How easy is to get Executive Director ED(VP2 4 US colleagues) @S&T(sell side) at Global Markets in London?
VERY if you know tricks.
If you know how to play the corp. game and diversity card it is possible without qualification, weak education etc. Common misconception is it is difficult not being sb protégé.
Well, I was recruited by direct HR approach last year(typically for+VP grades)
However, I can call myself very lucky as HR on-board me although:
x I was disciplinary terminated @BofA in 15’ focusing on the last employer instead, recommendation. Lucky this hasn’t impacted my screening, most banks perform much detailed checks further in history!
x I’m 100% non-TARGET(Uni, MBAs, background etc)I have low(3.6/5.0) M.Sc. Marketing/Accounting of Eastern Europe UNi, non target even there, 2nd degree- but never finished back at home, started ACCA which failed after 1st exam, same goes to FCA etc.
As i’m not qualified at all(failed CFA, CA/ACCA, so bough cheap MBAs instead with 100% pass rates, HR bought this trick although like most here administrators /generalists with just meaningless elsewhere in financial services sector MBAs we are not considered as experts, in fact people hate being managed by sb like this as ppl like those tend to delegate all tasks, take others credits etc, lacking business acumen and technical skills - crucial to understand deals in more depth!)
An obvious trick was do buy instead MBA(nb fails those!) the cheapest London’s MBA(100% pass rates+ CMI incl. for free) nb cares, West London at the end my programme which I had to extended, luckily merged with City Uni - what confused HR as it is still same low quality with other slightly better label).
Most banks won’t even care about those, somehow GS/Morgan HR’s need tick this off for any promotion, won’t even consider it as any value as you can easily cheat and outsource most assignments to copywriters like most ppl did. Professional qualification in other hand requires sacrifice doing everything all exams by yourself, what was/is challenge for expats not fluent in English. Have you wondered why some EDs having very weak education like me, barely know how to draft an emails and overall suck in communication(now you have an answer) not to mention being threaten by more skilled co-workers?
x I do not have Russel Group(UK)/Ivy business diploma – nothing further from this in fact, as I have graduated mediocre accounting major in one of Easter European uni, not even the most competitive major to start with, this does not make sense hearing about top schools requirements at all.
- My background by no means wasn’t FO, as I came from generic op. Firmops, CA experience, never been involved in actually sells pitching, direct clients interaction, not like most transfers to FO coming neither Risk or Research, Finance nor Markets exp
x I’m not qualified – neither FCA, FRM, ACCA/CA etc, in fact Analyst, Assoc. I supervise are 2x more technical superb than me, as far my+15 YOE middle/back office operational support goes.
I have started ACCA but failed at 1 exam,
started FCA but failed, so MBA with impossible to fail(100% successful rate) at West London was my way around, especially as they merged it with City Uni at final study what confused HR even more and giving other label for quality same school instead.
x CHEAT TRICK there are MBAs and “MBAs”- I have completed the cheapest(budget limitation and language barrier) non-target(some called it Micky Mouse MBA) London’s MBA as typical those throw in meaningless CMI paper incl in price, both nb really cares but HR needs to tick this off – costed+£16k, which was later luckily merged with City Uni.
The main requirement was pass basic IELTS test(some might laugh)not like in professional MBA programmes(GMAT) not to mentioning LSE and rest Russel’s Group requirements!
Most of my colleagues @GS have graduated LSE etc(for £110k-140£k eMBA) however due to language, communication I was also forced to use extensive help copywriters(fiverr, gumtee lots of them to choose from) to pass final result. One of advantages MBA over restrict self-study qualification as many people and alumni was doing the same, due to work commitments or just pure laziness etc. MBAs are more restrictive due to their costs not level, as you will not be banking expert after 1year(18mths generic program for working professionals), of course, there are exemptions, not mine.
x My communication skills although average at the best, I have never studied English language as my 1st foreign language, nor eastern accent luckily hasn’t impacted my chances. I know it is huge obstacle in other FS sectors at senior level.
x Finally if I were representing a different gender, probably not meeting diversity targets(GS it is no surprise aims to influx% women giving us a bit blind eye, I wouldn’t stand a chance among male colleagues, with CFAs, LSEs etc)
Overall I’m so grateful and happy that I can lead own team and set own targets as well recruit people suitable for business and my management own personal goals.
“The firm is committed to providing equal employment opportunity(EEO) to all qualified persons …including race, nationality, gender, religion and age.”
Well dead policy, the reality is other way round. So much depends on people. I am keep telling friends that in this business critical thinking is disadvantageous, there is no space for too old, too experienced candidates, as they tend to create leaderships challenges and raising uncomfortable questions about sense and ways of doing things. Craftsmanship speed, accuracy are the most important in this role alongside soft skills managed(@ the end not the most knowledgeable or skilled is promoted!).I personally tend to recruit only young candidates, who are willing to make effort, work long hours and do not challenge supervisors causing unnecessary fractions. Why I would recruit sb you can possess a threat to my role in first place!
Ethics& Integrity: Neither GS nor my previous bank wouldn’t probably mind if I will admit that I’ve spent few years clamming council social housing benefits as well, living with my further family in their council flat and still work as Director(savings ‘000 in the process, just using loopholes).I simply used an opportunity as I was learnt doing at work and play the game.
x x x x x x
To summarize I am not exactly a raw model for junior colleagues(sometimes) better qualified and technically skilled on the job than me, in terms of neither technicality nor especially ethics at all, but as they came to me and once you are in, who cares!