Got rejected from a club and start doubting myself

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Really interested in investing and market in general, but got rejected from a student-run investment club at my school and made me start doubting myself if finance is for me. How should I overcome this?

Comments (44)

 
Nov 25, 2019 - 1:31am

Keep learning on your own. If the validation of others decides your career path you’re in for a miserable life. If you really find it interesting and like it, then keep learning. The club likely doesn’t offer you that Google/ library books can’t.

Michael Jordan was rejected from his HS Varsity basketball team. Elon Musk was told astronauts hated SpaceX. Jeff Bezos was mocked for thinking he could take on Sears.

“The three most harmful addictions are heroin, carbohydrates, and a monthly salary.” - Nassim Taleb
 
Nov 25, 2019 - 1:55am

You have no idea how prejudiced and messed up these processes can be. You never know if you got picked over two other kids who were in the same business frat as the President (who the President promised he would get them in).

Keep working hard and preparing for your long-term goal and studying for the next application process for this club if you are truly interested in joining this club. It's not the end of the world. As you probably know, there are tons of kids every year who are not in the most selective investment clubs at their school but get awesome jobs out of college because they hustle and don't let the fact that they don't' have an exclusive membership in a finance club weigh them down.

 
Nov 25, 2019 - 3:17am

Are selective clubs the norm at most universities? I know my finance club is open to everyone, which includes the investment club. The only clubs here that you have to apply to here are engineering and consulting clubs. Maybe the finance crowd here is too small to turn people away, lol...

"Markets can stay irrational longer than you can stay solvent."
 
Nov 25, 2019 - 3:23am

Definitely don't let this get to you.

Good student-run investment funds are usually competitive but also sadly very political. A lot of great pitches and interviewees often get passed on even though they would be a great fit. I've seen this firsthand at my university's fund and far too often at other schools.

There are other ways you can display your passions/interest in markets & investing. Try starting a seeking alpha or medium blog where you post your pitches and due diligence.. it's a good way to build a portfolio of your work and you will definitely be able to highlight this in your interviews.

 
Nov 25, 2019 - 7:16am

As a student you are likely to face multiple rejections (internship applications, bombing interviews/superdays etc.). The sooner you start not taking it personally,but simply reflecting on it and improving the reason why you get rejected (assuming there is room from improvement),the better. Start your own club,start your blog/website posting equity pitches and analysis. It can show initiative,drive and creativity,which is likely to stand out much more than "participating in xyz club".

 
Nov 25, 2019 - 11:30am

There is no reason to be upset for any reason. Personally, I have been rejected from fraternities, social finance clubs, and other organizations. You move one and you learn from your mistakes if you made one, I highly doubt you made one.

"It's okay, I'll see you on the other side"
 
Nov 25, 2019 - 11:46pm

We were asked by a club in Marrakesh to pay an exorbitant entrance fee. We refused and walked away and they decided to let us in anyway, and our ratio was about 50/50 which is fair. We took a step inside and it was straight up empty except for a bunch of girls that were paid to be there. It was about 10 PM when we arrived. It did heat up in a big way later (like midnight+) but for a while we were just sipping drinks by ourselves while a DJ played to a room devoid of all but lasers.

Be excellent to each other, and party on, dudes.
 
Funniest
Nov 25, 2019 - 1:21pm

To get into a club, whether it be an investment club or nightclub, it's always best to know the secret handshake.

60% of the time it works every time.

Array
 
  • Associate 2 in CorpDev
Nov 27, 2019 - 9:36am

Spot on mate. I read the title and came in here expecting an important discussion about tips on getting into clubs / OP getting refused entry into some posh nightclub. Or something serious and important like that.

But no, it was about some student club...

 
  • Intern in IB-M&A
Nov 25, 2019 - 4:08pm

Buddy, I've been in your exact same position the past couple years. I go to a non-target and the only kids that get banking jobs are the kids who join our student run investment group (and they generally go BB). I was rejected four times.

Last spring, I began to recruit for SA spots thinking I very well could be fucked. I began networking and landed my SA spot in April, at a better firm than where the president who rejected me will be working FT and where he worked as an SA.

What I'm trying to tell you is that your chances will not be made or broken by a student-run investment group. The rest of your resume and GPA are extremely important, but networking will always be the biggest factor.

 
Most Helpful
Nov 26, 2019 - 12:27am

Years ago I was told in an interview at a MM bank that my school was mediocre, my grades were low, and my experience was completely without value to anyone at the bank. I was told point blank that my resume should've been thrown in the trash, and I was promptly ghosted.

Now I work in the front office at a bank that members of this board routinely list as their top choice in stupid prestige lists. My reviews are full of praise and my talents only continue to magnify as I practice them.

I cannot tell you whether or not it's possible for you to get into the club/job/X that you desire - but I can tell you for sure that if you give up, you never will. And I can tell you for sure that if I had let some hack loser in HR at a mid-market bank convince me I wasn't good enough, I would've missed the opportunity to show that I may actually be one of the best.

When the going gets tough, remember: "A man cannot remake himself without suffering, for he is both the marble and the sculptor." The pain is sometimes a sign that you are doing precisely what must be done to pave the way to your future.

Array
 
Nov 26, 2019 - 1:24pm

Which schools reject from clubs? Is there a reason they don't let anyone in (i.e. is there some finite resource within the club)? I thought half the point of clubs was to learn about the topic??

That said, keep your head up dude. Shit like this happens all the time and is not at all indicative of your potential or self-worth. Keep studying, networking, etc and make them regret not letting you in.

 
Nov 27, 2019 - 9:42am

Most if not all - it has to be selective to have a value on CV. Most banks use that as a resume/netowrking filter. I would personally speak to anyone in my ex-finance club, the threshhold is usually being ok-ish smart and personable (ie do you understand time value of money, if not can you understand it through inflation - if not bye thx).

 
Nov 26, 2019 - 6:08pm

Here's an idea, start your own investment club. Go out and fund raise $100 million at a 3/25 fee structure, aggressive L/S market neutral strategy. Crush it, and then poach everyone (except those who crossed you) from the investment club you didn't get into and force them to close up shop. As for the cherry on top, make an enormous donation to your school and have them change the name of the business program to yours.

 
Nov 26, 2019 - 7:29pm

It is true, almost by definition, that to be a good investor you have to see things in a way that others don't. Very hard to beat the market by thinking like the market.

Does that mean that if the future world's greatest investor applied to a student investment club today, that he'd be rejected? Not necessarily. Maybe his general strengths are so good that he gets in on the weight of his knowledge and sounding smart, despite the fact that (as the future world's greatest) he clearly has a thought process that won't make sense to most others.

So it doesn't mean he won't get in. But it certainly raises a strong possibility that he won't.

 
Nov 26, 2019 - 8:56pm

There is talk on here about a club called a “network” and it is super competitive to get in because it gives you a huge advantage when applying to IB. Some of the smartest people get rejected from this club. Like in business, a lot of it is connections so don’t put yourself down for not getting into the club you’re talking about. If you are able to make it on your own without the club, than that’s way more credit to you.

 
  • Prospect in Other
Nov 26, 2019 - 10:31pm

I was actually kicked out for some bs "social fit" reasons. I actually really like the club's investment philosphy and just start to doubt if this investment style is for me.

Array
 
Nov 26, 2019 - 9:18pm

dude...if thats what makes you feel insecure you will never get anywhere in life. People nowadays make way too many assumptions about their performance in their short lives. I know some people of average intelligence who went to private prep schools who now go to extremely prestigious universities and think they are demi-Gods. I know extremely smart and talented people who are not succesful and are embarassed about it. Bottom line...life is going to have huge high and lows...everyone looks smart until a bad divorce,dui, or publicity event

 
Nov 26, 2019 - 10:48pm

you would do well to be rejected from more clubs

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/
 
Nov 27, 2019 - 9:47am

OP: take this as a learning opportunity - what did you do wrong? and stay in touch with the poeple you liked in the Club. If you don't think the strategy is for you, start investing on your own with $100 and get returns,.

If you want revenge, then go to your school endowment and pitch a public fund where anyone can participate and include professors to show that it will benefit the wider school not just a select set of individuals. Now first of all you ahve a better CV than those from your old club, given that you raised money and started one. And you can point to the school what was wrong about the old one - depending on how it performs and mistakes made (ie president fucking a chick through getting her a spot - trust me it must have happened just speak around a bit), the school may withdraw their contribution.

 
Dec 10, 2019 - 9:54pm

I was rejected from my school’s specialized investment program. Fast-forward 4 years, I see this guy in a management presentation that was part of the senior class from that program that rejected my candidacy. He’s there to switch slides during the presentation as an IB analyst while I’m grilling his client as a PE associate.

Just hustle and don’t let that kind of crap get to you.

 
  • Investment Manager in AM - Equities
Dec 11, 2019 - 5:24am

I know how you feel. I applied to multiple of these back in my day. I was actually rejected from the investing club 3 times in 3 years. Thankfully there were more than just one and I was able to get tons of experience outside of school out on my own and through internships. Keep your head up. A lot of the times it's just some a-hole know-it-all student who's in the same boat as you, but snuck their way in.

Money can purchase freedom, if you have the guts to buy it
 
Dec 18, 2019 - 1:14am

Don't doubt yourself. They put me through a griller and didn't invite me in. Found out a year later they let my girlfriend (Interior Design Major). Usually just who you know and who can get their frat buddies in. As long as you have things to talk about. Win a stock pitch competition against those guys and ER Research people will talk to you.

 
  • Prospect in Other
Sep 14, 2020 - 5:37pm

Interesting read.

Array
 
  • Prospect in Other
Sep 14, 2020 - 5:51pm

Array

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