How bad did I f$#K myself?
First post, so just wanted to say hi before I begin.
Anyways, I graduated last fall from a fairly highly ranked state school (non target) with a finance degree. I thought I was a fairly smart kid since I graduated with a 3.92 (top 3% of my business school class) and I did fairly well in high school, getting a 3.95 and 2100+ on SAT. In college, I had a private equity internship where I learned a lot about financial modeling and valuation. Naturally, I thought life was going pretty good.
Fast forward to now. Recruiting was not so nice to me. I did not get any of the positions which I interviewed for, which included some corporate finance and rotational positions. Likewise, the boutique banks, which I reached out to, usually led me on for a while before eventually telling me there were no positions. I ended up getting a banking job at JP Morgan, in a suburban branch, as a "lead teller." You might say I have a front office job because the counter where I stand is about three feet from the front windows. Hard to get any more front office than that. Also, I am in a client facing role, that is if you consider the crowds from the nearby Walmart "clients", which I unfortunately do not. I know, I know, you all probably think I am trolling, but this is a serious post. I try to keep some humor to lighten my poor spirits.
What is the best course of action to take to get out of this place? I eventually want to work in investment banking, but I need the money (all $12/hr) of it. I am trying to network, but most MDs don't look too highly on bank tellers, even though in essence, we are both bankers lol.
TL;DR
Did I screw myself by taking this job at JPM after college? If so, what is the extent of the damage and what should I do about it?
Look on the bright side, you're at an elite firm and have access to the corporate directory. Look around the site, figure out which division you want to be in, and network with the people there. The good news is you're already at the firm, the bad news is it's difficult to jump from retail banking to anything other than commercial banking.
I know someone who made the jump from retail banking to pwm, and it was all done through networking. If you decide to do ER or am, the CFA will help your chances, so I'd start studying for the December exam. If you want ib, take some of the prep courses here or on Wall Street Prep. Keep us posted on your progress and best of luck.
Thanks for the kind words, it gives me hope. I will try to leverage my current position, however shitty it might be. Gotta keep grinding...
I dont think youre too far off, your UG resume seems like a solid background. Its important that you approach the situation as a recent graduate looking for a job in IB, rather than a bank teller looking to transition to IB. When asked about it in interviews, explain that you have always been strongly focused on IB, but that you had to take the teller job to pay some bills until the right opportunity comes along.
A MSF could be a good option for you if you can afford it, I went through one of the top programs and with your resume(3.92 GPA/PE internship) you would have no problem getting an IB job.
How long have you been out of school? you said fall, but did you graduate in December or Sept/Oct.? Being 6 months out of school it would probably be tough for you to land anything directly into IB. I would try networking with regional boutiques, as well as opening yourself up to other options(Valuation, Big 4, MO, etc.) to get your foot in the door and not stay long enough to be branded officially as a teller(1 year+), which would be the kiss of death to your FO dreams barring an MBA.
I graduated in December 2013. What kind of caliber MSF programs would be realistic? Unfortunately, I do not have a ton of money to waste on a MSF program. It would be horrible to spend all the money on a program and end up at another local retail branch. Thanks for the hope btw.
You do know that job only requires a GED? Needless to say (hopefully), keep it off your resume.
At least get an ops or pwm position at a BB, then try to get into a target MSF.
I know:( I was always under the impression it was better to put a job on a resume, no matter how menial, rather than have a large gap in employment. Wouldn't an employer respect someone who was working to support themselves while they look for a better job?
I'm not kidding when I say bartending. Lots of industry guys have done it in their past, myself included, and after 15+ years we don't instantly place if we did it during college, for a few months after or whenever. And if your contact or the hiring guy isn't a spooner, you'll have a connection. I don't disparage anyone who's a teller but that's something someone can look down upon. Everyone likes and romanticises bartending (blame it on most senior people being alive when Cocktails the movie came out). You will make more money than $12/hr and have more day time hours to network, apply, etc for what you want to do. And I believe ACA allows you to stay on your parents health insurance until you're 25.
100% wasting your time working as a teller. There are so many other part time gigs that will pay the same that won't look actually stupid.
Get a job bartending to keep some cash flowing and give yourself time to network yourself into another job. You'll make more money and give yourself more time to meet people, interview, etc. and if you're in a major metro area and can score a bartending gig at a better place you can meet people at work and you don't have to put that on your resume.
How hard is it to get a bartending gig? I know absolutely nothing about it haha.
Definitely an interesting angle. I'll have to look into the whole bartending thing. I am not sure if my resume is good enough to land any high finance jobs, so I might have to consider the MSF thing also.
Remember that you arent forced to put anything on your resume. Use the internal directory to network like these guys have already said, maybe try to get into an ops position with the firm.
All it takes is meeting the right person, making them like you, and they eventually will get you a job. Like you said keep grinding.
Does anyone know what are some target MSF programs? I do not have a background in advanced math, so I would prefer one that is not geared towards engineer types. If it came down to it though, I could take additional math classes because I have never had a problem with math (just never needed high levels for my degree).
You have it pretty good. I wouldn't worry.
I guess in the scheme of life I really do; I could be starving or a solider fighting in WWII. I am not one to be super greedy, but it would be nice to have a career path with some sort of upward mobility that will allow me to make enough money to have a decent lifestyle. If I do well, I would love to give a large chunk of my earnings to good causes.
wow.. sorry to hear about your situation. I can't believe that with your credentials (3.9 gpa in finance, good internships, etc) you ended up at a bank teller retail position.
I know a ton of idiots with horrible work ethic and mediocre credentials that got ok corporate jobs, such as big4 accounting, operations at an i-bank, pwm, sales at F500, IT consulting at Accenture, etc etc.
if I were you, I would hold the IB dream on hold and just try to get an ok 'corporate' job, from which you can learn some decent skills and get into a good mba program down the road.
anyway, best of luck to you.
Yeah I too know people who went to far worse schools than me, got worse grades, and had less work experience, end up in decent IB and asset funds. I am just worried that poor work experience will set me up for a low tier MBA (which I have heard are absolutely pointless).
You seem like a cool guy, just PM'ed you with some info of options in WA.
UDub? I worked with a guy from there at an repe firm out of college in SF. Seattle is about as far away from me and my network as possible but I have a few friends there in tech and law. I may be a bit drunk and that's why I'm saying this but feel free to PM me and I can steer you to a few people. I know people at msft, amzn, a few law firms and in advertising/marketing firms. Can't promise and I'd like to see your resume but you can't be a teller with a decent finance degree.
Don't give up OP. You seem to be a good guy with good experiences. I like the fact that you're trying to stay upbeat about your situation and open to suggestions. I'm not as experienced in the industry as some of the guys who have posted above but feel free to PM me anytime and I'll try my level best to help you in any way I can. Meanwhile, keep grinding and working towards your goal.
Shucks man, I might take you up on your offer. But yeah, just gotta stay upbeat. As much as I want to have a better job, I am still thankful to have something when so many people are homeless or suffer in other ways. Pretty crazy to think about.
Definitely. Always good to keep things in perspective as you're striving to better yourself and your career
I totally forgot, no Seahawk fans need apply :)
I think we all know the Seahawks are gonna have a banger team next year ;)
Bill Ackman once hired a fishing guide. You'll be okay my man.
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OP, these are all great suggestions by the community. Spinning your current experience is necessary. However, there maybe something of greater importance that you may need to examine.
I think you need to understand why you don't have a position relative to your intelligence. On paper you seem like a smart guy, which leads me to believe that you may not interview well.
Interviewing is a skill just like anything else. The entire process is an unnatural interaction, which as you may know, that could involve lots of awkward questions. The more you practice, the better you get.
Or I could be completely wrong and you could be one of the unluckiest job applicants ever. Although, if the problem is your interviewing ability, it will only serve as a botteneck for future networking or even post MSF opportunities (if you decide to get one).
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