Whats up chaps? Long time lurker here feeling at a career crossroads. I work for a large multinational in Investor Relations and have been offered a role in the same company in a more senior, though operational, role - specifically, financial director of a country subsidiary. More money, responsibility. However, I would be taking another step away from the markets which was my entry point into Investor Relations. (I previously worked in Investment Consultancy for one of the big names). I have CFA level 2 and would be unlikely to continue with the charter if I take this position.
I see the new role as a bet on the company and my future within the organisation. However , IR is a great gig: lots of travel, interacting with the worlds top investors and the C-suite, with high internal visibility, no targets and a leisurely, academic association with the capital markets without skin in the game. Downside: my options for internal advancement in the function are limited as the dept. is small and boss is a lifer. Also, it can get a bit quiet between quarterly results which gets you thinking. And yet… I will have the option to move to other companies after a few year to get the top job in IR if that is the route i decide to pursue.
Just want to hear some different perspectives on this dilemma if you have the time.
Nobody? Would have loved it if the legendary bchad could have dispensed his wisdom. Damn its quiet around here. Unless it is a cfa vs mba or HCB oriented debate, you guys dont want to know. Carry on.
But anyhow - I think you just have to weigh your options. How much do the perks of IR mean to you? How much does staying with your current company mean to you? Are you romanticizing your current “market-participant” role? Are you assigning too much value to maintaining that role in your mind/on your resume? Will turning down the job-change affect your standing within your current company?
“financial director of a country subsidiary”, is not specifically -investment management. but i wouldnt be suprised if that job title is basically “Chief Operating Officer”- the highest operational post within an investment services firm. when i worked in PE the COO was a partner of the firm and was making millions, i dont think he cared that he got away from the markets and not a financial analyst.
if i had to choose between a management/executive role in operations over a junior scrub position in banking… i would just go for the money.
Yeah - that previous thread gives useful pointers. I suppose the view of IR within the company is that it is not a “real job” ie doesnt create real value or make money and is therefore a cost center. Part of this is ignorance, part rooted in fact. Certainly people dont view it as a springboard to much else as the company philosophy is : unless have a solid history of decision making you can only go so far. If i look like i am shirking the offer, it will impy an unwillingness to live or die by my decisions , ie hiding out in the safe world of IR. Within the IR dept, my boss will be happy to hold onto me as I do much of the heavy lifting in terms of analysis and prep work. Thanks Roberto, you have given me further food for thought.
My market participation is daily and interesting but lets face it, in that arena I am a bit-part player with a walk-on role, from other peope´s perspective. Exit opps as SS analyst within the sector are possible but far from guaranteed
@ Dvictr - I am not working for a financial services company. It is an industrial company and the role is managing the finances for a sizeable subsidiary.
However, the attraction of more money and a step up the food chain in terms of seniority is attractive. If it allows my continued rise in the company, maybe i will not lament that step away from the markets. It is just I have not done anything similar before so that “step away” implies considerable risk if it doesnt work out. (I am confident in my abilitiesm, but you have to consider the tail risk.)
I recently started in IR, but it sounds like your role is a bit more enjoyable. I feel like customer service - answering the same questions over and over.
I enjoyed strat / corp dev. better. Of course, everything looks rosey in the rearview mirror.
If you think you’ll enjoy the other gig, go for it. Honesly, who cares about “being in the markets?” If you’re making good money, enjoy your job, have tolerable people around you on a daily basis, and have good exit opps, then you’d be silly to turn it down.
I really don’t have all that much to add. It’s really a question of taste. You haven’t said why you want to be involved in markets vs. doing something else.
It sounds like maybe you like the opportunity to travel and meet people, which for me would be a big plus to the job. But more money definitely has its perks, and if you ever want to have a family or something, being in a role where you are not constantly travelling is very nice.