I graduated from a good business school in 2006 and have been working for a large wealth management firm since graduation. I have enjoyed the experience as I have had the opportunity to learn a lot about the financial markets and they have sponsored my pursuit of the CFA (current Level II candidate). That being said, I don’t think this field best suits my strengths. While I do enjoy interacting with clients, I don’t inherently have that sales type personality that is essential to move to the top in this industry. My initial plan was to make progress towards the CFA designation and then make the jump to sell-side research and then to the buy-side. I came close to landing such a role on several occasions last year but ultimately was passed on. Given the current environment and the lay-offs being experienced at sell-side firms, is pursuing a sell-side gig too risky and maybe an even a waste of time? If so, what is the best course of action towards my goal of working as an analyst on the buy-side? My experience so far has been that it is hard to get an interview for a “pure” analyst position with my experience in HNW as most firms seem to be looking for either kids right out of school or experience as an analyst. While I consider my current job to be a good one with plenty of job security, I do not want to miss the boat. I feel that the longer I stay in my current role, the harder it will be to find an analyst gig.
wow im in the same boat as you mane. im sticking with it. we are lucky to have jobs and gaining experience. in fact, explaining to HNW mbrs over and over again that they should stick with us after losing 40% is a once in a lifetime experience. if you can make it through this, hopefully it wont get worse. Your option is to get the CFA or not get the CFA. What do you think improves your chances of a better employment opportunity? Sh*t or get off the pot
That will be a tough jump to make and possibly an expensive one. Easier to build up a HNW practice and then ten years down the road, jump ship and found your own firm. That’s potentially a lot more lucrative anyway.
If I were you I would try to look internally. I recall a woman in our office who was an Assoc PM, found a job in a different city within the company doing totally different work. She started doing deep analysis on portfolio construction, correlations, etc that was more in tuned to what she wanted. Likewise, your firm may have an in-house research team which would be a good fit for you to look at. She had her CFA…not that this was the dealmaker for her, but point is to keep pursuing it as it opens more doors than it shuts, and keep looking and looking
Samnyc, By expensive, are you insinuating that I might have to go the MBA route to make the jump?
I don’t think you realize how much golf you’ll play as a HNW Advisor vs. anything on the sellside.
MT327 Wrote: ------------------------------------------------------- > Samnyc, > > By expensive, are you insinuating that I might > have to go the MBA route to make the jump? Starting analysts don’t get paid much and on the sell-side at least have no work-life balance.
SkipE99 Wrote: ------------------------------------------------------- > wow im in the same boat as you mane. im sticking > with it. we are lucky to have jobs and gaining > experience. in fact, explaining to HNW mbrs over > and over again that they should stick with us > after losing 40% is a once in a lifetime > experience. if you can make it through this, > hopefully it wont get worse. > > Your option is to get the CFA or not get the CFA. > What do you think improves your chances of a > better employment opportunity? Sh*t or get off the > pot Off topic, but I think I’m in possession of your picture. Is/was your dad in the navy?
my email is skipe99atyahoodotcom , cant post it in ordinary form or the spammers come caling. i have some ties to the military but am doubtful it is what your seeing. holler at me!
That’s a very difficult transition to make, even in good times. I honestly don’t know anyone who’s ever done it without getting an MBA and going through recruiting. I’m sure it’s not impossible but in this environment I’d go looking for a Plan B.
Drz Wrote: ------------------------------------------------------- > SkipE99 Wrote: > -------------------------------------------------- > ----- > > wow im in the same boat as you mane. im > sticking > > with it. we are lucky to have jobs and gaining > > experience. in fact, explaining to HNW mbrs > over > > and over again that they should stick with us > > after losing 40% is a once in a lifetime > > experience. if you can make it through this, > > hopefully it wont get worse. > > > > Your option is to get the CFA or not get the > CFA. > > What do you think improves your chances of a > > better employment opportunity? Sh*t or get off > the > > pot > > Off topic, but I think I’m in possession of your > picture. Is/was your dad in the navy? whats up man? im curious about this
> whats up man? im curious about this I’ll send you an email, just in case you are who I think you are and you want to keep your identity private.
MT327, It is sometimes grass on the other side story. Analyst on buy side is not as glamorous or problem free as you think. To begin with there are few jobs and on top of it lots competition from consultants and outsourcing. If you ask me, building your own WM franchise (even though may take 5-10 years) is worth the time. Then you can be your own boss, leverage your past and be an analyst for your clients also. Have you looked into it?
Thanks for the replies guys. I must admit that I wonder about the “grass being greener on the otherside” aspect from time to time. I guess in my mind doing security analysis is sexier than working in wealth management and potentially has more upside. However, I do realize that the work-life balance in wealth management is pretty great. I also realize that security analysis can be pretty monotonous at times. I just figure that if I later decide that research is not for me, I can always go back to wealth management. I have talked about starting my own firm with friends on many occasions. However, we are all 25 years old, so it will be a few years before we have the experience and credibility to start our own firm. These friends I speak of also happen to be the type of people who will do well with the sales aspect of the job, so I figure it would be great if I can get some more technical experience to complement their sales roles.
This is what I see typically … 25-35 (Earn experience) 35-45 (Build your brand) 45-55 (Enjoy your brand) 55-65 (Wind down and groom the next gen)
MT327 Wrote: ------------------------------------------------------- > Thanks for the replies guys. > > I must admit that I wonder about the “grass being > greener on the otherside” aspect from time to > time. I guess in my mind doing security analysis > is sexier than working in wealth management and > potentially has more upside. However, I do > realize that the work-life balance in wealth > management is pretty great. I also realize that > security analysis can be pretty monotonous at > times. I just figure that if I later decide that > research is not for me, I can always go back to > wealth management. > > I have talked about starting my own firm with > friends on many occasions. However, we are all 25 > years old, so it will be a few years before we > have the experience and credibility to start our > own firm. These friends I speak of also happen to > be the type of people who will do well with the > sales aspect of the job, so I figure it would be > great if I can get some more technical experience > to complement their sales roles. It will be a minimum of ten years before you can build your own firm. So concentrate on growing your asset base, creating loyalty and your skill set.