Advice Needed/ Career Shift
Hello everyone,
I graduated from college 9 months ago and work as an investment advisor in wealth management. I was originally planning on going to law school but have since decided to shift gears and aim for a position in either PE or IB. I have heard that for those lacking a finance degree (such as myself) Masters or MBA is basically required. I am wondering which one you guys think would be more financially feasible and effective for someone in my position when it comes to securing a job. I am specifically aiming for analyst positions.
With no finance degree? Sorry with that English you aint gettin hired.
Wow this forum is so helpful.
Ignore this dude -- not sure why he's acting like a punk. If you need help with FT recruiting or lateral hiring, feel free to PM me. I went through the FT process and work with guys trying to make the transition as a lateral hire. Happy to help
I would try to lateral in. I think it might be too early for you to pursue a master's - should have at a minimum 2 years experience and preferably at least 3 to be competitive against your peers for jobs.
Working in wealth management is not directly related, but think there are definitely some parallels you can draw.
Key thing is to have a well crafted story / explanation for your path (ie would consider not mentioning the law path if possible).
Also, I know plenty of people who did not have finance degrees and did great in banking!
PS - if you have a sec, I'd really appreciate you checking out my new blog here. It is about my experience as a woman in the financial services industry. I think you might find some of the networking posts informative in your recruiting efforts!
Out of curiosity ViewFromMadisonAve, why do you recommend not mentioning my previous interest with law? Would it merely demonstrate lack of focus/direction?
Yes, that is what I am thinking. I think it is easier to explain the jump from wealth mgmt to IB / PE since it is all in the finance sphere. But if it is vital to your 'story,' it can probably be weaved in. I just think simpler stories are easier!
Hi,
Thanks for the response (and advice). I didn't know Masters usually looked for candidates with at least 2 years of experience, I always thought that was more for MBA. Also yeah when I have time I will check out your blog, thank you for sharing it with me.
Given your recent change of plans, perhaps working for another year or two might give you more time to consider your next step?
Obviously if you can break in as an analyst that would be great. In regards to MSF or MofM programs that is definitely an option but given that it's May and you haven't applied already, that would put you on track for a 2020 matriculation and 2021 graduation only to enter as an analyst. Many people enter those programs out of undergrad of minimal time in between. At that point (2021 graduation) it could be a better option to pursue an MBA in a few years instead.
Keep in mind you'll have to take the GMAT, etc. If you feel you have the time, go ahead and pursue that now because the score lasts for 5 years. Otherwise, like others have said here, you can attempt to network like crazy and fill in an analyst role that might become available.
Thanks for the response. Your comment about the MSF taking a year that could better be used to network makes sense, especially given the fact that I'll be 24/25 when I finish (age disadvantage). One question, even with networking, is it possible for a person with minimal undergrad experience (no finance degree) to secure a job like that? I feel at least some quant degree would be required even with networking, no?
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