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Investment Banking Discussion Thread - Page 21

post #301 of 622
^I totally agree with the engineering aspect but it seems said person is not sure how to ladder that into finance. Engineering background I would think should be well above competent.
post #302 of 622
Quote:
Originally Posted by GIXXER126 View Post


Assuming you're in banking i would immediately question your level of success. Think about it feom this angle, if you want fat large pay days, you better be hungry for deals because there's dozens of other banks with their bankers who'll eat your lunch! Simple as that! No hard work, no big pay cheque or bonus.

 

Being "hungry for deals" is different from putting your max effort because you want to get the hell out of there in 2 years so you can get a better job at better hours. 

 

I don't know if you are in ib but I have not heard a single person say they absolutely love their job and are "hungry for deals"

post #303 of 622
Quote:
Originally Posted by GIXXER126 View Post

Assuming you're in banking i would immediately question your level of success. Think about it feom this angle, if you want fat large pay days, you better be hungry for deals because there's dozens of other banks with their bankers who'll eat your lunch! Simple as that! No hard work, no big pay cheque or bonus.

always nice to see someone sticking to the 80s mentality..
post #304 of 622
Quote:
Originally Posted by gettoasty 
Dude is in engineering though so obviously his heart wasn't in it from the beginning.

And to sum up GreenFrog, you either make it or don't.

I'd say my heart might have been in it from the beginning. I've been into economics pretty seriously since high school (read Wealth of Nations my senior year of hs, Ricardo and other classics around the same period). Got an economics major when I couldn't find a job because it's what I enjoyed. Got into finance and investing recently when I actually had money to start doing it. So I've been into economics/finance for some time, and investing's just a relatively recent application of that.
Quote:
Originally Posted by gettoasty 
^I totally agree with the engineering aspect but it seems said person is not sure how to ladder that into finance. Engineering background I would think should be well above competent.

This is completely true.

I want to get a job in finance now, work it a few years, go for MBA at top school, maybe have my CFA exams completed by the time I graduate, too. If I can do all this I'll be in a really good position. The part I'm having difficulty with is getting the first job. I don't know what I really qualify for in investment management as an engineering background and don't want to be applying to jobs I have no chance of getting. I want to be as close to the investment process as possible though, definitely not back office because I don't think any of that would help me in the long term.

I could also get an MBA right now but with the work experience I have now I would be worried I'd be at a disadvantage come graduation, which is a concern I expressed a few posts ago.
post #305 of 622
Quote:
Originally Posted by Khayembii Communique View Post


I'd say my heart might have been in it from the beginning. I've been into economics pretty seriously since high school (read Wealth of Nations my senior year of hs, Ricardo and other classics around the same period). Got an economics major when I couldn't find a job because it's what I enjoyed. Got into finance and investing recently when I actually had money to start doing it. So I've been into economics/finance for some time, and investing's just a relatively recent application of that.
This is completely true.
I want to get a job in finance now, work it a few years, go for MBA at top school, maybe have my CFA exams completed by the time I graduate, too. If I can do all this I'll be in a really good position. The part I'm having difficulty with is getting the first job. I don't know what I really qualify for in investment management as an engineering background and don't want to be applying to jobs I have no chance of getting. I want to be as close to the investment process as possible though, definitely not back office because I don't think any of that would help me in the long term.
I could also get an MBA right now but with the work experience I have now I would be worried I'd be at a disadvantage come graduation, which is a concern I expressed a few posts ago.

 

So what are you doing now?

post #306 of 622
Quote:
Originally Posted by aspasp View Post

So what are you doing now?

Here I'll just sum up the past two years of my life and you can choose whether or not you can be arsed to read it.

Graduated in 2009 with a BS Civil Engineering and 3.0 GPA from a non-target school. Passed the Fundamentals of Engineering exam (first test to take towards PE cert) my last semester of school. Was a dues paying member of American Society of Civil Engineers and Engineers Without Borders. Before my GPA plummeted I was on the Deans Honor Roll and in the Honors college. I also studied abroad in GB for a semester.

Couldn't find a job, went back for an Econ major which I got in 2010 (major GPA was like 3.2).

After graduating I worked at a retirement recordkeeping company for about 8 months. I took this job because it was the only offer I received and it seemed like good pay and nice place to work. Received my S6 and 63 licenses (which expire in May 2013). This job was in a call center and mostly customer service but also involved understanding and explaining numerous sections of the IRC to people, as I'd have to explain the tax implications on stuff people would want to do with their 401k's/403b's/etc. I would also explain various investments, but could only provide information and not any kind of advice or anything like that as I don't have S7.

Then got a job at a company that distributes engineering software as a support technician. I took this job because it was the first job offered related to my field, and at this time I still wanted to get into my field. This job involved supporting the software over the phone, which meant I would help people with technical problems. People would also call up and ask how to do stuff or why the software was doing stuff and I'd have to explain it. I would also train people on this software. I was the primary contact for this software for technical and help issues for our biggest customer. I am also one of a small amount of people in my state that have received all five certifications offered in the use of this software.

Then took a job at a small manufacturing company as an engineer, because it's what I was trying to get all along. I've been working here about a year. I worked initially in service to get to know the machines. This would involve repairing machines that came in, supporting technicians over the phone in their use, maintenance and repair. We also go out to customer sites to repair machines and provide training. My company also offers services that involve custom design and installation of specialized equipment for industrial laundromats (think of a complex system of conveyor belts with their own logic and traffic control). I have installed these and have to manage these installation projects to ensure we hit our deadlines (have it installed in the amount of time quoted with minimum production down time). I work in engineering on designing equipment customizations as well as designing these complex automated systems, product improvement, part/machine modeling, drawing creation, etc.

Everyone I work with is a nerd. I'm a nerd but I can't relate really because I'm not a nerd about engineering. I like technical stuff, and math, and science, and designing stuff, but I'm not passionate about it really. I'm a nerd about the markets and the economy. I follow the european debt crisis pretty closely, and during the economic crisis was following it religiously even as I was applying for dozens of jobs a week. Which is why I think investment management fits what I want to do more than anything else.

But anyways, based on all this past two and a half years of experience, I'm trying to figure out what kinds of jobs I can realistically be applying for in investment management to work until my MBA that will look good on a resume. That's where I'd like some help and the only reason, really, why I'm still posting in this thread.

tl;dr I'm an engineer at a small manufacturing company
post #307 of 622

realistically you aren't qualified for much, and I would probably reccomend focusing on the engineering career path.  but if you are set on finance....

 

you don't live in a internatioanl financial hub by any means, so there is not a big pool of investment managent jobs, the only AM I am familiar with in Milwaukee is a mutual fund company called Artisan

 

reccomendations in order of highest impact: move, take the CFA exams, get an MBA

post #308 of 622
Quote:
Originally Posted by concealed View Post

realistically you aren't qualified for much, and I would probably reccomend focusing on the engineering career path.  but if you are set on finance....

you don't live in a internatioanl financial hub by any means, so there is not a big pool of investment managent jobs, the only AM I am familiar with in Milwaukee is a mutual fund company called Artisan

reccomendations in order of highest impact: move, take the CFA exams, get an MBA

Well we have some big names here (NW Mutual, JPMC, US Bank, Wells Fargo, Wells Capital, RW Baird) as well as some MM and boutiques (Artisan included). I'm looking at all of these but I'm also looking in Chicago. I have no problem with moving but think it would be dumb to move before finding a job.

I'm taking CFA Level 1 in June and am confident I will pass.

I want to get an MBA but wanted experience in the field first. I don't want an MBA and CFA with no experience; I'm worried nobody would hire me because I'd be overqualified for entry-level positions and underqualified for positions which I'd normally have access to if I had experience. I asked this earlier in the thread: How much of a problem would it be if I just went for my MBA right now at a top school while pursuing the CFA? Would it realistically be difficult to find a position in the field if I have my MBA and CFA L3 but no experience? If so, would I be underpaid?

Is it just pointless to try to work in the field first because I won't be able to find a job or internship? This seems sort of like a chicken/egg thing.

Looks like I'm hijacking the IB thread again, sorry. I just can't get anyone to answer these questions for me.
post #309 of 622
that "top school" thing will require a high GMAT score to compensate for the lack of a 3.5+ GPA and lack of solid work experience.
post #310 of 622
Quote:
Originally Posted by gomestar View Post

that "top school" thing will require a high GMAT score to compensate for the lack of a 3.5+ GPA and lack of solid work experience.

That was the plan, though I thought my engineering would be considered "solid work experience" to the school because people use MBA's for rebranding all the time. i shouldn't even be talking about this right now haha
post #311 of 622

I think you are expecting too much right now, you can going to have to do shitty jobs in finance for someone to take a chance on you at all

post #312 of 622
Quote:
Originally Posted by aspasp View Post

I think you are expecting too much right now, you can going to have to do shitty jobs in finance for someone to take a chance on you at all

What am I expecting that's too much? What shitty jobs in finance should I do?
post #313 of 622
I'd start by creating your own PWM thread.
post #314 of 622
Quote:
Originally Posted by Khayembii Communique View Post


Well we have some big names here (NW Mutual, JPMC, US Bank, Wells Fargo, Wells Capital, RW Baird) as well as some MM and boutiques (Artisan included). I'm looking at all of these but I'm also looking in Chicago. I have no problem with moving but think it would be dumb to move before finding a job.
I'm taking CFA Level 1 in June and am confident I will pass.
I want to get an MBA but wanted experience in the field first. I don't want an MBA and CFA with no experience; I'm worried nobody would hire me because I'd be overqualified for entry-level positions and underqualified for positions which I'd normally have access to if I had experience. I asked this earlier in the thread: How much of a problem would it be if I just went for my MBA right now at a top school while pursuing the CFA? Would it realistically be difficult to find a position in the field if I have my MBA and CFA L3 but no experience? If so, would I be underpaid?
Is it just pointless to try to work in the field first because I won't be able to find a job or internship? This seems sort of like a chicken/egg thing.
Looks like I'm hijacking the IB thread again, sorry. I just can't get anyone to answer these questions for me.

 

You aren't overqualified for an entry level job

post #315 of 622
get off your smelly ass and go get a shitty entry level finance job and get some experience. work as an analyst in some small firm doing whatever the fuck they want u to do with little pay. leverage that experience since the firm is small and the fact that you have an opportunity to have a hand in everything.


Quit asking styleforum coz noone else can help you be proactive.
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