Entry level job search

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Reggie's picture

Simply out of curiosity, I was wondering how many resumes you threw out before you were able to find your first job - given you had no network connections? Is there any number that is excessive?

itera's picture

depends. some people apply to everything remotely related to finance.

Probably a better metric is the % of call backs you get from all the resumes you threw out.
5-10% call back is poor
30%+ call back is considered good

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

Reggie's picture

An entry level finance job applicant getting a 30% call back, especially in this market? I would say ‘good’ is an understatement. Is this what it was like when you were first applying for jobs iteracom?

I’m applying to any finance firms I can find around my city. I wasn’t too sure what to expect but I’ve been lucky enough to hear back from a few of them. I thought my resume was decent but I’d say I’m getting around 5% of the firms extending interview offers.

supersadface.migrated's picture

Reggie, just mailing/e-mailing out resumes cold is going to be really, really tough in this market. Have you tried using your school’s alumni network? Family or friends who know anyone in the business, even if it’s just to sit down for a cup of coffee and a sandwich and talk about what the heck it is you’re looking to do?

Literally almost anything would yield higher results than sending out resume’s “cold”.

Reggie's picture

Thanks for your input, as well, supersadface. I won’t be back in my country until 2 more weeks so I’m using this ‘cold’ sending method, for now, to hopefully set up some interviews by the time I get home. If it doesn’t yield anything I’ll most likely dip into my school’s alumni network. Thanks again

Black Swan's picture

Dude, I just built a quality resume, then bombarded it to every remotely related opportunity through every online source I could find. I’m talking hundreds. Like it was my full time job. Granted, I had a very crappy GPA from a pretty bad school, so I was a bottom of the barrel candidate. Situation’s different now, but frankly I did what I had to do, and I got it done.

redacted

itera's picture

yes

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

Canadian_Accountant's picture

iteracom Wrote:
——————————————————-
> Probably a better metric is the % of call backs
> you get from all the resumes you threw out.
> 5-10% call back is poor
> 30%+ call back is considered good

I would kill for 5-10% callback lol

: (

Palantir's picture

i tried for temp jobs. and was made FT. If nothing else, try to at least land an unpaid, temp role.

Not all men were meant to dance with dragons.

Reggie's picture

Thanks Palantir, and Blackswan that is exactly how I’ve been approaching the situation over the past couple weeks. I’m glad to hear I’m not the only one.

magicskyfairy's picture

iteracom Wrote:
——————————————————-
> depends. some people apply to everything remotely
> related to finance.
>
> Probably a better metric is the % of call backs
> you get from all the resumes you threw out.
> 5-10% call back is poor
> 30%+ call back is considered good

LOL I would have killed for a 5-10% callback! I spammed every company out there, and heard back from squat! good riddance! Starting mba in less than a month!

lxwarr30's picture

Honestly, I’m feeling like the only way to really break in without prior experience or connections is going through schools. I know Black Swan did the MSF and I’m not sure what he was doing before that, but he mentioned it helped. MagicSky is doing the MBA. I’m not saying this is the ONLY route, but if you have a few sections of the CFA behind you and go back for even a 1 year masters at a good school it could really make the difference. Obviously this requires 1) money 2) time and is not an option for everyone. I’m working as a temp in a F500 that isn’t financial services, but they’re slowly letting me work more into their corporate strategy department. Not investing, but hell it’s more interesting.

It took me 6 months to get this position after graduating from college last year. It’s difficult because you’re probably a really bright guy, but just realize that having a job outside of financial services to start won’t kill you. You’re young and people understand the market is tough (or at least I hope) so if you can work at a good company and do something noteworthy there maybe someone will give you shot after a level or two. This is my hope at least. If not the GMAT and a MSF is always an option. I say all of this to give you some ideas of the directions I am taking toward my dream job and show you are not alone. Maybe someone here who is older will be able to give us their take on people in our position who do not land a job at a BB right out of college.

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