^ Finance is a safer bet? Maybe if you work back office in accounting it is.
iteracom Wrote: ------------------------------------------------------- > ^ Finance is a safer bet? Maybe if you work back > office in accounting it is. Good point, I’d put all my eggs in the screenplay/app development basket. /s
iteracom Wrote: ------------------------------------------------------- > ^ Finance is a safer bet? Maybe if you work back > office in accounting it is. Good thing my undergrad degree is in accounting. Finance is a safer* bet** than making a living out of a pipe dream screenplay or iPhone application. Yes. I support my previous post. I understand your statement in this business climate, but if I wanted to be completely safe*** I would work at the post office. *more safe than **risk ***protected from risk
^ LOL sorry I can’t help but laugh. work at the post office??? have you not seen the news the past few months on the post office? “Postal Service asks Congress to allow 120,000 layoffs, overhaul benefits” The post office claims it needs to eliminate 220,000 positions, or more than 30% of its staff by 2015, but only 100,000 of those positions can be made through attrition. The other 120,000 must come from lay offs, according to the documents. “”" http://money.cnn.com/2011/08/11/news/economy/postal_service_layoffs/index.htm
Your short and LT career aspirations doesn’t really match up. Comp, benefit, etc. is mostly related to HR and not investments. A MBA or a master would prob be a better bet. I think Cornell has a premier HR master program with good recuiting (i think its the master in industrial and labor relations). I would do some research and look into the program. A CFA is useless here.
I am the original poster and I am back. Thanks for all the responses. I really appreciate the feedback, and that is why I posted here. So let me clarify some things. * I previously thought I looked at the costs and the benefits when I entered social work. Which is why I am posting here, to gain more insight. I was just too naive and dogmatic when pursuing social work. I I knew I would not get rich, but I never thought I would be at an uncomfortable income level. Not too mention the heavy toll of the work. Interacting with people at a surface level - intermediate level is ok. Dealing with their problems indepth, is not favorable. *I have been told that I could make it with the quantative skills I already possess, and just enroll in the program MFin, w/o all the hassle since I already have a grad degree.(So says the admission people) They even mentioned someone with an elementary education background progressing through the program. The program I am targeting does seem to produce a high number of graduates who pass level I, even though it is not an ivy league school or at the top of national rankings. *However, I thought it would be prudent to solidify my quantative skills. Although, I would love to skip the time commitment part of that task. I thought I should do this because of the chance for a scholarship, and to try and make some impact on my credit/debt circumstances so that someone would hire me at the end. * I am not interested in doing any more sales intense roles * I realize the disconnect between my targeted short term jobs and my ultimate goal. However, I have been unable to move into general HR or comp due to my lack of experience. I have tried. I thought pursuing the CFA and working w/investments on the buyside for a short time would make me really attractive/unique as I transistion to my long term goals. Not, too mention what it could do for me (provided I become successfully employed )and my non work related desires. * Working in the energy industry is the icing on the cake, and how i feel I could be making an impact. Especially, if i manage to work in the renewable energy sector. * Lastly, I hoped my plan would at a minimum make me a heck of a lot marketable than what I am today So now does it make sense?
iteracom Wrote: ------------------------------------------------------- > ^ LOL sorry I can’t help but laugh. work at the > post office??? have you not seen the news the past > few months on the post office? > > “Postal Service asks Congress to allow 120,000 > layoffs, overhaul benefits” > > The post office claims it needs to eliminate > 220,000 positions, or more than 30% of its staff > by 2015, but only 100,000 of those positions can > be made through attrition. The other 120,000 must > come from lay offs, according to the documents. > “”" > > http://money.cnn.com/2011/08/11/news/economy/posta > l_service_layoffs/index.htm So maybe all you’re proving is that nothing is safe (even American debt, but up for debate), but things can still be more of a sure shot.
It is really hard to get a job on the buyside, you are brushing it off as if it were something you could sign up for. The only way into finance I see for you are working at RIAs (wealth management) in a sales oriented role, check out small shops in the area. MBA is an option too, but with a 600, a top MBA might not be possible, and you are already in debt…
icme Wrote: ------------------------------------------------------- > * I previously thought I looked at the costs and > the benefits when I entered social work. Think you’re in danger of repeating the mistake. Which is > why I am posting here, to gain more insight. I > was just too naive and dogmatic when pursuing > social work. I I knew I would not get rich, but I > never thought I would be at an uncomfortable > income level. Not too mention the heavy toll of > the work. Trust me, for many people in entry level positions, finance does not pay well. And the work load to try to get into front office is far more intense. > *I have been told that I could make it with the > quantative skills I already possess, and just > enroll in the program MFin, w/o all the hassle > since I already have a grad degree.(So says the > admission people) They even mentioned someone with > an elementary education background progressing > through the program. What school is this? It sounds REALLY crappy. Most people would define base level “quantitative skills” as Calc 1-3 and Linear Algebra 1&2. Most quality MFin programs require that base. I mean, I did a MS in Finance without the requirement and it was great, but I had to shake and bake a lot on the calculus segments. That being said, most quality programs are screening candidates out, not trying to draw them in with stories of “anyone can do it”. > The program I am targeting > does seem to produce a high number of graduates > who pass level I, even though it is not an ivy > league school or at the top of national rankings. Since most undergrad Finance majors can pass LI, the fact that your MFin program is using this as a benchmark is not encouraging. > *However, I thought it would be prudent to > solidify my quantative skills. Although, I would > love to skip the time commitment part of that > task. I thought I should do this because of the > chance for a scholarship, and to try and make some > impact on my credit/debt circumstances so that > someone would hire me at the end. Do you have some reason to believe doing these classes would land you a scholarship? > * I realize the disconnect between my targeted > short term jobs and my ultimate goal. However, I > have been unable to move into general HR or comp > due to my lack of experience. You will find finance, particularly front office roles 100x more difficult to break into than anything in HR. > I have tried. I > thought pursuing the CFA and working w/investments > on the buyside for a short time would make me > really attractive/unique as I transistion to my > long term goals. As Plantir stated, you have it @ss backwards here, getting into the buyside is not easy even for quality ivy candidates and typically takes several years in top front office roles to break into. Entering the buy side as an analyst to get into HR is like saying you want to play major league baseball so you can one day become a gym teacher. > Not, too mention what it could do > for me (provided I become successfully employed > )and my non work related desires. What’s the weather like in fantasy land this time of year? > * Working in the energy industry is the icing on > the cake, and how i feel I could be making an > impact. Especially, if i manage to work in the > renewable energy sector. This is all making sense now, you just watched Wall Street 2: Money Never Sleeps, didn’t you?! It’s funny because you’re referring to some of the hardest areas to break into in one of the hardest industries to break into as if you just need to find the sign up sheet. > * Lastly, I hoped my plan would at a minimum make > me a heck of a lot marketable than what I am > today Maybe, maybe not. If this were an interview, nothing you just said seems like someone who has their act together. > So now does it make sense? Oddly, less than it did. Look, if you want to do HR, do a masters degree in HR. Novel concept…
and Black Swan brings down the hammer. splat.
It’s true. People around here tend to be harsh, myself included at times, but the reality is that you are talking about making your way into some of the most competitive white collar jobs on the planet. If you were 22 with the same profile, sure, go for it. But at this point, it’s an incredible long shot. HR is much more achievable than the buy side.
this guy has no idea at all…
^ Yea people on various threads say I’m the: harsh a**hole. Of course, I’ve noticed most of the critics are new people with little or no experience… All life is a gamble, the big question is when to gamble and with what kind of odds. People win $300M+ lottery jackpots sure, but would you gamble 5 years of your life on winning it? no.
Yeah, I used to be the harsh guy, but I’ve gotten soft w/ age, so now I’ve passed the torch to the young bucks here on AF. Of course I still like to bust out of retirement every once in awhile when some good sense is needed.
Okay, I got the message loud and clear. They say when in doubt… So I had some questions and you all have answered them. It is now back to the drawing board. Sigh! But thanks again.
icme Wrote: ------------------------------------------------------- > Okay, I got the message loud and clear. > They say when in doubt… > > So I had some questions and you all have answered > them. > > > It is now back to the drawing board. Sigh! > > > But thanks again. Hey iceme, you don’t have to fade to the abyss. Let us know what you come up with. Another guy on here is making a documentary. I like the creativity that I’m seeing from some of the people on this forum and if you have ideas maybe it will spark thoughts into others on here. Up to you, but curious what you’ll come up with.
I say stick with what you know: find a better job in the non-profit sector. Potentially get an MPA or Masters in Non-Profit, depending on financial situation and what your current opportunities are in the area. It sounds like you just don’t like getting into the nitty gritty of people’s lives, but not all areas require that. Where are you located? If you are in or near a large city I expect you will have little problem switching roles. If you need more money then elevating your education on non-profit management and fundraising would be a reasonably efficient move towards that goal. I’ve work and still work with some non-profits and many of these guys do pretty well, albeit not front office finance money. Honestly , this groove seems to be a much more greased than even the HR route (at least from what you’ve told us).
How about things like masters in public health or public policy? Granted, I don’t know how that job picture is.
Palantir Wrote: ------------------------------------------------------- > How about things like masters in public health or > public policy? Granted, I don’t know how that job > picture is. What about getting a masters in some sort of education and using your social work background to become a sort of school therapist or guidance counselor.
Oh, and for what it’s worth most good finance roles entail sales to some extent. Typically the more you are related to bringing new business and maintaining existing business the higher pay and title. There are basically two ways to bring in business: 1) Be a great investor and have excellent investment performance. 2) Be able to instill confidence in the client/prospect, i.e. sales. Obviously there is a lot of overlap between these, but the takeaway is that sales is key to finance.