But I Want to Go Into Finance!

I just got this e-mail from a WCW reader:

 

“Dear Alexandra: When I was younger, my parents, who used to watch the old TV show Family Ties, used to call me Alex P. Keaton.  I’ve always had a knack for numbers.  I got my first savings account when I was in second grade, and I’ve been playing the stock market since I was in high school.  I’m a senior in college now, and it has always been my dream to work for one of the big banking firms.  But with the economy being the way it is, everyone is saying that’s a big mistake.  What should I do?”  - Eric, New Hampshire.

 

Here’s what I think, Eric.  If you have the analytical chops and know as a result of an internship or part-time job that you actually like the professional world of finance, then you should go for it.  While it’s true that banking firms are in the doghouse these days, they are still essential engines of our economy, and the industry will bounce bank.  Just recognize that it might be more difficult for you to get an entry-level position than in years past.  A lot of firms have currently put the brakes on mass recruiting and hiring until things settle down, so instead of just showing up to an on-campus interview in a freshly-laundered suit, you will have to hustle like those who want to break into other competitive industries, like entertainment and publishing.  For example, do you have older friends who are working in finance now?  Shoot them an e-mail to see how they’re weathering the current crisis.  Re-establish those bonds now, so that when it comes time for your job search, you’ll have some solid leads. 

 

Most people who have their dream jobs have had to contend with their fair share of naysayers.  Do in your heart what you feel is best, for no single career path comes with a lifetime warrantee.   For the time being at least, the finance industry needs gifted young professionals like you to right the wrongs of the last few years.