Barmaid to Banker - Career Path Advice please?

ViolentFridays

I am not completely sure that this is the right place for this but it seems a reasonable place to start.

I graduated 2 years ago in 2013 from an average university with a 2:2 in BBusines and i am still working in pubs. I have beem drifting, I've no excuse, I didn't know what I wanted to do and i was lazy. I now know that I want to end up in Financial Management or Investment Banking (don't laugh!). Is there anyone able to give me any advice? Have i left it too late and do my grades suck too much? Is a masters worth the expense or will i end up in the same position? Is it too late to apply for graduate schemes and roles? Are internships jjust for students ? How would you go about it? I am already receiving comments that my cv is very varied (with barwork, admin volunteering and uni pplacements) so am mindful of wasting yet more time and money and adding more irrelevant roles to my history

Apologies for any typos, getting used to a different phone

asajj

Have a look at apprenticeships - some banks offer them. It is never too late and I have never been asked for my grades (I'm an immigrant and never had an entry level job here so slightly different) but some companies may prefer higher ones.

If your CV is too varied, remove some things especially unrelated ones.
Check banks website for their own guidance on graduate schemes too.

tomtontom

For the level you are aiming at I doubt many graduate schemes will accept a 2.2. Some may overlook it if you have a relevant Masters or an explanation for your low classification. You may have more options in retail banking, their criteria is likely to be lower.

I doubt you'll get far with an apprenticeship as the employer would not get any funding for you.

Nicki

I also don't think you can just leave things off your CV when applying for jobs in the financial sector which is very tightly regulated so I would check that out before taking that advice.

Personally, I don't know anyone in investment banking with less than a 2:1 other than admin staff or PAs who also have degrees but not necessarily as good as the bankers. Financial management may be more achievable though.

asajj

I work in an investment bank and it has a useful apprenticeship program and I believe it is a good start to gain experience.

Sorry when said to remove stuff I was more like thinking hobbies etc as some people put them to fill up their CVs. I'm not suggesting to leave jobs out.

19lottie82

Can you gain a position as a cashier in a high street bank (no experience required, but the pay isn't great)? If you work hard I'm sure you can climb the ladder.....

Wantobeasaver

asajj wrote: »

Sorry when said to remove stuff I was more like thinking hobbies etc as some people put them to fill up their CVs. I'm not suggesting to leave jobs out.

I agree, you don't need to have everything on your cv, i.e I worked as a dog walker whilst a university student and don't include this on my CV as not at all relevant for current job applications.

OP-have you had a friend/relative look over your CV? It might be a bit too bitty.

InsideInsurance

In my banking days the only graduate scheme that you could get on with a 2:2 was in Facilities Management, all the other schemes required you to have a 2:1 and with Investment Banking being one of the most popular they had the pick but that doesnt mean you had to have a 1st to get in.

At the same time though, existing employees could apply without any degree as long as they were "graduate quality" and had support from their regional manager. This is how I made my leap from call centre to change management, though I didnt actually go onto the graduate scheme as through the application process I was offered a secondment by one of my interviewers and that was a better offer than the grad scheme.

Unfortunately this was over a decade ago now but I doubt the world has changed that much and it may be an option to explore.

jobbingmusician

If this is a long term plan, could you do an OU degree and improve your class of degree? It should be quite quick as you (presumably) will have loads of credit exemptions due to already being a graduate.

(Or a masters?)

lovehackney

To answer your questions:

Have i left it too late and do my grades suck too much?

Firstly, graduating in 2013 is not too long ago, especially if you graduated in your early twenties. You have however likely missed out on most graduate / intern roles for this year - generally the applications for these open in the September of the year before, so you would be applying this September to start in 2016.

However, realistically with a 2.2 you are going to struggle to get onto a graduate scheme - even at a retail bank (I have several friends who applied for graduate schemes (in 2011 and 2012) at retail banks, and whom now work there). The graduate schemes ask for a minimum of a 2.1 - and your CV will most likely just be screened out at the application stage. Not to depress you too much but 68% of people graduate with a 2.1 or first. So from a purely academic point of view, there are a lot of people who have better grades and so on paper look better than you. Getting an employer to overcome that will be difficult (sorry but it's the truth).

Is a masters worth the expense or will i end up in the same position?

I'm not convinced a masters is worth the expense -most places will still ask you for your undergraduate degree grade, as they are wise to people doing one year masters courses to get a better grade. Also, not to sound harsh, but if you only got a 2.2 in Business, how confident are you that you could get a 2.1 (or 1st) in a masters degree? What subject would you do?
(As a side note, I'm not sure you would even be able to get student funding for a masters, and fees are now £9,000/year so could you self fund, with no guarantee of a well paid job at the end of it?)

Is it too late to apply for graduate schemes and roles?

See above - generally, yes it's too late to start this year

Are internships jjust for students?

No, some internships are specifically for graduates, or older people. Although, there are fewer of them.

How would you go about it?

Realistically, I think you are going to struggle to get on to any internship or graduate scheme, and not just because of your grades. Nothing about your work experience indicates you want to work in banking or that you would be good at it (not saying that's true, but you need to assess yourself dispassionately and think why would someone pick me over someone better qualified / educated / experienced?).
I think you need to make a list of all the banks / financial institutions you want to work for, and then visit their careers pages. They nearly all have graduate / intern sections which will very clearly tell you what the minimum academic requirements are and when to apply. If you find one that accepts a 2.2, then great! go ahead and apply.

If not, I think it's time for Plan B which is trying to get a job at a bank in a lesser role (not necessarily as a cashier, there might be head office roles available). Try and get one in the right bit of the bank - e.g., getting a job in Barclays retail bank and eventually hoping to move to Barclays capital will be harder than trying to start in Barclays capital. Then I'm afraid there's nothing else for it but to work your socks off!! Network, keep checking the internal jobs boards, do as much training as you can, etc., and then hope a job comes up.

If I'm perfectly honest though I think the chances of that working are quite slim. You might be able to work your way up in the retail side, but actually becoming an investment banker is a bit of a stretch (especially if you want to be front office - i.e. actually doing deals etc, not just in operations processing them)

Can I ask why you want to be an investment banker? Have you any idea of what the role really entails? I had two close friends working for Goldman Sachs. One of them left after 3 years on the graduate scheme to become a teacher. The hours were terrible, it was stressful but also boring. The other one is still there and currently in therapy (as recommended by his GP) for stress. Just something to think about! Not everyone's experience of course, but just be aware of that!

I've read this back and it all sounds quite negative - I guess I just want you to go into it with your eyes open, but not to stamp all over your dreams!

P.S. things might have changed a bit since I graduated, but to give you context: I am 25, graduated in 2011, went into a grad job as did vast majority of my friends, so I like to think I know a bit about this!

lovehackney

Just found this - might be helpful

https://targetjobs.co.uk/careers-advice/career-planning/317737-how-to-job-hunt-if-you-get-a-22-when-you-graduate