Can I even get into Finance?
Hi there everyone, let me get straight to brass tacks and type out the disgusting situation I've created for myself. I never really bothered in high school. Thankfully, I didn't let myself become a total failure, but I never went above and beyond. I did perfectly average. I had a 3.4 weighted GPA, 3.0 unweighted. On my SAT, which I never bothered to study for and just put whatever answer felt right, I got a 1010. (Planning to retake and this time with tutoring)
I never bothered with any AP courses and just did AP Spanish Language and AP Spanish Literature to knock out the requirements for my high school. I doubt any college is going to be creaming over those. And finally, last, which this one I had through no fault of my own: I am poor, my mother trying to support the both of us on minimum wage, so affording your typical university, especially an elite one is going to be extraordinarily challenging.
Realistically, I am not going to be able to go to a target school. I am going to have to go to a community college and transfer to a state university, most likely Florida International University.
My goal is to get into investment banking, but looking at the grave I am in, it's not the time for such crazy ambitions. it's time for me to think if I can even make it into this industry.
- 1. Is it over for me?
- 2. Can I still get into a high paying job in Finance albeit it not being IB?
- 3. Are there any FIU Alumni here who can speak if FIU is a good school for breaking in to the industry?
if you go on linkedin there are plenty of FIU alums on wall street, but you are going to have to grind hella hard and you need to ask yourself if you are capable of that, you cannot have a low gpa in college if you want IB
I am ready to put in the work. I'm lining up an SAT tutor soon and I'm going to see when I can start my applications for FIU. Thank you!
There’s a lot more to finance than IB, believe it or not. A lot of good roles, niches that don’t treat you like shit. You’ll be fine. The answer is yes.
As I begin to explore the very broad umbrella of Finance, what are some jobs you recommend I should look into as well? Thank you by the way.
Depends what interests you. Equity/credit research is more numbers oriented. Asset management/private wealth is people oriented. Other niches too.
I was in a similar situation as you and broke in. From a nontarg Its all about checking the right boxes(be better than your target peers at technicals, stay on top of the news, etc), being good at networking, and having a compelling story. Feel free to dm.
Tried to PM but it says I reached my limit. Thank you for sharing your story. I think I’m going to have to do the community college transfer route to FIU. Do you think that’ll hinder me from breaking in? Like I know at the end of the day it’ll appear as if I graduated from FIU, but I feel like this will hinder my ability to network since the first 2 years I’ll be at a community college.
I don’t really know what road to take or if I’m making a bigger deal of breaking in than it is.
Ideally try to transfer out after one year if possible. Otherwise make the most out of cc, I was also at CC but managed to snag FO roles at some brand name firms while in CC.
Similarly to you, I wasted my high school years away and didn't apply myself one bit. Grades suffered, and I got rejected by every uni I applied to (non-targets, too). I eventually got into one of the worst universities in my country and in a general degree. After giving it nearly everything I transferred near the end of my 2nd year to a low semi-target. After some more grinding and lots of networking/failed interviews, I'm now at a point where I've signed to and completed multiple internships that I used to previously dream of.
All that to say, not only is a career in finance possible for you, but so is IB at whatever place you're hoping for.
That’s really awesome and I am happy for you! I hope I can join you soon as a master of the universe. I’m still learning about all the financial jobs and I see you’re in Sales & Trading, what exactly is that? Are you making good money?
IB is the big one in my mind at the moment but I don’t know all the jobs yet, trying to get an idea.
Sales and trading is the global markets division of banks. It's usually broken down to trading, sales, and structuring. You're specializing in a product and serving clients by providing liquidity and helping them hedge their risks.
Comp is good, typically in line with IB in the junior levels and, on average, trails behind as you become more senior. Although bonuses can be quite variable based on market conditions and desk/individual performance.
Make sure to you look at all the roles across finance and pick one that resonates most with you. S&T is great and has many advantages over IB. That being said, don't settle for something that's not IB if you want to be in IB. You can place from pretty much any school if you have a good enough GPA and you grind hard. Case and point, there are people at Centerview from FIU.
Can’t you retake the SAT?? I’m 7 years out of HS so don’t know the timelines. Even with a better score it would be tough to break in with that GPA.
Definitely going to have to crush it in college.
Maybe you could go to a state school (with an improved GPA) and transfer into a target? Fairly certain you’d qualify for aid, but if they don’t cover everything loans aren’t the end of the world. Especially with a high salary out of undergrad.
All the best
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