Advice? 22 Year Old with Associates Degree
So I'm new WOS... Warning long post, but advice would be appreciated.
I am 22, I have my Associates Degree from a Junior College in Business Management, 3.3 / 4 GPA.
I always kind of went through the motions in high school and junior college till my last 2 semesters (ive finally turned it on academically and closed out junior college with a 4.0 both semesters).
I really wish I would have tried harder in high school and the beginning of college, I'm 22 and should have had my Associates 2 years ago if I went fulltime and didn't dick around.
I'm naturally pretty intelligent, always tested in the top 1% in Mathematics, received a 32 on my ACT score (i know alot of you guys do SATS) but 36 is the highest you can score.
Its not like I have been lazy in life while going through college, I took Junior College slowly because I make great money for 22, making over 100,000 as a Waiter in one of the top restaurants in Chicago.
I don't want to serve food forever, nor do I want to get into restaurant management (i already could have).
I've traded stocks since I was 18 (pretty solid increases although with an account only worth $7000 at the moment), been interested in the market since I was 16.
I feel kind of old to just be a junior in college this fall, is this going to hinder my career bigtime? I have to choose between Depaul and University of Illinois Chicago, I've been accepted into both finance programs.
I want to go to Depaul but its pretty much to late to get any scholarships, and my parents make to much money for grants or aid. It will be $30,000 a year in loans to go to Depaul (and I dont even know if I can secure the loans). I have great credit but they only want to loan me $9000 and want my parents to cover the rest.
UIC would be less than half the cost of tuition that it would cost to go to Depaul?
If I go to UIC and I have a great GPA and great gmat score can I get into a good MBA program?
Should I go for my MBA right away, or at all? I think I want to get into investment banking, or just learn how to trade and get into hedge funds.
I'm great at math and done well in the markets but I think my best attribute is my networking ability, I can talk to anyone. Plus I have great connections for a 22 year old because of the restaurant I work at, and a couple of the places I hangout at. I know and have gone out for drinks with multiple CEO's, top business executives, hedge fund traders, day traders, and know alot of Chicago's big politicians.
A couple of the hedge fund guys and day traders didn't go to college or at least didn't come out with a bachelors degree and they are making millions.
Another twist is that I just went through 4 interviews and was hired as a financial representative for a finance company. I got my health and life insurance licenses, im taking my series 6 next week, will take the series 63 after that, and then the Series 7 they are paying for all the licenses. They supposedly rarely ever hire representatives without bachelors degrees or experience with another firm but they said I interviewed very well. Of the other 4 representatives from my firm that were in my series 6 class they all had bachelors degrees and were older then myself (so maybe im not so old in the business after all, but I wish I would have got my bachelors by now).
I know a couple people that do very well on the sales side of it and I'm getting all my licenses but I don't really want to make it my longterm career. Im looking for something more prestigious I guess.
Also what are some different options for me in getting my finance degree? Of course there is trading and investment banking, but what else is out there?
Cliffs********* * 22
Associates in Business Management (3.3 GPA)
Accepted into UIC and Depaul for the fall semester but Depaul is almost $20,000 more a year (looking for opinions)?
Wondering if I can get into a a great MBA program with 2 very good years at UIC or Depaul (both decent schools but not in the top finance programs in the nation or anything) ??
Should I even go after an MBA?
Other notes I have a great job through college right now over 6 figures working at a top notch restaurants.
Just received a job as a financial representative (sales) where they are paying for me to get licensed with Health, Life, Series 6, 63, and 7.
Great Network know alot of CEO's, Politicians, Business Execs, Traders, and Hedge Fund guys (great stack of business cards on my dresser).
What should my plan be??? What are some options with my finance degree besides trading or investment banking?
A few of things:
1) You're not too old for school. I'm in my mid-20s and working on my degree. It only works against you if you let it (unless you're 30+ working on undergrad, that's a different story). You'll be graduating by 25, which shouldn't be a problem.
2) Work your network. See what their opinions are. Ask questions like, "If you were looking at a resume would it matter to you to see DePaul vs UIC?" and "Would going to UIC make a potential employer look at me much differently than DePaul?"
3) I don't know UIC and DePaul personally, but USNWR has DePaul only being like 20 places higher up than UIC, both in the 100+ category. I can't imagine the extra $20k would be worth it, but I could be wrong.
Best of luck man. Most people on these boards don't understand what it's like to work a "blue-collar" (yea, your job gets quotes, sucka) job. Use that to your advantage. By that, I mean you should know to be humble, be decent, etc.
Go to UIC or UIUC if you can. It's cheaper and you will probably "fit in" more.
Yeah I think its going to be UIC for me, the financing of Depaul is very tough.
Anybody have any opinions on my other questions?
I would go to UIC and cont to wait tables. Dont take job at some finance firm
You're definitely not too old. Personally I would go with the cheaper school to save money but I don't know how both schools are viewed in Chicagoland (may want to ask around and get your answer).
Agree with monty, save for the all-important Junior summer internship.
What do you guys think of getting the gig I just got in financial services, selling insurance, annuities, variable annuities/insurance, mutual funds.. etc? Should I still look for internships somewhere next summer or the summer after next or should I just go balls to the wall as a salesman?
hey bud. i actually go to depaul at the moment, am a senior with experience in the armed forces prior. i can tell u this much, both schools are great...but at the end of the day they are non target schools which have limited reach. however, considering the fact that you have the connections that you do, I would milk them and try to land a trading internship at the mercantile exchange, while knocking out your undergraduate degree... drop the waiting tables job and get some hands on experience.. its not the resume value of your first internship, its much rather your overall shift in thinking that should allow you to easily transition into your career. best of luck to ya, and if you decide to go the depaul route i can lead you in the right direction class wise and association wise. ~fight~
dont sell insurance and mutual funds, its a useless job. I would try to get into a brokerage and start trading, clearly you've had success in it personally so far. now u just need to polish up your professional skills with an internship in the trading industry.
Thanks for the advice guys, what is the best way to get into a brokerage and trade (even as an internship) with only an Associates degree in management?
Never too old sir. Never too old. And anyone who says otherwise you should disregard vehemently. You can do whatever you want to dude. You've got it going. 100k at a restaurant?!!! Well hell! Way to go! I had a little different situation: I decided I wanted to mess around and party and failed out of college, partied a little more, but wasn't making shit at my job anyway, then got my act together. Could I have partied and done well academically? Nope, not the way I was doing it. But the important thing is I pulled my head out of my butt eventually, got my associates by 23, and was re-admitted to the University I failed out of. Now I'm almost graduated and I'm 26. I've been an independent student since returning, responsible for every last penny, and I sure wasn't making 100k at a restaurant either. Never too late sir. Never too late. I'll go ahead and be cliche and say you can do whatever you set your mind to. But the truth is that it's true. You've got your shit together man. Whatever you choose to do, good luck.
Bumping this thread...
Since the thread started I am still at the restaurant, will be going to UIC. I also let the finance firm pay for all my licensing (life, health, series 6, 63, and they will sponsor me in getting a Series 7 as well). After that I think i want to get into the stock brokerage side of it and away from the insurance.
I think I'm in a decent position getting my 7 since guys in this thread recommended getting over to a brokerage. I read the catch 22 with getting into a brokerage is you need a Series 7 to get in, but you need to get in to get sponsored for a Series 7. So I'm already getting sponsored and hopefully that will open a few doors.
My question is now, does anyone know people on the Sales side that sell a huge variety of things. For example I'm thinking of getting my real estate broker license as well as maybe even taking over my Grandfathers tax book (he's 75 and ready to get out of it, really only works a month or two out of the year.. retired besides for that, and its a decent book).
My question is would it be impossible to juggle all that or could it possibly be lucrative (considering I have a huge network to tell me I can help them out with insurance, mutual funds, individual stocks, tax, or even help them in the real estate market)? My gut tells me it would be pretty hard to juggle all of that to near impossible, I was just wondering if anyone knew of anyone who does anything similar?
I absolutely love the numbers side of it, competitive, and I feel I have the gut to be a trader but I also feel my best trait is being a salesman, i'm great with people and a hell of a networker. Looking for advice on what you guys think I should do?
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