I’ve seen Charterholders hold these jobs, but are they really just book builders at the end of the day with no chance of exit opp into research? My dad is in nationwide business development for a F500 firm and has a pretty chill lifestyle, low income tax rate, and gets to travel, eat, entertain on company dime. Ideally, I’d like to stay on the analytical side of things but I am seeing open jobs that do not look to bad on the investment sales side. Thoughts?
Don’t let “research” stymie you mang. As an example, although I have never met the guy at the time, a friend of a friend of mine quit his buy side research role to work for a real estate developer. This move basically cut his salary by more than a third. The developer is based in Bronx, converting warehouses and empty lot in the Bronx to rent regulated residential. This was 10 years ago. The friend of a friend runs his own real estate company with two funds focused on value add and development with hundreds of millions in AUM.
So you are an external wholesaler? From the little bit of research i’ve done on it, seems like a pretty sweet gig. However, do all external jobs require internal experience first? If that’s the case, I would probably pass. Not interested in “paying my dues” in an internal role first for a few years.
No, institutional salespeople aren’t referred to as wholesalers. Wholesalers call on advisors. I don’t. And, yes, typically you need to be an internal for 3-5 years before going external.
Edit because it’s Friday and I try to be nicer on Friday: I don’t really get you. You’ve made a few posts here asking about a wide variety of jobs, but you have, seemingly, very little knowledge of the industry. What is your background? How to you plan to break into sales, PE, research, etc. if you’re not willing to “pay your dues”? That’s going to be the case no matter what area you pursue. How old are you? There’s a aura of millennial entitlement about you.
Sorry, what I meant was I already have three years of research experience, one in alts and two in ABS. Therefore, switching to an internal wholesaler position for 3-5 years before getting an institutional sales role probably wouldn’t be something I am interested in. It def. sounded like I have zero experience and wasn’t willing to “pay my dues” but that’s not the case so I could have phrased it better
The reason I am posting about all these different random jobs and appear lost in my job search is because I am. A lot of that has to do with the fact that I am unwilling to leave my gf and family here in FL, where frankly, the job opportunities for research suck outside of a few places.
I’ve had zero exposure to PE, IB, Sales, Corp Fin. and do not fully understand the exit opps nor the ability to go back and forth between them which is why I’ve posted. I am getting frustrated in my search for research related roles so I am trying to be more open to other industries that I do not know much about is what it comes down to.
I feel you on that bro…Those can definitely hold back careers. I passed up a buy-side role because of my girlfriend. She didn’t tell me to turn it down, but I definitely felt some pressure. Now I’m stuck doing FP&A and Corp Dev (at my company, FP&A does the Corp Dev too)
My gf looks at me with the puppy dog eyes and says, “it’s your career, so I understand”. AKA, if you leave me I will probably become despondent and seriously question my existence if you leave me for a job in NYC. She’s about 2 years away from pulling in well over a quarter mil a year as a starting out cardiologist so my decision realllllly aren’t that easy. lol