Being a Temp... Good idea or Bad idea?
Okay, So I'm currently working to rebrand my resume and image to get into finance. I'm currently employed by an exchange but not in a finance role.
Recently, I was approached by a friend who works for a staffing agency and he tossed out the idea of using a temp posistion to create a foundation.
Now, I'm not sure how the temp market compares to the intern market. Much less on whether or not the option will turn into a job. Which leaves me wondering on whether or not this would be something to pursue short term until I get into a Masters program (The plan is to start an Masters in finance this fall or next spring).
So, I guess the question is... Would attempting to temp for 3 to 4 months before my Masters be a good Idea or bad idea?
Would such a position even be considered relevant on a resume for landing internships and the such during my studies next year?
Is such a strategy typically considered to be a good use of time?
TL;DR:
Would attempting to temp for 3 to 4 months before my Masters be a good idea or bad idea when it comes to internships?
Explain your answer if you wish.
A) Can you clarify what you mean by "attempt to temp."? I thought these were things we simply did as opposed to attempted.
B) Can you specify what your temp role would be and what field you want to work in?
And for the love of all that is good, don't capitalize so many random words in your sentences. It makes things difficult to follow.
A.) When I say "Attempting," I'm referencing the time and research it would take to land a temp role in finance. You can attempt to temp and still not get any offers. It is the same thing as attempting to gain full time employment. You have to do your due diligence.
B.) The only roles that I've found to be consistently offered are roles in an associate of an associate position or as a front desk clerk. There have been a few that I've researched that are more along the lines of bond/equity evaluation. These few would be what I would strive for if this path is taken.
I don't see what the issue is so long as the temp assignments are offering you relevant experience.
Would you consider a temp position in a firm's operation arm a good way to break in (Originally Posted: 06/09/2017)
Hey guys,
I'm a recent grad one year out of college trying to break in to my first real analyst role. I don't come from a target school but have had experience at a private equity firm and more recently a financial consulting firm, as well as passing the first level of the CFA. Ive been offered a position as a transfer agency consultant for a 4 month project for Neuberger Berman. The hiring manager said I'd be over qualified for the position and knew I was searching more for a research analyst role but that if he saw a candidate that he felt would be a good fit there he would forward their resume to other teams in an effort to try to find them a permanent position.
Would you take the risk or hold for a more permanent position?
If you need the money, take the job.
If not, pass over it. You do not have to necessary wait for a research position, but operations is a long way from research.
On a scale of 0-100, with 0 no research job and 100 having a research position, you are at zero, taking an OPs would be about a ~5? It's like wanting to play shortstop for the yankees, and thinking you lateral from ticket sales.
I would go for something better, but if nothing is in your pipeline take it. Just continue to look while earning some cash.
Thanks, I just wanted to make sure I wasn't missing an opportunity to create a larger network. Back to cold calling it is.
Do not listen to these people. It is a four month temp job take it. The alternative is you are still searching which means you are unemployed. A job on a resume looks better than a gap. That said continue searching for a job while being a temp. By the time you find the next opportunity and go through the process of interviewing and then going through hr junk and background checks it could be 2 months. You'll practically be done with the temp job by then. Plus now you have an internal job board available to you for four months.
Ibanks Hiring Temps (Originally Posted: 01/03/2007)
Anyone heard of Ibanks hiring temps or contract workers to come in and work as or support analysts?
there is the night analyst program at certain banks if you work in NYC...
I got a call from a recruiter saying an Ibank wants to hire a temp or contract worker as an analyst. I thought it was strange.
IB Temp to hire? (Originally Posted: 10/26/2015)
Temporary Consultant at BB Investment Bank (Originally Posted: 09/07/2009)
Hey guys,
I wanted to know if anyone working at a BB here has had experience working with a temporary hire (or consultant). If so, can you fill me in on what these people typically do and if their duties are similar to what analysts do on a day to day basis. Also, I wanted to know if these hires have a chance at getting a full time offer if they do a good job once their term is up.
Thanks in advance.
What's with temp positions ?? (Originally Posted: 03/26/2012)
Graduated a year ago with bs in finance. I have three biggest ib's onmy resume but each for 6 months consultiong role in front office I rocked my last position, i thought this is it, i proved myself, can fit any companys budget, everyone likes me, and then i was hit with "ur contract will not be renewed". Now i have a resume that consists of great companies, excellent positions and achievements and they're all temp/consultant roles. I don't even know how to go about finding a full-time gig anymore, any advice?
Least youve been getting solid front office worrk man. Try a couple of temp back office gigs like me lol. Good luck!
OP - did you try pushing for a FT offer? From your post, it seems like you were pretty blindsided when that happened - must be a reason why they did that because I would've thought your boss would've tried to keep you in the loop throughout.
For these positions, did they say they were on a 6 month basis? Try negotiating with them with something longer and pays relatively well, in this market, it's especially to find a good and decent gig, so it's always better to keep staying a float by whatever means necessary.
You can be happy you didn't do the three month rolling contract I was on from '08-'09. That was scary shit, but I turned it into a FT offer and I'm still here today. Just make sure that the company "can't" go on without you. Just pick up a skill that nobody wants to do and bust your balls.
very simple....the economy is still sh*t......Obama is cooking the unemployment numbers....how can we pretend that the economy is strong when major banks are opting for temps rather than hiring full-time
@blastoise I can haz cheeseburger
Temp work is much better than no work. And just because they didn't offer you a contract doesn't mean you didn't do a good job. Lots of times their budget just may not meet it.
I would definitely push to get a perm position.. it usually pays better and you have much more job security.
Start using your contacts (supervisors and such) from past temp jobs to try and land perm roles.
@Blastoise: This is a life lesson for you; The ex-wife will take your money, but she'll leave. Just losing your money, but still have your wife there= she'll be nagging on you and complain when she can't go on here third vacation of the year.
In a more mathematical term on how you should approach women; Add me, subtract her clothes, divide her legs and multiply.
I am in the last three days of my OpsAnalyst gig in the gov... I had an interview on monday for a different agency... doing what? Project Lead sounds great right? Noooo its a 3-5 month contract... guh I can't wait till i get settled in somewhere and can slow down the worry and increase the job security lol
wow i've never heard of temp work in front office roles. its usually ops or other b/o crap as far as I know. Temp work is not so bad it pays well ($25 or so per hour) and overtime is nice!
Temps in the FO? (Originally Posted: 06/09/2011)
Are any of you familiar with temps being hired for the FO? MO and BO have plenty but any firm have temp folks in the FO?
never happens.
Dont know much about these guys beside what I read in a WSJ article once but they seem like a temp agency for bankers
http://www.accordionpartners.com/index.html
VERY CURIOUS AS WELL
ALSO: what about part time positions?
Temps at Bulge Brackets - What is the agency used? (Originally Posted: 10/26/2010)
I have met several people who are currently working as "temps" at bulge bracket banks (GS, MS, JPM) . Does anyone know if banks are resorting to hiring temps v full-time hires? If so what is the agency to use to get placed?
Keep in mind, at my old firm we would hire temps to do work that more senior people on the team thought was cruel and unusual to make analysts do and accordingly would crush their morale. So we would hire temps since once their souls were crushed they could be replaced.
The trick would be to really kick some ass and try to get a permanent offer, which is obviously VERY hard to do since:
1- its pretty hard to shine when you're doing the most menial of menial tasks
2- there likely is no position for which they would hire you
Although I did mention once before that I really liked one of the temps we had working for us and I did all I could to get him/her a job.
Try a firm called Wall Street Services.
Yeah, banks are hiring temps like crazy to cut down their full-time head counts and costs. They are also contracting out a lot of work and off-shoring a lot of the back-office work to India. To join as a temp, the best agency is Addecco. They are used by most of the banks. It is very difficult to convert a temp position to a ful-time position. You can apply for the full-time positions internally and follow their normal hiring procedures. Once they know you are a hard worker, that will help you. The main drawback is that the bank has to pay Addecco 4 months of your full-time salary as commission (similar to headhunter) if they hire you full-time. However, once you get some BB experience, you may be able to transfer that to other banks easily where they do not have to pay any commission to Addecco.
AG Adriano Goldschmied Diesel Guess
Any of you have NYC temp firm connections? (Originally Posted: 05/30/2012)
Hey guys, I’m in a dangerous cash flow jam and looking for BO/MO temp work, entry-level to 1-2 years experience. I’d appreciate a PM with names/numbers of any NYC temp contacts you guys know of, or even just advice on how to get temp recruiters to meet with me. I’m well qualified for ads I apply to online but I’m getting nowhere, and on the phone they get so damn pissy if you ask anything after they tell you to just submit your resume online and wait for a call. I’m getting connected with one decent temp firm now because of a chance meeting at a bar where I got to make a great impression in person. But I need cash flow desperately, so I don’t want to limit myself to just this one temp firm. Thanks for any help guys.
you need to start looking outside of nyc, esp if it's temporary! it's not your fault. it's the economy's
I was considering moving firms earlier in the year and used Staffmark, their office is in midtown. Try Meredith, she was my contact [email protected].
Just as a suggestion use a creative subject line like 'you were recommended' that usually grabs people's eye.
Lets Talk Temping (Originally Posted: 08/30/2013)
So, much like the post on the front page, I'm living the nightmare. Graduated in May '13, non-target state school, finance major/philosophy minor, mediocre gpa, one internship at a boutique financial advisory firm. I've done pretty well in the few interviews that I have gotten, but getting those interviews is beyond impossible for me right now. I've tried Linkedin to leverage contacts, cold-calling, cold-emailing, cold-messaging alumni on Linkedin....no results.
About a month after I graduated, I expanded my search to include recruiters (for temp and/or full time work). Not even a nibble. They all (obviously) talked a real good game about how I'd definitely be placed within 6 months.....3 months later and I've yet to go on an interview from a recruiter. I've tried all the usual suspects (Robert Half, Kelly Financial, Wall Street Services), and a whole bunch of others as well; and with the exception of two recruiters ( one of whom has never had a job to send me on, and the other who keeps sending my resume to places in Jersey looking for accounts payable clerks) I can't even get a call or email returned. I call, leave a message, send an email, and repeat it the following week.
Any tips as to what I can do to find some more success? Clearly I'm a bit desperate, and except for the bullshit cfp/sales track, I'm willing to do anything thats related to finance or accounting, just so I can get some experience and have transferable skills/ something that I can say I've been doing other than sitting on my ass. I'd also love to hear from anyone who has been in contact with a good recruiter.
Get your resume and profiles fully updated and searchable on Linkedin, Indeed, Monster, and efinancialcareers. I gaurantee you will get some more nibbles from smaller recruiters, stay away from Robert Half and those other huge ones, they are usually garbage.
I'm updated and searchable on Linkedin, Indeed, and efinancialcareers. Monster seems to be a waste of time, but if I'm being obtuse, feel free to tell me. I haven't had a drop of interest from a single recruiter. I did have one interview through efinancialcareers, but it wasn't even remotely a finance job (a manning the phone job at a small media company which does some private equity related publications) and wasn't through a recruiter.
I realize I'm not some genius who's going to get poached by the TMT Group at Goldman Sachs, but I really figured that a 3.3+ GPA, great extra-curriculars, and a solid (if not spectacular/impressive) internship could be good enough to at least land me some back office/ boutique interviews. The only thing I get emails for are straight up sales on comission jobs as a "financial consultant"/ "financial advisor" for Axa advisors, aflac, ING, etc, etc. Everyone else (including jobs posted as entry level) wants someone with experience.
I'm on the same boat as you... but you just gotta keep your head up. I've been trying to talk to as many people in the industry as much as possible to get some unanswered questions answered and also to see if there were any opportunities available.
I think you need to re-read this sentence "I'm willing to do anything thats related to finance." You might think that being flexible in your approach and casting a wide net is the safer route, but it may also show a lack of focus. This may sound counter-intuitive, but try to pigeonhole yourself. Hone in on goal - say you want to work on a muni desk - or whatever - and become a mini-expert on the topic. Spend time only on people who could help you land a muni debt analyst job. During interviews you can explain why muni desk is your goal, where you want to be in 5 years and you come off as more prepared because you will believe it. Don't come off as being open to any opportunity - of course you are - but that you are determined to do xxx.
I mean, I'm not stupid enough to say that in an interview. I'm just saying that for the purposes of this post; I'm not having trouble finding a job because I'm too closed off (FWIW, I wanted to work in either consulting, or do a valuation role somewhere and then work in VC----at this point, thats a fucking pipe dream), I'm open to just about anything that is skill building. Obviously when I speak to someone about an opportunity, my interest is in that opportunity. I think that goes without saying.
I know that feeling - was in your boat for some time. Where are you located and where are you willing to re-locate?
I live in Jersey, a commute to midtown would take about an hour and 15 minutes by public transport. I'm literally willing to go anywhere. International is no problem; I'd work in bumblefuck Ohio too if the position gave me the chance to build a solid skillset. I'm as flexible as can be (likely out of sheer necessity of course...I'd love to move back to NY and it would be great to get my first job there, but really, I'm not in the position to be choosey about any of this shit).
First lesson. LinkedIn connections are worthless. They make money by ads and recruiters looking for fresh meat - not by how valuable your networking experience is. I did a test to prove how stupid virtual connections were and sent a connect link to 200 people - people I never met or had any connection to. 163 added me to their network. People who accepted me out of curiosity or because - hell, what is the downside? You generation needs to lose the idea that your virtual pals are real people.
The company makes money because we live in the era of self-promotion. And for you, that should be an avenue to publish content and show people you have ideas.
Have you sent a hand-addresses letter to anyone? Have you published an opinion or research on the thousands of websites that would except them?
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