Entry-Level Positions For Aspiring Financial Analysts
Alice recommends investment banking or private equity/venture capital for undergraduates or graduate students seeking entry-level FP&A positions, noting that while the hours are long and stressful, those roles offer accelerated learning and exposure to multiple industries from the get-go, especially regarding financial statements. Ultimately, Alice took a corporate finance route as a financial analyst, but reflects that, "if I did know, I would've done it" referring to the investment banking or private equity/venture capital path.
Financial Analysis, Investment Banking, Private Equity, Venture Capital, Corporate Finance
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Alice Choi
Senior Manager, FP&A
The Bouqs Company
Occidental College
UCLA Anderson MBA
Economics
Consumer Packaged Goods (CPG)
Finance
Honors Student, Immigrant
Video Highlights
1. Investment banking is a great path to accelerate learning and experience multiple industries, especially if unsure about a specific industry.
2. Private equity and venture capital (PE/VC) offer awesome entry-level positions for experiencing different industries, with the caveat of potentially long hours (e.g., 80 hours per week).
3. Corporate finance, like starting as a financial analyst, is another path, and while it might not offer the same initial breadth, great managers can significantly contribute to career growth.
Transcript
What entry-level positions are there in this field that an undergraduate or graduate student might consider?
My path was different from many people's. What I recommend, if you're able to endure long hours and stress, is investment banking. It's a great path to go on for at least a couple of years.
Especially at an entry-level position, you'll learn a lot and accelerate quickly. If you don't know which industry to enter, investment banking offers experience in multiple industries. This allows you to figure out which one you want to pursue.
Another great option is private equity or venture capital. This is an awesome entry-level position to experience being in different industries. You'll learn a lot, and the hours will be very long; I've heard it can be 80 hours per week.
That wasn't the path I took, and you don't have to if you're not up for it. Corporate finance is what I ended up going into. My first job was as a financial analyst at Hot Topic.
I didn't really know about investment banking or private equity and venture capital back then. If I had, I would have pursued that. I've been lucky to have great managers who taught me what I need to know to be where I am today.
The benefit of being in those other fields is that you'll learn all three financial statements from the start. You'll learn about the P&L, balance sheets, and cash flow, likely in your first year. I think that's a really great choice for undergrad or grad school.