If you saw my previous post, you know that I interviewed for an executive assistant role with Fitch today. It’s definately not the career I want to pursue, but it’s a foot in the door so to speak. Anyways, I want to get into the industry somehow, anyhow. My resume has what I think is an impressive list of accomplishments, none of which are financial in nature. I worked closely with a REIT for two years and a hedge fund (marketing equity shares of a project) but I don’t have a history in the industry. I am studying for the CFA, but that won’t be of any use until at the very least I pass L1, and even then, it won’t be hugely beneficial. I’d love to work for a big firm - GS or J.P. Morgan or Blackrock or some big hedge fund or P/E firm. Even if it’s interning for little pay 70 hours a week, that’s okay. I need a foot in the door and a big name to put on my resume (and B-school application in the future) but I am having trouble coming across said positions. I’ve heard that there are rotational analyst or project management jobs out there that may not require a strong financial background but I am having a tough time finding them. So my question(s) to all you experts is: I.) What kind of jobs can someone with little financial experience get (I can post my resume if necessary)?
II.) With few contacts in the city, how can I go about networking and meeting people?
III.) Presumably, I’ll be going up against well heeled individuals - how do I stand out from the crowd? Thank you for any and all help!
The best way to break into finance is to have a dad that can get you an entry-level job at a prestigious bank. The second best way is to attend a fancy undergraduate business school and get a job through on-campus recruiting. The third best way is to attend a fancy MBA school and get a job through on-campus recruiting. All of the other routes are pretty difficult.
Did they tell you what you’re responsibilities would be? If it’s organizing calendars, booking flights, submitting expense reports, scanning business cards, making coffee etc (those are things our EA’s do for us)…then I would pass if you’re really trying to get into the industry, especially a big name. EA is not going to be very beneficial if you are interested in what you said above. .I mean, you’d be a secretary. You should hold out for a back office position at a big administrator or something…that cant be too hard to get for someone with a liberal arts degree.
Yeah, that would pretty much be the extent of it. Not glamorous and not something I’d like to do as a career. I have pressing reasons why though - an immigrant wife who will not be able to stay unless I get a job soon. What kind of back office jobs are you talking about?
Like data entry type stuff. I get the whole thing about needing a job soon for your wife, but EA might hurt more than help. It would be hard to get anything after spending time doing that.
There are all sorts of specialists and processors and administrators on the back end of any wealth management organization. See who operates in your area, determine how much shit you’re willing to shovel for $42K a year, and then bust your ass because anyone with some talent will look amazing in those roles. You’re not going to Harvard or Wharton out of there, but there are opportunities to advance into leadership type roles, and there is a lot of exposure to the front office depending on the specific function. It’s not easy, but it’s possible, and without great genetics or a great academic pedigree, it never was going to be.
I won’t be looking at grad school for at least four years, so I’m not terribly worried about not having a glamorous position right away. I will have to look into those back end positions. Thank you for the advice.
Theoretically, yes. . Problem is that prestigious AM firms don’t hire random people for entry-level finance jobs. . They recruit at top undergraduate business schools. (And they hire MD’s kids.) . If you have a hot skill like Java maybe you could worm your way into a developer role. But entry level finance – Unlikely.
I meant that as an appendage to “have your daddy get you a job at a pretigious bank.” Obviously randos aren’t going to walk in the front door at Bridgewater and expect to find a job.
I took the difficult route. Psychology degree, random work in China, hacksaw MBA. Got a rotational program at a large wealth manager, and impressed enough people to transition into the Asset Management side of the business. Currently buy side analyst in a $2bn fund.
If i had known all along this is what I’d wanted to do, I could have done a good business undergrad and saved myself years.