If you’re currently completing a degree in business, accounting, finance, economics, or mathematics, you might have your eyes set on one place in particular; Wall Street. The pantheon of the global financial bigwigs has been the most popular destination for top graduates in these fields for decades now, with little sign of its luster fading […]
Essential Tips for Landing a Wall Street Job After College
If you’re currently completing a degree in business, accounting, finance, economics, or mathematics, you might have your eyes set on one place in particular; Wall Street. The pantheon of the global financial bigwigs has been the most popular destination for top graduates in these fields for decades now, with little sign of its luster fading any time soon.
The reasons for this aren’t too difficult to guess. Wall Street is home to some of the most prestigious firms on the planet, including Goldman Sachs, JP Morgan Chase, Citigroup, and Morgan Stanley, as well as key satellites for international institutions such as Deutsche Bank, HSBC, and Barclays.
Meanwhile, the average starting salary for banking graduates on Wall Street now stands at an eye-popping $85,000 a year, higher than the starting salary for almost any other industry.
Unsurprisingly, landing a Wall Street job right after graduation is easier said than done, with many grad schemes getting thousands of applicants per place. In order to stand out and land your dream grad job on the street, here’s what you need to do.
Choose Your Position
The first step is to have a very clear idea of the positions you wish to apply for. Wall Street is not made up solely of investment bankers (although this position remains the most prestigious on the block). Statistical analysts are in huge demand these days, while jobs in sales, operations, cybersecurity, and recruitment have all grown substantially over the past decade. Figure out where you would be the best fit and tailor your applications accordingly.
Learn Your Firms Inside and Out
Wall Street is not like any other workplace on Earth. It is made up of a few dominant financial behemoths that have very distinct cultures, value systems, and traditions. It is up to you to learn these and figure out where you would thrive. Some firms, such as Goldman, value fierce loyalty above all else. Meanwhile, smaller stalwarts such as Dominick and Dickerman value discretion and the ability to speak the language of the 1%. Learn the unique features of the firms you are applying to so that you can boost your chances.
Bolster Your Language Skills
Wall Street is much, much more international than it was even in 2007 before the recession hit. All of the major players have significant operations overseas and require candidates that are able to assist in these key markets. That is why you should work now to boost your foreign language skills and stand out in your job hunt.
By learning just one of the key languages of international finance, especially German, Mandarin, French, or Spanish, you can gain a competitive edge against other applicants. If you are still studying, now is the time to take advantage of your student discount to access cheap online language tutoring from experts that will give you the skills you need to succeed. These sites are completely flexible so it’s up to you to decide when is best to learn as they work around your schedule.
These three simple steps will help you get ahead and land your dream job on Wall Street. Once you have your foot in the door, your lifetime career prospects will grow immeasurably.
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