Car Salesman w/ Degree in Econ Trying to Redirect Career Path
I've been looking for advice everywhere and perusing through WSO for months now, so I figured I'd share my story. (I'm 23 y/o BTW)
I graduated from Texas A&M with a 2.3 GPA in '18 with a BS in Economics. I'm not a complete idiot, but the problem is that I was an Aerospace Engineering major as a freshman and that completely destroyed my GPA and motivation (it was literally rocket science). I was dismissed from the uni with a 1.6 GPA. First gen. college student who grew up mostly in Mexico, so a lot of this was new and overwhelming to me. Thankfully I was able to attend a community college for a few months and get readmitted.
Once back in the uni, I did a lot of introspecting and discovered that I was very passionate about the markets, investments, etc. I joined the investment club and started to get exposure to IB, etc. During my senior year, I placed 2nd in the orgs. stock pitch competition and was able to go to NYC with a group of students to visit some IBs, trading firms, and PE firms. This really opened my eyes and made me realize that it was what I wanted to do.
Thanks to that competition, I was granted a remote internship with a small biotech/pharma equity research firm. To be completely honest, I didn't learn much from it due to its remote nature, but it did give me something to put on my CV. Note that this was VERY late in the typical internship cycle (I was a senior in my last semester).
I took a job with a very reputable automotive company based out TX as a management trainee because the pay was great and I didn't have any offers in finance. In July, it will be 2 years since I started doing this. I'm currently in sales, but my official title is Internet Sales Manager. I'm trying to redirect my career into equity research, IB, or asset management. Not limited to those 3, but they're my preferred options. I recently took the GMAT and scored a 580. I work 6 days a week, so it's very difficult to study more than a few hours a week. The COVID-19 situation has really freed up some time for me to study more and ponder on what I really want and how I'm going to get there. I know my situation is far from ideal, but that's why I'm here. Any advice or pointers would be greatly appreciated. Reality checks, you name it. I'm all ears.
My current options are:
1. Get an MSF at UTSA (not the best program, but it'd be fairly easy to get in. I'd also get another shot at recruiting as a student).
2. Keep grinding and studying for the GMAT until I get an ideal score to get into a top 15-20 MBA (what one of the guys at a PE firm I visited recommend back in '18)
3. Continue looking for jobs with my current CV and see if I get lucky. I've landed 2 interviews as a Sales Trader. Made it a few rounds, but they ended up picking someone with more relevant experience.
Thanks!
Regarding an MBA, I think it would be rather difficult to get in with the low GPA and odd work experience. I used to sell cars and it doesn't really give you any relevant skills outside of consumer sales. Your advantages are your ethnicity (I'm assuming you're mexican, there's a program called the consortium that I would look into) and the fact that you still control your GMAT score. If you can find ANY blue chip experience (f&a, SaaS sales, anything corporate really) and do that for 2 years and get 720+ gmat I'd bet you could get into a lower ranked school in the consortium.
Thank you! I will look into it.
The MBA sounds like its out - like the other poster said.
MSF might work to open a door.
IB is likely out, unless you can get an internship to get your foot in the door at a regional shop (unlikely unless you know someone).
Equity Research and Asset Management could happen if you do a couple levels of the CFA program and then maybe intern your way through this route. But, I think the CFA exams may be difficult for you. The MSF could likely be easier.
I actually thought about taking the CFA after finishing the MSF program. non-target MSF looks like my most realistic option with current GMAT... Villanova, UT Austin, and Vanderbilt are the better options, but I don't want to spend another year trying to raise my GMAT. I'm not enjoying my current job at all and I'm only in it because it's relatively lucrative. Would non-target MSF even be worth the time and money?
I’m not very well versed in MSF programs, but check their job placement rates post graduation.
The CFA program is an arduous journey for most and it takes a few years. You’re not going to get a return on this time investment for years. Passing the CFA L1 exam looks ok on your resume, passing CFA L2 looks better. And this is about the time where you will look more attractive for internships.
The MSF could be more turnkey to a FT offer. The CFA could take a while.
But, if you have free time and want to learn, the CFA material could be useful for you and your path. So maybe view it as an investment in your skills as an investment management professional. If you want to get good at equity research or asset management, it can’t hurt to know these things.
Good stuff. I’m all about self-betterment and investing in myself. I’ll definitely give it some consideration. Thanks, man!
Maybe this is idealistic, but given the current COVID-19 situation you have quite a bit of time to study for the GMAT and get a better score. Also, you seem like you have an incredible story to tell, and I think b-schools would love to hear it. Given your passion and background (first gen, and I'm guessing you probably worked during uni), I think you have an ideal comeback story to write for your essays.
I appreciate the optimism! I’ve actually been studying for the past 2-3 weeks that I’ve spent at home. I’m going to finalize MSF apps over the next few days and continue studying once I wrap that up. My plan right now is to shoot for the MSF/CFA route, and if that doesn’t work out then find a more “corporate” job and apply to B-school with a better score.
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