Pivoting into Finance - Trying to stay in Richmond, VA
I am currently an active duty officer who will be transitioning out of the military to finance next year. I am enrolled in Georgetown's MSF program starting this fall. I am attempting to pivot into finance, with the short-term goal of associate and mid-term goal of getting into Private Equity. The largest constraint is my wife's job in Richmond, VA and her career will always be in Richmond due to its nature in state politics. I'm wondering: what is the best way to break into finance in a middle market city?
Richmond has its fair share of investment banks (Harris/Williams, Matrix) and Private Equity firms (Boxwood Capital, Blue Heron) that are middle market firms. An issue I am running into though is my lack of experience in the finance sector, hence why smaller firms are less willing to take a chance on me to train me up as an associate. There are bulge brackets banks in Richmond, but all of their associate programs occur in NYC, Atlanta, and San Francisco.
Just looking for general recommendations on breaking into investment banking/private equity in a middle market city.
Thanks!
Richmond is definitely going to be tougher just because of the size. Most people are willing to get coffee or talk on the phone, but its definitely a numbers game. Blue Heron doesn't have any junior people that I am aware of and Boxwood has been pretty quiet the last couple of years. As for investment banks, there is Harris Williams, BB&T, Matrix Capital, Marriott & Co, Ziegler, and Dickinson Williams. If you are set on staying in Richmond, there are plenty of corporate finance, wealth/Asset Management, equity research, commercial banking etc. positions to consider. A few other companies to consider would be Private Advisors and Davenport & Co.
Thanks for the advice!
Put Cary Street Partners on your radar, too.
Cary Street Partners certainly is on my radar for IB, especially with their latest acquisition of the Breckenridge Group in ATL. Thanks!
I can't speak to Richmond specifically, but your goal of being an associate coming out of an MSF seems a bit ambitious. From the other MSF programs that I know, graduates are always placed into analyst roles, with MBAs placed into associate roles. This would be worth checking with Georgetown's MSF career placement office.
Beyond this, I'd echo what the other guys said - spread your net wide and network as much as you can. People in smaller cities seem more willing to take the time to help you out, especially if you have a good story for the location.
I'm curious, what in your experience has differentiated an MSF grad vs an MBA grad? School Name? Work Experience? or is it sector of the job, as in IB or AM?
Thanks!
It's work experience/age, essentially. The typical MSF student, from what I've seen, is probably 23-24 with no managerial experience, whereas a typical MBA grad is 28-30 and has had some managerial experience. You may be in a different boat than the typical MSF student, but most employers seem to consider an MSF to be a career-launching degree. Hope that helps!
Richmond, a good place to start (Originally Posted: 04/30/2007)
I graduated in 06 from Virginia Tech and just got a job in richmond working for wachovia, I was wandering if this is a good place to start. Can i move up to newyork in a couple of years. i looked at newyork during college but my gpa was to low 2.6(i know its low). or will i be stuck in Va for ever. Is there anything I can do any advice.
what are you doing at Wachovia?
Hey, I'm a Hokie class of '03 and work in Midtown right now, in an I-Bank. You can definitely do it. Depends what you're doing right now. The name of the game is networking. Cliched but true.
Are you going to be a financial advisor? Your profile says private equity..
Either way, I know an alumnus who started out like you.
Very-low GPA, started out in Wachovia in some totally unrelated business segment (just assumed for you). Point is, he bounced around different areas of Wachovia (can't remember whether this actually included any IB or not) for a about 4 or 5 years then made it into UVA for business school. He'll be starting at Citigroup this year in IB.
Your chances are slim, no doubt, but hard work and determination can move you in the right direction.
If your interested, PM me and I will try to dig up his contact information.
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