Entry Level Roles in NYC
I graduated over the summer from a top 25 school, and recently moved to New York. I have two solid acquisitions internships on my resume, and a pretty solid GPA. I've been searching for a job over the past few months, but nothing has worked out so far. I'm thinking about taking one of the brokerage roles that is primarily cold-calling, but I'd prefer to take something else if possible. Honestly, I just want to start working, and sitting around trying to get a job is frustrating. Can you guys think of any roles that I should be looking for? Ideally I'd want to do acquisitions/capital markets, but at this point I'm open to whatever. I just want to get as much experience in the industry as possible.
Any help would be appreciated.
Why not try to get any analyst role on an investment sales team. It’ll give you the correct experience to transition to acquisitions later on.
Would really like to do Investment Sales, but I don't think there are any openings at the big brokerages (JLL, CBRE, C&W, etc.) in the city. Could take a role at one of the "cold-calling" brokerages but I'm not really going to get any experience being an analyst there. Not saying those jobs are bad; people do very well there. It's just not what I'm looking to do down the road.
Many of these firms hire sporadically and don't have a 'recruiting season' so keep your eyes open as they don't come up at the same time as other industries. Or, as JSmith mentioned below, expand your geographic net.
If I were in your shoes I’d be open to more locations than NYC. I’ve never seen many postings for udergrad RE jobs in NYC. A senior person explained to me that new grads don’t add enough value to warrant an NYC salary (his words, not mine), so many Nyc firms prefer experienced hires.
If you’re ready to get to work, head to Dallas, houston, Atlanta and work in debt/equity brokerage or lending. See jobs all the time for those cities. Also a new grad job for a PE fund in LA called PCCP has been on select leaders for a while. I think everyone would agree that living in a city you’re not familiar with and working a good job for a year is better than cold calling for Marcus and millichap in NYC. **
Would definitely move if I could, but due to extenuating circumstances I probably have to stay in NYC. Hoping that changes soon though. I've interviewed for REPE, Debt/Equity Placement, and a good investment sales role. I keep on getting to the final rounds, but I haven't been able to get the offer. Accidentally messed up the investment sales interview at the very end unfortunately.
I would be open to NJ then if I was you.. Cushman/JLL/HFF all have really strong teams out there and I see postings often at least for Cushman/JLL. Still very competitive, though.
NYC is the epitome of nepotism more so than any other market.
You need to network hard. Pair that with you background and you should be good.
look for some post grad internships. If you can find something it may buy you some time to network and get your name out there. Speaking from exp.
Also to point out, if you find an opportunity with a firm that isn't nationally known and just NYC based, I would do a lot of research and ask around to any network contacts you have regarding them. (Best contacts to ask in my experience are reputable brokers. I had an HFF MD contact who would give me the scoop on any firms)
Just because you see the firm has a great portfolio on their website, does not mean they are good to work for. I have heard horror stories about some NYC specific firms.
Keep throwing resumes to recruiting firms constantly while also just apply apply apply. If you have your network, use it! any friends parents you know in the industry? CRE market is in a little precarious situation, so maybe some are being a little cautious.... its also a little off season as well. I agree with some others, look into NJ and CT firms if they have assets on the gold coast (id stay away from hartford area maybe?)
Absolutely apply to any finance that has a semblance of interest! Beggars cant be choosers lol. Good luck!
Entry-level AM/IM roles in Boston/New York (Originally Posted: 08/20/2015)
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Northeastern?
You have a couple options from my perspective.
Option 1: You can aim for Fortune 500 rotational programs and FLDP's, which usually only require a 3.0 GPA or above and then you can get an MBA and from there restart your career in whichever direction you want to.
Option 2: Networking is always going to be an answer and it's a valid one, but it takes a lot of dedication.
Option 3: Continue schooling by getting a Master's, accumulate more directly related internship experience during that time and then try to leverage that into a desired position.
Option 4: OCR, applying to entry level FT positions, and doing what you've been doing so far.
I'm sorry I can't be of more help. Hope this helps though.
Thanks for your reply, this is very helpful.
I've started to expand my network, I know that this is one of the most important things you can do to get a job out of college.
At the company I'm at now, there is a two year rotational program in the investment management division, it's not exactly an FLDP, but I think it's a pretty good program. Is that my best shot of getting an analyst role at a big time money manager, based on my background so far?
Recruiters - Entry level finance/banking recruiting firms in NYC (Originally Posted: 05/06/2007)
Do any of you know of the best, or of any, entry-level finance/banking recruiting firms in NYC? From what I've come up with, there are A LOT of executive search firms, but almost no entry-level ones..
They're arent entry level ones because of the pay usually means the finders fee doesn't justify their effort (1), there are established routes through campus recruiting and online (2), alot of students find jobs effectively through #2 stated above.
I would start applying to a bunch of firms, don't despair or anything.
Entry Level in NYC area (Originally Posted: 11/10/2010)
So it's been two years since Ive graduated undergrad. Got out Dec 08, right when the economy began to tank.
Graduated from University at Buffalo with a 3.2 in Finance.
So Ive come to get advice on my current options. Its not the best school, not the best GPA, and I likely dont have a chance at positions at top firms like many of you.
Job sites are basically just filled with sales, planning positions and thats something I'm not interested in at all.
So please give me some career advice. Realistically, where am I able to go from here? I dont want to go for the MBA til I have some experience...
Thanks
What have you done in those 2 years?
For the past year Ive been working a blue collar job and prior to that I was just searching for work. Pretty terrible situation I'm in.
A lot of firms have openings in ops right now. That will probably increase with regulatory overhead.
Although you do have a degree, it might be difficult to make the sudden switch with no relevant experience.
In your blue collar job, is there any way to work up or partake in a management role? Are there any finance related opportunities within this field? This could also set you in better position for the MBA down the road.
Another option would be to look at back office work at some of the bigger firms if you don't want to do anything sales/planning related.
Otherwise, it will be pretty tough to break directly into front-office finance.
Well I'm not interested in staying at my current job or the industry at all. I could definitely move up the ladder here fairly quick with a degree, Ive been told so already. But as mentioned, I cannot stay here, its not for me.
And yes, I would be interested in back office work, its just that I cannot find any. My problem may perhaps be that I'm only searching the big board sites for work. What recommendations would you give as far searching for work? Should I call up staffing agencies/headhunters?
I don't know if Buffalo is a target for ops programs at any big firms, but see if you can't access U of Buffalo's career pages. As an alum you should still have access...
I am kind of in a similar situation as you. Graduated with master finance degree in Dec 2008, was not able to land any job that was related to finance. And luckily got a position in a high-tech environmental company as market analyst for past two years. Still, I want to land a job as financial analyst to put my first foot in the industry. I have been taking online financial modeling classes to fresh up my skills in modeling and spreadsheet. Tried to apply for some open positions but so far no luck at all.
A bit of frustrated, do not want to stay in the current job, any advice about how to make my wish come true is welcome. Thanks!
Since you are in a niche market of environmental technology...ever though about enter into a clean tech group at an IB? A few BB and boutiques have clean tech groups.
I agree with the earlier post about trying ops/mid office. Do that for 1.5-2 years then try to transfer to front office analyst role or worst case get an MBA. Its a slow process- you're lookin at 3-4 years before you're in a spot that can get you to a spot you want to be...
Try Citi in Buffalo. Their Yield Book dept hires UB and surrounding county schools.
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