Advice, please!

Water Cooler Careers
#1

Hi guys,

I’m on a terribly confusing job search, and trying to figure out the best path forward. Any thoughts would be highly appreciated.

A bit of background first (this will be a bit lengthy).

I went to a top-20 liberal arts college in the US, majored in Economics (minor in History!).

While I was at college, some research in an Econometrics project led me to believe pricing in sports prediction markets was biased. This quite accidentally turned into a pretty successful subscription led, sports analysis business. There was a bunch of ex-ante prognostication, as well as ex-post analysis on offer and it became very popular, very fast. I ran this business for a little over 5 years. Ex-ante prognostication was independently verified and the results were quite extraordinary (returns as high as 745% with a maximum drawdown of 39%).

However, the career I envisioned for myself was always in Equities. By this point, I’d accumulated reasonable capital - and I’d been trading equity markets with some success. In the last year of running the aforementioned sports analysis business, I completed all three levels of the CMT program (technical analysis). While there were useful elements there, I realized I needed more advanced qualifications to move further in the field of finance. I spent the next 2 and a half years completing the CFA Program - I traded and invested alongside - again. pretty good results. The investment portfolio generated returns of nearly 30% in a year, TR of 13% on the index - a little due to tracking error of various forms, but still considerable alpha there.

At the end of this journey, I’m looking for the rigor and discipline that an equity research role would provide me. Frankly, I’m willing to do whatever it takes. But, in my job search to date (it’s been about 6 weeks, I had a few things i had to deal with late last year) - I feel like a square peg in a round hole. I’m not exactly this or that. My career path has been very obvious to me in my head, but recruiters just don’t seem to get it :))

I’m currently located in India. I’m happy to move to Dhaka if it means a job I’d enjoy. But, moving countries with an Indian passport can be challenging. This is a genuine passion - the only job in the world that I want. So, any thoughts on hpw to get from where I am to where I want to be?

  1. Should I be applying for entry level jobs or more senior roles?

  2. What’s your experience of job websites. Are they effective, or is it all about networking, networking and then networking some more?

  3. Is this hopeless without an MBA? I’m pretty confident about the skill set and fairly convinced that the value add in terms of ability for an equity research role would be quite limited. This is certainly not my preferred option.

I’d really appreciate any input! Thanks!

#2

It sounds like you’ve done very well blazing your own path and you seem to have the entrepreneurial mindset. In my opinion going to work for someone else would likely be a downgrade (but you would know your circumstances better than me).

#3

I’m not sure what the job market in India (or its surrounding countries) is like at the moment, but if you were a US applicant, I would say that your chances would be meaningfully better if you demonstrate some true commitment to pursuing a career in this field. Usually, this would mean enrolling in some kind of relevant master’s program, if not an MBA. Otherwise, the perceived risks in hiring you - might not fit in culturally, might wander off to do your own thing again, manager will be berated for hiring a non-standard applicant if you don’t work out for any reason - will deter most employers.

#4

lol @ looking for 6 weeks …

it might take a while

#5

that post was too long to read. keep it concise.

just my 2 cents.

#6

sound advice. let me try again.

BA in Economics (US top-20 liberal arts) (2003-2007), Passed all three levels of the CFA (Dec 2013-2016) + All three levels of the CMT (2011-2012) (technical analysis)

Ran an extremely successful sports analysis and prognostication business from 2007-2012., with an independently verified track record that generated phenomenal returns for subscribers (745% with 39% drawdown).

Solid trading record from 2012 to 2015. Significant alpha generating investment record since 2015. Both while risking personal capital.

Looking for an equity research role. Would love some input on the following

  1. Should I be applying for entry level jobs or more senior roles?

  2. What’s your experience of job websites. Are they effective, or is it all about networking, networking and then networking some more?

  3. Is this hopeless without an MBA? I’m pretty confident about the skill set and fairly convinced that the value add in terms of ability for an equity research role would be quite limited. This is certainly not my preferred option.

Thanks, guys.

#7

I can see the argument, but frankly - I think i’m a pretty ordinary entrepreneur. I just love analysis, and this was a completely untapped space so had to do it myself.

I’d much rather work in a structured environment. My first commitment is to knowledge and learning; then to have as large an impact as I can. I don’t believe entrepreneurship would help me achieve either goal. But, not quite sure how to convince employers of that.

#8

Just feels like a really big price tag and kind of a leveraged bet. I can see the practical value; but I’d much rather do the MBA 2 years down the line (even if I’ll be a dinosaur at 34/35, by then).

#9

If money is not an issue (heck I’d even take out a loan), with your background you’d be a good candidate as a career switcher at one of the top MBA programs, you don’t want to wait until you are 34/35 to apply because by the time you enroll you’d be 35/36 and that’s way above the average MBA age and puts you in the executive MBA range which you might not qualify for. That’s probably your best bet as employers tend to go with more traditional candidates that fit the mold rather than taking a chance on someone with an unusual background such as yourself.

#10

Not that I doubt your background, it’s pretty interesting imo, but most employers don’t like taking bets like that in North America. If you intend to stay in India then I’m sure you could convince someone to take you on, but things are a little more regimented here (see ohai’s points). To be fair, even if you were local US or Canadian with that background it would be difficult without an MBA (though I have known people to break into S&T like you.)

#11

If your returns were so awesome, then why did you stop doing it?

You’re interested in an equity research role, but believe the value add would be quite limited. Sounds contradictory. How could you apply for a senior role if you have no experience? Entry level is where you’d be.