Wall Street
Wall Street
new finance grad 2017 wrote:
I'll graduate with a BBA in finance from a state university, in no way an "elite" institution. Basically a local directional state school. I have no desire to go to Wall Street, so you can save the predictable insults about my education and my future as a pizza delivery boy. Anyone have any real insights into career options, both immediate and long term for someone in my shoes? And I have no immediate plans for an MBA.
Back office. Sell side. Retail banking. Going to be tough if you aren't willing to go to Wall Street.
should have taken the extra accounting courses to become a CPA
to be constructive... start your own consulting practice. start small - local companies. work your way up to medium and large engagements. snap necks and cash checks along the way.
typical letsrunner wrote:
Why bother to major in finance, or anything else, at North Central Podunk State? What a waste of time. You'd have been better off going to a trade school and learning to be a plumber.
You're NEVER going to pull $250k a year, marry a supermodel, drive a Bentley, run 100 miles per week, and crank out 13 minute 5ks, so why did you even bother? What a waste.
Truer words have never been spoken.
new finance grad 2017 wrote:
I'll graduate with a BBA in finance from a state university, in no way an "elite" institution. Basically a local directional state school. I have no desire to go to Wall Street, so you can save the predictable insults about my education and my future as a pizza delivery boy. Anyone have any real insights into career options, both immediate and long term for someone in my shoes? And I have no immediate plans for an MBA.
This is a joke degree. You should have studied hard math. Your choices are Subway and Burger King. Actually though, you might not have enough art credits for a job at subway.
I worked in real estate development for a few years and had a lot of fun. That's a good field for finance people. It uses the skills of financial analysis, but has more of a creative side as well if you don't want to spend every day staring at spreadsheets.
The Truth Hurts wrote:
typical letsrunner wrote:Why bother to major in finance, or anything else, at North Central Podunk State? What a waste of time. You'd have been better off going to a trade school and learning to be a plumber.
You're NEVER going to pull $250k a year, marry a supermodel, drive a Bentley, run 100 miles per week, and crank out 13 minute 5ks, so why did you even bother? What a waste.
Truer words have never been spoken.
Wrong, some of Wall Streets biggest legends came from Central Podunk State.
Random jogger wrote:
Now that the typical jokers have chimed in, how about a useful answer?
First off, no one's going to want a 20-something consultant with no experience. Forget that.
You sound like me right out of college. I too majored in finance at the local Podunk State University. Here's what I did:
I got a job as a credit analyst at a regional commercial bank. Basically learning to underwrite small business, commercial real estate, and professional practice (doctor/lawyer type) loans. You will learn a lot about credit, financial analysis, and different types of small businesses and industries. I also learned I was not cut out to go into business for myself- I was and am content working for "the man" for a steady paycheck.
This role can transition into a commercial lender, a credit risk manager, and stuff outside of banking.
Such jobs should be available in just about any large city. The pay isn't flashy, but decent, especially for middle America. If anything, the small business people who will ultimately be your customers may be more comfortable with a local guy than suit from the East coast. I've really enjoyed this career and have no regrets.
^^^THIS^^^
Have the experience of a commercial credit analyst is top notch. There is no better education for financial analytics. I try to only hire people who have held the position.
Personally, I was a commercial credit analyst for many years and it was the wisest decision of my life. 1 - it made become an ace at investing. 2 - it made me an ace at interpreting and comprehending financials and what the ratios tell you.
I am now a CFO of a major company. Wouldn't be half of who I am without the underwriting experience.
But here is the thing - being an analyst meant I was in a back office all the time. Now as CFO, I work long hours and deal without a lot of stress. Maybe it would be easier and more fun to be a wealth management guy or sell insurance. I just couldn't do that.
You picked the right major wrote:
Maybe it would be easier and more fun to be a wealth management guy or sell insurance.
OP, just a warning, do not go this route unless you are a natural salesperson and you don't care about ripping people off. The financial companies will make their advisor program sound like the greatest thing in the world, but you will fight an uphill battle to get clients and, when they fire you for not generating enough business, your "trainer" will get to keep the clients. The stock broker and financial advisor are dying professions, and much of their money is now made off of exploiting young college grads.
Unless you like selling universal life to friends and family members, or doing door-to-door sales, run far away from advisor programs for larger institutions.
RIP: D3 All-American Frank Csorba - who ran 13:56 in March - dead
RENATO can you talk about the preparation of Emile Cairess 2:06
Running for Bowerman Track Club used to be cool now its embarrassing
Hats off to my dad. He just ran a 1:42 Half Marathon and turns 75 in 2 months!
Great interview with Steve Cram - says Jakob has no chance of WRs this year