Mod Note (Andy) - as the year comes to an end we're reposting the top discussions from 2015, this one ranks #27 and was originally posted 7/21/2015.

Hey guys, so I know there are a few posts about the back office (i.e Operations) on this site but I just thought I'd add my 2 cents as I recently left for another job after spending 1 year in BB Ops.

1. Pay:

I don't know about other banks or regions but in mine, the base starting salary (non-NYC) was around ~45k with a signing bonus of ~7.5k. During training in NYC, I learned that my NYC counterparts received a base of ~60k and signing bonus of ~10k.

This is actually not too bad, considering that I live in a VERY cheap area. Unless you are an idiot, you are able to save at least 1.5k EACH MONTH and even more if you're super frugal. Obviously it's not the same for NYC but where I live, this is not uncommon.

In addition to our base/bonus, we were paid overtime (again, in my region... not sure about NYC). Depending on your team you worked anywhere from 10-14 hours a day. We worked 10 hours each day (7am-5pm) and were paid half time for each hour over 40. This added up to about ~52k, plus ~7.5k means we made about ~60k our first year in a VERY LOW COL area!

2. Performance Bonus:

It seemed like the first year bonus was usually around 4-5k across the board since most of the analysts had only been working for a few months and were still learning. After that, it could go anywhere from 2k-20k. Despite the fact that these bonuses were "discretionary", I had a lot of alum just tell me flat out what their bonuses were. The top performers (yes, even in Ops..) received anywhere from 10k-16k. The average was around 6k-9k, and if you sucked then you can go as low as 3k.

Another cool thing was that our bonus was ADDED to our BASE and our OVERTIME pay was calculated with BASE+BONUS. Ex:

48k BASE + 10k BONUS = 58K
Hourly = 58K/52/40 = 27.80

Working 10 hours per day turns 58K into 65K.

Yes, I know this is still considered "low" at WSO but the average salary in my region is like 40k-45k.

3. Lifestyle:

We worked from 7am - 5pm, sometimes 6pm. Usually we were done by 5. 18 Vacation days that we were free to take whenever we wanted. Unlimited sick days (at least for my BB, as long as you didn't abuse it). Easy to work from home when feeling sick or have other obligations that required you to stay home. Work was EASY AS HELL and had zero pressure/stress.

4. Exit Opportunities:

This is where I feel most WSO users get misled. I know that BB Ops is not the best job, but if you are a hard worker and a good networker, it is VERY POSSIBLE to jump into FO or even move into management consulting. The BB brand name helps getting into industries outside of finance but your personal performance will help you get into FO (within the same BB).

I've seen people move to IB, S&T, ER, Credit Risk... etc. Another possible option is working for 3-5 years and getting your MBA. A lot of my connections moved on to M7 MBA programs (mostly Booth and some in MO at Wharton). It's not only about your job title but it's about leadership, work ethic, extracurricular activities, and telling your story! If you work hard, you will have plenty of opportunities to come up with "interesting" projects that can really make you attractive to bschools.

In conclusion:

Working in BB Ops isn't so bad unless you are deadset and gungho about going FO. Even then, you can definitely use this opportunity to lateral and network.

As for me, I got a job offer at a f500 large tech company, a boutique strategy consulting firm with managers from MBB, and a smaller tech company that just went public last year. I'll be joining the smaller tech company next week!

Hope this helps some future Ops monkeys as I know I was depressed as hell when it was the only offer I got from my crappy non-target. There will always be more opportunities so don't give up!

Mod Note (Andy) - as the year comes to an end we're reposting the top discussions from 2015, this one ranks #25 and was originally posted 9/20/2015.

From Non-Target Undergrad Straight to PE

I've had some downtime the last few weeks before I start my new role and have been mulling over making a post on WSO, long time lurker, first time writer. I feel exceptionally lucky to have landed a buy-side gig (at at PE firm no less) straight out of undergrad with minimal experience, no "prestigious"internships, a horrible GPA, little to no alumni to tap.....frankly I could make a post dedicated to the list of hurdles I've faces for the last 3 years. I would like to throw my story out there as a counter to the conventional structured wisdom on WSO and present an alternative narrative to those aspiring to enter into principal investing and private equity.

Since my firm and school are quite small and I'd like to maintain my identity I will be intentionally vague about some details and focus on the meat of my story.

I graduated in 2014 as a finance/econ double major from a regionally well regarded liberal arts university with a strong track record of producing successful professional track graduates, but one with no national recognition, finance recruiting (we are one of the top schools in the country for accounting however), few if any alumni in corp. fin/IBD/PE/HF/PM/etc., and with no faculty from any of the above. In short, probably the worst setup possible from someone trying to get into a PE firm.

I had one internship sophomore year doing international trade and what I like to term "physical commodity arbitrage" for a company based out of Mexico. Unfortunately, I had a PE internship fall through right before junior summer began, but I'm still friends with the MD to this day (it's a small world people). My overall GPA was 2.9, and I'm rounding up, however my GPA my final 4 semesters was 3.4, and my MGPA was 3.5 - we have an unusual grading distribution and the median and average grade in a finance course at my school is a C+/B-, even in senior seminar - in other words I was one of if not the best finance student in my year. I also studied for CFA Level 1 my senior year and passed with flying colors.

I started out as an economics major, and figured out quite quickly that I hated the theoretical aspects of the subject and was more interested in it's application, so I switched my focus to finance beginning Junior year. I had a lot of time as a rising sophomore to do research and read - I actually spent part of that summer reading Security Analysis - 1951 - and figure out what kind of coursework I should take and what the 2nd half of my college education would look like. Upon returning from holiday I immediately started taking finance courses and in tandem started taking upper division accounting and digging into the world of finance. After about 6 months, I had figured out that if I wanted any kind of career in finance I would have to get out there, start meeting people, learn how to present myself, and develop a level of maturity beyond "above average", so I started attending alumni functions and went so far as to fly to several events in different top 10 metro areas to network. Nothing really came of it, but it was good experience. A few months later I coincidentally ran into an alumni who at the time was a director (now an MD) at a >$1B PE fund and ended up having an interview with him. It was my first contact with someone in principal investing and his story uniquely resonated with me as opposed to some HF and IM professionals I had met and found interesting. For me, the tangibility of PE, and the opportunity to be hands on with your investments and have a definitive impact was enthralling, and I kept in contact with him, and had a few meals. I also networked through an ex-board trustee who introduced me to a director at F50 company who introduced me to a young guy (30s) who runs a >$2B public holding co with a PE strategy, and he as well had a uniquely interesting story that resonated - he is extremely hands on with his investments as well. Those two people really sparked my interest in PE and are the reason why I chose to pursue a career in the space.

When I graduated I was a fish out of water - no job offer, no prospects, no nada. I spent time after graduation studying for CFA L1, took a few weeks after the exam to recharge from a senior year from hell (IBD hours every week), and started looking for a job in July. I had some prospects going when I decided to reach out to a boutique bank in town, and struck up a conversation with one of the MDs about how I'd never seen him at a CFA function. He invited me to meet his analysts and a day later they offered me a job. It was less than ideal - I was working as a "consultant" ie. a part-time analyst due to their level of deal flow, but I was working on PE due diligence for a few companies that our MDs were considering investing in and turning around (my MD was a M7 MBA with a MBB consulting background). I had, without realizing it, found a spot working in PE, even though I wasn't being paid well and had 0 job security. However the deal experience was invaluable, and I learned a ton.

When I was hired by this boutique Investment/Merchant Bank, the partners were very upfront that I probably wouldn't be there long because of deal-flow and their current analyst/associate pool, so I took a few interviews, including with several top notch boutiques and BBs, but really fumbled hard with my story and my work experience and although I managed to make it to final rounds with some exceptionally competitive firms was unable to land a single offer. I stopped working for this firm around November/December 2014, which looks rather bad on a resume to work for only 5 months before leaving. Christmas and New Year went by, and really everything from mid-January till now really blends together into one continuous timeline marked by incremental successes.

The one major event in between was I began studying for Level 2 CFA in February and ultimately passed the June 2015 exam. I cannot articulate strongly enough how important an event studying for level 2, and passing it, was for my job search. It doesn't matter what space you're in, no one with ever doubt your technical savvy if you're a CFA candidate with at least one, and preferably two exams under your belt - the material you are REQUIRED to know in order to pass those first two exams puts you far above most IBD analysts/associates in terms of financial and accounting knowledge. While it may not teach modeling skills, you really must have an intuitive grasp and truly understand the mechanical and theoretical aspects of financial statements to pass, which will get you past numerous technical questions/teasers and give you a unrivaled skill set to critically evaluate financial case studies which are part of the PE interview process and your day-to-day job.

From January to August, I really can't even begin to count the number of interviews I've had. For those of you who care, the list includes JPM, Goldman, Piper, RBC, Cowen, multiple other MM banks, several endowments/sovereign wealth funds in the 10's+ billions, probably 20-30 PE funds....it's a long list. I also turned down multiple offers during that time from things I didn't really want to do long term like portfolio management and real estate PE. I decided to keep interviewing full time because I saw continued improvement with my interview prospects, the frequency with which I was contacted by PE firms, and how far into the interview process I was able to get within PE/IBD. If I had been shaken out consistently in the first or 2nd round, I would likely have caved much sooner, but I was able to consistently make it to 3rd, 4th, and final rounds with strong firms, and lost closely to a pool of 2-3 other people, all of which were associate level hires to my fresh undergrad resume with ~6mo IBD + CFA L2 Candidate. I knew that if I kept at it, eventually things would fall my way and this back log of associate level hires would pan out.

Eventually they did, and I passed Level 2 CFA (2/2 so far baby), and I'm starting my new gig in October. I'll be working for a PE firm with a fixed capital base (yes, we are not a private equity "fund" per-say), working directly under the CIO, leading the due diligence process, portfolio company integration, transaction financing, participating/presenting in board & hold-co. level meetings, etc. and I'll have an office with a window, at 23, and all with the ridiculously stacked-against background that I have.

If I could identify two things that made me truly unique, and that ultimately differentiated me from a host of 2nd year analysts/1st year associates landing me a coveted spot which was advertised as a post BB/MM IB analyst program pre-MBA associate job (312 resumes last I checked with my boss), one is the ability to be articulate, and the other is genuine intellectual curiosity. It's unbelievable easy to find someone who can build a complicated excel model and has technical abilities, but asking that person to walk another person through the model, detail their assumptions, be concise in doing so, and answer questions while conveying understand, is a rare skill. At the end of the day, it's all about making things tangible for someone else - maybe that means thinking up a metaphor on the spot to explain a revenue accrual, or intuitively explaining the pitfalls of a valuation methodology in a way that makes sense to your grandmother, if you can do that, someone will eventually see that skill and recognize how rare and valuable it is when working closely with the partnership or a portfolio company. Secondly, having genuine intellectual curiosity - unlike investment banking, investing requires a creative mind and type, which is essential to vetting deals and seeing pitfalls/opportunities no one else does. At a typical PE firm, you will end up investing in maybe 2-3 deals a year, out of over 100 evaluated, or many more depending on firm size, every year. If you don't find the evaluative process interesting - picking up a new product, learning about it, understanding how it works, is made/marketed/serviced/used, and enjoy questioning facts and the status-quot, you may make it to final rounds, but will never get an offer.

I'll add a couple of things for housekeeping before I end this post.

The interview process was as follows:
Applied via LinkedIn - I have a flashy color resume, and yes, the color is red
Contacted 1w later, phone call next day

1st round: 30-40 minute call, long form elevator pitch followed by unique technical questions stemming from the firms current portfolio companies, invited to case study 2nd round at the end

2nd round: provided CIM (Confidential Information Memo, in case you're in undergrad) from one of the partners former investments, also given previous year of financial statements in excel - asked to create a full month-by-month lbo model with tax schedule over a defined investment period, and do a short write up on the investment - given 24 hours to return a model and materials - essentially a firedrill. I ended up running out of time, emailed the partner my work at the 24 hour mark, explained that I was having some difficulty linking the schedules he asked from back to the circular LBO model but that the rest of the model was build and functioning, and he offered me more time. (be honest, humble and willing to admit if you can't finish something, rather than turn in a half-ass product and hope it gets by)

3rd round: week after I turned in my model, partner setup a call to discuss it, the logic behind my assumptions, gave me another few technical questions, and invited me to fly up and meet with him

4th round: flew up the following week to meet with the partner, was given another case study in person - no modeling, just a really, really, really difficult scenario that required a lot of financial statement knowledge to solve, was immediately given an offer in the room upon solving the case study in ~5 minutes. Called from the airport to accept, with the stipulation that I would receive an office, with an outside window.

Comp was offered at 55+30, reset at the end of 15', very much in-line with the industry, if not slightly above after we renegotiate after he's seen a few months of work product (I'm a Level III CFA Candidate too, for crying out loud). Could have negotiated higher but I'd rather not fight for 5-10k more this year when i can ask for 30-40 more next year, at least. It's better to to prove yourself anyway.

I guess I'd like to end this post with a note to the community: WSO has been helpful, while there is plenty of bullshit here, there is also plenty of good information and it's been helpful to peruse it over the years, and educational to have to read between the two. It's been a far better resource, combined with a fair number of blogs and interviews, than my university career services was.

Don't give up out there, kids.

I'm a high school drop out who's now a Manager at a top 10 consulting firm. For all of those out there who are asking 'do I have a chance if...', here's your answer: you f*cking bet you do. The only thing stopping you from getting that prime job is a little gumption, some solid dreaming, and that burning desire to go after it with everything you got, and a little more. If I can get to where I'm at today, you can, too.

Alright, here we go.

That wasn't a typo up there, nor was it the crappy airplane wine making stories. I dropped out of high school after my junior year of high school because, well, it sucked. I had my sights set on breaking into extreme sports like every self respecting teenage punk and, besides English and Photography classes, I couldn't stand another year of high school.

Yes, I was the product of a broken household in Baltimore City. (See: The Wire)
Yes, I was with that crowd who got into bad stuff. (See: Baltimore Drug Trade)
Yep, arrested when I was 17. (Nothing to see here)
You get the idea.

1. Have some character.

However, the extreme sport thing kind of worked out - I was pretty good at mountain biking. I rode every day as much as I could, even getting ranked internationally a few times. I was passionate about something and I wanted to get better at it for the simple fact of knowing that I was better than myself after every ride. (Little did I know that drive, that psychological ability to get above the pain, would come in hand later on in life.)

2. Be passionate about something. It will pay dividends.

Then the hustle started. I started working at bike shops as a way to fund my hobby, slowly making my way up the ranks from broom pusher to sales guy. Sales guy to mechanic. Mechanic to service manager. I was even asked to write for magazines. Retail was my home, but I wanted to be more in life than a bike mechanic.

3. Work hard. Now, work harder.

I should have been in college at this point but didn't want to take a step back (stupid), so I took some reputable Project Management courses and earned some certifications. I started applying to every single job online; I was a recruiter's worst nightmare. I looked at jobs and always thought 'I could do that'. When the occasional callback did happen I swear I was an expert in whatever the topic.

4. Don't let someone else's doubt get in your way of being awesome.

I was hungry.

I landed a couple project management jobs and made the jump out of Retail, but was laid off at each of them because business was bad and, hey, I was the lowest on the totem pole and was already a stretch hire. I got the first one because the company owner was into cycling and knew of me. I got the second one because a friend believed in me and recommended me to the owner.

I felt awesome getting those jobs - I felt like I 'made it' - and felt like such a failure losing them. Life started catching up at this point. I lost jobs. I didn't have a college degree. I wasn't successful at much besides bike riding, and even that started to wane.

While collecting unemployment I asked around and started working PT at some bike shops under-the-table to make ends meet. I wasn't above anything. I was lucky to be able to afford rent. But I couldn't afford that and had to ask the landlord to break the lease. I was buying ramen noodles......with my credit card which was getting maxed out.

I will never forget having to go to McDonald's for dinner ($1 menu) and not being able to use any of my three credit cards on me because they were maxed out.

5. Things are gonna' get bad. But, listen, keep your head above the water and wait for the moment.

I mentioned I was trying to get back into corporate life to someone who worked at the bike shop, and it turned out her husband was an MD at a top-10 consulting firm. I chatted with him about my situation, talked about my experiences and built up what little moxie I had left to present myself as someone who could do well in consulting. I was completely honest about my educational background and said it might be an issue with recruiters. It turns out government contracts, especially those for long term outsourcing gigs, have stipulations that say resources can have more years of experience in lieu of a degree.

I interviewed strong and left a great impression with the group, eventually getting an offer in the outsourcing group as an entry level analyst. In other words, I got the absolute lowest level position available within the US at the firm and couldn't have been happier. I got a job at one of the world's best consulting firms. Holy shit. Literally, I went from brooms to briefcases.

6. Present the best of yourself everywhere you go. The person next to you could be the link to your favorite job.

Fast forward about 5 years and I've been on a tear at the firm, getting transferred into the more prestigious units, promoted ahead of schedule, and then promoted ahead of schedule again. I'm frequently sought out for my industry experience and am well regarded as a savvy communicator who can go from the board room to the factory floor with a 'surprising amount of ease for a consultant', as I've been told by many a client. I'm not above any job - I'll print the best god damn presentations ever. You need a coffee? I gotchyou', and I already know you like a dash of soy milk in your medium americano.

You are always in a position to be the best version of yourself, at all times. Dig deep.

Stay strong. Stay hungry.

MTBaltimore

Well I did it. I landed an offer to be a summer analyst at an investment bank. Breaking into I-banking from a non-target may be a more common occurrence these days, but it is certainly still a challenge. Here are three pieces of advice that definitely helped me in securing an offer.

It's not what you know, it's who you know

I know you've heard this a million times, but it is so crucial coming from a non-target. Reach out to alumni, friends, or friends of friends. Basically anyone willing to lend an ear and possibly help you out. I sent countless "cold" emails out and had 150 contacts by the end of the summer. Furthermore, always try and meet face to face with a contact either it be shadowing for a day or for quick coffee. Putting a name to a face will go really far when it comes around to recruitment season. HR scans through countless resumes every single day. When they get an email from a co-worker asking to check out your resume, it will definitely set you apart.

Internship Experience is vital

Once you establish some connections, be able to impress with your resume. I know it's really tough to find internships following freshman and sophomore year, but whatever you can find in finance, go for it. Coming from a non-target I saw it critical that I was majoring in finance and had a wealth of internship experience within the field. The three internships I had definitely helped me gain skills that are necessary in I-Banking. They were all unpaid, so I had to work odd jobs to support myself financially. In the end, however, it was well worth it. Work ethic is crucial in this pursuit.

Go the extra mile

The worst they can say is no. I told myself a lot this past summer. I sent out countless emails, had numerous informational calls over the phone, and had two self-funded networking trips. On numerous occasions, I was complimented on my persistence and willingness to go the extra mile. Again, it goes a long way in setting yourself apart from the crowd.

A lot of people told me I couldn't do it. I know this is cliche, but you can truly do anything you set your mind to. If you are non-target who wishes to break into I-banking, it is very possible. If you possess the work ethic necessary and stay focused, then go for it. Okay, now I'm starting to sounds like a motivational speaker. Anyways, I hope you find this advice helpful in the long run.

Here are 5 worst career advices that I have received to date

1. Don't put all your eggs in one basket.

In theory, this can't be wrong. But who can diversify (i.e., get free lunch) and still make money? This is not a good advice for those who want to make money. I will always thank the business school professors for teaching me the theory of diversification and different types of risk, but this belongs to the domain of finance textbook. portfolio management to me is a discipline where a good percentage of portfolio managers make only a few bets (in a year!) while holding an index portfolio.

2. Life is too short.

Yes, if you are at your death bed, this statement couldn't be truer. I think the baby boomer generation(s) remind us constantly that life is too short. In my personal view, they were the lucky ones, chosen ones with the right retirement packages and ownership of houses. We, on the other hand, are faced with extremely uncertain future. For most of us with 20 - 40 years work life ahead, this statement is meaningless. I say life is long so you have to find what you are passionate about and develop your career in it. If you like what you do, you can get through some tough times. It is perfectly normal for our modern generations to go through a number of redundancies and failed businesses. You can get through most of these tough times if you truly love what you do. Life is long.

3. You have to be really smart to work in banking.

Yes, to an extent. But you cannot be too smart in my view. Also you have to be conventionally smart. You cannot be going to a community college if you have the capabilities to go to Harvard. Put differently, if you are one of those people who are really smart but fail to get into a smart college (or does not have the right credentials), you will struggle. "Good Will Hunting" is a sad story of a man who is smarter than 99% of people on this planet but does not have the credentials to back up his "smartness." I think Matt Damon captures this beautifully. Banking is an extremely conservative industry and likes to take people who are moderately smart and come with good brand name colleges. Just like Singaporeans.

4. There is no racism in work place any more. Just do what you want to do.

Every time someone says "this is the 21st century and there is no more racism at office," I get annoyed. This statement is untrue on so many different levels. I am always curious to see who makes this bold statement. Is it a white person saying this? Is it a 20-something woman saying this?

5. You can do anything you set your mind to.

Yes, it would be ideal if we lived in such a world. But 99% of us know that we don't. It comes down to your age, capabilities, ethnicities, races, educational background, social standing etc. I sometimes find that people who say this (and believe in this) don't follow through. For example, a recruiter who says "you are still in your 20s (or 30s), you should explore different career options and find what you like" seldom gives a chance to candidates with non-traditional background (for example, a candidate in the 30s applying for an analyst position).

I know it's a jungle out there guys. It's tough for people just graduating to find jobs, but it's even tougher for those in the work force and those with a non-target educational background to break into Finance (let alone work in a competitive sector). This story is a testament to ALWAYS maintaining the conviction in your mind that your circumstances are not reflective of who you are. If you maintain your self belief, know that everything will play out in your life as intended, and express gratitude towards others, you can literally accomplish anything you want to. I never used to believe this stuff, but because of how my life has played out, I can honestly say it's true.

So how unlikely was my chance of success to begin with? I'd say it was enormous. I originally attended a non-target Undergrad as a Biology major, I've never taken a Finance class in my life, and I graduated with a GPA around a 3.2. My Freshman year of college resulted in my grades tanking (and set a pretty substantial trend) as I faced the possibility of being homeless and not being able to afford tuition. When I graduated and realized I didn't want to become a doctor (and that I really wanted to break into Private Equity), I had to figure out the next steps in my life. How was some Bio Major going to break into PE and Investments from the get go? I simply picked up the phones. I made lists of firms near me, and cold called. Success rate? 0. Got no email responses, got no call backs, nothing. In order to pay my bills, I continued working part time as a Pharmacy Technician while also working full time at a "factory" type Pharmacy from 3:30 pm until 11:00 pm at nights. It was hands down one of the worst experiences my life, as I was surrounded by people that were thoroughly negative.

One day when I was on vacation with my family, my friend gave me a call and told me his operations department were looking for people. It was at this moment that I knew that I had to take the first step to break into Finance. Within two weeks, I managed to secure an Interview, secure the job, and I moved up to Manhattan to work. I had about 800 dollars in my bank account. I slept on a twin sized foam mattress on the floor in my friend's Studio, and we split the rent three ways. The pay at my job was pretty terrible, and some days I had to balance between washing my clothes or eating dinner. Shortly thereafter, I got a terrible case of Walking Pneumonia, and hit a 103 degree fever. I clearly remember on one particular day, the walk back from the subway to my shared studio was one of the most difficult things I've ever done; I legitimately remember thinking that I might die as the rain completely drenched me on the walk back. Looking back on it, it's probably one of the moments I appreciate the most, as I was the most unhealthy, broke, and unhappy I'd ever been in my life.

After a couple months, the firm I was working at was slammed with a number of scandals, and my roommates decided to head back to their respective homes. There was no way I could survive in the city without living on the streets, so I started applying to firms back home (now that I had a few months experience in NYC).

I made it to the final round of an Investment Sales associate position, even interviewing with the CEO of the firm. Unfortunately, the company told me that they couldn't hire me due to a non-compete agreement with that of the previous firm. For about three weeks, I called the previous firm, telling them that I had no client interaction, I wasn't FINRA licensed, and there was no reason that I should be subject to a non compete. The lawyers at the previous firm eventually agreed to push back my non compete from a year to only 4 months, but by that time, the firm I was interviewing with gave the position to someone else.

For three months, I applied, and applied, and applied to every and all firms I could, all while paying bills and watching my bank account near zero. I did more cold calling. And more emailing. And I got nowhere, until I found an opening for an Internal Wholesaler at a boutique mutual fund firm. I did everything I could in my power to convey how BADLY I wanted this job, and it apparently worked as I obtained the position. About 3 months in, my firm announced that it was on the market, and that it honestly had no idea what was going to happen to the people at the company. I realized that I had to do something. The sale was completed, and the new CEO came in and told us that in about 8 months there would be layoffs. I'm not one to wait for the axe to fall, so for the remainder of the year, I really hammered the phones, learned about the markets, and honed my Sales and Business Development skills while winning numerous awards and consistently ranking #1 across various metrics.

I figured because I had a year experience in Sales (including Cold Calling), I'd have a better shot at a few Investment Banking/PE firms. I revamped my cover letters. I called and emailed Managing Directors and CEOs of IB and PE firms directly....and, I found success (kind of). I had 3 interviews with two IB firms and one PE firm, but unfortunately the IB firms turned me down, and the PE firm made a very, very weak offer that reminded me of my downtrodden NYC days. Something in my gut kept telling me to wait.....

And my waiting paid off. Shortly after turning down the only PE offer I had, I got a call from a well regarded PE firm in NYC for an Associate level role. They told me they were particularly impressed with my Cover Letter, and loved my Business Development skills. After coming up to interview from 10 AM until 7 PM straight, I received an offer the same evening. I accepted the job, and moved up to the city where I live pretty comfortably (and I can now afford to both wash my clothes and eat dinner!). The people at this company are wonderful, the culture is amazing, and they're willing to train me in all aspects of transaction structuring/finance that I don't know. 2 years later, I'm where I originally envisioned myself to be.

All I have to say is no matter what is thrown at you, keep trucking on. Have an image in your mind of where you want to be, maintain it, and never give up on yourself. The two constants in my life through all of my tougher moments, was that I always believed that it was only a matter of time before I would attain what I wanted to, and I also always said "yes" to every opportunity and risk presented to me. The Universe does not work on your schedule, but it will work for you...just give it time.

Hope this helps!

This post is for all of you out there who have failed to secure that all-important front office IB job that you were craving, and settled for the middle or back office position.

All is not lost yet ... really not lost ...

Let's face it, the majority of users on WSO desire front office IB jobs or something better (PE, HF, etc.). However, we don't get what we always want. This leads us to settle for other roles in the hope that one day we could make the transition to the front office (the odds of this happening are miniscule)

So it's 2004, Brad's got a pile of rejections from all the BB's for his dream IB job. He's worried that he'll have to head back home to Eastern Europe and look for a job. Attending a Semi-Target in the UK was not enough. He thinks maybe he did not network enough, thought the school name alone would get him through the door. All rookie mistakes, which he would not have made if he had access to WSO. Unfortunately, he had never heard of WSO while he was in University.

Eventually Brad moved back to Eastern Europe and was able to secure a middle office position at a boutique IB. However, Brad's boss was nice enough to let him attend certain meetings that would help him in his search for a front office role. Brad never got that desired front office offer, but he did make some very good connections and friends over his 5-year search.

Back to present day, Brad is no longer in the financial sector and now works in the FMCG sector (fast food to be precise). Neither is he flipping burgers nor does he own a few locations of a particular fast food franchise. Brad has built an African fast food empire. All this was possible because of his network of connections and friends he made during his time in Eastern Europe. So together with two of his connections, the "three amigos" set out to revolutionize fast food in Africa (a relatively untapped market). None of the three had ever done business before, in fact the only two common things among the three was that they had a desire to succeed and they all came from the financial sector.

As of yesterday, Brad had this to say:

I just dropped a huge f****** deposit on a brand new Gulfstream G650

Monkeys, let the networking games begin!

ALL THIS IS BECAUSE OF NETWORKING.

NETWORKING MATTERS

DISCLAIMER: This article is based of an interview with a family friend. He did not want to disclose too many personal details, hence, the name

Brad

Every other part of the story is factual.

This post is for all of you out there who have failed to secure that all-important front office IB job that you were craving, and settled for the middle or back office position.

All is not lost yet ... really not lost ...

Let's face it, the majority of users on WSO desire front office IB jobs or something better (PE, HF, etc.). However, we don't get what we always want. This leads us to settle for other roles in the hope that one day we could make the transition to the front office (the odds of this happening are minuscule)

So it's 2004, Brad's got a pile of rejections from all the BB's for his dream IB job. He's worried that he'll have to head back home to Eastern Europe and look for a job. Attending a Semi-Target in the UK was not enough. He thinks maybe he did not network enough, thought the school name alone would get him through the door. All rookie mistakes, which he would not have made if he had access to WSO. Unfortunately, he had never heard of WSO while he was in University.

Eventually Brad moved back to Eastern Europe and was able to secure a middle office position at a boutique IB. However, Brad's boss was nice enough to let him attend certain meetings that would help him in his search for a front office role. Brad never got that desired front office offer, but he did make some very good connections and friends over his 5-year search.

Back to present day, Brad is no longer in the financial sector and now works in the FMCG sector (fast food to be precise). Neither is he flipping burgers nor does he own a few locations of a particular fast food franchise. Brad has built an African fast food empire. All this was possible because of his network of connections and friends he made during his time in Eastern Europe. So together with two of his connections, the "three amigos" set out to revolutionize fast food in Africa (a relatively untapped market). None of the three had ever done business before, in fact the only two common things among the three was that they had a desire to succeed and they all came from the financial sector.

As of yesterday, Brad had this to say:

"I just dropped a huge f****** deposit on a brand new Gulfstream G650"

Monkeys, let the networking games begin!

ALL THIS IS BECAUSE OF NETWORKING.

NETWORKING MATTERS

DISCLAIMER: This article is based of an interview with a family friend. He did not want to disclose too many personal details, hence, the name "Brad"

Every other part of the story is factual.

In my previous AMA I didn't go as in depth about my past as I am going to go this time. But I think the story will definitely help someone out because it shows that you can accomplish a lot even with massive hurdles to overcome.

To keep it short I was a bit of stoner / drunk by the age of 17 and pretty socially awkward growing up. I was smart but not motivated to accomplish anything in life. I thought you worked hard bought a house and had kids and I never wanted any of that. I found happiness in smoking and drinking.

I got into a top Canadian University but life only went downhill from here. My addiction was so bad by this time that I spent almost no time sober and was using harder drugs. I would continue this pattern for many years and there were some very serious consequences to my actions that were difficult to clear up.

During these years, I dropped out, was homeless for 3 months, and worked primarily in the restaurant business as a food runner, bus boy, waiter etc. I worked multiple jobs and lived in some neighborhoods most people would be too afraid to step foot. I went to at least 3 rehabs over this time but stopping my use never lasted.

I eventually got a good job with the help of my parents. It started out as doing some very basic tech stuff which I was more than qualified to do. I even refused to program because I didn't see the point. I bring this up because I taught myself Perl in middle school but hadn't programmed much since and I had a knack for it.

I eventually started and was making great software for my employer. I got a real salary but nothing like what an MIT undergrad would get. It's not like the rest of the world was vying for my services. I eventually got hired by a tech startup (I thought this was super cool at the time) and small pay bump along with it. But I realized within a few months this wasn't the way to get rich. I got fired because I wasn't putting my all into it. My work was terrible I was just showing up to get the pay check. Which was great because I saved like 10k on a 60k salary in less than a year.

Getting fired was the best thing that happened to me. I realized I wanted a better salary. I wanted to make real money. I found out finance paid well and that my skills were in demand. I posted my resume and had so many companies and recruiters calling me I would just let the voicemails and emails pile up and I was going to pick the right place to work this time. Somewhere I saw a future.

I got hired at an AM firm as a tech contractor making 20% more for 20% less work and my work was on point. I spent the next year focusing on becoming a full time employee at the firm. I also realized that finance is very interesting - more so than programming. Within a year of starting there I was a full time employee with a fancy title and very good compensation and benefits when you consider I am not in NYC/SV. I was top bucket for my partial year and my next year. I was one of the only people to get a larger bonus even as revenue declined at the firm. While this was great I wanted to work on the financial side but I wasn't quite there yet.

But there was something else I could do. I decided to work on getting my cube moved to not only a much nicer cube, but a cube on a FO floor. Down the hall from the people I work with the most. I also got the FO manager to lay their cards on the table with respects to my future. They basically said if you work for it, it is yours. I also could have made them pull the trigger during the move but that would actually be worse in some respects.

Beyond that my project may be generating direct revenue in the not too distant future and hopefully enough to put me in a very strong position. I hope this motivates someone who isn't doing well in life.

During this time I got married, bought a house something I never thought I would do. I didn't think I would even live to 28.

If you think you can't do something consider I started my job at the AM firm going cold turkey off methadone. I had quit going to the clinic so I could go to work earlier since I knew PMs are in the office well before market open. Not full withdrawal since I was already tapering but enough to feel the pain in your nerves and the anxiety crawling down my skin. I knew to just keep my head down and suck it up.

While taking the time to clean and organize my desk after a hectic 4-6 weeks engaged in a deal, I came across my old "WSO ib interview Guide" and a few other interview materials I used in the past. Seeing these old packets of paper made me realize how grateful I should be instead of being annoyed about how I put in hours of work on a deal that ultimately fell through the cracks. Fueled by my reminiscing, I wanted to take this time to share my story and open the floor for any Q&A.

I am currently a PE analyst at a fairly well-known industry-specific buyout shop and here is my story...

I attended a fairly well known private high school where most of the students ended up in ivy universities. However, due to my own undoing, I ended up at a non-target university in a remote part of the country. There I set myself up to go to med school. But like most students who start off with the dream of being a doctor, I realized that it wasn't my cup of tea. I eventually switched gears and decided to go with a liberal arts degree. Fortunately, the new major I ended up with had a significant quant focus, which helped tremendously in getting me to where I am now. But more importantly, my first full-time summer job was what really change my life.

My first full time job during the summer was nowhere near as glamourous as one might expect from an Ivy League student. My first job was in the pits of a restaurant. I dealt with the grimiest and nastiest things you could ever imagine at a crappy restaurant. Despite being paid minimum wage for working past midnight and smelling like garbage after work, I learned more about myself than I would elsewhere. I realized how much I loved money. Coming from a lower-income family, I never really had the luxury of having nice things. So when I got my tiny paychecks every two weeks, it was the best feeling ever. I also learned that I never wanted to end up working with my hands doing manual labor ever. I wanted to sit in a nice air conditioned room and work an office job. While I didn't realize this then, these two realizations about my own self would propel me into the situation I am in now.

Returning to school after my time at the restaurant, I made it a priority to find an internship in an office. Luckily, I was able to spin off my quant knowledge from my classes to a consulting internship. This was not your MBB but rather a small start up that assisted clients in developing marketing strategies based on data driven science. While the work there was most similar to what I did in school, I realized that real-life application wasn't all that exciting. I was putting together decks to recommend X, Y and Z but the client would never execute it without having a financial or strategic reason to do so. This is where I discovered the career path of finance. Most decisions are never made without a financial reason. So I set off to try and break into some finance role in the hopes to drive the decision making processes at a firm. This was fairly daunting since I was not in the business school at my university and not one of my relatives could provide insight (the closest to finance would be an uncle who is a public accountant).

Heading back to school this time around, I tried to put together a strategy on how to get a finance internship. Whenever I tried to apply through my school's careers page or online job sites, I couldn't even apply since most finance internships required that you have a major in a business-related study. Luckily, I was able to close this gap by saying that I was "going to" get a second major in economics (close enough!). I took a few econ classes to back up my claim of grabbing an econ major and started to apply. While most firms rejected me outright, one F500 company hired me on as an intern in their capital planning group. At that point I was so excited that I finally broke in.

Enter the first day of my finance internship. I rode my way up to the top floor of the building where all the finance people worked. I felt like a king going to the top floor. Doors open and what I saw wasn't that glamorous. The office floor was lit by a dim soft yellow fluorescent light and it was so quiet that you could almost hear the guy at the furthest cubicle chew his gum. Not to mention the tall cube walls. To keep thing short, it was fun at first but soon got boring. I wanted something with a faster pace with more interaction between folks.

So I networked my way trying to find the job that fit my wants. Enter private equity. I met a guy who worked as a portfolio company manager who worked for a PE shop. He gave me the quick n dirty 30 minute run down of what PE was. Most of what he said blew over my head but when I went back home, I research the shit out of it to get a general understanding of what it was about. After keeping in touch with this guy, I eventually landed an interview with the PE shop in their investment team group. I got the spot along with someone from an M7 B-school. The experience was great. Got to build models from scratch, read CIMS, see how investment professionals screen investments, put together memos and do their diligence. In the end I didn't get a full time offer. Neither did the B-school kid. I was now a senior without a full time job lined up. I panicked. I had to go back out and find a job.

But with three solid internships on my resume it became fairly easy to land interviews for back/middle-office finance roles. But I wanted something more exciting. So after I got a full time offer at a firm and job I settle for, I went ahead and delayed my graduation my senior year. This way, my expected graduation date would suggest that I was still a junior. With a robust resume in hand, I started to network with all the bankers I interacted with during my PE internship. I'd say 80% responded but it only took one guy at a BB to go out of his way to pull me in the loop. He got my interviews. Since we've worked on a deal together at that point, he just asked me the generic why iBanking questions and after 2-3 phone calls with VPs and Directors, I made it to my superday late December my senior year. After acing the interviews, I was on my way to the coveted summer analyst gig later that summer. At that point, I called HR at the firm I signed a full time gig with and reneged. I then delayed graduation by a semester to make it official (didn't sign up for any classes so didn't have to pay extra in tuition).

The summer analyst opportunity was fantastic. I met a bunch of people who I could relate with. Ambitious young folks who just wanted to do their best to be the best. Many of whom I'd consider good friends were met there. We stayed up late, stayed out late, and held our breath together when the day came for full time offers to be handed out. Having had more experience and direct working experience with the IB team from my previous PE internship, I had it a little easier. The work was a bit easier and I caught on quicker but that's really because I had an extra year of practice. I ultimately got the full time offer and was wined and dined by the associates and VPs to get me to sign ASAP. After negotiating an earlier start date, I was ready to sign.

The day I was ready to sign the paper, I got a call from the PE firm I interned for. They essentially wanted me back as a full time analyst. They knew I had an offer with the BB (they supported me and even pulled a few strings). What was a straight forward answer of "do I want to do IB full time" became more complicated... "IB or PE?" I ultimately chose PE for a variety of reasons - 1) more intellectually challenging, 2) better pay, 3) better work-life balance and 4) personal reasons. So here I am as an analyst at a private equity firm looking back at what got me to where I am now. While I worked hard, thoughtfully planned things out and hustled, many have helped me get to where I am now. So that being said, I am open to answering any questions you fellow monkeys have for me. I'll try to respond as best as I can.

Cheers~

Hi everyone - this site provided immeasurable help in my journey to break into finance. I realize this post may only apply to a small group of you monkeys, but I think I can be most helpful by discussing my transfer process and decision to switch schools at the undergrad level. Since the deadline for apps is past due and decisions come out in the next month, my post focuses more on the decision than the application aspect, but I am happy to answer all questions.

My story:

I became interested in business & finance senior year of high school, but my freshmen through junior year grades were terrible, and despite crushing standardized tests, I got rejected by all the top undergrad business programs. My freshmen year I attended a top-100 school and had a great experience there, meeting many upperclassmen who were incredibly influential in my development. I threw in some apps to schools in the 5-25 rankings range but after getting accepted I was nervous about the prospect of throwing away a year and starting from scratch. On the final day I had to put down my deposit, I made a gut decision to accept. I immediately focused on hitting the ground running, both from a social and career development aspect. After arriving, I was in disbelief about the quality, quantity, and passion of student-run groups on campus. Getting deeply involved helped me make friends and assimilate quickly, but took a toll on my GPA. During finance recruitment, nearly every BB and consulting firm recruited at our campus, so the process of landing a front-office roll was straightforward but challenging nonetheless (I'll be doing IB).

My advice:

The network, recruiting, quality of student groups, interesting/intelligent students, and brand value of being at a top school are immeasurable. If you have the choice, take it and don't look back*

The downside:

Being at a non-target forces you to know more and hustler harder than everyone else. There is far great personal reward and pressure to improve by being an underdog. I didn't understand the importance of this until switching. *If you do switch, protect this mentality at all costs.

I went to a prestigious private high school where lots of students are placed into Ivy league and other target schools across the nation. However, I gave zero f*cks in high school and was addicted to video games. I was naive into thinking that I could pull a 3.0 and get into a good college based on the reputation of my high school. I was almost expelled for doing so poorly my junior year and was given a letter that stated I must show improvement. As a senior, I watched as my friends got into good colleges and the rejection letters started piling up for me. I was ready to accept a letter of admission to a no-name business school when fortunately, I was taken off the wait-list at a top 70 undergraduate business school. For me, that was enough. I was extremely grateful. Watching on the sidelines as my peers succeeded really motivated me. I consider this to be my life's turning point and what lit the fire under me.

From here, I studied hard in college and got involved. I joined a fraternity and really expanded my social circle. Despite all of the parties, I refused to go out until my work was completed. I pulled a 3.8, won a writing award and really flourished at my university. However, it wasn't enough. I knew that I wanted to pursue a career in finance and understood that transferring to a "target" school would help me get there. So, I did. I sent out apps and ended up at a West Coast target (think UCB, UCLA, USC, Claremont). I was quick in understanding that sacrifice is neccessary to succeed.

At my new university, I wasn't involved. I got complacent. I made the same mistake and believed that with a decent GPA and the brand name, I would land a decent job. Wrong. Coming into my junior year, I had NOTHING decent on my resume. Making matters worse, for the summer I had to go back home (not a financial hub) to finish up some credits so I could graduate on time. I coasted, hung out, and worked at my old part time job.

Enter senior year. I quickly realized how far behind I was. I discovered WSO. I began interviewing for finance positions. In the Fall I applied to everything including corporate finance, corporate banking, commercial banking, F500 companies, etc. I'm not joking when I state that my first ever face-to-face interview was during my senior year of college. It was terrible. I had no experience and clearly lacked the knowledge as well.

Fast forward to spring semester. I managed to land an internship in the very beginning of spring at a search fund. It is here where I realized that I wanted to get into private equity / investment banking. Due to the leanness of the firm, I was given a lot of responsibility in terms of deal sourcing and research. I began applying again and practiced, practiced and practiced more on my interview skills. I went through interview guides and brushed up on my technicals. I picked up a finance minor. I estimate that I did over 30 interviews throughout this period. I got lots of experience and improved a lot. I was lucky and managed to lateral my search fund internship into a gig with a well-respected PE shop in California. With this internship, my resume finally began to fill out.

I cold called over 100 boutiques in California with some success. Most banks were looking for interns in the summer and not full-time analysts. I was a little discouraged but continued to press forward. I finally managed to secure an interview with a well respected boutique just last month for a full-time position. I spun my private equity experience into a decent story and did well in the first round on campus. I attended their super day and during the ride back home, I received a call an hour later with an offer. I plan on signing my offer sheet sometime this week.

Moral of the story... Don't give up. If this high school slacker can do it, anyone can do it. And remember, luck does play a role. I was extremely lucky so don't get discouraged. Sometimes you just have to be in the right place at the right time so up your chances by being persistent. Thank you to anyone who actually took the time to read my entire post. Feel free to ask me questions. I would love to offer any advice that I can. Cheers guys!

I'm currently at Washington University's Olin Business School studying Finance, with a second major in mathematics, and a computer science minor. While this school seems great on several academic fronts, it certainly seems to lack name recognition given how competitive the program is. Not to mention, it definitely lacks a lot on the social front compared to many of the Ivyies and schools like UMich. I want to work for a BB, and there are a fair number of current seniors who are going to work for BBs on Wall Street, but it seems most of these individuals had to do a ton of networking.

Do you guys think transferring to a school such as UMich, penn (art/sci), dartmouth, or cornell, would do much for me in the job search?

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Relax, that's where they evaluate if they want you as a possible employee or not. Vocational training will help you learn the skills you may need in less time with a much smaller investment. The tests are timed for you personally so it is possible to get acquainted with actual test conditions.

Something else to consider being a pharmacy technician could be the hours you need to work. Leading pharmacies are licensed and certified and you also get less expensive costs, privacy, medical information and convenience once you shop. Part of the improvement in national health originates from conscious changes in lifestyle ,however some is also attributable on the availability of health enhancing medications.

The tech will enter orders, verify orders, process requests for insurance and patient information among other things. Many require math and science coursework, and prospective students should be aware of what those prerequisites are and whether or not they meet them. It is tough to acquire pharmacy merchant account from a normal plastic card processor.

Location and the sort of employer are the final factors in determining just how much pharmacists make. When I asked the tech about this new action she stated that yes, it is a new policy which it is often a "law" that all pharmacies must adhere to. They are also in charge of inspecting the operational management of dispensary and manufacturing units and providing a platform to improve the pharmacists' role to prescribe medicine independently.

Identifying causal factors that increase mortality in breast cancer patients and cause relapse may help, according to the Canadian pharmacy. You can access the ASHP training directory at accred. In addition to holding you back hydrated it is possible to use h2o for other things.

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Online pharmacy drugs usually do not fall on this category. No, not the canned meat variety - spam is similar to the unsolicited mail that you receive in the mail box, just in an electronic form. An impartial pharmacy close by accepts prescription and through-the-counter orders and delivers them discretely to office.

Potatoes and onions are the ideal source of vitamin B6. This means that those who drop beyond school early and quickly obtain a GED might still stop eligible to work as a New Jersey pharmacy technician. Doing so keeps the threshold to better employment opportunities open.

A wholesale purchase will prove very much helpful if you are having large family. The survey says that should you use this sort of medicine to cure the long curable, incurable and curable diseases, the cost with the medicine will likely be about 50% lower that this brand medicine. Meadow's Pharmacy is another great shopping spot year-round.

CVS Pharmacy must count on prescription drug sales to remain in business, but Wal-Mart doesn't ought to add a huge markup to the prescription drugs they sell. Factors staying taught in educational facilities regularly variations, what a fact. Most drugs need to become stored at exact temperatures, so one from the things pharmacists learn included in pharmaceutical quality training may be the necessary steps to keep the facilities clean and in compliance with regulations.

The narcotics will almost always be kept inside a safe that merely the pharmacist has access to. Patients are likely to exhibit unknown symptoms difficult to diagnose and treat. Some pharmacies will pay much a lot more than others.

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There are certain skills required to get a job in this position. This listing is ranked by those which are the greatest risk to people, as they not just send out spam, but other harmful Internet threats like malware, botnets, and pharming scams. There are a handful of websites that offer toll free number in which you can contact in case there is any query or further verification.

Potatoes and onions are a fantastic source of vitamin B6. Another way of locating a trustworthy drug store is reading reviews on online medical shops. Yet work in pharmaceuticals is quickly becoming one with the hottest jobs in America, and the road to success can be both easy and convenient.

Let me take that you comparative analysis department. With the recommendations of acclimation online system, the decree and non decree anesthetic and medicine is cautiously delivered to customers. Experience helps increase salaries for pharmacists whether they stay with a similar employer or not.

The moon sheds her subtle relation to all on this, adding towards the variables. You might also check out "Physician Assistant Is a Top Healthcare Career. If possible try to use exactly the same pharmacy just as much as possible.

As i am going, pharmacists continue being given increasingly more responsibilities within the health care system. With over twenty-five programs to appear at, graduate degrees range from Pharmacy and Health Professionals to Business Administration and Information Technology. If you sense like you'll relatively go to your campus than get pharmacy instruction around the net, there have become a several choices.

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Complete an approved program for pharmacy technicians (see Sources). No, not the canned meat variety - spam is much like the spam that you receive inside mail box, just in an electronic form. Buying medicines from online pharmacies saves considerable time, energy and cash.

You could give them a call the eyes and ears of a pharmacist while they provide a range of support services which help pharmacists fulfill their primary responsibilities. An Internet pharmacy is simply an online store; an online site that sells medicines on the web. " Another great article to adopt a look at is "Why Should I Become a Pharmacist.

Let me take that you comparative analysis department. Pay for Pharmacy School while using Help of Federal Student Aid. Experience helps increase salaries for pharmacists whether they stay with the same employer or not.

"(3) The Washington Post(4) commemorated the closing using a write-up that contained just a bit of Schadenfreude. Fear not, eventually you will know just how to handle different kinds of problems that can come about. They are also in charge of inspecting the operational treatments for dispensary and manufacturing units and providing a platform to enhance the pharmacists' role to prescribe medicine independently.

In a hospital setting, pharmacy technicians will do many from the aforementioned tasks along with some specific towards the hospital. If the trouble is not treated with an extended time period, it may lead to serious complications including cancer. Their mission would be to find methods to improve their patient's lives by lowering stress and adding a bit of mind as to what can certainly be a hard to manage experience.

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I know it's a jungle out there guys. It's tough for people just graduating to find jobs, but it's even tougher for those in the work force and those with a non-target educational background to break into Finance (let alone work in a competitive sector). This story is a testament to ALWAYS maintaining the conviction in your mind that your circumstances are not reflective of who you are. If you maintain your self belief, know that everything will play out in your life as intended, and express gratitude towards others, you can literally accomplish anything you want to. I never used to believe this stuff, but because of how my life has played out, I can honestly say it's true.

So how unlikely was my chance of success to begin with? I'd say it was enormous. I originally attended a non-target Undergrad as a Biology major, I've never taken a Finance class in my life, and I graduated with a GPA around a 3.2. My Freshman year of college resulted in my grades tanking (and set a pretty substantial trend) as I faced the possibility of being homeless and not being able to afford tuition. When I graduated and realized I didn't want to become a doctor (and that I really wanted to break into Private Equity), I had to figure out the next steps in my life. How was some Bio Major going to break into PE and Investments from the get go? I simply picked up the phones. I made lists of firms near me, and cold called. Success rate? 0. Got no email responses, got no call backs, nothing. In order to pay my bills, I continued working part time as a Pharmacy Technician while also working full time at a "factory" type Pharmacy from 3:30 pm until 11:00 pm at nights. It was hands down one of the worst experiences my life, as I was surrounded by people that were thoroughly negative.

One day when I was on vacation with my family, my friend gave me a call and told me his operations department were looking for people. It was at this moment that I knew that I had to take the first step to break into Finance. Within two weeks, I managed to secure an Interview, secure the job, and I moved up to Manhattan to work. I had about 800 dollars in my bank account. I slept on a twin sized foam mattress on the floor in my friend's Studio, and we split the rent three ways. The pay at my job was pretty terrible, and some days I had to balance between washing my clothes or eating dinner. Shortly thereafter, I got a terrible case of Walking Pneumonia, and hit a 103 degree fever. I clearly remember on one particular day, the walk back from the subway to my shared studio was one of the most difficult things I've ever done; I legitimately remember thinking that I might die as the rain completely drenched me on the walk back. Looking back on it, it's probably one of the moments I appreciate the most, as I was the most unhealthy, broke, and unhappy I'd ever been in my life.

After a couple months, the firm I was working at was slammed with a number of scandals, and my roommates decided to head back to their respective homes. There was no way I could survive in the city without living on the streets, so I started applying to firms back home (now that I had a few months experience in NYC).

I made it to the final round of an Investment Sales associate position, even interviewing with the CEO of the firm. Unfortunately, the company told me that they couldn't hire me due to a non-compete agreement with that of the previous firm. For about three weeks, I called the previous firm, telling them that I had no client interaction, I wasn't FINRA licensed, and there was no reason that I should be subject to a non compete. The lawyers at the previous firm eventually agreed to push back my non compete from a year to only 4 months, but by that time, the firm I was interviewing with gave the position to someone else.

For three months, I applied, and applied, and applied to every and all firms I could, all while paying bills and watching my bank account near zero. I did more cold calling. And more emailing. And I got nowhere, until I found an opening for an Internal Wholesaler at a boutique mutual fund firm. I did everything I could in my power to convey how BADLY I wanted this job, and it apparently worked as I obtained the position. About 3 months in, my firm announced that it was on the market, and that it honestly had no idea what was going to happen to the people at the company. I realized that I had to do something. The sale was completed, and the new CEO came in and told us that in about 8 months there would be layoffs. I'm not one to wait for the axe to fall, so for the remainder of the year, I really hammered the phones, learned about the markets, and honed my Sales and Business Development skills while winning numerous awards and consistently ranking #1 across various metrics.

I figured because I had a year experience in Sales (including Cold Calling), I'd have a better shot at a few Investment Banking/PE firms. I revamped my cover letters. I called and emailed Managing Directors and CEOs of IB and PE firms directly....and, I found success (kind of). I had 3 interviews with two IB firms and one PE firm, but unfortunately the IB firms turned me down, and the PE firm made a very, very weak offer that reminded me of my downtrodden NYC days. Something in my gut kept telling me to wait.....

And my waiting paid off. Shortly after turning down the only PE offer I had, I got a call from a well regarded PE firm in NYC for an Associate level role. They told me they were particularly impressed with my Cover Letter, and loved my Business Development skills. After coming up to interview from 10 AM until 7 PM straight, I received an offer the same evening. I accepted the job, and moved up to the city where I live pretty comfortably (and I can now afford to both wash my clothes and eat dinner!). The people at this company are wonderful, the culture is amazing, and they're willing to train me in all aspects of transaction structuring/finance that I don't know. 2 years later, I'm where I originally envisioned myself to be.

All I have to say is no matter what is thrown at you, keep trucking on. Have an image in your mind of where you want to be, maintain it, and never give up on yourself. The two constants in my life through all of my tougher moments, was that I always believed that it was only a matter of time before I would attain what I wanted to, and I also always said "yes" to every opportunity and risk presented to me. The Universe does not work on your schedule, but it will work for you...just give it time.

Hope this helps!

This post is for all of you out there who have failed to secure that all-important front office IB job that you were craving, and settled for the middle or back office position.

All is not lost yet ... really not lost ...

Let's face it, the majority of users on WSO desire front office IB jobs or something better (PE, HF, etc.). However, we don't get what we always want. This leads us to settle for other roles in the hope that one day we could make the transition to the front office (the odds of this happening are miniscule)

So it's 2004, Brad's got a pile of rejections from all the BB's for his dream IB job. He's worried that he'll have to head back home to Eastern Europe and look for a job. Attending a Semi-Target in the UK was not enough. He thinks maybe he did not network enough, thought the school name alone would get him through the door. All rookie mistakes, which he would not have made if he had access to WSO. Unfortunately, he had never heard of WSO while he was in University.

Eventually Brad moved back to Eastern Europe and was able to secure a middle office position at a boutique IB. However, Brad's boss was nice enough to let him attend certain meetings that would help him in his search for a front office role. Brad never got that desired front office offer, but he did make some very good connections and friends over his 5-year search.

Back to present day, Brad is no longer in the financial sector and now works in the FMCG sector (fast food to be precise). Neither is he flipping burgers nor does he own a few locations of a particular fast food franchise. Brad has built an African fast food empire. All this was possible because of his network of connections and friends he made during his time in Eastern Europe. So together with two of his connections, the "three amigos" set out to revolutionize fast food in Africa (a relatively untapped market). None of the three had ever done business before, in fact the only two common things among the three was that they had a desire to succeed and they all came from the financial sector.

As of yesterday, Brad had this to say:

I just dropped a huge f****** deposit on a brand new Gulfstream G650

Monkeys, let the networking games begin!

ALL THIS IS BECAUSE OF NETWORKING.

NETWORKING MATTERS

DISCLAIMER: This article is based of an interview with a family friend. He did not want to disclose too many personal details, hence, the name

Brad

Every other part of the story is factual.