screwed up, cant find anything toward a career
Hi everyone, I just graduated in May 2010 from Tufts, got a degree in Quantitative Economics and a minor in Chinese. My GPA's pretty low, only 2.85, I'll be the first to admit I screwed up big time.
I'm trying to get a job that'll help build my experience, doesnt have to be in the finance industry, just want something that's analytical or consulting. Thing is I've been prowling job boards like monster, indeed, simplyhired but I'm not getting anything. I've gotten a few phone interviews, but that's about it.
As far as internships goes, I worked at a small financing company in the Philippines that specialized in subprime lending. I did mostly administrative assistant stuff, so that's what I put on my resume. However I do also include that I was able to sit in on interviews, compile and update reports, assemble a broker directory, and audit a subsidiary ledger of delinquent accounts.
Unfortunately, most of the job 'hits' I've had were for 100% commission positions selling insurance or the like.
I'm really interested in trading and investing, although my experience is only limited to my personal account, I don't know if this lends any weight to my resume at all.
I'm pretty good at excel, I know Vlookups, Hlookups, Pivot tables, macros and a bit of VBA. I'm currently studying "a fast-track to structured finance modeling, monitoring, and valuation: jump start vba" by Preinitz.
I just want something to help me get my career going, I don't mind an internship, paid or unpaid, although full time employment would be nice.
What are your guys' suggestions?
Sorry, long post, I wanted to put all the details.
Thanks for whatever tips you can give! -an aspiring monkey
Hmm... can you explain the 2.85? The average graduating GPA from Tufts is a 3.45, why was yours so low? I'd say take what you can get for the time being (you mentioned some success in insurance sector) do well and perhaps look for opportunities with smaller shops or think about trying to get into a MSF program.
Work a few years in something closely related to finance and then later your GPA won't be an issue. Or go to grad/b-school.
I would find a way to explain your low GPA. I, for example, I had a GPA similar to yours. I was also a Bar Manager working 50-60 hours a week while being a full time student. So whereas potential employers might view my GPA and be like "wtf?" they see that and understand. Some people have to work to pay for school and most people will understand that.
As far as a job, I don't know where you live, but I would look into roles at banks like credit analysts, possibly get into entry level PWM, or look at big insurance companies like new york life or something and see if you can get into some entry level finance position.
If none of that works, there is always account management to get some working experience.
I second GutShot. Look into MSF or MFE programs. Do well in grad school and it's almost like getting a 2nd chance.
Just curious, but what's wrong with a 100% commission insurance sales gig?
Expected value of 1st year earnings $10K commisions + ~10K financing Expected value (2nd year earnings | you made it to 2nd year) 25K Expected value (3rd year earnings | you made it to 3rd year) is about 40-50K
3-year retention rate 40%
Admittedly, those that make it past 3 years can do pretty decently.
The figures above are only for inexperienced agents.
Come to Asia. I'm guessing you're Asian with a minor in Chinese (most likely). Get an unpaid internship at a big company, preferably top tier. You already know people in Asia.
Beijing: Cost of living is low, so is the salary. Top PE shops, Goldman, ad agencies (Dentsu, Ogilvy, JWT), consultancies and auditors (Big 4), etc. etc.
Build experience, suck it up--and when you do well on the internship--bam you have a job. Try to transfer out, or get a job back in the states. Stick with the job for 1 year, get a masters in accounting. Your GPA is really low for MFE.
Don't do sales--but that I mean direct sales.
PM me about China/Singapore/HongKong. One of my best friends is a Tufts graduate.
-- you are near Boston, so look at:
-Wellington -State Street -Temp positions at JPMorgan Accounting
You're looking at fund accountant. My friend did this, then moved to a sell side equity research shop.
PM me; I'm native Boston.
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