How to break in to S&T from this point
Hi Guys,
I am currently a graduating senior at a non-target with a double major in Finance and Economics. Its been a goal of mine to break into S&T. I know recruiting is all over and I am getting desperate. I have been applying to other finance positions just so I have a full-time spot for when I graduate.
My question is what can I do from this point to eventually get into S&T? I know the immense amount of networking that I will need to do, I mean more along the lines of how I can further improve my resume to really boost my chances.
I attached a copy of my resume. Any critiques or advice would be really appreciated.
| Attachment | Size |
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| My Resume.pdf 70.33 KB | 70.33 KB |
This is a great resume. If I were you, I would reach out to trade orgs, your alumni org and also don't be afraid to email people on LinkedIn who went to your school, esp. people at MD/VP/SVP level who may have some pull.
Thanks for the response. Trust me, I have sent out over 100 cold emails, spoke to family members in the business, and alumni network. I have had a few informationals and all I have heard is were currently not looking for full-time analysts. I even tried to push into SA programs to prove my worth, but wasn't given the opportunity. I am thinking is it worth applying to trading assistant positions or other finance positions (another treasury position or FP&A) or do you think I should still keep on pushing for a S&T position. I have been applying and networking since August, its tough out there.
Yes you should be willing to take trading assistant roles and push for those as the barrier is not as high and may be a way in. Just get in the door someplace and work from there.
100? I sent out over 600+ cold emails until someone forwarded my resume and got the offer. And this was for SA.
Its to late for s&t right now but get a somewhat relatable job or do another major.
Since analyst hiring is pretty much done I would look into smaller firms that do not have a structured recruiting and training program. You will miss out on the great training that BB firms offer but it should be a little easier to find your way onto a desk
I second this. Smaller firms will be beneficial as well in that they won't have the cookie cutter training at BB's, but will however offer the ability to see more of "everything" and do more faster.
I started looking at smaller firms as well, the ones that I found for the most part required atleast a year of S&T experience. I am going to keep looking and applying though, hopefully one of these smaller firms will get back to me. Thanks for the responses guys, I really appreciate it.
Have you reached to people at the firms? Getting any responses? I know a lot of these firms don't usually have job postings and go for experienced hires (eat-what-you-kill environment). If you can network your way in and let them know you want to come in at the junior level/assistant on the desk you could get some chances. This of course is if you are a normal, well liked person as well.
edit: Another thing, try to focus on either sales or trading and specific product if you can. Much easier to reach out to people with a focus and not completely scattered all over the place. How "non-target" was your school?
If you guys have any firms in mind that you think I should look at, please send them over; would be a huge help!
Somewhat off topic, but in your interests - "Overall returns of 17% over three months" - what does that mean? "Overall" implies ongoing, but since the program is more than a year, why not use effective annual? The "over three months" implies you only did it for 3 months.... Kind of nitpicking details, but every little thing counts.
@Bobb, In terms of specific products, I am more knowledgable in FX and thats what I have been trying to focus on. I preferably would like to be on the sales side and that has been the way I have been directing my emails but, a lot of the programs are more broad based. I honestly email guys on whatever I can find just to get my foot in the door regardless of product or whether its sales or trading. In terms of how Non-Target my school is, I don't really mind saying it on here; I go to Stony Brook University in NY. Not known at all for its Business program, but the Economics program has been ranked 34th in the nation.
@Woodywoodford, Thanks for the tip. You are right I should change that up, although my overall yearly returns won't look as pretty.
I know a lot of people who went to Stony Brook, unfortunately none of them were in finance. How is your success rate on the cold emails?
If i were to put a number to it, id say 1 in every 20 answer initially. When I go to follow up I would say 1 of the 5 that answered replied and actually forwarded my resume. I ended up getting a final round at blackrock for their institutional pensions team but ended up not getting it :/
I also had an informational interview at MS for their FI S&T Analyst Program but, all they really said was "although we like your resume, were currently full, we filled all our spots from our summer programs."
Are you a swing trader or day trader with currencies? I know PNC has a small FX group but when I went in for an interview it was me against another guy with more years of experience. I obviously didn't get the gig but I was told by many of the FX guys that not many people come interviewing and if I was interested, they would let me know if a junior guy leaves. I would take out the part on your resume where it states relevant coursework, most companies can see from your transcript what courses you took. Put the other things like bloomberg, etc and state your knowledge level. i.e. Microsoft Suite - Highly proficient Bloomberg - Fully licensed Blahblah - proficient
We trade on a hold basis. Our treasury department hedges fx for their balance sheet on a monthly basis. the hedging is based on sales forecasts from our affiliates. Some contracts are held out for a few months and some for just 1.
As per my resume, if you dont mind, do you think you can message me a copy of yours? I am curious as to what you have listed under your knowledge level and how you have it structured. Thanks for the help.
Have you tried reaching out to the sales guys who cover your group? They should be at very least willing to talk.
Is their an option to go full-time at your current internship?
If you really want to do FX sales you could look into one of those online currency brokerages (FXCM). It would be all retail, but might be a good way to get some sales experience and try to move on after a year.
Times are tough in S&T and a lot of people are looking for work. The best advice that I have gotten is to do something else relevant and stay on the radar.
Just as an update, was able to receive an offer for a Finance Rotation Program at F500. Well see where this takes me.
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