Investment Banking/Private Equity Jobs

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WyattP
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Posts: 44
Joined: Wed Dec 04, 2013 4:11 pm

Investment Banking/Private Equity Jobs

Postby WyattP » Fri Jan 23, 2015 2:01 am

Hello all,

My name is Wyatt, and I am a soon to be May 2015 college graduate. I am looking to get my feet wet in the financial industry in either investment banking, private equity, or some type of hedge fund company. I realize that most people begin as analysts, and I want to go down this route and learn the business then eventually get my MBA. Do you guys have any advice for me on the best way to look for jobs? My school has a terrible recruiting program for this sector, and j carry an excellent GPA and such. I am just looking for a little tip for someone on here who may be in the business.

Thanks for any insight you lend,

Wyatt

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VMI77
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Posts: 6096
Joined: Tue Jun 29, 2010 5:49 pm
Location: Victoria, Texas

Re: Investment Banking/Private Equity Jobs

Postby VMI77 » Fri Jan 23, 2015 4:51 pm

WyattP wrote:Hello all,

My name is Wyatt, and I am a soon to be May 2015 college graduate. I am looking to get my feet wet in the financial industry in either investment banking, private equity, or some type of hedge fund company. I realize that most people begin as analysts, and I want to go down this route and learn the business then eventually get my MBA. Do you guys have any advice for me on the best way to look for jobs? My school has a terrible recruiting program for this sector, and j carry an excellent GPA and such. I am just looking for a little tip for someone on here who may be in the business.

Thanks for any insight you lend,

Wyatt


The job market is dismal. It's dismal for STEM majors let alone business majors. The best way to get a job? Make a contact that can help you or recommend you or hire you. Granted this was a couple years ago, but my son met a recent Business graduate at a job interview who told him that there wasn't a single graduate in his business school class employed in his major. About half were unemployed and the others were mostly working as waiters, waitresses, or barristas.

I have another son who is about to graduate in March from one of the country's top law schools, attending on full scholarship, after turning down Harvard which would have required a large student loan. He took a hiatus from school and is a year behind the rest of his class. Over 50% of his class remain unemployed. Another 25% or more are working part time jobs like dog walkers, or full time selling hats (not kidding here, one of his friends) or delivering packages. He has two degrees from UT Austin where he had a 4.0 GPA. Got a perfect score on the LSAT (hence the scholarship). Speaks, reads, and writes in Chinese and Japanese, and has worked part time as a translator for an international consultant, has interned for a Chinese advertising agency and wind turbine manufacturer in Beijing, and so far hasn't a job offer or a prospect. He got the internships through my contacts. Unfortunately, I don't have any contacts that can help him now, so he's looking at starting a consultant business with a friend and heading back to China (which he can do because he has no student loan debt).

My other son graduated with honors in biology. It took him over two years to get full time employment and it wasn't in his major. He's in the TSA now, using it as a way in to a Federal government job that does use his degree. So, first, cultivate contacts that can help you. If you go to church regularly that's a good place to start. At least two people I know here at work got hired because they were recommended by someone at church that was known to someone in our management. Ask family members and friends if they know anyone they can hook you up for a recommendation or an interview. Without contacts it's a lot harder, so get your foot in the door somewhere, even if it's not your first choice, or what you really want, as long as it can start you out on the path to where you want to go. My TSA son's first shot was admittance into a technical training program that was supposed to lead to a well paid full time position....but everyone in the program got dumped after graduation do to some unfortunate economic timing and Union hiring practices. Still, he wouldn't even have been in the program without having had a contact inside (he was working part time as a tutor and had tutored this contact's son in math).
Last edited by VMI77 on Fri Jan 23, 2015 5:13 pm, edited 2 times in total.
"Journalism, n. A job for people who flunked out of STEM courses, enjoy making up stories, and have no detectable integrity or morals."

From the WeaponsMan blog, weaponsman.com


cb1000rider
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Posts: 2505
Joined: Wed Jun 12, 2013 3:27 pm

Re: Investment Banking/Private Equity Jobs

Postby cb1000rider » Fri Jan 23, 2015 4:59 pm

Actually, the market for business analysis' is very hot. Course, being out of school, you're going to need to find someone to train you as one, or get some experience with relational databases. You're not a business analyst based on your major. As VM says, the post-grad market for people with business degrees and no experience can be difficult.

Hedge funds and other associated banking related firms can be hard to break into than a more general market.. The break in point would be an internship or by having special skills that they're after. Don't lock yourself to those employers.

The best way to get a job prior to graduation is to get some experience prior to graduation - co-op, internship, etc. That can delay graduation a while and as they don't typically pay business majors very well, I can understand why people don't go this route.

Post graduation, I'd be working with your colleges recruiting department - if they're really awful and you're not having any luck arranging interviews, then I'd start calling local major universities and asking when their "career fairs" are. UT and A&M both have huge career fairs in the fall and spring where lots of employers are recruiting. The career fairs are open to the public - you walk in with a bunch of resumes...


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