I would suggest that he just finish his degree in CS and go from there. If I could do it all over again, I would actually get a degree in CS - specialize in software engineering and the sky is the limit. Tech is the future; finance isn’t what it used to be (IMO). In finance, there is so much competition, downward pressure on fees, increased compliance (cost and time); the whole industry is in decline.
Ya unless OP is really well connected with rich friends, COI etc, then trying to start in this business from the ground up would be a very difficult hill to climb. In Canada, @ RBC (our top bank) they hire about 100 new advisors each year. After about 3 years, maybe 20 are still in the business as advisors.
^It’s essentially the same here. If you work at an independent firm, you’re basically on an island so you have to do it yourself. But, those that make it to the 3 year mark tend to become pretty successful. It can be a lean three years though.
Thanks for all the help guys. I’ve decided against going this route.
I’d be much better focusing my attentions on Programming at this stage. After posing a similar question in regards to my grades and a future coding, I’ve received much more positive replies. Get my coding up to scratch, build a good portfolio, get an internship under my belt, interview well and jobs will come no problem. Not one “No chance”, kind of reply. More room for progression too.
Thanks, guys. The rude awakening was exactly what I needed. Better to find out now, than a year down the line.
I 100% think that is the best choice. Programming is in high demand and you already have some groundwork laid.
Yeah I’m learning programming because this finance thing seems like it won’t be a good future unless I can also command the machines. CS seems to be more based on skillset and not pedigree
yeah i agree with that. you can make really good money with online do it yourself cs programming and getting a certificate. seen plenty of people who end up working for tech or other big firms in their big data or programming dept making solid money (base salary higher than entry IB comp pack).
however, getting a coding job at hedge funds is a diff story. you need the skillset and pedigree as well. and they love grad degrees from fancy schools. but money is obviously much better. and very long hours that almost but not quite rival IB.
Hi OP, I don’t have much experience in Finance as I am just as young as you (a few years older), so i see things in a different perspective compare to the ppl that has already been at the top of the industry. I mean i dont disagree with what they said, but i think they’re looking at things from the top of the pyramid. The competition is nuts up there, so they’ll scrutinize ppl based on every possible aspects, so you’ll most likely to get washed off by not having solid academic record. But i wouldn’t say getting there is impossible, (50 years ago ppl think going onto the moon is impossible). Its really up to how much risk you’re willing to take and how determined you’re.
With that being said, i can relate to your story, cuz i have a very similar one of my own. I was like you, not doing good in school, managed to just pass every course with a mediocre grade, no internship, no Co op, basically no experience at all). And probably far tougher, (International student from a different country, wife was pregnant at my last year of University). I didn’t have a vision when i was in Uni, I wasn’t even sure what I wanted for a career. But that vision came later to me after i graduated, however i was just like you struggling to find a place that will hire me and hopefully help with my immigration cause. I started my career as an insurance advisor working on full commission(cuz that’s all i can get), and my boss was ripping me off at the same time, so the first year was pretty tough, i made just enough to meet my end needs. And later on i used that one year of exp to get a job in the bank and switched around couple other places until my current role( an analytical role). There was a lot of tough time in between and ups and downs in life. I realized what i lack after graduation, and took action to make up for it, CFA for example, I know i dont have a strong academic background, and with my Undergrad GPA, i probably wont be accepted to a good business school for master either, nor do i had the money for it. So I studied CFA like there’s no tmr, cuz i know if i want to keep my vision or my dream alive, this is the only way.
To sum it up, what i am trying to tell you and tell myself is, it’s ok to start late. (Donald Trump didnt become a president until he’s 70 whereas most of other president started when they were 50s.) But you have to be prepared to try extra harder to make up for the time you missed. At the end of the day you might still be judged for your past once you’ve reached the top of the pyramid. But anything before that, you should be just fine to get by with hard working. Overall finance is highly competitive, but with high competition also comes with more opportunities. Hope this helps.
Cheers