Love to be in finance but which part of finance?

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maisatomai's picture


I am applying to MS applied finance and I am required to provide short term goal and long term goal. I do not want to sound like a lost sheep by writing “I wish to go into finance industry” but I am not familiar with jobs in finance.
 
As a background, I have passed my CFA L3 and my GMAT is 750. I am more towards the analytic side and communication is not my strong point (I know it is very important in finance). Can anyone please suggest me what should I put as my short term and long term goal? Which part of finance am I more suited for after this MS applied finance course?

FrankArabia's picture

go for the part where the hot classy babes wear pumps and pantyhose……

itera's picture

If you so good at studying, why not do some research on it?
Find a direction in life!

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

ohai's picture

That’s why he is asking the question here - asking questions is part of research.

Anyway, to OP, the most important thing is that your application is credible - your goals need to fit with the rest of your background. What is your background? What did you study in college and where? Do you have previous work experience? Do you have any other skills that might be useful to some future career in finance? Also, which university are you applying to?

You can get useful information here, but you need to give us some information to work with.

“Be aware of this 40 year old men in our country.They suffer from mid life crisis and are always trying to be in the good books of young girls.” -Rahul Roy

Palantir's picture

Damn you passed L3 and you don’t know what area of finance you want to enter? Like what have you been doing this whole time?

Not all men were meant to dance with dragons.

itera's picture

I’m guessing OP is one of those people who are great test takers and can collect degrees like baseball cards while thinking that doors automatically open by doing so

Asking on an anonymous forum what your personal ST and LT goals should be?

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

The Righteous Hacksaw's picture

Yeah, I got my first job without any of that. I still don’t have those things. Why not just go get a job? F*ck school.

No Homo

maisatomai's picture

Actually my resume is here: http://www.razume.com/documents/23970

I am not a cert collector and knows all these cert are very minor compared to the actual stuff. The reason why I ask is that I really have no experience in finance (Went into education industry after I graduated). That why for ST and LT, I do not know which part of finance industry should I go into. I was sincerely hoping to get some help here.

The Righteous Hacksaw's picture

Yep, you are clearly a smart guy. You need experience. Start writing research. Get a job. Work hard and do your thing. I’m sure you will be all right.

Research sounds like a great place for you. Although yes, a lot of it involves flirting with CFOs and getting pseudo insider information. But for people that are good at that, they will usually need a guy like you to process what they find out so my advice is find a blonde with big tits and team up with her and you will be unstoppable.

No Homo

ohai's picture

Thanks for the resume. This is kind of a big career change. People are going to ask why you are doing this. You must have (good) answers to two questions: 1) If you want to work in finance, why did you become a teacher? and 2) How will your background help you in finance? Once you figure this out, your goals should be a bit clearer.

“Be aware of this 40 year old men in our country.They suffer from mid life crisis and are always trying to be in the good books of young girls.” -Rahul Roy

Palantir's picture

Maybe MBA is the only way for a career change like this. Idk though.

Not all men were meant to dance with dragons.

maisatomai's picture

Thanks a lot.

1) In university, I taught a lot of tuition. I knew I have a flair for it but too bad, it is too boring, repetitive and not challenging in school. <=This is the real reason. Do you think it is compelling enough? Can anyone suggest more compelling reasons than this?

2) I will go and really think about it. I think adcom will ask me about this

maisatomai's picture

ChickenTikka wrote:
Yep, you are clearly a smart guy. You need experience. Start writing research. Get a job. Work hard and do your thing. I’m sure you will be all right.

Research sounds like a great place for you. Although yes, a lot of it involves flirting with CFOs and getting pseudo insider information. But for people that are good at that, they will usually need a guy like you to process what they find out so my advice is find a blonde with big tits and team up with her and you will be unstoppable.

Thanks a lot. I think research is suitable for me. I will go read up and think about my future. Thanks for pointing me in the right direction.

ohai's picture

Ok. It’e perfectly reasonable to say “I thought I would enjoy career X because of A, but I was wrong because of reasons PQR. Finance has attribute A, but does not have PQR”. It’s important to address why you want to change careers, since this is the first question that anyone will ask. Maybe you can say that teaching involves interpreting information and giving it to other people in a way that they will grasp the material points. Research in finance is also about getting market information and giving it to fund managers in a way that they will understand the materiality to their portfolio. Admissions officers like BS like this.

“Be aware of this 40 year old men in our country.They suffer from mid life crisis and are always trying to be in the good books of young girls.” -Rahul Roy

bchad's picture

You’re a teacher but communication is not your strong suit??? Something doesn’t add up here.

And, BTW, what is “tuition”? I’ve never heard of that as a field of study.

I see nothing in the resume or the thread that says anything about why you like finance. So why don’t you tell us why, and then one can talk about the part of finance that might do that.

Yes, it’s ok to like finance because you want to make a lot of money at something. But that won’t differentiate you at all from all the other people who prefer having more money to less money. If all you are going to project is that you want money and will work hard at *anything* in order to do it, then sales is where you should be. If there are other reasons you’re drawn to the field, then maybe there is another place for you too.

You want a quote?  Haven’t I written enough already???

ohai's picture

“Tuition” in Singapore is not the same as tuition in the US. In the US, it’s the fee for taking university classes. In Singapore, it is extra tutoring that kids take outside of school. For instance, let’s say some kid is taking math in high school. However, his parents don’t think that the high school math classes are good enough. So, they send him to evening classes that teach the same thing - these classes are referred to as “tuition”.

“Be aware of this 40 year old men in our country.They suffer from mid life crisis and are always trying to be in the good books of young girls.” -Rahul Roy

LBriscoe's picture

Why do people have to go through this song and dance about why they want to work in finance? The aswer is clearly to make a $hit ton of money.

FrankArabia's picture

i read a few postings, here is what i gathered….

1) he is a nerd
2) he doesn’t really know the major areas of finance or anything about it for that matter (I base this on the fact he has an undergrad in the subject, you should at least know which subjects interests you)
3) he is a good test taker based on great memory, not actual understanding

bchad's picture

@ohai, thanks for the clarification. I did not know that. We just call that “tutoring,” although if it’s not one-on-one or at least not small groups, I guess we don’t have a special word for it.

@LBriscoe: the reason to ask is to differentiate oneself from other people who also want to make a “$hit ton of money.” From an employer’s perspective, if you’re going to have to pay a lot for someone’s work, it’s better if you have someone who’s motivated by more than just the paycheck… it gives you better leverage, or at least a better indication of the likelihood of having to fire someone or have them quit.

You want a quote?  Haven’t I written enough already???

FrankArabia's picture

money can only motivate you by so much once you past the brink of survivor….i think getting hot classy babes motivates ppl more than money ever will…..

LBriscoe's picture

@Bchad: I agree and disagree. I agree in that you need to have some long bs story about how you always wanted to analze distressed fixed income products as employer do weed out applicants that do not have a specific job target. But I disagree that the employer is concerned about whether the candidate has an interest in the field. I truly think that the reason people demand such a specific target in a field so broad is to inflate the hiring manager’s ego. He/She wants to reinforce their own notion that what they do for a living is special and unique.

Someone with no experience should only be able to narrow down the question of what do you want to do in finance to “something in sales” or “something analytic.”

Palantir's picture

Idk, I do this stuff because I think it’s intrinsically interesting and I’m good at it as it perfectly fits my personality and skill set. Not just money, I could have gone into medicine or something which would have also paid well.

Not all men were meant to dance with dragons.

FrankArabia's picture

LB….idk, but interest in the subject is problably a top 3 requirement for me…..if you’re not interested,you’re not going to go that extra mile…i rank hard working, interest, experience over intelligence

Palantir, you couldn’t have gone into medicine…who you fooling? might as well say you could have been a male model or a porno actor….

ohai's picture

Well, I enjoy the “intellectual challenge” also. However, this characteristic is not intrinsic to finance only. I could have gone to graduate school and experienced even greater intellectual challenge. The difference is that graduate students are poor. Finance pays well, and it pays well now (as opposed to something like medicine, where you will only get rich after 8 years of slave labor). So for me, money was the differentiating factor. It’s not the only positive thing about working in finance, but it was the relevant factor in my decision.

(Other peoples’ POVs are also valid. This is just what happened with me.)

“Be aware of this 40 year old men in our country.They suffer from mid life crisis and are always trying to be in the good books of young girls.” -Rahul Roy

The Righteous Hacksaw's picture

I just wanted to get paid to travel around the world getting strange ass. This career facilitated that dream.

No Homo

itera's picture

FrankArabia wrote:
LB….idk, but interest in the subject is problably a top 3 requirement for me…..if you’re not interested,you’re not going to go that extra mile.

I totally agree with this. Stellar test scores, GPA and a top school doesn’t mean crap unless you show you are passionate about finance.

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

ohai's picture

Hmm. I would avoid generalizations like that. What if you are not passionate about finance itself, but are passionate about the things that result from financial success? Wouldn’t this also provide motivation to succeed? Interest in any field, like true love, can be faked for prolonged periods of time. Who is to say that successful finance people don’t go through the required motions year after year, primarily because they want the big check at the end of the year?

Take Serena Williams as an analogy. Recently, she admitted that she “doesn’t actually like tennis all that much”. So, how did she become one of the best female tennis players in the world? Simple: she likes winning. In other words, she likes a derivative of success in tennis, not the game itself. Who is to say that there are no Serena Williams’ of finance? That is, people who are not passionate about “the game”, but are addicted to money, prestige, and the feeling of beating their peers?

“Be aware of this 40 year old men in our country.They suffer from mid life crisis and are always trying to be in the good books of young girls.” -Rahul Roy

Palantir's picture

ohai wrote:
Hmm.

Take Serena Williams as an analogy. Recently, she admitted that she “doesn’t actually like tennis all that much”. So, how did she become one of the best female tennis players in the world? Simple: she likes winning. In other words, she likes a derivative of success in tennis, not the game itself. Who is to say that there are no Serena Williams’ of finance? That is, people who are not passionate about “the game”, but are addicted to money, prestige, and the feeling of beating their peers?

Highly questionable she meant it. It seemed more of an “I’m this good, and I don’t even care”. Too cool for school!

Not all men were meant to dance with dragons.

Palantir's picture

FrankArabia wrote:

Palantir, you couldn’t have gone into medicine…who you fooling? might as well say you could have been a male model or a porno actor….

Have you seen the hot classy babes in med school!?

Not all men were meant to dance with dragons.

ohai's picture

Palantir wrote:
Highly questionable she meant it. It seemed more of an “I’m this good, and I don’t even care”. Too cool for school!

I think she was actually sincere. However, even if she was acting cool (which is definitely possible), it’s not hard to find other examples. All you have to do is walk into a random bulge bracket IBD office and bear witness to all the greased up people with pink ties. Are you telling me that these clowns are in investment banking for the intellectual challenge? Is it mentally stimulating to stay late in the office because your MD is filling out expense reports? No! They are here for the money and social status. And yet, they are paid hundreds of thousands, possibly millions, of dollars a year. To me, that constitutes “success” in finance, even if the people are motivated by materialistic reasons.

“Be aware of this 40 year old men in our country.They suffer from mid life crisis and are always trying to be in the good books of young girls.” -Rahul Roy

itera's picture

^ but I can immediately counter that with the lazy argument. If you want to put on a show and lie to me about how motivated and passionate you are about finance, then make an effort to show it. What does that tell me if you won’t even make a fake effort ??

ha ha!

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

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