15 replies to this topic

[willy101]

I figure we have a community of fairly smart individuals I'm sure we have some ibankers out there. Any advice you would give to job seekers out of college? I'm looking for an internship right now

[redlion]

willy101, on 23 January 2012 - 10:37 PM, said:

I figure we have a community of fairly smart individuals I'm sure we have some ibankers out there. Any advice you would give to job seekers out of college? I'm looking for an internship right now

Considering how small our community is, and considering that you yourself are in the field, I'm going to go ahead and say we probably don't have another ibanker in attendance.

That said, my advice for all job seekers would be to brush up on your interview skills. You won't get the interview unless you're over qualified - screw up at that point and you can't blame anyone but yourself. Well, unless there was another over qualified candidate that happened to interview better than you.

[havocide3]

redlion, on 23 January 2012 - 11:06 PM, said:

Considering how small our community is, and considering that you yourself are in the field, I'm going to go ahead and say we probably don't have another ibanker in attendance.

Don't be so pessimistic, there is more than one here

willy101, on 23 January 2012 - 10:37 PM, said:

I figure we have a community of fairly smart individuals I'm sure we have some ibankers out there. Any advice you would give to job seekers out of college? I'm looking for an internship right now

I HIGHLY recommend going to any job fairs your college/business school is holding and talk to every company there... dress nicely and bring your professional resumes. Have you done any internships? Are you graduating this May? Do you want to work on buy side or sell side?

If it's in 4 months, you're in a pickle. Good business jobs are slim pickings for college grads with no internships. If you need a full-time job to pay the bills, you should consider accepting an offer to work for a company as long as they know you're not expecting to rise to the top - be upfront with your bosses because they will be writing you recommendations. Also check linkedin if you have links or are part of groups... they have postings on there (at least in my groups). Expect to do many interviews and you'll get callbacks from some for second round (or third, fourth), then hopefully you get an offer.

I don't know what offerings your school has for job postings, but check with your career center or advisers.

Key points:

• Organized, professional resume
• Practice interview skills
• Always dress professionally when talking to potential employers. This includes shaving so you look clean (no day-after 5 o'clock shadow)

It sounds insulting to recommend, but read "How to Win Friends and Influence People" by Dale Carnegie. I call this the people bible. Teaches you social skills and definitely helps leave a very good impression with potential employers.

Feel free to PM me for any other questions.

[Charli]

Well my major isbusiness economics, but my emphasis was financial accounting, so I dont knowtoo much about investment internships, but this douche i dated got aninvestment job as he graduated, and it didnt seem too different fromapplying with a big 4 firm.

1. Internships are thebest choice. People get cocky and apply for 70k+ figure jobs that only 1% ofgraduates can get now, and then get really discouraged. Then its been a fewmonths since they've graduated and firms aren't looking for interns and they'velost their momentum. If you have no experience, you need to learn. Ataccounting firms they're almost always paid, so its basically an entry-levelposition. And it usually turns into a 70k+ position in around 6 months. (maybebecause thats how long it takes to pass your cpa exams though...)

2. You have no experience,and there are a ton of kids with the exact same degree as you, so all you cando is sell yourself. Aka, reeeeeally amazing cover letter. Honestly I dont know anyone ourage thats gotten a job without one. And you dont have to only apply forinternships when they are looking for interns. My roommate is bio and at theend of her junior year she sent a private pediatricians office an amazing coverletter, and got a paid internship there, when they weren't looking for anyone,or taking interns. She was the first and the only (at the time). I think itworked in her favor, it showed she had gumption, and that she was reallysincere when she said she considered it the best practice in sb and it was theonly one she was interested in interning at. Which in ADDITION to sellingherself got her the internship.

I know I'm just tellingyou what you've probably heard a million times, but it REALLY is the mostimportant thing (imo). And sorry i can't give you any investment specificadvice, hopefully my super general advice helps xD

[havocide3]

Charli, on 23 January 2012 - 11:51 PM, said:

Well my major isbusiness economics, but my emphasis was financial accounting, so I dont knowtoo much about investment internships, but this douche i dated got aninvestment job as he graduated, and it didnt seem too different fromapplying with a big 4 firm.

1. Internships are thebest choice. People get cocky and apply for 70k+ figure jobs that only 1% ofgraduates can get now, and then get really discouraged. Then its been a fewmonths since they've graduated and firms aren't looking for interns and they'velost their momentum. If you have no experience, you need to learn. Ataccounting firms they're almost always paid, so its basically an entry-levelposition. And it usually turns into a 70k+ position in around 6 months. (maybebecause thats how long it takes to pass your cpa exams though...)

2. You have no experience,and there are a ton of kids with the exact same degree as you, so all you cando is sell yourself. Aka, reeeeeally amazing cover letter. Honestly I dont know anyone ourage thats gotten a job without one. And you dont have to only apply forinternships when they are looking for interns. My roommate is bio and at theend of her junior year she sent a private pediatricians office an amazing coverletter, and got a paid internship there, when they weren't looking for anyone,or taking interns. She was the first and the only (at the time). I think itworked in her favor, it showed she had gumption, and that she was reallysincere when she said she considered it the best practice in sb and it was theonly one she was interested in interning at. Which in ADDITION to sellingherself got her the internship.

I know I'm just tellingyou what you've probably heard a million times, but it REALLY is the mostimportant thing (imo). And sorry i can't give you any investment specificadvice, hopefully my super general advice helps xD

Highly agree with #1 and #2 goes back to the book I put in my post - sell yourself and make a good impression.

[Charli]

havocide3, on 23 January 2012 - 11:50 PM, said:

It sounds insulting to recommend, but read "How to Win Friends and Influence People" by Dale Carnegie. I call this the people bible. Teaches you social skills and definitely helps leave a very good impression with potential employers.

Feel free to PM me for any other questions.

So true! i was given that book when i was 15 and i almost cried because I thought it meant my grandmother didnt believe i had any friends, but I read it 2 years later (I was paranoid I wouldn't make any friends in college xD) and I STILL think about it and flip through it. So many tips that you unconsciously carry with you for years afterward. It more about networking and having professional manners than making friends. (at least thats what i got out of it personally)

[havocide3]

Charli, on 24 January 2012 - 12:15 AM, said:

So true! i was given that book when i was 15 and i almost cried because I thought it meant my grandmother didnt believe i had any friends, but I read it 2 years later (I was paranoid I wouldn't make any friends in college xD) and I STILL think about it and flip through it. So many tips that you unconsciously carry with you for years afterward. It more about networking and having professional manners than making friends. (at least thats what i got out of it personally)

Exactly. My dad told me to read it when I was in middle school and it was one of those "oh thanks, jerk" moments. I read it because he made me and I got nothing out of it. You need to WANT to read it or you shouldn't pick it up at all.

But yeah, this is a huge tip to read that book from both of us^

[willy101]

@havocide

thanks for the input. im actually graduating in 2013 so i have a little more time. i've applied to a ton of bulge brackets and i've been brushing up on interview skills and networking across the board

i want to do M&A so probably sell-side i havent had many finance oriented internships so i've just been applying to as many as i can. and also looking into consulting

@charli
yeah im trying to do those things. but i thought cover letter didn't matter as much?

[havocide3]

willy101, on 24 January 2012 - 09:42 PM, said:

@havocide

thanks for the input. im actually graduating in 2013 so i have a little more time. i've applied to a ton of bulge brackets and i've been brushing up on interview skills and networking across the board

i want to do M&A so probably sell-side i havent had many finance oriented internships so i've just been applying to as many as i can. and also looking into consulting

I got an internship this summer with a company which offered me a FT when I graduate next year which is pretty nice knowing I have something lined up for quite a few years.

If you get an offer from a company that is a prime broker, see if they'll sponsor you to take the series 7 and/or 66 exam. You'll need it if you want to work in IB and sell. Plus you need a broker to sponsor you so you might as well try. Don't ask, don't get.

[Origins]

Probably not going to find one on this site, I may be wrong, but unlikely.

EDIT:

Apparently proved wrong haha.

Edited by Origins, 25 January 2012 - 02:32 PM.

[havocide3]

Origins, on 25 January 2012 - 10:43 AM, said:

Probably not going to find one on this site, I may be wrong, but unlikely.

[Origins]

havocide3, on 25 January 2012 - 10:47 AM, said:

x

Ah my bad, didn't see your above post.

Edited by Origins, 25 January 2012 - 01:57 PM.

[Sweeney]

Origins, on 25 January 2012 - 01:02 PM, said:

Get it?

That guy you just replied to?

An investment banker.

[Origins]

Sweeney, on 25 January 2012 - 01:07 PM, said:

That guy you just replied to?

An investment banker.

Opps my bad. Edited.

Apologies for missing the post!

@OP: As much as I would like to help you, I am assuming you follow the US educational system, I have no experience with that but I do know that where ever you are you must have sufficient experience and determination in the field - also, not sure how they do it where you are from, but only the top % get a job - it's really difficult to get into.

Edited by Origins, 25 January 2012 - 02:34 PM.

[havocide3]

OP sent you a pm

[willy101]

@Origins

yeah getting into a bulge bracket investment bank is probably harder than getting into an ivy league university

for those interested in learning more highly recommend wallstreetoasis and mergersandinquisitions

im at a disadvantage because im not a finance/accounting or business major but i have some unique experiences. i've gotten a couple interviews already