FELLOW PRIMATES HELP! I'm losing my life!
I'm been visiting WSO for over 2 years as a guest and became a member not too long ago. I have been trying hard to break into banking before and after graduating from a state college. I have been working as an unpaid associate at a venture debt firm in NYC for a year now but I'm broke, in serious debt, out of my apartment, lost my fiance (didn't sweat it... but she did say she was leaving 'cause I'm broke) and have student loan payments I'm behind. I know mine's a familiar story but I wanted to reach out to the community for suggestions, advice, and/or assistance in getting a job.
I'm open to critique for my resume as well :)
(it kinda spilled into two pages...)
http://www.razume.com/documents/14183 (edit: updated resume)
Im not from the States - what are the consequences of defaulting on student loans?
They are not cleared in BK.
seems like a carbon copy of the vault resumes... looks good though
1) Put your GPA on the resume 2) I would get rid of the community college section and lump it into your state school section
I will give you solid credit for the internship experience you have. Looks like you busted you ass to get the shots you have been given. Either get a PT night job/weekend job so you can keep interning and trying to do something or consider going back to school for a MSF degree. Actually, in your case, I think a MSF would be pretty solid. You could add a decent name to your resume, give you a shot at forma recruiting, give you some cash to pay your bills and defer your student loans.
I'm in a similar situation, graduated back in May 09 from a top public school, and am still unemployed.
My strategy going forward: 1. Pick up some moderately financial job (financial advising, corporate finance...not first choice things but at the end of the day it puts food on the table), no matter how boring I might find it 2. Dominate the CFA 3. Get back out there for what I really want once the shitstorm dies down a bit
I would either take out "poverty" and "sea creature" or rephrase em
@Patrick Bateman: never seen a vault resume...bt thx for ur feedback
@AnthonyD1982: thx much. ur right about bustin my ass to gt the internships...im glad i did too. i hv thot of goin back to school but i dunno if i want a msf..i read in financial times tat zickin (baruch college) is one of the highly ranked msf programs in d united states (in d nyc area, columbia as well). bt since i really want a jd/mba, i tink it wuld b a good educational fit for a career in d alternatv investments industry n especially the financial regulatory environment tat is impendin.....ne thots?
@julianroberston: moderately financial job like prudential's financial advisor, northwest mutual advisor....errrrrrr.....dont like working on my own dime without gaining sm practical work experience. n believe me i tried :) bt yes im all over d cfa. i wish there was sm way i culd do d cpa...mayb delaware? i hear less requirements over thr? thx for ur feedback...n hang in thr!
@noexplode: i took out "poverty" n rephrased "sea creatures" as "marine life"....thx
errr....wonderin if ne primates had job leads? mayb?? :)
I feel for you, because you clearly have a lot of dedication to the field if you are willing to work a year for free.
But it is ridiculous that they are paying you nothing. You need to be applying/interviewing elsewhere all you can, and also speak with your bosses to discuss this (if you are adding value, they should be willing to pay you). I wouldn't focus only on banking, as their recruiting tends to be relatively rigid (usually only hire on campus). Network your ass off with VC firms, smaller banks, smaller pe firms, and corp fin (this can lead to other areas later).
Obv Troll. Who works for a year for free post college in NY? If your experience is 1/5 of what is says on your resume you shouldn't have a problem landing a gig like the rest of us monkeys.
I don't know, if given the choice between work for free in IB getting experience or taking a BO role that pays, I would work for free.
If anything we gotta give it to this dude for sticking it out. How many people come onto this board talking about being stuck in BO and wanting to get out. I am sure the OP could get something BO, but he is determined.
FYI - its Chartered Financial Analyst not Certified Financial Analyst . Although it seems minor, this mistake can actually get you into a lot of trouble with the CFA institute (there is an entire section in the Ethics book devoted to how to properly use the CFA designation).
Also, I would just simplify it to CFA Level 1 Candidate
I really don't understand how you worked 1 year as an intern for FREE and now asking what to do. After a couple months I would have either a) initiate conversations/see the feasibility of getting paid (even if it's like $10/hr) or b) use that exp. to get some paid internship anywhere else.
I really can't see myself or anyone working for free for 1 year and at least not have some plan to get paid eventually.
I commend your efforts and I know how hard it is out there. But at the same time, your time/effort is still worth something. By 1 year, I think you should have at least gotten the chance to validate your worth. Either get hired or GTFO.
@ibd4pe: troll???...well show me d paid ib position n i'd knock hard on dat door... :P
@anthonyd1982: i dunno i tink i mayb open to bo at dis point...tho its been too much of a sacrifice to turn around now
@don draper: omg i cant belief i made such a mistake. i correctd it. shuld upload edited version shortly. thx much
@bigmonkey31: i understnd ur feelin...my intention was to gt hired after graduatin bt w no job offers i acceptd d unpaid position at d venture debt firm for work experience, education, exposure n value. n believe me i hv tried d options u outlined to no avail...n im tryin hard to gtfo...thots?
@cashcow: thx. i'm def networkin..banks, vc firms, pe firms etc...ne specific firms u hv in mind tho?
Mattigator, where the hell did you leane how to type and abbreviate ?!
Might be time to have an open discussion with the venture debt firm you're working for right now. Tell them what you told us - that you think the experience is great, and you're thankful they gave you the opportunity to gain tremendous work exp, but you're flat broke and you need something more permanent to pay the bills.
I agree with bigmonkey31 that this discussion should have happened ages ago, but better late than never. And if you've developed a good rapport with them, they would sympathize with your case. At the very least, if they really 'cant' afford' giving you a salary pay, they could spring $10/hr or some bare minimum.
You've worked there 1 yr, so you can also ask them to help you network, ask them if they have any buddies at banks that are hiring. NO ONE expects you to work for free forever, they know you'll eventually leave for something that pays, so they won't hold this against you.
@Kanon: Thanks Kanon...Believe me, I have raised the issue and had the conversation several times with management. The sad part is that there are many people out there who would jump at the same "opportunity" to learn. They sometimes reimburse my commuting expenses but that's about it. Disturbingly, last year the MD actually mentioned to me that the experience and Wall street exposure was the compensation. I really have tried talking to them but to no avail, and I figured it would be easier to cross to the next opportunity if I was still "employed" and that's why I have continued to stay there. I have not been lackadaisical about the issue, but its rough out there I tell you, but I'll keep at it...and that's why I sought primates help.
@AnthonyD1982: Is the above typing better? :)
Just checked your resume again...you are not allowed to say Chartered Financial Analyst - Level 1. If you passed level one then you say you are a CFA Level 2 Candidate. I don't mean to harp on this as most people would not care. But if your resume is looked at by someone who is a charterholder they may pass you over since it may indicate a lack of attention to detail etc. etc. This link may help if you are still unsure ( http://www.cfainstitute.org/aboutus/policies/cfaguide.html ). But all you need to do to get the point across is put "CFA Level X Candidate"
With regards to finding a job, have you been reaching out to recruiters, using sites like Linkedin and Doostang, etc.? I would recommend checking out glocap.com. They are a very well respected search firm and their site makes it pretty easy to apply to jobs. Lastly, this is pretty obvious, but have you asked the people you work for to help make introductions for you? I mean, they owe you that much.
That sucks, I guess they're just being dicks then. Yeah, in this enviro, they can be opportunistic as they can easily find some other kid to sit in your seat. There is no one single professional at the firm who you get along really well w/ and can help you out? I would assume they'd be appreciative enough for you sticking it out, that they'd make a call for you...
edit: Oh, Don beat me to it, but yeah, it's not much effort them to make a call to their friends...
edit 2: Actually, you can only put CFA Level 2 Candidate IF you've paid/registered to take Lvl 2. If not, you should put 'passed CFA Level I in XXX 20XX'.
@ Kanon: Good point. I kept moving onto the next one, so I never came across that issue.
@ Kanon: Great points. I will fix the CFA link in my resume to read "CFA Level 1 Candidate - December 2010" I talked to a few guys in management about talking to their friends who are hiring - I still haven't heard back from them. Heartless I know...but a lot of these guys figure they can take advantage of the state of the economy and job market. @ Don Draper: Thanks for the link. I'll read up and make sure its correct, safe and ethical
Right now I'm considering grad school and the CAIA program. Alumni, Linkin, Indeed.com, Doostang, Glocap, efinancialcareers.com, WSO, NJ job fairs, NYC job fairs, Monster, CareerBuilder, etc... tried them all and still trying. I'm sure something will happen soon enough. Still keeping my fingers crossed. Let me know if there are any other ideas or suggestions or LEADS :) !!! Thanks a mil guys!
The first thing that you need to do is ask your boss if they can possibly pay you. Just let him know a bit about your situation and see if he can help. Even $10 an hour will help you with rent and ease the pain of the debt. From there you need to seriously start networking. Try to put yourself in front of as many bankers as you can for coffee etc and just push for informational interviews and formal interviews from there.
Fucking terrible advice man. You can't just ask, you gotta tell them exactly what you want. Demand it! - politely, of course. Here's what you do. Show up to work on Monday, walk into your bosses office. Say something like this:
I know you're busy, so I'll be brief. I've been working my ass off for you for a year now, and I want to continue to work my ass off for you. While I very much appreciate the opportunity you've given me, the current situation is no longer mutually beneficial. I need to be compensated for my efforts, and that compensation needs to be in line with the going rate for someone w/ my talent. I do great work, I'm smart, I know this business, and I'm an expert at [insert whatever you do, whatever the firm does]. That being said, I cannot go back to work before I have your commitment that we will negotiate a new employment contract, in good faith, before the end of week. I'm extremely confident that we'll be able arrive at a mutually beneficial agreement.
(confidence is key, maybe take a few shots of whiskey first if you think it will help, but make sure you get the smell off your breath)
If he says fuck off, then whatever, move on - you have absolutely nothing to lose, and everything to gain. I suspect your boss will think to himself "this guy's got some brass, I want him on my team, I'm gonna give him a huge ass bonus." No one is ever going to write you a check just b/c you ask politely like a little fairy. Grow a fucking pair and take what you deserve. Your problem is you're putting the pussy on the pedestal. You can't go up to a chick and be like "Hi there, I think I might like you, could we possibly maybe go back to my place and perhaps have sexual intercourse." You gotta be like "Yo baby girl, I'm the champ and I've decided that I'm gonna take you back to my place. We're gonna fuck tonight and you're gonna have a thousand orgasms." That's how shit gets done my friend.
Also, I think you're wrong when you say
If instead of the wasting your time working for free you spend it exploring other job opportunities, you'll find one in no time. Start looking out for number 1 man. Now go out there and let it be known that there's a new Big Swinging Dick in town!(full disclosure - I've never worked on Wall Street. I do know how to get what I want though.)
@whiskeytango: lol..very interesting post tho...you make some very good points...but I can burn the bridge becuase I may need them for reference or business school letter of recommendation...but thanks for the advice.
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