Thoughts on this: www.ibcareerpath.com

[Lord-Barrington]

Originally Posted by Saturdays

So what sort of jobs do I look for? Honestly, I have no clue how being a teller can ever get me into a F500 firm as a consultant or analyst. Working sales will only lead me to be a sales manager and then a district manager of sales etc.. I'm not keen on working somewhere where I could have worked there after graduating highschool.

You make it sound like the world is at your feet. If you graduated from a non-target a year ago and you're still jobless, you might want to think about taking that sales job regardless of if you think it's beneath you.

If you were a junior at a target asking for direction, I'd never tell you to go into a job function you might no be interested by. But this isn't the case. You're not in a position to be choosy, period.

 

[DaveB]

Originally Posted by Saturdays

So what sort of jobs do I look for? Honestly, I have no clue how being a teller can ever get me into a F500 firm as a consultant or analyst. Working sales will only lead me to be a sales manager and then a district manager of sales etc.. I'm not keen on working somewhere where I could have worked there after graduating highschool.

At the very least wouldn't it at least show a work ethic and the desire to keep busy? You can keep looking for a job when your there and I feel like it would be a lot easier to spin taking a job in a field you weren't interested in than putting a positive spin on being unemployed for a year.

 

[Saturdays]

Originally Posted by DaveB

At the very least wouldn't it at least show a work ethic and the desire to keep busy? You can keep looking for a job when your there and I feel like it would be a lot easier to spin taking a job in a field you weren't interested in than putting a positive spin on being unemployed for a year.
Well I am working, I consider myself unemployed from my career. I basically work as a manager for a doctor's office/business, I have that listed on my Resume as well. Its not a career-based job, I'm not sure if that hurts me or not.

 

[DaveB]

In that case I can't see it hurting more than working no job.

 

[Optimistic]

Originally Posted by Dashaansafin

So opening up your own high end boutique isnt la la land?
No Retail vs Finance... yeah... Good financiers are good bullshiters.

 

[RedScarf7]

Originally Posted by Saturdays

So what sort of jobs do I look for? Honestly, I have no clue how being a teller can ever get me into a F500 firm as a consultant or analyst. Working sales will only lead me to be a sales manager and then a district manager of sales etc.. I'm not keen on working somewhere where I could have worked there after graduating highschool.
This is your problem right here. Your mentality sucks and probably has something to do with your inability to get a job. If I was in your position here is what I would do: 1) Stop sulking 2) Stop looking for the easy way in (ie. don't enroll in that bullshit ib program) 3)Get a job as a teller/retail banker at a major bank 4)Work way harder and smarter than your peers. After 6 months or so begin applying for internal job postings in commercial banking or w/e interests you You really need to stop thinking certain jobs are beneath you and just dive in.

 

[Gordon Gekko]

Originally Posted by RedScarf7

This is your problem right here. Your mentality sucks and probably has something to do with your inability to get a job. If I was in your position here is what I would do:

1) Stop sulking
2) Stop looking for the easy way in (ie. don't enroll in that bullshit ib program)
3)Get a job as a teller/retail banker at a major bank
4)Work way harder and smarter than your peers. After 6 months or so begin applying for internal job postings in commercial banking or w/e interests you

You really need to stop thinking certain jobs are beneath you and just dive in.
^^^ Listen to this man.
I have a 19 yr. old cousin whose going to school for Finance. According to him, he wants to work in banking. But he refuses to apply for a Teller position in a bank or anything less than Accountant. He's had plenty of opportunities to get into banking by the back door, but feels that he's too good to start somewhere....especially when he's not even done with his degree.

 

[Lord-Barrington]

Originally Posted by Gordon Gekko

^^^ Listen to this man.
I have a 19 yr. old cousin whose going to school for Finance. According to him, he wants to work in banking. But he refuses to apply for a Teller position in a bank or anything less than Accountant. He's had plenty of opportunities to get into banking by the back door, but feels that he's too good to start somewhere....especially when he's not even done with his degree.

Frankly though, very few (if any) people successfully make the move from retail banking to investment banking. But IB is so far out of the OP's possibilities right not that it's a moot point anyways. He should be looking at doing the retail to back office/ops switch if he's really dead set on banking.

 

[RedScarf7]

Originally Posted by Lord-Barrington

Frankly though, very few (if any) people successfully make the move from retail banking to investment banking. But IB is so far out of the OP's possibilities right not that it's a moot point anyways. He should be looking at doing the retail to back office/ops switch if he's really dead set on banking.

There is no way in hell he goes directly from retail to IB, but if he works his ass off, gets level one of the CFA he would be a good candidate for something like commercial banking. Lots of possibilities from there.

 

[Dashaansafin]

Originally Posted by Optimistic

No

Retail vs Finance...

yeah...

Good financiers are good bullshiters.

I knew Cal was full of marsupials. I cant believe its so well known internationally, must be the graduate programs, or its just easy to get into.

 

[gomestar]

Michael Scott to camera: "Ryan said that if I wanted to pick up women, just tell them I work in finance"

Michael Scott to woman: "My name is Michael Scott ... and I ... am a bank teller"

 

[newinny]

Everyone in this forum speaks in angry absolutes.

YOU. WILL. NEVER. BE. IN. INVESTMENT. BANKING.

DIE.

It is probably tough in your position to get into i-banking but there are definitely ways:

MBA
Some top-fifteen business schools are strong feeders into IBD recruiting programs despite a higher acceptance rate (Ross, Darden, Cornell, Vanderbilt, etc.). Landing a job in any field, working hard and showing visible advancement (promotion &/ salary), in addition to a strong GMAT, will land you a spot in one of these schools.

Laterally
Focus on bulge bracket support groups: risk management, structuring, ARR, operations, treasury, reporting, or even IT. Find an alum in one of these groups and speak to him/her about the recruiting cycle for analysts or just one off positions. Take the CFA or get a night professional degree (i.e. the risk management certificate at NYU) and network through the classes. Live in New York City and wait around for a couple months, eventually you'll land something.

Once within the bank, you could then move to capital markets and finally to IB.

 

[Lord-Barrington]

Originally Posted by newinny

Everyone in this forum speaks in angry absolutes.

YOU. WILL. NEVER. BE. IN. INVESTMENT. BANKING.

DIE.

It is probably tough in your position to get into i-banking but there are definitely ways:

MBA
Some top-fifteen business schools are strong feeders into IBD recruiting programs despite a higher acceptance rate (Ross, Darden, Cornell, Vanderbilt, etc.). Landing a job in any field, working hard and showing visible advancement (promotion &/ salary), in addition to a strong GMAT, will land you a spot in one of these schools.

Laterally
Focus on bulge bracket support groups: risk management, structuring, ARR, operations, treasury, reporting, or even IT. Find an alum in one of these groups and speak to him/her about the recruiting cycle for analysts or just one off positions. Take the CFA or get a night professional degree (i.e. the risk management certificate at NYU) and network through the classes. Live in New York City and wait around for a couple months, eventually you'll land something.

Once within the bank, you could then move to capital markets and finally to IB.

No one said he wouldn't ever get into IB, only that he wouldn't do it now. If he winds up in a top 10-20 MBA program he has a good to decent shot of landing a IB gig as a career switcher. But to do that he first needs to get into an MBA program which requires work experience, which requires a JOB.

Laterally within a BB is one of the biggest mirages ever. For every one guy that succesfully laterals from an ops role to a banking role there are literally hundreds who try and fail. Furthermore, "middle office" work like risk analysis and structuring is probably out of this guy's range right now as well and the middle office is where most transfers happen from. The guy who goes from IT support to IB at GS is a freakin' miracle worker.

 

[ginlimetonic]

Originally Posted by RedScarf7

There is no way in hell he goes directly from retail to IB, but if he works his ass off, gets level one of the CFA he would be a good candidate for something like commercial banking. Lots of possibilities from there.
Also saw another job advert where YOU have to PAY THEM to train you to be a trader...WTF are with these scammers.. i mean what the ****? Its just so against the current paradigm of job seeking and remuneration and exudes with self interest.

 

[Nereis]

OP, your best chance now would be to land a job in industry and work your ass off for five years or so. Hopefully you do such a bang up job your boss writes you a glowing letter of recommendation to a top 20 MBA and you score well on the GMAT. That is your reset button for IB. Then you go in as an associate, hopefully.