Finance jobs for the Average Joe
Hello all,
I'm a junior at a non-target (3.8-3.9) struggling to find any internships. I've applied to F500, BO/MO/FO (from big banks to small regional ones), advisory at accounting firms, and have gotten some first rounds but rarely get beyond that and have had no offers. I basically have realized that I'm applying to positions that are too competitive. I don't want to be jobless. What are some divisions/roles that are less competitive, something that the average Joe could get a job in?
Thank you for reading.
Thank you for your response!
1. SEC
2. Most of the interviews I had a very strong conversation. With hirevues you don't get immediate feedback, but I felt that my answers were strong. There were a few interviews where I had tough behaviorals that threw me a curveball but every time after I reflect and prepare better responses in case I get it again.
4. Thank you for your suggestion. I will look into it and get back to you.
If you're at an SEC, focus very heavily on South. I know Stephens is done, but there are many small boutiques in the south that aren't mentioned on this site. Maybe look at Pub Fin, it's a good transition to DCM if you want that, or you could stay in pub fin and work moderate hours and have a strong income in low COL (and fun) areas. Pub fin will occur in any city with moderate population (think cities like NO, ATL, Memphis/Nashville, Dallas/HTX, Birmingham, Charlotte, Tampa). There is absolutely no shame in working at a 10 person bank that focuses on pub fin. You'll get a chance to meet state politicians and work on a variety of projects that will be dependent somewhat on where you live.
I'm a 3.5 GPA at a semi-target. I thought like you for a little while - I had internships in DCM and ER but was really shooting for M&A. At one point, I had basically given up. I spent time interviewing at F500 and was thinking of MO rolls to flip into IB post-MBA. It's all a numbers game. I probably submitted 200+ applications to various finance rolls. I had a few suuperdays and many first/2nd rounds. Only got 1 offer in, you guessed it, M&A like I wanted. Times are as tough as ever but if you have a good GPA you will get your foot in the door (I did with my 3.5). After that, it comes down to networking, interviewing, experience, and unfortunately luck. Hedge your bets and spend 1-2 hours a day networking and applying to various rolls. But don't take your eyes off the prize.
The problem is I haven't had any structured internships like AM/ER. In a pretty hopeless situation.
I don't mean to get off topic but how are you a rising junior in November? Does your school have a weird calendar?
Thanks for the catch. Honestly it still feels like summer because I've been at home the whole time.
There will be TONS of F500 corp fin, Business Analyst, Digital Marketing, Regional Bank, CRE, etc that recruit over the winter and into the spring for summer following junior yr. It's quite common. BBs/Major banks and consulting firms may be done (although many of them will still have new spots to fill) but they are just WAY ahead of everyone else.
Don't know if your school uses Handshake. If so, be on it EVERY DAY looking at all relevant opportunities. Also, expand your search geographically. It's just a summer and you may like being in Dallas or Chicago or Nashville, etc.
Someone upstream made a GREAT point. Spend an hour or two EVERY DAY working on this. Consider networking, applying, writing cover letters, tweaking resume, as your job until you have one. Don't stop pushing. You WILL land something.
I've been applying and just been getting slammed with rejection letters. A couple first rounds (with extremely strong convos) that end up nowhere. I've applied to any big city and any role you can think of. My one issue is that I can't drive (low vision) which does limit me applying to a rural area, but typically is not an issue in the bigger cities. And I've been averaging 1 -2 hours a day at least for about 9 months now so roughly 350 -450 hours minimum without any luck.
Keep going, may not get what you want, but you'll get something. You can leverage whatever it is you get next year or get in post mba or however it all shakes out in the end. Felt very similar to you a couple months back, but put my head down and kept calling people up, managed to get a little something and the summer is looking good as well so far. Keep going!
Also like someone above said, network everyday, at least for an hour or two. You'll see traction soon enough.
I've been trying. It's difficult to remain positive. I've often have thoughts of just quitting and living near a homeless shelter in a tent or something.
Don’t think about yourself that way, I know it might be tough. It’s the little things that can fuck you over too. Don’t say your average, don’t think about yourself in some tent, next to a homeless shelter. Try and actively maintain a more positive outlook on your life. I always suggest keeping a journal and writing down your thoughts - if you’re the only reading it, you can be super honest with the things you write and make little catches in what you write down that really expose how you feel and then you can work on improving those things.
Anyway, just a suggestion. To your point about how you keep being rejected. I can’t help you get a job in the field that you want, would you be open to looking at something like real estate (not that I can help you there either)? I’m sure you can get an internship for a brokerage in your area. RE can pigeon hole you a bit and maybe it won’t be relevant to what you actually want, but it still pays well and I personally find it a lot of fun. You can leverage this experience into either an analyst role at a brokerage, repe shop or dev shop. Who knows, maybe you’ll like it too. I’m just a junior at non target, and far more average than you in terms of gpa lol, still, feel free to pm me anytime if you want to just talk, vent about shit, whatever.
Probably all things that you know but I would just say stay motivated and try to secure anything in the realm of finance even if not at a bank. I know a guy that interned in the finance department of a textiles company (not F500) after junior year and ended up landing a FT role at a top 5 bank (credit), so you are definitely not screwed. Good luck.
How to stay motivated?
Fellow SEC prospect with slightly lower GPA who’s gotten a boutique summer offer in the south. It’s all a numbers game. As a rising junior you have plenty of time to keep chipping away at that stone and polish your resume, story, etc. All it takes is one firm to give you a chance.
Unfortunately, I'm a junior not a rising junior.. I don't think the "numbers" thing applies to me unfortunately. I have been rejected from any position you can think of for the past 3 years.
I’m a current junior. Feel free to PM if you’d like to talk.
I would just focus on any industry you have any interest in and seek anything relevant. Don't give up. Network like crazy.
Realistically, if you have a 3.8-3.9 GPA - you're going to find something - its all a numbers game. Spend as much time as possible applying and networking. You're bound to find something. If you can't find anything among the listed internships, go for unlisted internships. Start emailing CEOs of small companies and offer to help out in the summer. Market yourself, make sure your resume is sharp, dress well for the interview and you'll get it eventually.
Also, it is very time consuming to write a cover letter for opportunities. You don't have to write one for every opportunity as for most of the online applications, you'll never be getting through. But, if you find an email of an MD or CEO and think you could do well at the firm, go balls to the wall on writing the best cover letter about how you can be an asset to the team and your desire to be in that industry and gain experience; you might get some traction. As far as the execution of this - I think the best way is to write the cover letter in word and print it to a PDF and then attach it in the email you send to them. You want to come across as polished as possible. Convey your interest in the email and note that you have attached a cover letter describing how much of an asset you can be to the team. Remember, always be closing (ABC), so in the email, inquire as to when you can meet or setup a call.
Good luck.
Normally I don't even do a cover letter, as I thought it doesn't matter. I've gotten very good first rounds (FO NYC) without a cover letter and didn't network (although some did come through networking) so I think only the resume matters.
Yeah I've gotten jobs without one. It depends on the situation.
try Tax at the accounting firms...they take anybody
Are you sure? The ones I've looked into require at minimum a bachelors in accounting, but preferably a masters of Tax in accounting.
you can get that later..doesn't matter
You should post a redacted resume.
Find it tough with a 3.9 GPA in a relevant (assuming econ / finance / business) major you're not getting past 1st rounds.
If I was diagnosing this for a family member or friend I'd start with resume itself since GPA is fantastic. If resume looks good then perhaps you just need to become more polished with communicating / interviewing.
Maybe also tell us the types of jobs you're applying for? Just about ANYTHING outside IBD / AWM / ER / PE should be fair game for you (basically almost anything at every F500).
Can I PM you the redacted resume? Even with redacting stuff, there are still things that could compromise my identity if I post it freely on here.
And to answer your second question I have applied to everything you can think of. F500/BO/MO/FO/RE/Insurance/Energy/Accounting Firms in a wide variety of roles.
Feel free to send over and I'll take a look - though I will caveat I'm definitely not an expert.
Won't be able to fine tune and take it from great to fantastic but will be able to point out if it's mediocre and suggest changes to bring it up to par.
If it's something I don't think I can help with, I'll try to suggest redactions to get you to a point where you're comfortable posting on WSO.
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