Advice on salvaging a wasted a year after graduation...
Hey guys, I'm severely stressed because of my situation, and wondering if anyone had any suggestions. I've summarized my story since graduation so far, it's kind of long :/
So, I graduated from Babson College with a BSc in Business Management (concentration in Finance and Economics) with a GPA of 3.03 in May 2012. I made the mistake of taking it easy for a few months thinking that I would get a job quite easily. After applying to countless positions and a few interviews, nothing panned out, despite being led on by a company I was interested in. I kept this pattern on for several months (while doing some research and editing work for my father to get some cash)
Now it's December 2012 already, I haven't started freaking out for some reason, and my father says I have to get an MBA, so I said yes this seems reasonable and he went ahead and bought me some books to begin reading and practicing for the GMAT. I register for the exam for February 9th, as I figure I can take it again by March 10th if I needed to in time for several round 3 applications. Now the exam is delayed because of the storm closing down centers and the next available date is a few weeks from now. This is what I get for being reactive instead of proactive.
During my study I find out that virtually no one gets into a good MBA program without work experience, unless you have a GPA that's significantly better than mine and impressive test scores and other factors (and is even more difficult in round 3). This is incredibly demotivating, and now I really only have one shot at the GMAT. So far my average scores on practice tests have been around 650, I hope to improve that within a few weeks. My strength is in mathematics, so I have looked into options of MS Finance possibly, but they are also extremely competitive.
I was just wondering at this point in my life what can I do, at least career wise. It seems unlikely that I will get into a top 30 business school for an MBA, seems like no one will hire me, what options do I have? What other careers should I be applying to with my degree/grades? I really hate rotting away at my parents home, essentially a being a bum. If I simply cannot get any opportunity, what should I do with my spare time?
Thank you, I hope I posted this in the right section. Please tell me if you need any more information.
Experience, experience, experience. Continue networking to get an internship. Talk to UFOinsider or at least read his epic posts about unpaid internship.
First of all, do NOT get a MBA straight out of undergrad. Very few firms will hire a MBA with no experience unless you're a prodigy or have serious connections. You are also correct that you will not get into a top 20 MBA program with your stats. Keep in mind that the top programs want candidates with 720+ GMAT scores and 3-5 years of solid experience. Even if you had those stats, it would still be highly competitive to get in.
As far as what to do now, I would see if Babson's career office could help you out. Since you're a relatively recent graduate, they might allow you to interview for on campus positions. You should definitely reach out to alumni at smaller investment banks where they are more likely to give you the time of day. I would also greatly expand the industries that you're willing to work for, i.e. look for corporate finance roles.
Whatever you do, you need to move aggressively. The longer you stayed unemployed the harder it will be to get any type of "real" job. It may not be fair, but people will starting assuming you are damaged goods if the see you've been unemployed for a year or longer. It's very hard to shake that label and it can permanently damage your career prospects. Be proactive and start reaching out to people. Stop listening to your dad too.
Edit to add: at the very least start volunteering somewhere. It will get you out of the house and show people that you aren't lazy. You could also spin a story that you wanted to work in the nonprofit sector for awhile.
Was in a similar position to you a while back.
First off, you need to do a Master's in Finance. With that GPA, no amount of networking (unless you've got some incredible skills elsewhere) will get you a job. What are your past internships/work experience like? Is your resume polished--i.e. no types and in M&I format? While you study for the GMAT, you should also look for internships with boutique firms. Cold email every shop you can (if you search boutique banks on WSO there's a big list). And scour LinkedIn for contacts--put every contact you have into a spreadsheet and start emailing away. You're going to want those connections come Fall.
If you do well on the GMAT, you can get into a decent MSF. Once you've been admitted, you can join the relevant alumni groups and basically have more contacts in the industry. At that point, it's up to you to make use of the new alumni network at your disposal--email, schedule phone interviews, do in-persons if you can, make trips to NY or whatever city near you--if you hustle, you can make it work. Feel free to PM me if you need more advice.
get MFin or MFE if you don't want to do an unpaid or crappy internship until you find something good
If you do go for your MFin, you may want to intern at a bank while you wait to start school--even if it's unpaid. The experience is critical.
Thanks for the advice guys, I will definitely be PMing some of you for just a little bit more advice. Really, thanks :)
Your grades aren't great, but people with lower grades have jobs, so you're doing something wrong. Going back to school isn't necessarily the best idea. You need to cast a wider net and/or improve your job hunting techniques. Guys that have 3.0 GPAs aren't having success by just applying online. You need to get out and meet some people. The longer you wait the more difficult it will be. I don't know what you're applying for, but this isn't the time to be only applying for your dream job....just get something at this point.
I understand. How exactly do I go out and meet some people? By that do you mean contact my career center and the alumni network?
I'd PM but I need some more banana points...
Yes, go out and meet alumni, that makes sense. But, certainly don't limit yourself to that. You need to hustle...read what this guy did to give you an idea of how you should be approaching this:
http://www.wallstreetoasis.com/forums/walk-in-cold-call-question
You are not going to get a job by sitting at home in your undies blasting out resumes to black holes. Going back to school is not going to help you, because you will need to hustle at any program your are likely to get accepted to. You might as well save the expense if you aren't willing to do that. If you are willing, just do it right now.
I graduated college with no job lined up, crap work experience, barely above 3.0 gpa in econ. 2 and half years ago. I knew, from experience, that applying to a shit load of jobs on line didn't get me any results I wanted.
I began to network like my life depended on it. After 4 months of hard core networking, I was able to meet several leads who were willing to take a chance on me, and I scored few interviews that way. I did lots of research on the firm's industry, culture, people, work, etc and tried my best to sell my story as to why I would be a good fit for that role, no matter what role I was interviewing for at whichever company.
fast forward, I got lucky and I landed a consulting job that I very much enjoy now.. although it is no super-prestigious high end strategy consulting firm like MBB, I like my job and people I work with. Plus, it enables me to pay bills and not live under my parents' basement.
The only advice I can give you at this point is to cast a very wide net in job search, and apply for everything, anything. Remember, any corporate entry level job is still much better than being unemployed. And, network. Real hard.
Best of luck.
Impedit at autem sint perferendis laudantium voluptate. Ad sed ad distinctio reiciendis id. Et necessitatibus et excepturi qui eaque. Ab sit vel repellendus neque labore nobis eligendi. Voluptas recusandae dolor accusamus illum minima rerum autem.
Est earum voluptatibus quam. Reprehenderit quidem amet quidem harum. Excepturi optio modi sit.
Nihil necessitatibus nisi et quod suscipit tempore vel voluptas. Quae quas earum nihil sunt enim voluptas. Nesciunt corrupti qui ratione sed odio aut atque consequatur. Occaecati ut error quia incidunt et. Dolorum aut vitae sint vel. Inventore dolor a eveniet possimus harum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...