Make money fast or build career patiently?

On the one hand, I see some former alumnus (< 30 y.o.) make big bonuses in FO roles but sometimes getting fired or even not succeeding. On the other hand I consider building patiently my career while bringing up my daughter and have a “normal” life. So here’s my career target: move to a buy side analyst role in 1.5 years (although I have no idea of the % of fix their bonuses are) hoping to have passed at least L II and with any luck L III. Then after a few years having assisted a portfolio manager, gained expertise and validated the charter, become portfolio manager. Then the bucks should be there and depending on how things turn there, maybe move to a more challenging HF role. Of course, this way is longer but makes sense, is less risky since at every step you learn a job you could make elsewhere and I personnaly think that good portfolio managers should be experienced and cultured and not be young graduates, as brilliant as they could be. I am really interested in your opinions and a debate would be really apreciated here.

Buyside analyst is FO. What is the alternative type job that you are alluding to?

Sorry, for my imprecision. From what I’ve read on this forum and some people I’ve met, buy side analysis allows you to have a life outside of your job (ie be at home before 9 p.m., not work every week-end or wake up at dawn) The other FO positions I was thinking of where rather in M&A, securitization, PE or Sell Side Analysis. Trading can also be very lucrative but I’ve always considered it as a boring job, very repetitive or mathematics-oriented, but this is my personal opinion.

> Trading can also be very lucrative but I’ve always > considered it as a boring job, very repetitive or > mathematics-oriented, but this is my personal > opinion. I respect your opinion but no sure how you can be in this business if you think trading is boring? I am exact opposite and got into this business because I think it’s the most exciting career out there (outside professional sports)… If I had $50MM in the bank today, I would still trade full time, but only for my PA of course, instead of traveling/golfing/etc… that’s how much I love it.

Um…you pretty much gave out the pros/cons… banking: hectic hours, mucho dinero buy side analyst: less hours, less cash-money (initially anyway) But regardless, both sides are cut throat competitive. Then again, for a candidate to be qualified enough to be able to choose between the 2 types of roles should mean that this candidate is smart enough to evaluate the pros/cons between the two.

Thanks for your inputs. Well MFE, when I say trading is boring, it’s rather because the processes used for the investing decisions seem to me “decorrelated” from the economic reality to me (although I know it is wrong but it’s very math-oriented). For example, a trader will hedge the delta or gamma of a list of stocks he follows based on many sensitivity analysis, etc. as well as the moves on the market, the announcements he sees on Bloomberg, etc. Personnaly, I would prefer to have a deeper understanding of the sector or stocks I make trades on: use BS or SS analysts’ reports, etc. Nevertheless, maybe am I taking the wrong way too, because portfolio managers also take decisions based on such “mathematic criterion” (remember the Security Market Line, etc.). I think this is why I was told there are usually two kind of PM: - the former traders - the former analysts This is why I would prefer to follow the second way

Your thinking of completely vanilla equities. You need to look at Fixed Income, Structured, or Commodities. Heck trading FX flow is more exciting than what you describe. You want exciting trade some natural gas :slight_smile:

I used to be in cargo brokering. Thats pretty exciting. Not as big bucks though as trading financial products

We’d have a ship ladent with crude oil halfway to its destination then turn it around to another port because it had a better price!

Ok, but if those jobs are not your first choice in terms of interest, what else can you do once you leave that kind of job? Join a corporate / buyer / retailer of gas or any other commodity? And do the same job? Or join a risk management team or compliance department? I believe that after having made IB, financing or analysis jobs, your number of possible paths is much broader, but maybe am I wrong. And if finally you want to work on the markets, it could be still possible. For example if you have worked in structured finance, you can exit to a securitizing role.

now, in 2020 we can work online and it’s one of the most significant advantages of contemporary world.

have you ever worked online?