Hello all, I was wondering if you guys can give me some input on my scenario. I am currently working in ops and recently got promoted to a team lead (2nd promotion in 1.5 year). Work hours are pretty decent…7.30-4.30/5.00, pay and management sucks big time!!! It stresses out everyone. So., due to poor management and boring work, I started looking out for another job. I am looking to get out of ops as I don’t find it challenging at all. Until now I have found no luck finding a job outside ops as I don’t have experience but have my 3rd round interview for similar ops position at reputable company. I am not sure if I should be taking the job if offered as I will be doing the same thing and am trying to get out of ops. Pros: small co. so will be recognized, pay is good, hours - expecting 9-10hours Cons: its still ops, hard to move up/around. I really appreciate for your time.
From someone who is also burned out in ops, I’m looking for something better as well. What exactly is your question? I signed up for Level 1 last year and got a few interviews in treasury/investments by displaying my intent to become chartered. My plan of action is to go to business school next fall and finally springboard far away from ops. I take the GMAT on Sept 8th and I’m retaking Level 1 in Dec. The thought of business school has made my time hear easier.
The lateral ops movement will also make it harder to get into something else. I would not take the job.
Well, my question was to take the job if offered or not. I graduated in 06 with Finance degree. I took CFa leve 1 last june and mgiht be retaking it this december(don’t have a strong motivation yet). I also want to go for full-time MBA next fall, if possible. Putting CFA Level 1 candidate did not help me to get any interviews at all. The reason why I want to take the job is the management up here but then its a lateral move which I think will hurt my future. At this point because of no luck finding a job yet, I don’t even know if I should continue CFA or just do an MBA. I just wanted to know what everyone thinks about this.
You’re like my cabon copy. I graduated in 06 and took Level 1 this past June. I’m driven to take it again this December. Lets face it, ops sucks. It’s not bad work, but it can easily be a rut if you don’t get out in time. I’m going to grad school full time next fall and find that should be sufficient coupled with the CFA Designation pursuit to get a much better job. This economy doesn’t help the exit opportunity either.
Pass L1 in Dec and L2 in June. Prove to an employer how serious you are about this industry that way. Meanwhile network your a$$ off. By next September after you passed both levels, we should be starting out into a recovery, or damn close to it. Oh and forget about B-school, you have very little experience, and it will prove to have been a waste of your time and money at this point. Plus I doubt with a few yrs in ops you are going to get a whole lot in the way of good schools. Think class of 2013 or 14, not 10 or 11. Also, forget the job as KJH suggests. Waste of time, and just mud on your resume. Just my 2. [DISCLOSURE: I have recently quit an OPS/BOish role I’ve been in for ayr and a half and decided to move to the other side of the country on the whim that some work exp, networking and passing L2 and perhaps L3 will help me get something more exciting]
I know many are telling me B school would not be beneficial. I’m going anyway. I like school, I’m not tied to anything right now, I have my undergrad/car paid off, and I dislike my job situation. Attending next fall gives me something to look forward to and another credential that will make me alot more marketable (unlike the CAIA). I see no sense in putting off until later what I can do now.
I was in ops back when I first got out of school…took a while to get out, but go into a middle office role and now work as fixed income trading assistant. Hopefully get a shot to trade in the somewhat near future the hardest thing I found was getting people to believe that I was a trained monkey because I came from teh back office. That’s the hardest thing to do. Once you finally get out, it does get easier…but not easy enough If you want out, be persistant and keep trying. meet with recruiters, try and network, etc, etc. As far as teh new job - did you apply for it, or is it a promotion? Promotion - take it. shows you’re smart and motivated job you applied for - ughh, tough call
>I am currently working in ops and recently got promoted to a team lead (2nd >promotion in 1.5 year). Work hours are pretty decent…7.30-4.30/5.00, pay and >management sucks big time!!! I think I commented on this before but it always surprises me how little people with “team leader” or “manager” titles in non-Wall Street front office positions actually make despite their big titles. I have a friend who’s always bragging about how he’s a senior manager at a big 4 accounting firm but in reality his total comp barely clears 6-figures.
He is getting screwed if that is what he is making as Senior manager…the ones I know are making far greater than that. I mean, it isnt Farley money, but we all know that you are the greatest and best of all time and money is the most important thing in life, but it exceeds “barely clearing 6-figures”.
Stipends and healthcare benefits don’t count as compensation. He used to gross up his comp based on his meal and travel allowances and I had to put the smackdown.
I am not counting benefits, just based on pure salary (gross) and bonus/share plan. He is getting screwed…
Share plan doesn’t count either. He’s got zillions of shares of his company that he used to count as compensation with a cost basis of 0 when in reality he was required to purchase it at a slight discount to market.
KJH Wrote: ------------------------------------------------------- > I know many are telling me B school would not be > beneficial. I’m going anyway. I like school, I’m > not tied to anything right now, I have my > undergrad/car paid off, and I dislike my job > situation. Attending next fall gives me something > to look forward to and another credential that > will make me alot more marketable (unlike the > CAIA). > > I see no sense in putting off until later what I > can do now. No, but your probably actually hurting your LT career if you go too soon. I work with guys who are still doing my monkey work here with MBA’s MEcon’s etc because they went far too soon, and just have two BComm’s in effect. Stop thinking that 1+1 will always equal 2 and be greater when it comes to degrees/masters etc. If you rush in, you usually go to a weak school. As Yoda says to Luke, “You must complete your training”! Besides, if you want to work in ER or I-Banking etc. just go about doing that. Stop trying to go about in a round about means I say. Another 2 cents from me.
I didn’t mean to over exaggerate the title. I just wanted to tell u my progress in ops. This is not internal promotion. i got a call from this company to have me come in for an interview. Today is my 3rd round. I have been meeting with recruiters but they are no help as I don;t only have ops experience.
Are you Polish by any chance?
didn’t mean to over exaggerate the title. I just wanted to tell u my progress in ops. This is not a internal promotion. i got a call from this company to have me come in for an interview. Today is my 3rd round. I have been meeting with recruiters but they are no help as I only have ops experience.
Are you Polish by any chance?
No…I am indian. Why do you ask? jrs130–What kind of role you took in middle office and how did the transition happen?
Profit sharing plan…not share purchase (Deloitte didnt have share purchase options…)They did have profit sharing as an addition to the % bonus (which is discretionary, but still based largely on budget performance and obtaining clients). Even doing just the bonus at expected %, which are down in current times, you would end up above the level you suggest. I still say he is getting screwed. Especially, if he is a senior manager he should be able to leave to get $200K, or at least the last few I saw leave here did (on base only, just for clarification). I am speaking of Dallas Market, so perhaps the other firms are really sticking it to them…after all, it is a collection of firms, not one company.