Banking With My Background?
To be honest I didn't really develop an interest in finance until recently and was wondering if banking was a realistic possibility given my background.
I attend a USNews top 15 non-ivy studying government and history. I have a cumulative GPA of 3.5 though with major gpas of 3.6 and 3.9 respectively. Sadly my low gpa comes from two econ classes... so I'm sure I dont have a good track record. Though I did manage a B+ in my corp finance class.
I have a good range of prior work experience, though nothing too related to finance. I've interned at a top think tank (Brookings) and a major DC lobbying firm. I also have a research background in political economy and have published in two business journals (on an obscure regional specific finance issue). I think I have decent ECs. I started a club on campus and was part of a business venture of moderate success.
I know what the entry level analyst job entials and I'm pretty sure I have the skill-set and pain threshold to do boring bitch work, so I think I can offer a firm answer as to the "why ibanking" question.
I went through recruiting at my school this past spring. I submitted my resume everywhere and actually didnt get many interviews (no finance interviews). I know that recruiting for the summer is a bit harder than for full-time but how much more I'm not sure.
So all you bankers out there... is this something I should pursue? (i.e. do I have a realistic shot?)
O, I have pretty much little to no connections in the industry. I do vaguely know a MD... would this be helpful? If he were to forward my resume to HR how much a benefit would this be to me?
Thanks.
I cant really offer anything in return for the advice... though I'm quite well versed in the political and economic policies and their implications of various east asian countries. ;)
Also on a related note... what constitutes as good work experience?
For example, getting an internship at Brookings is pretty difficult, easily on the realm of say cracking into Goldman... but obviously the fields are pretty different. Do recruiters value this type of WE?
the #1 issue you're going to have is getting the interviews and then #2 convincing them that this is REALLY what you want to do. Your past experience is kind of mixed but that's ok bc you're an undergrad. you can point out your business venture and clubs and ECs and focus on those. Tell them you've always been intereted in finance, you just wanted to get a broad experience before delving into a career after college.
it's all how you network and carry yourself. If you believe these WE carry over to banking, why? Any skills you leared at Brookings that would be helpful as an analyst? bankers won't give a shit that it is as hard to get into as Goldman (and never say that in an interview), but what they will care about is how you can explain to them why you would be a better analsyt bc of your WE. (hint hint: multi-tasking, working with seniro team members, working late nights w little sleep, doing work that was brainless a lot of the time so you could also gain exposure to the work that actually taught you something, etc)
good luck. i think it's all how you frame it...i was an assistant to a GM at a Yoga studio and i got an banking job in 2002, one of the worst job markets ever. just believe you can do it and go after it 100%. first work on getting the interviews, then have someone tear through your resume to help you practice. make sure they are harsh on you: "Well, looks like you haven't done a lot of finance -realted stuff, why do you want to work for us? ...shoudln't you be going to law school?"...questions like that. it will help you immensely if you practice.
Thanks for the advice. I think I got the whole selling myself down pretty well. Where I goto school people either work in Consulting or Finance after graduation so I have a pretty decent picture of what IBD is from the many friends currently doing it.
I didn't know that firms cared so much about have a demonstrated interest in finance. We have like a dozen different finance/business clubs at my school and the people who are members are def all on the very very very toolish side of life. So I've kindof avoided those clubs simply because of the aggressive brash talking types. From what I've heard from friends in finance, these are the types who flame out the quickets and supposadly banks are averse to hiring them becauase they dont always get along with people. Is this true? Or did I shoot myself in the leg by not joining said clubs?
Also in that vein, would it be okay to highlight that my interest in finance was developed recently? Basically my answer would be along the following:
"My interest in finance was developed through my academic interests in the financial and banking reforms of East Asian economies. During the summer of my Sophomore year I was awarded a grant to do research about the impact that foreign institutional bankers were having on the banking sector in China that provided me with an opportunity to interview different bankers at different levels from different institutions. From this experience, doing research on the industry, and talking with friends and alumni about banking, I think finance is a good fit for me."
Yay or nay? Or should I seek to incorporate more details about how I'm aware that finance hours suck ass and I'm willing to work the hours doing little busy mundane tasks because I think IBD is a job where I can learn the most and expect the most return on my work post graduation?
Last question. How would I go about securing interviews? I was kinda disappointed that I didnt get one interview this past recruiting season for summer positions. Is this very networking driven or is there some critical flaw in how I'm presenting myself on my resume?
I'm in a similar background. Would be interested to hear more advice.
Bump. Still interested.
please be more specific in the type of advice you are looking for. i could go on and on about iBanking but I find it more efficient to answer specific questions. otherwise i'm not sure the type of advice you want. i need to know the specific situation. thanks.
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