Career in Finance - Reality or Reach?

Hey everyone,

I have been lurking on WSO for about a year or more and have finally decided to take the leap and join. Basically, I am an undergrad student, like so many others, seeking any and all advice I can get to improve my career prospects.
A little background info: Up until a year and a half or so ago I had no serious interest in pursuing a high finance career. I assumed without going to a Top 25 school, not having family/friend connections or any real networks to the industry that I was basically a day late and dollar short; standing no chance against the Harvard student who's first ever job was the summer internship his dad scored him at Goldman. However, entering my junior year I took a finance class as an elective and really found a passion for investment management and equity research - and have subsequently altered my coursework to reflect that change.

I am finishing my junior (3rd) year at a non-target state university (which from what I gather really hurts me in the finance world) pursuing a Dual-Degree B.S. program in Economics and Sociology with corresponding minors in Finance & Psychology. I will graduate in December 2018 (also not a super huge plus for recruiting season as I now realize). I have always worked 30+ hours a week while going to school full time. I have had internships in an Accounting Office, Direct Sales & Marketing Internships (with a software company), and a Risk Analyst position (which is mostly insurance - not portfolio risk). None of these positions have been for BB's or IB's. This summer I will be interning with the endowment fund at our university, which will represent the only true investment management experience I will have acquired when I graduate.

My Overall GPA would end around 3.0-3.2+ (which is not getting me past a majority of cut-offs) with my primary major/minor (Economics/Finance) ending around a 3.4+. I am involved in the Financial Management Association (FMA) club on campus, who manages a small amount of money and competes in national investment challenges (D.A. Davidson), and have written the Investment Policy Statement for the club. Additionally I am sitting for the Securities Industries Essentials (SIE), FIRNA Qualification Exam in October as well as the CFA Level 1 in December before I graduate. I am currently in the process of learning Python and Database fundamentals through Microsoft MTA certifications.

Given all of this, I was hoping you guy's could tell me your thoughts on my current trajectory and give advice on what additional steps I should take or what to do next? Thanks in advance!

 

Talk to your professors that your are close to ex: (Harry Potter and Remus Lupin) see if they can get you connected they can be an awesome resource. Talk to the dean of business if you have one.

Talk to the other students in FMA they should be a good resource (even if they are not going into "high finance").

Use your network that you have to get connected with others on LinkedIn see if you can get coffee with somebody you would like to meet.

Cold call/email

Sorry this is just general advice, but if these do not work out consider a MBA as a last resort (cost a lot of money to get an associate position assuming you make the M7)

I personally do not know much about being in your situation, so take my advice with a grain of salt

 

It'll definitely be an uphill battle. Working with the endowment fund will certainly help. When I went through the interview process, a lot of people had questions about my experience at our school's investment fund, and it definitely shined a positive light on me as an applicant. I'd recommend:

  1. Try to find as many ways to leverage the endowment position as relevant investment experience. While working there, some of your colleagues may have background in IB and could be good to get advice/guidance from
  2. Show passion for investments -- come to interviews with pitches ready and show that you're generally passionate
  3. Since you mentioned that you're coming from a non-target, if you're having trouble getting connected for interviews, you could use a service like The Lobby. Cost a bit of money, but they'll connect you directly to analysts who can help you figure out what steps you need to take to get interviews with the companies they work for
 
PenAndPencils:
3. Since you mentioned that you're coming from a non-target, if you're having trouble getting connected for interviews, you could use a service like The Lobby. Cost a bit of money, but they'll connect you directly to analysts who can help you figure out what steps you need to take to get interviews with the companies they work for
Purely theoretical question - do you think that these "networking outsourcing" types of services actually work? What exactly is the value of talking to someone relatively junior, is it the recent experience of getting to that spot?
I have a friend who lives in the country, and it's supposed to be an hour from 42nd Street. A lie! The only thing that's an hour from 42nd Street is 43rd Street!
 

Yeah, I can't speak for other services, but I have heard good things from the above, which is why I recommended it. I think the fact that the junior bankers were recently in the caller's shoes definitely helps and gives them perspective, as well as empathize with the person trying to land a job.

Also, at the end of the day, the analysts/associates are going to be the ones making a lot of the recommendations around who should get an interview, since they're the closest to the process. If the call/informational interview(s) go well, I imagine they'd likely recommend the caller for an interview, since it will look good on their end to source high quality talent.

 
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