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Advice for a jobless Finance major since one year after graduation? - Page 2

post #16 of 63
Thread Starter 
Quote:
Originally Posted by NAMOR View Post
Have you considered tax? I graduated two years ago with a Major in Managerial Economics and a minor in Accounting and was able to find a job in Multistate Tax. A lot of the issue we work on (unity, instant unity, nexus) straddle the IB hemisphere.

I have applied for a few jobs that focused on tax. However, I have not really had any tax-related coursework other than what is normal for finance majors, which was mainly managing taxes throughout a project when calculating NVP.
I really do not know if my interests lie within that field without doing more research about it.
post #17 of 63
The world needs ditchdiggers too
post #18 of 63
Thread Starter 
Quote:
Originally Posted by Pennglock View Post
The world needs ditchdiggers too

Unfortunately this would require me to obtain a degree in Genetics with a specialization in Cloning. Then I would have to lead a team of researchers and archaelogists for years, until I find a suitable specimen of a dinosaur so that I could create this:



It will take trial and error and the result of me ever realizing any income from all of this will probably be in 35 years.
post #19 of 63
I told somebody else this a while back and I still think it holds true...get your foot in the door anyway you can at a big company you'd like to work for. It really doesn't matter what function (HR, marketing, sales, etc.), once you get in a move into finance will be much easier. If your dad works at HP I have to imagine he could set you up with interviews somewhere in the company.

If you are ambitious and willing to network it's not hard to move around a big company when you're junior. You'll find most of your peers are content to work 9-5 and collect paychecks every month. Show any initiative and you will stand out.

Oh and whatever you do don't go back to school.
post #20 of 63
Thread Starter 
Quote:
Originally Posted by nate10184 View Post
I told somebody else this a while back and I still think it holds true...get your foot in the door anyway you can at a big company you'd like to work for. It really doesn't matter what function (HR, marketing, sales, etc.), once you get in a move into finance will be much easier.

If you are ambitious and willing to network it's not hard to move around a big company when you're junior. You'll find most of your peers are content to work 9-5 and collect paychecks every month. Show any initiative and you will stand out.

Thanks, I haven't been avoiding this technique. It's just getting your foot in sometimes means being a Administrative Assistant which usually is simply being a Secretary.
Point is I have been doing this to a certain extent with me filtering out the jobs that can open up to bigger, better or different opportunities. Maybe I should widen my scope a little.

Thanks for the advise, gives me something more to apply and consider.
post #21 of 63
Quote:
Originally Posted by Saturdays View Post
Thanks, I haven't been avoiding this technique. It's just getting your foot in sometimes means being a Administrative Assistant which usually is simply being a Secretary.
Point is I have been doing this to a certain extent with me filtering out the jobs that can open up to bigger, better or different opportunities. Maybe I should widen my scope a little.

Thanks for the advise, gives me something more to apply and consider.

I wouldn't settle for an AA position but I think just about anything else would work. As long as you don't have aspirations of going into banking, there aren't many jobs that are going to preclude you from making a lateral move into a finance department. You were a finance major so I think the "I work in ____ right now but my goal has always been to do something finance related, even if it means starting over in an entry level position" story will still work for you. I'm all too familiar with how this game works, PM me if you want.
post #22 of 63
Thread Starter 
Quote:
Originally Posted by nate10184 View Post
I wouldn't settle for an AA position but I think just about anything else would work. As long as you don't have aspirations of going into banking, there aren't many jobs that are going to preclude you from making a lateral move into a finance department. You were a finance major so I think the "I work in ____ right now but my goal has always been to do something finance related, even if it means starting over in an entry level position" story will still work for you. I'm all too familiar with how this game works, PM me if you want.

Will do if needed. Appreciate the help!
post #23 of 63
Quote:
Originally Posted by Saturdays View Post
My most ideal job would be to run a mutual fund for a company or at least participate in the analysis that goes into the purchases and decisions the fund managers make, obviously this is not the end-point but possibly a mid-point into a career.

If you are interested in buy side money management, I'd strongly recommend you sign up for and study for the CFA program while looking for work.

Even passing the level one exam will give you something of a leg up (just be VERY careful how your represent that achievement as the CFA guidelines are strict). You won't become a charter holder until you have 4 years of IM experience, but at least you'll show you have the aptitude for the work as well as the discipline to get through the studying.

Just know that its a lot of work.
post #24 of 63
Thread Starter 
Quote:
Originally Posted by Quadcammer View Post
If you are interested in buy side money management, I'd strongly recommend you sign up for and study for the CFA program while looking for work.

Even passing the level one exam will give you something of a leg up (just be VERY careful how your represent that achievement as the CFA guidelines are strict). You won't become a charter holder until you have 4 years of IM experience, but at least you'll show you have the aptitude for the work as well as the discipline to get through the studying.

Just know that its a lot of work.

Y'know what, i have no idea why I have not started doing this. I will start getting things together so I can at least be ready for the process when it arrives. Might be useful in Interviews, I can tell the Interviewers that I have already taken the first exam and need this experience so I can continue pursuing the CFA.

Thanks a ton, since essentially Buy Side Money Management is what I am looking for is either managing funds and/or providing the analysis to how the fun operates.
post #25 of 63
Saturdays, you need to relentlessly tap your school's alumni network. Career services will have a list of guys who have made themselves available for advising/mentoring, and also lists of guys who have done recruiting at your school. You can also get on LinkedIn and search for alumni connections that way. Also, if you live in a major city you school will have some kind of alumni club that has events a few times a year.

Get in touch with as many of these alumni as you can under the pretext of an informatinoal interview to learn about the industry they work in. Come to the phonecall with some good questions prepared, but don't come off as asking for a job.

People genuinely like to help young folks like yourself get on their feet, and more importantly they love an excuse to talk about themselves and their work.

You will get your resume passed into the right hands doing this, and some good leads. But in this economy you have to get the law of large numbers working in your favor. Stay busy.
post #26 of 63
How good is your math., not like I am good at algebra and calculus, I mean real math.

Operation Research is actually a decent route, and you can tailor towards either supply chain management or Financial Engineering. If MFE is too quantitative for your taste, then you can indeed go for master of finance, though if you want couple years of experience, then go for MBA is better than master of finance by miles (assuming you get into top schools).

I don't know how well the mutual fund guys get paid, but I would imagine not that well, if you really want to invest and analyze company, I would say go fundamental or long/short buy side fund, though then you're back to square one as most would want you to have either research or IBD experience.

I myself is in an rather exotic asset class, I have difficulty in getting into buy side other than my asset class (not all buy side are good, I deal with a very large chunk of moron on daily basis...). Had I known this I would probably have tried harder to get into IBD (or more generalist than I am now), IBD wasn't really my thing to start with.



Quote:
Originally Posted by Saturdays View Post
I have very little tolerance for Accounitng and if I can avoid it I will. I'm only 22 so yes I am young, probably a big downside when looking for a job. I am considering getting a degree in Supply Chain from MSU since it usually is regarded as the #1 or #2 school for Supply Chain. My most ideal job would be to run a mutual fund for a company or at least participate in the analysis that goes into the purchases and decisions the fund managers make, obviously this is not the end-point but possibly a mid-point into a career. However I am very flexible, not because I am desperate, but because I have many interests I am willing to pursue and not afraid to make, let's say, Supply Chain as my career choice, even though I have an interest in Finance.

My father keeps stressing I get an MBA or Master's but everyone I speak with other than family and friends tells me to work 2-3 yrs before pursuing a MBA or Master's. Also pursuing a Master's in Finance is not an easy task particularly because most schools require previous work/studies in various programming language. I have also thought of diversifying myself by getting a degree in something more specialized like Retailing or Video/Film design, and this might gear me for corporations in that industry.



I try my best to lower my standards but maybe I am not lowering enough.
post #27 of 63
No offense but the longer you wait between school and your job you diminish the value of your degree... also a potential employer may think there is something wrong that you haven't found a full time job.
post #28 of 63
Thread Starter 
Quote:
Originally Posted by Pennglock View Post
Saturdays, you need to relentlessly tap your school's alumni network. Career services will have a list of guys who have made themselves available for advising/mentoring, and also lists of guys who have done recruiting at your school. You can also get on LinkedIn and search for alumni connections that way. Also, if you live in a major city you school will have some kind of alumni club that has events a few times a year.

Get in touch with as many of these alumni as you can under the pretext of an informatinoal interview to learn about the industry they work in. Come to the phonecall with some good questions prepared, but don't come off as asking for a job.

People genuinely like to help young folks like yourself get on their feet, and more importantly they love an excuse to talk about themselves and their work.

You will get your resume passed into the right hands doing this, and some good leads. But in this economy you have to get the law of large numbers working in your favor. Stay busy.

I have not tried going through the school's alumni network, but I have used my school's LinkedIn Alumni network. I frequent it often and try to get leads on potential jobs through there. I guess it wouldn't hurt to call the school for some help, I did pay them enough for 4 years of school, might as well get my money's worth.
post #29 of 63
Quote:
Originally Posted by Saturdays View Post
My story:
Graduated Finance from Mich. State University. Did a few local internships at Morgan Stanley and accounting/finance departments at local hospitals.
Since I graduated last May I have been working part time for a physician managing his business.
I have been expressing my interest to relocate for positions to any state within the USA.

I've been successful in acquiring interviews at big name companies: Intel, HP, Ralph Lauren, Target, Dell..to name a few. I have also received job offers for jobs in the Financial rep field (which I have no interest of pursuing).

Now it has been a year and I just found out that the job I was betting on just let me know I will not be getting a job with them.
I've used all the connections I have, dad works at HP, uncle works at CitiBank, friend used to be in IB, past room mate works for GE.. and thats only the people who were at arms length away from me, I've contacted many people who these people know as well.

I am currently living in MI and I have been debating on moving to a big city out of state and maybe getting a local job or a temp job. I'm getting desperate and I know a 1 yr gap from graduation to working in the industry looks bad and can become difficult to explain without making myself look unappealing.

any advice would be great!


tl;dr: Graduated from MSU last May with BA in Finance, been looking for a job as an Analyst, IB, Fund management, etc.. but not limiting myself to only Finance also been looking at Accounting/Supply Chain/Marketing

(1) Move to NY if you want to do finance other than the FA thing.
(2) Keep your options open, take what you get and continue looking for something better while you do. You're not in a position to be rejecting offers, IMO. If that's too much work for you (ie, you'd rather reject offers), perhaps finance isn't for you.
(3) The job market in finance is incredibly tight right now, even moreso outside of NYC and even moreso with a run of the mill pedigree. My general advice is to take what you can get (it's just your first job, afterall) and keep looking.
post #30 of 63
^^ Take what full time position you can get, within reason.
- Consider consulting firms: Accenture , E&Y and the like. They have incredible turnover rates and you might be able to slide in full time or secure a winter internship.
- Remember insurance firms. They tend to be hungrier for candidates. Not sure if you can get sponsored for the series 6 with an internship or part time, but it's worth a try if you can't find full time. Once you snag the 6, get the 7.
- Don't up and move without adequate living expenses (~6 months). Try crashing on a friend's couch in a closer, larger market like Chicago rather than taking off for NY. Once you're inside a major corporation you can always transfer to their NY office.
- Volunteer. Anything that makes this gap appear productive.
- Keep your head up. Nothing screams "don't hire me" like desperation.
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