Recent-ish Graduate looking to break into ER
I have been out of my undergrad for about a year now (Spring 2019 Grad) with a bachelors in Finance and have been working in operations at an E&P energy firm in Texas. I have 2 different internships under my belt from undergrad, one in accounting and another in operations (thus led me on my current path), and my current role that I've been in for the past year. Both were at F500 companies as well. I really want to break into ER and have been applying to many entry level roles and different banks/firms with no avail. I know the route that a lot of people take to break into banking is to get into a top MBA program, however I am only a year out of undergrad and I don't think its worth me going back to school until maybe 3-4 years from now. I am really wanting to go into the TMT sector, but understand with my current experience I should start in NatRes. Is it possible to change sectors once I have my foot in the door? Any tips or advice would be greatly appreciated! Thank you guys in advance!
I know the route that a lot of people take to break into banking is to get into a top MBA program, however I am only a year out of undergrad and I don't think its worth me going back to school until maybe 3-4 years from now. - This is the correct instinct. With only 1 year of experience, it'll be tough to break into a worthwhile MBA. Besides, with any luck, if you break into ER and play your cards right, you may not have to ever bother with an MBA.
I am really wanting to go into the TMT sector, but understand with my current experience I should start in NatRes. - Normally this would be a definite 'yes'. But the energy sector has gotten pummeled (negative oil anyone?) and that could lead to teams not hiring. There's always exceptions, but if the market cap isn't there, it makes it harder to bring in the revenue as an analyst. - TMT is a pretty competitive sector to get into, but given you're pretty young and junior, if you can distinguish yourself in an interview with your pitches and general speech/writing/modeling skills, you can still have a chance. Prepping pitches on some large cap TMT companies and using those as part of your application could possibly help here.
Is it possible to change sectors once I have my foot in the door? - Yes. I've seen people make huge changes. From covering consumer to healthcare or even FIG to E&P. There's a shortage of good talent (i.e. people who understand the business of equity research) and once you get your foot in the door, you can make a switch. Of course this will still be easier to do when you're a more junior associate since you'll still be cheaper at that point.
Best of luck.
Thanks so much for the advice! Should I continue applying to the different equity research analyst/associate roles that I come across? Also, do you know of any ER development programs or specific banks that I would have a better chance of breaking into?
Should I continue applying to the different equity research analyst/associate roles that I come across? - The online applications can work, but I would apply to a handful each time to gauge the response to your resume. This is probably important for someone like you with no experience in the field as it gives you the opportunity to tweak your resume as you go through the process. To this end, make sure you get somebody in the industry to review your resume to improve your chances of getting an interview somewhere - Separately, you'll get a far better chance if you can network through alumni or any other relevant connection with people at a given firm. The difference is being drowned out by hundreds of other resumes or having someone in the firm personally email a resume to the hiring analyst. Suffice it to say, the latter greatly increases your chances.
Also, do you know of any ER development programs or specific banks that I would have a better chance of breaking into? - For someone with minimal experience, you probably will have a better shot at a boutique, all else equal. But don't read too much into this as I've seen people without any ER experience, but a solid overall profile, break directly into top firms and top teams.
I wouldn’t laser focus on ER. Personally I had to take two other finance.jobs after my first career before getting to ER. Moving towards ERwithout getting there is likely a step in the right direction.
Deserunt ducimus eos eius ea aut fugit sed. Modi tempora iusto voluptatibus aut ut et libero. Vel dolore molestiae nobis. Accusamus omnis voluptate enim est consequatur expedita. Laboriosam magnam voluptatem quasi ea. Atque qui aut distinctio vitae enim accusamus.
Fuga facere quibusdam aut sit quis. Ut optio sed incidunt.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...