Do I Have a Chance - Undergrad degree from non-target
hello guys!
Wanted to get some expert opinions...
Moved to NYC last year and started at a retail brokerage firm. I like Asset Management but wanted to make the move into IB. Here are the two catches.
1.My Undergrad degree is from a non target school (finance).
2. I have two drug related arrests while I was in college. One was a misdemeanor (possession) but the other was a felony for cultivation of cannabis. (I was adjudicated not guilty not convicted of the felony but it still shows as a felony arrest).
I am willing to get an MBA to make myself a more robust candidate but do not want to go through the expense and time if the record is a deal breaker.
Any advice is greatly appreciated!
Talk to a lawyer. You'll get a lot of useless advice on question #2 here. As far as coming from a non-target, that can be overcome if you're smart, hungry, and personable.
You need to get your criminal activity removed or expunged as DickFUld said - talk to a lawyer. You will need to network like crazy, and cold call small shops for unpaid internships.
Good to know that I have a chance, unfortunately the charge cant be expunged. I have a good amount of phone experience, you suggest researching small shops then cold calling their HR department and pitching myself as a hungry smart yet inexperience college grad willing to do anything to learn the trade?
I know the ropes in a brokerage firm, how to prospect clients, go on meetings and then sell them various investment products but have no working experience in IB. Should I be upfront about that?
First talk to a judge or lawyer and see what you can do about your background. I know for sure banks are real sensitive about it. Just try to be relaxed, and don't sound over-confident. Be humble.
Call an IB firm (most bulge brackets will just hang up on you)
Hi I am xyz. I am a sohpomore at X. I am seeking an internship, and willing to work for free. Is there a time I could potentially meet you for an informational overview of your firm? About 70% will hang up on you.
About 30% willl then say - what do you want to do?
I was hoping to be an investment banking analyst intern (Please research the firm and know what kind of IB they do. If they do M&A state M&A). Also state why IB, and why now (typically they eat up I like to make deals with people and work in a fast paced environment). Be positive and upbeat. If they say no - ask if they would know anybody they can refer you to.
Also meet with your school academic career center, and take any internship you can get if you don't land in IB. I used to want to do IB too - but I really wasn't cut out for it, and obviously wouldn't stand a chance even if I tried. Think about other avenues other than IB. I strongly recommend checking out the merchant marine program as well. Keep all door open! Keep us posted, and good-luck!
Ponzi,
thanks for all the advice! I graduated from a state school in may of 2013, since then moved to NYC and got a internship a a retail brokerage firm. For the past 11 months I have been working there but its all commission based.
One of the reasons I am interested in IB is I interview all these kids as part of my client prospecting and I see a lot of 24/25 year olds making 70k base!
I am curious what path you ended up taking? What work have you found?
Just messaged you.
You need to get your record removed, or you have to explain it clearly to the potential employers.
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