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My EDJ Experience

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Sep 15, 2009 11:54 am

[quote=Ronnie Dobbs]Still, you don’t get the free lunches from the wholesalers remember. You get the free lunches downtown at the park.[/quote]

clever

Sep 15, 2009 12:46 pm

[quote=NumbersGeek]

=/ got the letter… No goShattered my dream on 9/11What to do differently?

[/quote]



How the hell did you not get hired?

Sep 15, 2009 1:26 pm

[quote=voltmoie]

[quote=Ronnie Dobbs]Still, you don’t get the free lunches from the wholesalers remember. You get the free lunches downtown at the park.[/quote]

clever
[/quote]

sh*t! I’m working!!!

sorry to hear you didn’t get the job numbers…

Sep 15, 2009 2:30 pm

[quote=NumbersGeek]
=/ got the letter… No go

Shattered my dream on 9/11

What to do differently?

[/quote]


Another Jones hater is born.


You could try a headhunter.  They may coach you with interviewing.  You could always apply with bancofamericainvestmentsmerrilllynchpiercefenner&smith, inc.  I hear brokers are leaving that firm in droves. 

Sep 15, 2009 3:07 pm

[quote=Moraen] [quote=NumbersGeek]

=/ got the letter… No goShattered my dream on 9/11What to do differently?

[/quote]



How the hell did you not get hired? [/quote]



I think EDJ is fairly selective; if the person will go along with their corporate philosophy. I talked to one rep and he was Jones this…Jones that, so I got the hint on what they were looking for.



Their JD Powers is a little misleading since they hire people like themselves. You don’t see many disenfranchised Mormons since they are door knocking to find like minded people.

Sep 15, 2009 5:35 pm

I guess its back to grad school… i’m not willing to get a job outside of finance… and financial advisory is my last straw, the only sector actually hiring. But EDJ was the only firm I was willing to work for.

Maybe after I get a PhD in finance, firms will say i’m qualified. Rofls!


Sep 15, 2009 5:45 pm

You didn’t want it that bad then (to be an FA).



Everyone gets rejected. It is the person who is willing to do anything, to get in there and fight for it. Sometimes rejection leads to a better path.

Sep 15, 2009 5:50 pm

[quote=Moraen] [quote=NumbersGeek]

=/ got the letter… No goShattered my dream on 9/11What to do differently?

[/quote]



How the hell did you not get hired? [/quote]

I have no idea. HR seemed to like me, the advisors signed off on good recommendations. I have a clean background so that should have passed. I’m going to try again.

Sep 15, 2009 6:01 pm

EDJ is the only firm your willing to work for?  And you’re going to grad school to look better for them, I assume for the next time you interview with them?  You may want to have an open mind about other firms, EDJ certainly isn’t the industry benchmark for financial planning/advising.

Sep 15, 2009 6:08 pm

[quote=3rdyrp2]EDJ is the only firm your willing to work for?  And you’re going to grad school to look better for them, I assume for the next time you interview with them?  You may want to have an open mind about other firms, EDJ certainly isn’t the industry benchmark for financial planning/advising.[/quote]

I meant out of the brokerage firms. The rest of em seem shady with their boiler room tactics, high monthly GDC requirements from the start and one place even said my first 3 months’ of accounts would go to another advisor. The wirehouses don’t hire newbs like me. So I looked around and found that EDJ had a good sales training program, requirements weren’t like 5k GDC in month one or you’re fired, and a lot of people on this board recommended it.

I’m going to grad school to try to find a job. Once again. Not to make myself look better for EDJ. Maybe after a PhD in quantitative finance, i’ll write an application for the people who chose not to hire me. RAWR! J/P. I’m going to try again… before grad school

Some people sent some e-mails recommending another route. And I thank them, I will try their recommendations and see where it goes.

EDJ really, in my opinion, made a mistake on this one. I’m ready to kill it in the market. 2 unpaid financial advisory internships, 1 sales internship, and a market risk internship. As if that doesn’t state how badly I want to make it in this business.

Sep 15, 2009 6:11 pm

Are you yankin’ our chain?


Sep 15, 2009 6:21 pm

[quote=KensLoveChild]Are you yankin’ our chain?



[/quote]

HA! I wish I were! This is the only job that I have focused on in the last month. To be honest, I have never put this much effort into one position at one firm, ever.

Sep 15, 2009 7:26 pm

[quote=NumbersGeek]



I guess its back to grad school… i’m not willing to get a job outside of finance… and financial advisory is my last straw, the only sector actually hiring. But EDJ was the only firm I was willing to work for.Maybe after I get a PhD in finance, firms will say i’m qualified. Rofls!

[/quote]



You will be overqualified at Jones. They won’t hire you with Ph.D. in finance, as it will be easier for you to find a better job somewhere else.



Seriously, give up on Jones. Go back to grad school and do something different.



I still can’t believe they didn’t hire you.

Sep 15, 2009 7:32 pm

You’re not telling us something.  After seeing the level of “talent” in my class they hire almost anyone.  Used car salesman, thugs, guys who used to work on tanks, ex-bankers, etc. etc.  ANYONE.  Either something is hitting on your background or your answered the questions like crap.

  My VERY serious advice is apply at MSSB.  Look at all the tools they are hiring now. Anyone can get a job.
Sep 15, 2009 8:37 pm

[quote=voltmoie]You’re not telling us something.  After seeing the level of “talent” in my class they hire almost anyone.  Used car salesman, thugs, guys who used to work on tanks, ex-bankers, etc. etc.  ANYONE.  Either something is hitting on your background or your answered the questions like crap.

  My VERY serious advice is apply at MSSB.  Look at all the tools they are hiring now. Anyone can get a job.[/quote]

Haha. I'll give it a shot and see where it goes.
Sep 15, 2009 8:40 pm

Hey Geek…don’t feel bad…you had a better chance of getting into Harvard then to get hired by EDJ!

  j/k Moraen   ...for those who thought I was being serious!
Sep 15, 2009 9:11 pm

Here to tell you, another piece of paper isn't going to get you hired at Jones. They don't care if you have a friggin' Ph.d.

If I were you, I'd badger them until they gave you a specific, actionable reason why you weren't hired. Tell them again how bad you want it, and that you'll reverse that issue if you are aware.   Or just go to grad school. But they aren't going to hire you in two years because you've got an MBA. It isn't valued at Jones.
Sep 15, 2009 9:22 pm

[quote=LockEDJ]

Here to tell you, another piece of paper isn’t going to get you hired at Jones. They don’t care if you have a friggin’ Ph.d.

If I were you, I'd badger them until they gave you a specific, actionable reason why you weren't hired. Tell them again how bad you want it, and that you'll reverse that issue if you are aware.   Or just go to grad school. But they aren't going to hire you in two years because you've got an MBA. It isn't valued at Jones.[/quote]

If I were to go to grad school, i'd just end up in operations at some broker dealer or investment bank. PhDs are scarce and they'll take anyone with a PhD in math or whatever. Living on a 20k/year budget doesn't necessarily entice me. That's why I want to get into advisory. I figure if I work my butt off and pull down some nice commissions going into year 2-3, that i'll be ok. I have the 500 day war printed and on my wall. All I need is a B/D.

Opportunity costs, you know. 4 years for a PhD and the added debt. Yeah i'll make 100k+ on exit but that's 4 years of making nothing.

This is the business of making money. I don't care about the degrees, the title, etc. At the end of the day, all I want is the green and a lot of it. There's a saying in NYC, "It aint about the title that you have, its about how much money you make."

Sep 16, 2009 2:30 am

[quote=NumbersGeek]

…I’m going to grad school to try to find a job. Once again. Not to make myself look better for EDJ. Maybe after a PhD in quantitative finance, i’ll write an application for the people who chose not to hire me. RAWR! J/P. I’m going to try again… before grad school
[/quote]

You realize, you’re all over the place. a Quant PhD and Financial Advisor are like entirely different career paths…Sure, they are both in banking, but I can’t imagine one doing the other.

If you like socializing with people and working with different people every day, FA is a great choice. If you like spreadsheets and Matlab, Quantitative Finance is great!!!

Sep 16, 2009 3:21 am

You know i’m not so sure about EDJ’s hiring thus far. I’ve referred 4 people. One having a finance degree, one having a PHD who is already selling insurance, one having massive sales experience, and a college grad…They only picked the 23 year old with no experience. Sometimes I think they are smoking crack.