graduated may 2019 and recently laid off first job
Hi guys,
I graduated last year (May 2019) with my masters and bachelors (I was able to get them at the same time at my school/program) in finance from Northeastern University and am now 23 years old (going to be 24 soon). After, I got a full-time offer at a fintech firm working in project management, and was about to move to the valuations team; however, we recently had a huge layoff at our company and unfortunately I was a part of that group.
I'm wondering what my next steps should be. I know that the economic climate is not great, but I'm just sitting at home super anxious all day. I'm going to be moving back home with my parents soon (in New Jersey) since I don't have a job anymore and can't afford rent where I'm living now without work.
My long-time goal is to get into high finance. I was a lazy kid in college but managed to get into a masters program that I could get along with my bachelors at the same time (only ended up with a 3.34 GPA). I did this because I had no finance knowledge at the time (mostly marketing and accounting background) and knew that I would have to do something in order to catch up, at least in terms of technical knowledge. Now, I've passed the CFA and got about 1 years of work experience at a large FinTech firm, but it just still seems hopeless.
My goal before I was laid off was to: do well at my job at my FinTech firm, study for the GMAT, try to get into a T15 MBA program and break into IB or management consulting from there.
My question is two fold:
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now that I don't have a job anymore, I'm back where I was this time last year- feeling anxious and unsure how to break into finance because I decided on finance too late and did not have any IB, ER, or related internship. I am now applying to every finance position I can think of, credit analyst, investment analyst, FP&A, etc. I'm also networking with investment banks and grinding that for hours every day. Given that my original goal was to break into IB after MBA, do you think it's even possible for me to try to network into IB right now? Or should I just try to find any finance-related job and do well there and continue with my MBA plans?
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am I too scattered when I say my ultimate goal is "high finance"? I am looking for any job like credit research, corporate banking analyst, equity research, entry level investment analyst roles, FP&A, etc. or is it OK given that I don't have a job right now and I 100% know that I want to do finance as a career. I have a networking spreadsheet where I'm listing everyone that I can find that is doing something high-finance related and trying to break in entry-level there. I know that if I can get transaction experience that I will have much more opportunity in the future with anything high-finance related, that's why I haven't been picky as to what type of finance I am in.
Basically, my second question is what type of roles should I be looking at? Should I first decide exactly which part of finance I want to be in first? ER, credit, IB, consulting, etc. Or should I only be expecting back-office (accounting and operations) and middle-office and accounting type roles for now?
I'm open to any and all advice/criticism.
Thanks!
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