Startup Credentials in IBD/College
Read this, and please tell me if I should mention these expierences when interviewing for IBD internship opportunities and college applications:
Well, to state it simply, in highschool I toyed around quite a bit in startups. I started a small clothing company in middle school and ended up selling it for a pity few thousand in highschool because I made the mistake of starting it with incompetent friends who dried up funds faster then saharian rain, (but I did network a presence for myself and learn business technicalities). Then I used that money to start a web design firm micro-managing licenses to works and selling those works to small business' who where being gauged for 10's of thousands by the bigger agencies, only doing spots of HTML5 editing (think foreman/final product culmination). I finally got tired and decided I wasn't learning anything so I took all the money I earned thus far and started a Product Design firm, and when I tried designing my first "invention", all my hard earned years in the making money quickly disappeared and I didn't have enough to stagger on. I went only $500 in debt (which I paid off, but mind you I was a highschool student without a job so I got a nice tan mowing lawns).
Now, I am still in highschool, I am in the middle of my 4th startup and I'm in a situation where this company can become incredibly lucrative this year, but nothing is set in stone yet, just papers exchanging hands so I don't want to jinx it.
I also am starting to build a 200" wingspan UAV (basic video relay, and found open-source systems for autonomous flying, don't worry no missiles or the like) slowly but surely, for hobby.
Here and there I really enjoy listening to all the open courseware being put out on Finance and such in iTunesU (Yale, Harvard, Liberty Online, Saylors) and MIT alongside studying the old 2009 hardcover Seacor Holdings Annual Report and what not to view kind of how financial information is put together.
ONE PROBLEM:
I really need this one addressed by you guys, but this year I do have a 3.9GPA with senior level AP classes in finance related fields and honors as a sophmore --BUT-- last year as a freshmen I really dicked around and ended up with a 2.95. Obviously there is a sharp, and stark difference between the two. But, this really will weigh down my 4-year overall GPA. Will colleges see that and dismiss me, or will they look past it? Is there anyway to recover GPA from a past year or just remove it completely from your average? I have also been told my hopping around from "business" to "business" shows that I have no commitment, but that has also been countered with it's a defining feature and won't be viewed that way since I'm not technically an adult with a new napkin idea every week. I have completed objectives and goals in each business before moving to the next.
I'm shooting for Wharton as my business school of choice, I'm still figuring out the correct major combo, but I know i'll be double majoring, I want to work hard to get into Investment Banking.
(EDIT: I also trade on live stock simulators, similar to that used in a day trading training program for new employees. I'm currently up $3.2M, it's meaningless, but it's worth noting I think. I also volunteer for Open Office.)
BY THE WAY, I really appreciate all the knowledge you guys put on here, it's incredible to get to peek into the more personal side of a field and be able to read and learn from things you people have gone through. Still trying to learn bits of jargon though.
If anyone can offer a short Q&A over PM I'd also really like to do that to learn more. I've talked around with people in banking but they either lose patience with my basic knowledge or say to slow down and not look too far ahead.
I read this whole thing (way too long btw), and I don't understand why you'd want to be an investment banker. It's the furthest possible thing from entrepreneurship.
And yes, you should. Why the fuck wouldn't you?
And this is not CollegeConfidential.
I just discovered CollegeConfidential, thanks guys! Didn't know it existed until now. I'm sorry about the long read, I just want to give the full picture.
Well, entrepreneurship is risky and I'm not sure I could strike it out on my own just like that. I much rather get into a position in Finance/Business related field (i.e Investment Banking) so I can build credibility and stability in an intriguing field, meet educated people, and if the time comes, use that technical financial knowledge and discipline to ease into entrepreanurship if things sour. But I do plan to stay under a corporate name for quite some time after college.
I'm learning all I can about Investment Banking in my spare time, I don't think I would really fit into any other field, with maybe the exception of Marketing, but it seems any Joe Blow could go into Marketing, and it's a capped job.
Damn it. Meant to ms you but my fat fingers pressed sb.
Wow, a little bit hostile there. BUT, I would like to argue that Banking is more versatile pacing up from quantitative work to managing/creating deal flow which come onto you as responsibilites at different levels of banking, each level requiring different skillsets (hence the versatility). Sure, I guess there are going to be industry/product groups that resemble more of a marketing team, but I don't think banking in a sense is as parallel to marketing.
I don't want to come off as some guy with an attitude, and I am sorry if that is how this was interpreted. I'm just here to learn.
I agree with everything triplectz said.
Learn what investment banking is and what you do as an analyst before you say you definitely want to do it. If you want to be an entrepreneur, there might be better opportunities.
If you want to do IB, your main goal should be to get the grades/SAT/etc to get into the best college you possibly can. Worry about IB vs S&T vs Consulting, etc later.
If I remember correctly, I think Princeton (or some other top Ivy) doesn't even factor in your freshman high school grades. Either way, getting straight A's in the hardest classes your high school has to offer from here on out will help you get into a good college. It's possible to bounce back from your freshman year for admissions, especially with the entrepreneurship hook. Even if the freshman year hurts you (and if you push really hard during high school to make yourself as attractive to colleges as possible), you can still get into a good college and even if you don't, you can transfer to a better college if you get straight A's wherever you initially land (although I do NOT recommend this last bit as a plan A). Even then, people network into IB from some of the least prestigious colleges in America (again, while possible, it is EXTREMELY difficult and you should do everything in your power to get into a target college if you want to do IB). In short, you have a lot of power at your age to shape your future.
I also agree that you should check College Confidential. You'll get better answers.
you don't need a college degree to become an entrepreneur
My advice: whether you want to become an entrepreneur or banker or something else, you need to learn how to write (and speak) clearly and succinctly. People don't have time to wade through verbal diarrhea to try to figure out if you're asking a question or making a statement.
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