Hello, everybody. Have been following this forum a long time, but just enrolled. I need your opinion about my career path. I am originally from a former Soviet country, went to the USA to study. Studied both bachelor and master programs (finance/accounting) and finished with perfect GPA. After unsuccessful attempts to find job in the USA, got a job offer from PwC Turkey and started working there as an auditor. Hated the job, long hours, unneccsary workload, too much overtime and boring job, it wasnt for me. Quit the job after 7 months and came Russia to work as a management accountant in a small meat production company. First, want to improve Russian (have some Russian background) and also become familiar with a BRIC country. Took the Level III exam in June and expecting results. Although Ive always wanted to get into finance job(AM/analyst/trader), so far have been unsuccessful. Started preparing for CFA hoping that I would end up with a nice career in finance, but so far no luck. Im thinking about going back to school for PhD, maybe get into academia and become a finance professor. Im also thinking about taking FRM exams.
What do you think? Am I following a wrong career path? Why do I keep making choices that end up not satisfying me? Should I go back to academia? Please, give me advice.
I think if you really want to get into front office finance, you should find ways to be more creative - see if you can network your way in, offer to do a three-month internship or something like that, but you really have to show that you’re willing to do what it takes to getinto the field. Spending more time in school won’t help you. I suggest you read the two articles posted in my signature for more tactical advice on how to get into equity research or other front office roles.
There’s nothing wrong with academia. In fact, it’s probably more stable then industry, have your own hours, teach a couple classes here and there, do some of your own research on your time. I have a relative doing it, and he says his normal hours are 9:30 to 3pm and has tons of time to himself
You make almost no money for 4 or 5 years. Take that - $1 million opportunity cost!
Unless you are in the top bucket, job prospects are still not great. If you become a tenured professor at a prestigious university, then yes, your life will be great. However, most people don’t get that far.
Generally high competition/hard work. PhD programs are full of nerds. Particularly the programs with all those Asian imported students. Those guys work all the time. All. The. Time.
Of course, if you are smart and hardworking enough, there is good job security, prestige, (eventually) good work/life balance, etc. However, it’s not something you want to do if you are unsure of your life direction.