Young Guy Needing Job Advice (Finance)

[wanderingwolf24]

Hi All!

I just recently graduated college (SEC school) and have been looking for jobs in the finance world. I have a high GPA, internships, FINRA licenses, and on campus activities. With all of that, I still cannot seem to land a job. Most people I know went directly to grad school, very few went into actual jobs.

I have been offered a job to work on a ranch as a hand and guide as the season comes around. I see that as a chance to study for my CFA.

Anyone able to offer guidance on if I should take offer or continue to job search with no light at the end of the tunnel?

Thanks.

 

[benconfused]

The job market is touch right now. If you have the freedom to be a ranch hand, that is just another notch under your belt of skillsets. While you are free (assuming) and not tied down, you will always appreciate being outside doing stuff like this vs sitting behind a desk. If you gives you time to study for your CFA, then it sounds like a win win.

Then you can start building your on clientele and start creating a business for yourself, rather than working for the man. You are a young Randy Newburg.

Best of luck.

 

[lil' bear]

We need about 60,000 more electricians nationwide. 6 figures a year and unlimited time off.

 

[Marbles]

Build bridges and skills. Take the ranch position and keep looking for ways to use your degree. Doing something looks better on a resume than doing nothing.

 

[fwafwow]

Hi All!

I just recently graduated college (SEC school) and have been looking for jobs in the finance world. I have a high GPA, internships, FINRA licenses, and on campus activities. With all of that, I still cannot seem to land a job. Most people I know went directly to grad school, very few went into actual jobs.

I have been offered a job to work on a ranch as a hand and guide as the season comes around. I see that as a chance to study for my CFA.

Anyone able to offer guidance on if I should take offer or continue to job search with no light at the end of the tunnel?

Thanks.

Congratulations on graduating!

I agree that having something on your resume is better than nothing, and if you can pass all three CFA tests, that would be quite a feat (and I believe that will take at a minimum 1.5 years, but more likely longer). I believe getting the CFA requires quite a bit (4k hours?) of finance work experience, so while you can do that after taking the exams, you would be putting a lot of eggs (time and money) in that basket if you take the tests before being employed in the industry.

But if you are aiming for finance, there are jobs out there - depending on where you are looking (and for what). If you got your licenses, I'm assuming you want to do something in investment/wealth management. Did you get licensed during or for an internship? I thought you had to have an employer to get FINRA licenses, and getting them for an internship is unusual (at least based on my experience). What did that employer say about full time post-grad employment? Where (geographically) do you want to work?

 

[Beendare]

Heck go work in the mailroom of one of the top hedge funds and work twice as hard as everyone else to get noticed. This gets your foot in the door and learn their secret sauce.

Start at Citadel.

 

[cnelk]

The best time to look for a job is when you have a job.

 

[180ls1]

A CFA is likely a worth while investment in your career, especially before life makes obtaining that more difficult. I would probably jump on that.

I have my own RIA and a couple designations. Feel free to shoot me a PM and we can chat.

 

[wanderingwolf24]

Congratulations on graduating!

I agree that having something on your resume is better than nothing, and if you can pass all three CFA tests, that would be quite a feat (and I believe that will take at a minimum 1.5 years, but more likely longer). I believe getting the CFA requires quite a bit (4k hours?) of finance work experience, so while you can do that after taking the exams, you would be putting a lot of eggs (time and money) in that basket if you take the tests before being employed in the industry.

But if you are aiming for finance, there are jobs out there - depending on where you are looking (and for what). If you got your licenses, I'm assuming you want to do something in investment/wealth management. Did you get licensed during or for an internship? I thought you had to have an employer to get FINRA licenses, and getting them for an internship is unusual (at least based on my experience). What did that employer say about full time post-grad employment? Where (geographically) do you want to work?

Thanks for the messages everyone!

Admittedly, another influencing factor is a friend that took a year off and worked on a sportfish in Costa Rica...he didn't regret it.

I am primarily looking for asset management, equity research, and credit/risk roles in the South-East. I paid for and obtained the FINRA licenses that don't require sponsorship as a means to stand out from other applicants (Series 63 license and SIE). As mentioned, the CFA is a huge time commitment but I am confident I could pass L1 in February. I would also consider the CFP / WM route, but I understand it is more of a fee based sales role over detailed financial analysis.

 

[fwafwow]

I am primarily looking for asset management, equity research, and credit/risk roles in the South-East. I paid for and obtained the FINRA licenses that don't require sponsorship as a means to stand out from other applicants (Series 63 license and SIE). As mentioned, the CFA is a huge time commitment but I am confident I could pass L1 in February. I would also consider the CFP / WM route, but I understand it is more of a fee based sales role over detailed financial analysis.

Note that a CFA will work across several categories, including WM. I believe the pass rate is in the 40-50% range, and it requires hundreds of hours of prep - for each level. My son took and passed Level I and is spending a ridiculous amount of time studying for Level II. It's hard enough for him to study and work, but he gives up most of his evenings and weekends for the former.

And WM varies - some is sales, some is financial analysis, and more. And some companies do not require you to be a Registered Rep. Being a CFA in the WM space is very valuable.

 

[EdP]

I would question how much time you will have to study working as a ranch hand, but the experience would be fantastic and it is a terrific opportunity to learn a skill set you will value as a hunter for the rest of your life. You never know, you might meet a client that appreciates a hard worker and land a job that way. With no light at the end of the tunnel right now I say go for it.

 

[roadrunner]

Take the offer and then make a plan to use your education for yourself and not somebody else...

 

[SDHNTR]

25 yr career here in finance. Major Wall St firm. Series 7 and so many others I forget, designations, bla bla bla. I graduated college on a Friday and went to work the following Monday. It’s my only regret in life. My buddy took a year to be an Orvis endorsed fly fishing guide. When he was done he had made so many wealthy contacts in finance he had his pick of jobs. Take the year to go guide! Finance embodies the “who you know” principle, so get out there and get to know people. The most marketable guys in finance also have good people skills and can confidently talk to peers. Build interpersonal skills. Those skills will trounce any designation or academic degree. No one cares about the academically decorated analysts with green eyeballs who stare at screens in a dungeon all day. People in finance who can engage other people will always find a job.

 

[wanderingwolf24]

Wanted to update everyone that I decided to go work on the ranch. Hunting season just opened up and we’re in full swing! Thanks for all the responses and advice.