How to Get That Job on Wall Street?

Let’s consider options and opportunities.

One never had to complain about the lack of those dreaming to work on the legendary street “there, and nowhere else”, despite of scandals and gossips “wrapping” Wall Street.

It doesn’t matter if it is explained by the "glamor" of the place name, or a celebrity status of employees involved therein - the important thing is that talented people willing to test their skills and potentials as analysts, traders or managers are always enough on this legendary street. It is clear that Wall Street can not give anyone a clear guidance for actions, there are no and can not be instructions that, with a wave of a wand, would bring you from a cozy home armchair or straight from school into one of the offices located in the lower Manhattan. To get from a shipboard straight into a ball immediately, without applying any efforts - the history is not aware of such precedents. However, there are several important points, which a dreamer of the seemingly inaccessible should pay attention to.

Americans are fond of saying: "You can not catch a fish, not knowing anything about the places where it is found exactly." Thoughts that there is an abyss between you and the world of Wall Street can only lead to nowhere. While still in a high school, begin to get acquainted with the universities, which students are often "recruited" by investment companies interested in bright minds. First, they are eight universities of “Ivy League” Association, as well as such famous universities as Chicago and Georgetown Universities. It is enough to periodically review the ratings of universities - and you will find there many "leaders" on the export of young talented people to the main US stock market.

Despite the fact that almost all investment banks with one voice state that considering a candidate, they are primarily oriented not on its specialization (which allegedly can include a very wide range of different disciplines), but on the abilities, talents and skills, the reality is: the graduates who have bound their lives with the sphere of economy, business and mathematics are most popular on the Wall Street market. Take a note of the fact that "recruited" students are usually offered a list of vacancies, limited to a specific area (usually it is a sphere of banking and investment services and trade), while there are gaps in the field of market research, and very few are capable of filling them.

Internship can also be a trip to the Wall-street-life. The procedure of selection of candidates for trainees can not be considered formalized. An applicant chooses them on its own, thus giving the candidates a chance to express themselves on all sides.

If once you didn’t have a chance to start a career in the "stellar" street - it does not mean that you now can not find a place there... Doctors, for example, very often change their profile and become excellent analysts in such areas close to them, as the market of medical devices and pharmaceutical products, and former industrialists turn out to be successfully involved as bank employees. In fact, many banks deliberately structure a research group on the principle of "promiscuity", believing that such an approach will be more productive and efficient.

The MBA degree obtained at a prestigious university is one of the easiest ways to get to Wall Street. Very often, banks actively recruit prospective employees out of those who have MBA and simultaneously deny bachelors, not even considering them as candidates for a position.

MBA is a great opportunity for many people who, in due time, either were not particularly interested in working on Wall Street, or did not have the required connections. Such a variant is also possible - did not gave a social status, that would be acceptable to an employer. MBA opens all roads for such people.

It is important not to talk about one’s abilities and skills, it is important to prove them. Of course, the student’s internship experience or the MBA degree will increase your chances of getting on Wall Street. But if you have worked before in consulting or in any other sector of interest to Wall Street, one mention of this in the CV is obviously not enough. Employers want to see detailed reports, which show the hard work and professional growth.

If it so happens that you do not have either MBA degree, or the necessary experience - do not despair. There's always hope. Many banks do not require strict qualifications of workers of such segments as trading, IT-sphere or HR-departments. Your persistence multiplied by luck will lead you to an interview and an interesting offer for sure.

Do not be afraid to start small. Starting as a secretary, personal assistant or a back-office employee, after some time, you can well "grow" up to a serious analytical work.  

For people who are really willing to work on Wall Street and able to sacrifice a lot for that - this goal is achievable. Get rid of illusions - Wall Street does not hand out generous salaries with or without reasons.  Hours are long, the work is difficult, and a lot of stressful situations. This work is not for uncompromising nonconformists, but for people who can work in a team and contribute to the overall corporate development and growth.