In my early 30s with no direction
I wanted to reach out to this community to possibly help me get better situated with my current position. I am so lost at this point and would really appreciate some feedback from the more successful individuals from this community. I have recently discovered the WSO website and it has been a great source of material to read through but to be honest it has made me even more depressed.
Where do I begin. I am in my very early 30’s and wasted my 20s away. I could have gone to school and completed my degree but I had no desire or motivation to finish. Now in my 30s I decided that better late than never so I enrolled in a program. I will be done soon and am on track to graduate spring next year with a very high GPA. The program that I am doing right now is from a California state university and it’s a BS in business administration with a finance concentration, but I have no clue as to what I can do as a career. I feel as if I am way too old to do an internship at this level, would they even consider someone my age. I have worked in retail banking before, tried to sell insurance but was not very successful and the job that I had prior to this program was an entry level position at a law firm.
I would welcome an opportunity to do some type of a rotational program that spans over 2 or 3 years but opportunities are very limited and I need a job ASAP. I also have a lot of debt that has been eating at me for some time so getting a job soon is something that I really need to do.
I have been reading on here that software sales pay good money and to be honest good money to me is anything above 75k at this point. I would love to work in wealth management or private equity but I feel like I am just something that they are not looking for. I just feel lost and hopeless. I wanted to complete a degree to help me better my future and the future of my family but I just think that I waited too long.
The more I think about my options the more it comes back to some type of a sales role. I don’t think I would mind doing sales as long as it’s for a good company that pays well and has some sort of a lead system. Cold approaching is not something that I want to do day in and day out but I would really like to know what my options are before hanging up the towel and just taking a regular job.
I read posts from individuals complaining about making 150k a year and think to myself that I would switch with them in a heartbeat. It just doesn’t feel good at all to see that and wonder if I will ever get to that level. What recommendations do you guys have, I would love to hear any feedback!
Based on the information you provided I think software/technology sales could be a good fit for you if you're personable. You could definitely get hired with your degree and potentially make six figures within a few years if you're good at it. Some companies churn through salespeople and make you cold call all day but there are definitely companies out there that take care of their salespeople.
You should post your resume on the boards here removing your name and other obvious identity get featured and let the people help you revise it if you haven’t done so already.
A good resume can get your foot in the door at a larger array of opportunities which then you can research and determine what you want to do. Since you need a job fast and are unsure what you want to do, I think you may be looking at this the wrong way. Instead of sitting around and trying to determine what you want to do, why don’t you mass apply in industries your interested in and then see where there’s interest on both sides.
Let me be honest then offer some words of advice. IB, PE, AM etc. rewards those people who were not wasting their 20s. You are undoubtedly facing an uphill battle and your chances of entering wealth management or PE is about 0 unless you can sell yourself extremely well through networking. I think you will be happier if you come to the realization that a job won't make you happy in an of itself. Right now I would say this: utilize whatever networking you schooling/program has, have your resume reviewed on here, reach out to people who have gotten jobs you are interested in and are from an atypical background like yourself if you can find anyone, and most importantly be persistent.
Thank you all for the replies I did come to the conclusion that anything IB or PE, AM related is probably out of the question for me at this point. I guess my next step would be to improve my resume and figure out a field that I can enter that has an opportunity for growth. I think the recommendations from you all are great and I will begin to mass apply and work on my resume. Reaching out to my school would also be a good option. At least I will see if they have any opportunities or suggestions.
Have you considered commercial banking? It is much easier to break into than IBD and the pay is decent. Over the long-term, it would provide you with very interesting advancement and salary opportunities while maintaining a good work-life balance.
I do agree with the comments above that it will be much harder for you to break into finance at such a late age. But it does not mean it's impossible. Work on your resume (make it clean, concise, efficient, and centered around your strengths and experiences) and start to develop your network and try to connect with mid-level commercial bankers (or whatever profession you decide to choose) through Linkedin. Look into possible recruiting events and try to make meaningful connections with people. Try to show off your age as a signal of your life experience and maturity. And use your high GPA to your advantage in your resume.
Do not forget that it's all about marketing yourself. You do have weaknesses (namely the fact that you are older than standard candidates), but try to turn them into strengths as much as possible. Good luck with everything!
I'll piggy back on Bill here - if you haven't, I'd strongly consider Commercial Banking. While it varies from bank to bank, at it's heart it's generally the same. You help companies (mostly private or the public companies that probably should be private) with working capital loans, treasury management, and other finance issues.
Don't be so hard on yourself. I have a similar story to yours - I spent a few years in college right after high school, mainly drinking and smoking. To my surprise, they kicked me out for that - the nerve! I went into the military and long story short, I didn't finish my undergrad until I was 30. Like you, IB, PE, HF all have an allure that would have been nice to know about when I was young and dumb. While cold calling MD's, I was introduced to a commercial banker and found out that it was a really good fit. At my particular bank (a BB), I'll spend 2ish years in an analyst training program and then it's off to pursue a path on either the credit or sales side.
Being older gives you certain advantages that the fresh college grads don't have. For one, you can relate better to managers and will likely have a stronger relationship with the people that make the bonus and promotion decisions. Secondly, and probably more importantly if you want to go the sales route (called a relationship manager for commercial banking), you can relate better to clients. CFOs and Directors of companies don't want to trust $50 million decisions to a 25 year old kid. Being 30-35 at this point gives you a level of authenticity that is valued by companies, even if you have the same finance experience as that 25 year old kid.
If you decide that commercial banking is something you want to explore, the best advice I have is to connect with a commercial bank near your location. Get a lunch meeting where you can learn more about what they do.
Feel free to PM for more info. Good luck.
John,
Thank you for this, I will PM you.
Major co-sign with this. Just about every lending job wants you to go to a bank rotational training program (which are basically only existent right out of grad school or undergrad, but probably more skewed to undergrad). After a 2 year training period, I'd imagine you can go work for a ton of credit funds at which I'm sure you'll easily be pulling in $75k.
Barring that though, just about every F500 has a rotational program. Literally just pull up the list (maybe start somewhere in the middle or the 300s), and go to their jobs website. I guarantee you most (if not all) have rotational programs for fresh grads in sales, marketing, finance, operations, etc. Age doesn't matter here, and you being older will probably be a positive since most 22-24 year old kids tend to bounce after these programs anyway or go to grad school.
At this point, you still have a little time, and I wouldn't rush it since you aren't even finished with your degree yet. Honestly, I think you need to take a hard look at your resume and mass apply. If you apply to 200 roles you're qualified for and no one responds, you've got an entirely different problem.
Like the username!
You know that is not something that I had considered until now but I think it will be a good fit for me. I will look around and see what is available. I do have a few questions.
What are the typical weekly hours for an entry level position? What about pay?
I think at this point it will be one of the better options for me. I do like your approach of not being negative about my current position. I do have a lot of life and work experience that can relate to older business people and I am also very client oriented. I will work on my resume and make the necessary adjustments to stand out more.
Thank you for taking the time to respond to my posting!
If you aren't sure what exactly you want to do but have an idea about roles that potentially might be interesting, find some alumni that work in those roles and ask if you can grab coffee with them. You'll get more of an inside scoop about what the day to day is like and you can start to refine what roles you want to focus on. You really don't want to be the guy that spams his resume to every possible role across tons of different industries as it makes preparing for interviews a total nightmare and also makes interviewing well much more difficult. I'm not saying you shouldn't apply to a lot of roles (you should), but I am saying you should at least narrow it to a few different areas.
"I would really like to know what my options are before hanging up the towel and just taking a regular job."
I would also caution you against this mindset - your first job is never your last one, and there are definitely some people who zigzag a lot in their careers. Obviously if you find you are really interested in something, it's better to start off in that general area, but it is not uncommon for people to do total 180s from their first job out of college. One of my best friends started off as a bioengineer and now does consulting for industrial companies. Another was a big law lawyer and now teaches 3rd graders. Another one worked in F500 strategy and product roles, said F it, went to code camp, and now is a software engineer for a startup.
Software sales is actually not a bad place at all to start out, but it can be very company (and sometimes business unit) dependent. The good thing is that sales skills transfer pretty well. At the junior level, it's not going to be the most intellectually stimulating job, but TBH, most junior jobs aren't either (in IB, you can go weeks at a time without needing to really think about anything and just process other people's thought's onto paper).
You are completely right. My next job does not have to be my last job but the main thing that I want from it is to make me better and help me grow. I do want to end up somewhere that rewards hard work financially.
And thank you for sharing those stories with me. It goes to show you that your life is really up to you and if you want to make a change you have to take action. I think finding a job that makes you feel happy should be something that we all should consider, as making money can only make you happy to an extent. I will keep looking for opportunities in the mean time and see what I come across.
Thank you for your response!
Have you looked into commercial real estate? A background like that could work just fine. I know tons of people at my firm (a top shop) that didn't finish college/ get into the work force til after 30. I wouldn't say they do well compared to the people that jumped in right at 22, but it's a gray hair game, and being in your 30s would give you a leg up over someone that's 23.
This is also a good option that I had not considered.
How is the pay structure in a role like this? Is it flat commission or is there a base salary plus commission. Also, are you completely on your own or do they share leads with you, assuming you are in an entry position?
I think having work experience and life experience will surely put me ahead of someone younger. Also, working with business people is something that I do enjoy so I think it would be worth a shot.
Thank you for your reply!
At the end of the day, it's purely commission and will be 100% based on what you do, but.......
A lot of people do work on teams where everyone is intended to pull their weight (bring equal amount of deals), and firms sometimes pay a draw (salary advanced from your commissions).
Pay is pretty low at the start though.
It's better to have no direction than the wrong direction.
PM’d you a list of leadership development programs. I also suggest looking into corporate or commercial banking.
Your first problem; going on the internet and hoping strangers will give you life advice. My god man, get it together.
Well I guess in a way that is what I have been doing. I am referring to your "get it together" comment. What is wrong with asking people for help? Isn't that the purpose of this online community? I am open to any suggestions or comments, so I do appreciate your input. And you are right. I do need to get it together. That is what I have been doing since I decided to go back to school and turn my life around for the better. In doing so I am open to any and all criticism. We cant truly progress unless we open ourselves to criticism. But since you decided to comment on here, and it seems like you do participate in this online community, what advice do you have for me, or perhaps someone else who is going to read this posting?
That guy is a leech that only looks to benefit from this platform without giving back or helping anyone else along the way. Not worth your time at all. Providing a place for users to exchange advice with one another anonymously is one of the most valuable features of WSO and a large reason why it has been successful IMO. He hasn't figured that out yet.
As a current student, I have prepared myself for the job market alongside some older students like yourself. There's definitely a stigma and a certain level of ageism that exists among "typical" 18-22 year-old undergrad students. But I think for the most part, the older students I've gotten to know are far more interesting than people my age. They tend to have more experience (although sometimes not relevant to finance in a clear, direct way), know how to hold a conversation better, and have had more time to figure out where they stand on a variety of issues. These are all things that can help you tremendously in interviews and set you apart from the typical candidate. It's not a bad thing by default that you are older than a lot of your classmates.
So, from what I've seen, if you work your ass off, take pride in who you are (which is so much more than your age), keep your eyes open for opportunities, and jump on them when they come, you have a much greater chance at landing a desirable job. Best of luck.
If you have a high GPA wealth management should not be out of the question at all. You would need to start from the bottom and work your way up. Also, look into IB, it is doable for you assuming you are willing to work the hours. Just stay positive, have friends, family and professors review your resume and start applying them out.
Thank you for the optimism and sharing the fact that it is doable at an older age. One of the reasons why I am reluctant to take another sales role is that I feel like it makes me less employable in other fields or roles. What I mean is that if I end up taking an entry level analyst role in any company or a rotational program I can always go the sales route later on, if I see it being a better fit. But if I take a sales role now then I will have to start from the bottom if I choose to go after a non-sales position. Does that make sense?
Is my thinking wrong here?
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