So let me introduce myself a little bit, I've been reading this site for a little while and decided to finally get involved. I'm currently a senior at a smaller private school in the midwest, and graduating in the spring. I am where I am because I originally came to school to be an engineer, and then decided I hated it. I didn't want to spend the rest of my life doing differential equations and highly advanced calculus and spending time around other engineers. Not what I wanted.
I started to become interested in economics and banking my senior year of high school, when all the shit was hitting the fan. I was in AP econ, and realized I loved talking about money and the economy and all the equations and charts and graphs and theoretical shit was actually interesting to me. Took the AP test, more or less aced it. Got a 31 on my ACT. Would have done better but I was not good at the math section, didn't come close to finishing it. Reading, writing, everything else, almost perfect. Wish I would have gotten the extra hour of sleep the night before. Oh well. My family has never been what you might call well-off, so my goals of going to a prestigious private school was reigned in quite a bit. I ended up at Valparaiso University, mostly due to the massive amount of financial aid they were giving me, the fact that they had a great engineering school, and (according to graduates) the business school was pretty good too.
3 and half years later, I'm almost done, have one semester left, and I'm starting to wonder where to go next. My GPA will not end up being amazing, there has been a couple hard, extremely poorly taught math classes that ruined it. Could have been almost a 4.0 if not for them, but will probably end up with a 3.6-3.7. Now, I never had any advice on banking from, well, anyone really up to this point. It is all self-taught. In fact even being a finance major at my school, I must say that everything I've learned about finance to this point has been self taught and completely on my own. My family has been less than impressed with my desire to go into banking, not that I could really care less but it does mean that I am on my own with this. I have no real connections in the industry, and almost no one from my school has gone into banking in any way. I'm somewhat land-locked. I have a strong interest in law as well, and my ultimate goal is to do a JD MBA program, and go from there. But my real, first love is still banking. I love numbers, I love money, and I don't mind working 24 hours a day if it's something I like doing. But I'm worried that I don't have a chance. No one has heard (or wants to hear) of my school in banking. Due to my lack of connections in the banking industry, by the time I graduate my only internship experience will have been working with my father as a financial advisor working with TransAmerica. Not exactly related to banking, in any sense. I've tried to reach out to some people I've met that might know someone somewhere, but none of them really have. I don't have a lot of help. So I've decided that what I need to do is just go at it cold. Try to contact as many people in as many firms as I possibly can, and hope for the best. I want an internship, and I want to get my feet wet. But I'm not sure if that will cut it.
So after all that, my question is this. Has anyone here come into the industry like this, with no connections, no prestige attached to their name, their education, or their work experience, and been successful? I know that is kind of a had question to answer but I believe that anything is possible, if you want it bad enough, to a point. I just hope I haven't hit that point yet. Thanks for any advice.
Don't go into law. Even if you get into a T-14 school, which you probably will, and get a BigLaw job, you will be in debt up to your ears.
If you really want to do banking, I would get an MSF at Vanderbilt (or comparable program) if I were you.
Sweet pic bro
^^My first thought
Second thought is that you will only have a chance through networking and doing a couple trips to NYC. Read mergers and inquisitions guides. Set up info meetings with MM and Boutique shops and do a couple trips to the city.
you cute bro
hahah I need to buy some SBs or something
make sure you keep your head up for WSO Networking Month...coming to your inbox next Tuesday (and anyone else that is subscribed to the newsletters)...
Pic sucks...it's a couple years old haha. Not photogenic, I love taking pictures, hate being in them. I somehow don't have many pics of myself wearing something decent, but whatever. I've learned that looking good is half of anything....so there's that.
Networking is hard, as I don't have the means (or ability at the moment) to make trips to NYC, but I do plan on trying to do that. I guess my biggest question is, can reaching out directly to some whoever I can get in contact with at any firms (MDs, etc.) do any good? We've all heard the story of the guy who as a last resort goes and emails someone, gets a response, gets an interview, and is hired because he's great at interviews. I'm great at interviews. I love talking to people. I'm sharp, attentive, and love being in a one-on-one situation with someone when I have something to gain. I know I can do that. But I need to get to the interview. That's where I'm at. I know that networking is important, I simply don't have the chance to do it here in NW Indiana, the shithole of the midwest. As I said before, the idea of going into banking is barely even discussed by anyone in the business school here. Chalk it up to the influence of "management"...As a finance major I have to take about 6-7 "management" classes. It's a joke. I'm severely limited in my ability to get to know anyone in the finance world, much less on the Street. So due to my limited resources, I really need to find a way to reach out from where I'm at. As far as going to big law...I've been cautioned against it many times. If worse comes to worse, I wouldn't mind. I'm great at reading, writing, and making arguments. If I had to do it, I would no problem. But I'd rather be a banker. And I don't want to give up just because of circumstantial factors. I could do it. But I need the chance. So I need to find a way to get one.
How good is your math honestly? You bombed the ACT, didn't do well in college classes, but are now saying you love numbers?
Aren't you like an hour from Chicago? Why not start hitting up some people there?
Hardly bombed math. I did poorly in Calculus and a high level stats class because both were poorly taught. I had to basically teach myself. Cs in both cases. I really don't think I'll need advanced calc theory to get by in banking. I'm not too worried about that. The stats class is more relevant, but I can also look at the grades that the other 30-40+ students in this class got and come to a fairly sound conclusion. Basically, the prof is barely able to speak english, gives tests on material before he covers it, doesn't really explain anything in class, and then expects us to do massive ANOVA problems, nonparametric test problems, and other large stats setups by hand. And because of this I attained a C. I can use Excel, but this class did not focus on this at all. So....I'm not bad at math, hardly bombed math. Did well in other stats classes and math classes. So unfortunately, yes I did less than well in two extremely poorly taught classes. But that's about it.
Chicago is an option, and I'm starting to do my research in the area. But again...I neither have the time (or the money) to drive back and forth from Chicago at this current point in time. I do plan on doing some more as I can, although between work, school, and my other involvement here at school it is difficult. The problem is, recruiting of any kind does not really happen here, the biggest chance we get is once a year Northwestern Mutual comes down to the "career fair" to suck up some more suckers every year. So it will require some reaching out on my part.
You've got more excuses than a pregnant nun.
How so? Simply stating facts, also, trying to learn here. I came here to ask how I should go about getting my foot in the door given my situation. It's not ideal, for sure. But everything I've said have been facts. I've spent time trying to figure out which way to go, and I've only recently discovered this site, obviously a tremendous resource. I plan on contacting recruiting offices in as many closer firms as I can, and starting that way.
Stop making excuses for yourself. Own up to it - you're not good at math. If you were good at math you'd have easily finished the math section of the ACT within the time limit.
Network with people you find from your school - from a 5 second search on LinkedIn your school seems to have a lot of people at JP Morgan, including some within banking. Reach out to them and ask about how you can best place yourself for an opportunity.
you should change your pic...
and like BTbanker said, wayyy too many excuses
Thanks.....
Thanks for the advice. I really do appreciate it.
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