What's my chance
I have a bad GPA of 2.9, and majored in economics from UC Berkeley.
But I also took an accounting class, and am fluent in interpretting and extracting information off the major financial statements such as balance sheets.
I also took a one month seminar from Investment Banking Institute (ibtraining.com), where I learned to perform corporate valuation typically done by a first year analyst. I can build M&A, and leverage buyout model, as well as valuing companies using discount cash flow and trade comps.
From the same seminar, I've also developed proficiencies in Excel.
My work experience to date has nothing to do with finance at all. I worked a year in Asia, and speak fluent Mandarin Chinese.
My extracurricular is playing GO (Chinese chess), and practicing Kendo.
What's my chance of landing an equity research type of job given my poor GPA? Should I even bother applying?
There is one thing I learned from my job search. And that thing is: Network. Because if you are king of the world, there will be 1000 other kings of the world applying for the same job. I don't know anything really about recruiting, and this is only my imho, but: You won't get past HR with a GPA like this, so you need somebody within the bank to get you right to the interviews.
I want to work now! No, really. I want those 100+ hours/week.
What year are you? You mentioned you are looking for an equity research "job." Are you a senior?
I am 25 years old, and have graduated from university two years ago. I am looking for a position in equity research.
So you are fluent in Mandarin? That's impressive given your one-year stay in China. Can you also read and write in Mmandarin? I would definitely try to utilize that to your advantage, and focus on that skill as a way in. Equity research is different than IB, however, and I know very little about the emerging market in China, but I would imagine that many of the BB firms would love to capitalize on a Westerner (I am assuming you are either an American/foreigner who isn't a native speaker, or a second generation Chinese/American who also isn't a native speaker) with finance skills, as well as Mandarin capabilities.
The best way in for you would be to network. Try joining any analyst clubs you can (i.e., CFA institute association in your area, a local investment analyst association, an investment club, etc.), to meet people who may already be in the industry and get them to pass on your resume to anyone and everyone. Learn everything you can about investment research, and, if you have the time, try to sign up for the CFA exam, although that is a big commitment.
It is almost as hard to break into equity research as it is investment banking, so keep your head down and keep trying if this is what you think you really want to do with your life.
Thanks for your response. It was helpful.
Just to clarify, I am a Taiwanese, and was raised there for the first ten years of my life before I immigrated to the states, therefore I still retained all my Chinese. Yes, I am fluent in spoken and written Mandarin Chinese.
My grade is pretty bad (2.9/4.0), but I am sitting in the CFA level I exam in June 2008. If I pass that exam (which I am sure I will because I actually have been preparing for it for about three month now, and still has six more month to do that), will that somewhat compensate for my bad GPA?
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