Is that a fancy job title for a back office position?
Anything ‘_______ administrator’ is NOT fancy…
No, it’s a job title for a back office position.
Its not as if a BO position is the end of the world like many on here claim. Everyone has to start somewhere and not everyone can afford Harvard or has a daddy who golfs with a hedge fund manager. Get your foot in the door, work your tail off and keep your eyes open… But yes, Fund Administration is a back office position. GenY
BO does not open doors. Sorry GenY. Well, i mean it does open doors. But to other middle and back office positions. very rare for those who commit to BO to jump to the front. Better to wait and see if you land a bunch of FO interviews etc than to settle with BO if you have FO aspirations.
No need to be sorry striker, I have met many FO employees who got their start as a grunt in the BO… it probably depends on the firm. I mean, BO experience is not going to hurt you, even it doesnt necessarily help you(not to say it cant). I mean if you get a FO job right out of school, you can get the same FO job after a year as a fund administrator… hell ya dont even have to put it on resume if you dont want to!! I would rather be getting paid while trying to improve my career rather than sitting at home watching the bills add up hopeing for a miracle. The fact is many people get to comfortable in their BO roles and dont do enough to help themselves out… thats the real risk! just dont get comfortable Do whatcha gotta do! GenY
Why would someone that is a former trader ask this?
Maybe he used to trade basball cards?
^^^^ I was thinking the same thing. I am in BO now. It’s not the end of the world but it’s certainly not ideal in terms of where I would like to be. I have seen several trading positions posted which states “A knowledge of back office and trade settlement procedures a plus” so at least I have that going for me. Sometimes getting out can be very difficult. Keep in mind that your supervisors and even upper management will try very hard to keep you in the back office if you are good at it. Promotions are certainly possible and likely but will be within the BO. BO to MO is an easy transition and may get you a step closer to FO as you will get to work with the traders and PMs more. Personally, I would like to make the move to the FO. Still figuring out how exactly that will happen though…
Contrary to what many people say, there is a lot of money in back office in due time and the hours aren’t bad at all, it’s just not a glamorous position. Many people due make the latteral move to the FO also, just need to make contacts at your job and hope a position opens up.
I disagree, GenY. Not to say that people CAN’T move from BO/MO to FO. They can. But, in some cases, and with some potential FO employers, it would be better to job search for 6 months than to take a BO position in the meantime. It depends on the roles in question, the degree of snobbery of the FO hiring manager, etc.
“there is a lot of money in back office in due time and the hours” Define a lot of money.
Sure, anywhere from $100k - 200k w bonus depending on position from Director to VP or Project management (consultant) role. You left out the end of my sentence which states the hours as being resonable even through month and year end rarely if ever needing to be over 50 hours/week. (This obviously relies on the efficiency of the ops department) It depends on the individual and their work life balance. Money is very comparable to PM and traders when you figure in hours worked.
Well, as I mentioned if you REALLY think experience is going to hurt you in this regard, just dont even put it on your resume, if they ask of course you should tell them. The fact is once you get in the interview room it doesnt really matter. BUT you are right CFA, it does depend on the “snobbery” of the hiring manager. I feel MOST will try to find the canidate who will best preform but some may scoff at the idea of hiring a BO employee on principal(those who are not very good at their jobs). This is why I wrote in my original response I wrote it really depends on the shop your working at… and applying too. Still IMHO, easier to take your time, make contacts, be motivated when your going to work everyday and recieving that paycheck at the end of the week/month. Hopefully, trader you can make sense of these contrasting views and make the decision thats correct for your individual circumstance. Respectfully, GenY
Can someone define the major differences between working in the front office compared to working in the back office?
The front office is in right when you walk in the door. The back office is near the cloak room.
FO = fancy car and a beautiful women. BO = Yugo and an abacus.
Sure - in the front office you get the newspaper before it goes to print. In the back office you get the newspaper 3 days after its printed.
Back office may not be great, but be happy that you’re not in Storage Room B!
mwtob Wrote: ------------------------------------------------------- > Can someone define the major differences between > working in the front office compared to working in > the back office? Don’t let these guys fool you, it’s just one big office divided with a line color being the company’s preferance of course.