In theory you never broke in, what are you now?
In theory you failed all of your interviews and never landed the FT position you have today, Where are you now?
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You dream your an analyst. You dream you go to B-school You dream your an associate. You dream your an VP. You dream you become a MD or Partner. But what if it all never go as plan and you ended up getting fired or not securing a offer.
You dream of getting to wall street, but haven't mastered "your vs you're" yet, or the usage of "if". Also, haven't mastered a dictionary to know what it is to theorize.
Sad story.
Are you really that lonely that you force yourself to bait people into arguments on the internet? Is corporate finance really taking a toll on you? If so you can always PM me to talk about your issues.
I don't have to give you theory because I actually did fail at one of your steps.
I went to a mediocre but expensive undergrad where banking was completely foreign except to the rich and/or very driven kids who've known what IB was since their days of summer camp and capri sun. I was a middling student with enough APs and sense to get an IT (not computer science) degree and got a job at a large consulting firm making ok money at a time when most of my friends and most college graduates were moving into their childhood rooms or working bar shifts and sending out resumes every day to get a real job. I don't consider this the point at which I failed.
After about 4 years and steady promotions in my field, I stumbled upon this website and found out what IB was. I realized it was one of the only career paths which offered significantly better earning potential than mine. I also realized that with my mediocre pedigree I would need stellar GMAT scores to get into any school that would have OCR and give me a good shot at breaking in. I took the Kaplan course, and half-assed my studies. My GMAT scores displayed that half-assed effort. That's where I would say I failed.
A few weeks after I fucked up the GMAT, I got an offer to move across the country and start something new at a fairly prestigious firm (not MBB but yes I'm in consulting) and I've been there since. I get ownership over my career, I have people that look to me for direction not on a project level but on an entire firm level, and the money is pretty good. I don't make IB/PE/HF money but failing on that path led me to a very good place.
This comment might be misplaced but I do want it to serve as a reminder to everyone who has "failed" at the prescriptive HYPS->GS->KKR->HBS/GSB career path that there's still hope.
the same person I am now....
I'd be a janitor who roams the hallways of MIT after hours solving complex mathematics.
+1 to you for that reference. One of my favorite movies ever.
Plan B coming out of undergrad was an offer I had in hand for Citi Ops. Would have probably gone to b-school sooner for another roll of the dice because I would have been bored to tears with the work. However else I may have ended up, I can't say.
I have noticed that when I'm in a position I don't like I kick my efforts to advance into overdrive (i.e. consuming more information, personal development, making connections, etc.). If life is good, I will admit I can slip into complacency, which is something I need to work on.
Exactly. I do this as well. When I thought I was 'behind' I consumed every piece of finance information I could. Networked hard af. Watched valuation videos. The works. When I'm where I want to be at, I slip into complacency. I found that when I set weekly, monthly, quarterly, and yearly goals for myself just above my current abilities I'm much more motivated and satisfied.
Plan B for me was doing market research at a CRE Data firm and turned that down for the place I'm at now. Overall I've been pretty unhappy with my company the past few years and wish I had taken the other job, or atleast should have kept looking. At this point I would definitely still be in commercial real estate, but probably would have found my way to a little better firm by now.
Physician
Probably at some corporation or regional bank in their finance department. To a certain degree, life is about being happy with what you have.
I'd run a Communist-themed restaurant called "Fidel's" and cook Cuban food all day. I'd dress up as an MD every Halloween.
I'd live in a van down by the river.
I'd have ended up in CRE brokerage, or maybe underwriting for a regional bank, which are still solid gigs but I wouldn't have liked it as much.
A hunting and fly fishing guide in Montana/Wyoming.
Hollywood screenwriter, rather than a cranky quanty WSO troll driving around in a clunky used ford fusion (which replaced a rusty honda).
%& why did I have to get an offer from Lehman Brothers? I could be in a beachfront mansion in Malibu right now looking out at the Pacific Ocean typing up another movie script.
What's stopping you?
I always said I'd focus on building up savings first and doing what I loved later. I don't think that's a bad approach, but if the rug gets pulled out from under you, sometimes being forced to do what you love is very healthy. That said, what I love today is different from what I loved at 20 (computer games).
TBH I'm much closer to my dream job right now if I stay a quant a few more years. (doing aerobatics at airshows, discovering new shipwrecks in Lake Michigan)
My honest to goodness career advice is to do your job during the week. Do what you love on the weekends. Last weekend I was at 150 feet on one of the best preserved shipwrecks on the lake (due to depth it probably gets about 15-20 divers to visit it each year). This week I'm back at work, earning the money to pay for the fun I'll be having this upcoming weekend.
Have fun, guys.
Probably end up working slightly less hours, with a slightly smaller house, in a slightly worse location, and drive a slightly inferior car and take slightly cheaper vacations and drink slightly cheaper wine and wear slightly cheaper clothes.
In order words (spoiler alert) the world would not end. Gasp!
Still trying to break in?
sometimes i ponder about this as well. i wouldn't even know where to start if i told you everything i did to try to even get an SA position - FT is a completely different story. However, something tells me that things would've worked out just fine...right?
corp fin position with a banker's work ethic to move up, or law school
(I'm still an intern so hopefully I get that FT role)
.
I'm interning my last summer now, graduate in December. If I don't get into energy within a year I'm probably going to re-enlist in the Army.
If I never broke into IB? I'd probably be working in Consulting
AndyLouis can you please remove the MS in this thread or please delete it I am constantly getting MS barraged ever since Isiah called out the sentence I wrote on purpose the mob mentality is ruining my banana count.
They're fake internet points, financekid02
Probably happy
Probably an assistant high school lacrosse coach at a top prep school with a full time job doing something I resent because I never put forth the effort I should have many years ago and am now suffering for it by not achieving my dreams
Cocaine Cowboy
Back to the military. Or veterinarian. I have a lot of identity issues.
Getting into Ibanking - Never able to get a foot in the door (Originally Posted: 09/28/2007)
Hi, I have always tried to get into the IB industry, but was never able to get a foot in the door. I've had jobs that are in the investment field however nothing of what i really wanted. I graduated in business management with a 3.7 gpa, worked as an assistant investment advisor for a year and at an top accounting firm for 2 yrs. Is there any way that i can land a position at any of the IB firms as an entry level/analyst position? What are some of your recommendations as to giving myself the best opportunity possible to achieve my goals? I guess what im asking is, what is the best way to get interviews with some IB firms even though there are people with more experience than me? Thanks, J
At this point, 3 years work experience... you are considered an experienced candidate. I would consider an MBA. At a top school of course
An MBA would probably be your best bet. It wouldn't guarantee you a position, but it would be a significant boost to your current situation (depending on the school).
Some of it could depend on your use of the word "top" for accounting firm. Most people see it as Big 4 and then the rest. Accountants or others who are familiar in the industry usually see it as Big 4, 3-5 other ok national practices, then the rest. If you have Big 4 experience, you can probably get in somewhere (althought not necessarily BB) that's what I did. If your experience is somewhere else it may be a little tougher unless you know someone. However, from what I've seen there are boutiques that really like accountants.
It's a complete pain in the ass and generally worthless in IB, but getting your CPA could help get your foot in the door somewhere.
I would agree that a top flight MBA would ensure you access into banking as an associate. You already have enough work experience, a solid GPA, and depending on your GMAT score/extra-curricular/leadership/essays you should be able to matriculate in 08' or 09'.
Why would anyone with work experience want to regress and be an analyst for 2 years. My advice to you is skip the analyst stint; our bannker analysts sound miserable on a regular basis when I speak with them.
Thank you all for your input. to answer some of the questions.... i worked at RSM richter, which is not considered the big four, but in north america... it is considered to be between 5-8. WIth my work experience.... i wouldnt mind working as an analyst at a boutique or something smaller. I just really want to gain the experience starting from the bottom up. I know it might sound ridiculous that i want to be an analyst, but i truly believe that it is the best way for me to get started.. rather than getting my MBA and then starting at an associate position. I dont know, i could be wrong, but personally, i like to start from the very beginning and move my way up.
Have your considered Big 4 TAS Valuation groups?
If I can't land a IB related gig this summer should I settle for... (Originally Posted: 10/25/2012)
I am currently a second year student at UT Austin and I have applied to a few small boutiques and shops in the Austin area. I have interviews with some but nothing is guaranteed of course. Just in case things don't go well, would it look suspicious or just plain weird to a recruiter next year when the big banks recruit on campus if I did PWM or some other financial intern/analyst gig over the summer for corporate finance or a startup of some sort?
No. Despite what most people on this site believe, having FO experience is not a pre-requisite to summer analyst positions after junior year. Just do something interesting and don't be a dunce and you'll be fine assuming stats and networking efforts are there.
Definitely not. As a sophomore you will be well ahead of the game with any actual internship. You would be surprised, you are overestimating your competition.
Not weird but try and get an internship doing something finance related at a F500. I think PWM is extremely overrated.
don't do PWM unless its GS/JPM/MS.
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