Career Guidance

Hi all,

Not sure where to post this. Hoping “off-topic” is the best spot, but if there is somewhere else, please let me know.

I’ve been a silent lurker on this forum for many years now – hoping to be a future F car owner someday. In fact, I’ve been saving for a Scud since middle school!

I am a college senior, majoring in finance, who will be graduating in May 2021 (3.9 GPA from Fordham). I am interested in a career in either investment banking or risk/portfolio management in the NY area. I am having trouble with recruitment as I’m finding that many of the banks aren’t accepting full-time hires due to Covid-19 – not sure how to move forward. I’m also contemplating graduate school as a plan B.

I know that there are a lot of finance guys on this site, and was wondering if anyone has some time over the next week or two to offer some advice/chat.

I can be reached at [email protected]

Thanks in advance.

 

Well I have some advice:

1) If you love doing something you will do it well. A man who does something he loves never works a day in his life. AKA: If you don't like McDonalds hamburgers do not open a McDonalds franchise. You may end up eating those for a while when business goes bad.

If that's finance, that's great. You'll do well if you like working in finance. If you're having trouble finding a job, don't give up. Keep up your contacts and networking. Take something a little less than you wanted or a job that is in a related career to build on. We all did it. I sure did.

2) People fail all the time. Its what you do with failure that matters. Learn from it and move on.

3) Those who apply themselves as self starters always do better than those who aren't. You'd be surprised how many people are in the 2nd category.

4) The only thing you have to fear is fear itself. Never give up a good opportunity because of fear -- and I'll ad "ego". I'm not saying look before you leap but you won't get very far using only luck. It takes risk-- and hopefully reward.



I know this is not specific which I'm sure you were wishing. But these general statements will keep you on track.

 

Understand these are strange (and unfortunate) times for new grads, and won’t last forever. As an engineer, I pursued advanced degrees and that has paid off extremely well.

If you like finance and find that present opportunities are limited, I’d consider an MBA or graduate degree in a field that’ll improve your own marketability.

You’ve made a great start and are too young to be stuck in a holding pattern.

 

Excellent advice above. I would only reiterate what TheMayor said about taking a job you might think below your ideal. I hit the job market in the recession post Gulf War, and there were very few openings. I took a job that I considered suboptimal @ the time, but I figured beggars can't be choosers & you need to plant your flag & start the battle somewhere. Almost all professional fields are small worlds though. Get your foot in the door, work your a$$ off, take on tasks no one else wants to do, be an asset to the organization. It's always easier to get job #2, 3, etc. if you've built a resume of success.

Best of luck. Fordham is a good school. They didn't even consider my application out of high school. And rightly so! [emoji2]

T

 

I hope you will come back here and tell us how you navigate this time. I'm old and established. I only "think" I how to reinvent myself under cv19.

It is a tough time. Success now means you will always thrive. There are no rules. Chaos is the first thing that comes to mind. I'm with the poster who basically says seek any job see what opportunities present. The Mayor has wise words too. We start with basics make things complicated then find out honing basics are the most difficult job.

 

Thank you very much for taking the time to respond. I really appreciate your words of advice and encouragement.

In response to your first point, I can confidently say finance is my passion - that, and cars of course. I recall my 5th grade teacher asking each kid what they wanted to do when they grow up. I can still remember the look on her face when I said "stock broker" [emoji16].

Unfortunately, I'm graduating into a difficult job market, but I'm keeping my head up and pursuing all opportunities.

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Thank you very much for the advice.

I'm seriously considering grad school and am preparing for the GMAT exam.

That being said, earlier in the week, I had a networking call with someone in private equity. He recommended that I pass on grad school for the time being and push to get a job first. Reason being is that once I go to school, I am too qualified for entry level positions, but lack the work experience required for a management role.

Still, I'd prefer to go to grad school instead of hanging around home waiting for opportunities to open up.

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Thank you for the reply.

Yes, I totally agree, beggars can't be choosers [emoji16]. Definitely in this job market, I am open to all opportunities, despite my preferences.

Thank you again!

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Thanks for replying.

I'm definitely looking forward to sharing how I've navigated Covid-19 recruitment! [emoji16]

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All I can say, is opportunities can come from out of left field and that your passions can change. I have always gone with what felt right and learn from the mistakes as experience comes in many different forms and may be translated from one situation to another. In my field of process engineering in the mining industry being able to do what others can’t or won’t creates many opportunities and is highly appreciated by my employer.

 

Great advice, thank you very much.

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Have you discussed your questions/future with the college placement office, or with a trusted college professor?

 

Sorry for the delayed response.

Yes, I continue to discuss with a few advisors, as well as a few people in industry; however, I'd like to expand my network and get some more advice.

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Get whatever licenses you need, and start your own business.

 

Join an Air National Guard unit in an officer position. You can be part time or full time. Might be a great plan to start as full time and start doing finance things on the side and then switch over to part time status with the guard and do civilian job full time.

 

Thanks for the suggestion - not something I'm interested in right now.

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