge bracket investment banks (e.g. Goldman Sachs, Morgan Stanley) except they work on smaller deals (usually under $500 million)
Also, keep in mind that there are two types of boutiques: There are the larger (though still small compared to a bulge bracket firm) well-established boutiques such as Lazard, Moelis (on this board, they are sometimes referred to as "elite boutiques"). These firms are actually just as competitive as the bulge bracket firms and you will not be able to break in unless you somehow have the aforementioned familial connection with someone inside the bank.
Your only realistic shot will be at a very small firm (e.g. less than 50 employees and maybe even as small as just 2 employees) that is virtually unknown, even amongst people in the industry. There is a list of these available on the web and you should be able to find the list with a simple google search.
In your case, blow jobs would be the best jobs for making that transition.
@Deo et Patriae: I appreciate your thoughts, and the reality check. Though, I'm curious why you think it might be impossible, or close to it, for me to break in. For additional background, I went to a target university and I have a target GPA. I had an interview with UBS' healthcare group in my senior year of college, but the position ultimately went to an internal candidate. I took the job I have because it was the only offer I got and I wanted to start working. If anything, I'm a better candidate than I was as a college grad because I know a bit more about business and I have worked in a professional setting (though, not nearly as demanding as IB). Is your main point that I'm from a non-target background? Or that because I've been out of school for two years, I'm no longer a contender? Based on anecdotes I've heard, both of those issues can be overcome with a disciplined effort, which is why I'm asking for advice on what a "transition" job might be.
I would like to go back to school, but I'm not interested in getting a masters in finance and I highly doubt I could get into a competitive MBA program even after 5 years of work experience at my firm because its not a business role and I'm not developing the skills MBA programs seem to look for.
@Flake: That's an excellent joke (seriously).
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