As an aside, why is it so common for law grads to not actually make law their profession?
Thanks very much, everyone, for the words of encouragement, and particularly Sweep the Leg for the practical, actionable advice. (I understood you weren’t being literal about the stalking.) As time allows, I’m going to look into the books you’ve all recommended. Talk is cheap, so I’ll just say I’m pretty motivated to do this.
Marathon_Runner, I can’t speak for others (though I’ll venture a guess), but it wasn’t a good fit for my personality. I’m much more mathematically inclined, more of a risk taker, and unlike many of my former classmates, my eyes glaze over arguments about arcane legal minutia. As for why others ultimately choose not to practice, it likely has a lot to do with supply and demand. There are far too many degree mill law schools, and not enough jobs (and many that were lost in the recession never came back). The salary distribution is also classically bimodal, with $160k starting salaries for those at the top, while those at the bottom lucky enough to even find something often toil away at $10/hour research assistant positions. That said, those that stick with it can usually make a good living 5-10 years down the line.
Regarding two of your questions…
If you’ve got a Economics BA from a UC-Irvine equivalent, and a JD from a UC-Berkeley equivalent, and you pass L3, then you’ve got all the education you need. I don’t think an MBA, even from a top-tier institution will benefit you much, especially not given the opportunity cost of getting one.
And I don’t think you should move. If you live in SoCal, then these kind of jobs should be abundant. I can’t imagine your luck would improve by simpling changing locations.
@all the books I listed was a way for me to know what’s out there, and I never thought by reading them would get me anywhere, but they did open my eyes and allowed me to think differently.
@bro I am definately going to check 48 Powers of Law, I have heard some good things about it.
As for Pitch Anything goes, again, I am just a small potatoe from a small town, I had no idea what IB was invovled, and Oren Klaff is obviously good at that. I do have some reserves about his methods and intuition. For one, he may have cherry picked the examples in his book, yah it worked for him, but it may not for others. Also, he talks about engaging the croc brain and get into a friendly competition etc, he’s really playing a game of poker there. For example, when the badass IB guy “Johnny” interrupted him during his pitch he would throw something back such as a “so and so NFL player is also an investor”. It’s like Johnny is placing a bet, and Oren is re-raising. Sure there might be a croc brain explanation to that, but it’s really more like a poker game. “I know Johnny’s hand, I know my hand, he can’t bluff me out of me hand.”
Dude you live in California. I didn’t even look hard and saw slightly above entry level positions at Calsters, Calpers, and PIMCO that you would probably have a shot at. I’m not sure what some of the more experienced AFers think about this, but I’d probably try to get into the right firm, and then get into the right role once you’re there and prove your capabilities.
I wouldn’t recommend moving if your current firm is a no-name/unheard of place, especially if it’s known where you currently are. I wouldn’t recommend additional school, especially not a Masters in Finance. I have that degree and while I learned a lot, I don’t think it’s added to my marketability or earnings with employers, despite me hoping it will. At this point I’m holding out hope that it will eventually be my get out of jail free card so I don’t have to go for an MBA.
If you can get into Harvard, Wharton, Stanford, Booth, Columbia, and Stern go for it.
I was in a similar situation not too long ago and now have a job as a fund manager at a buldge bracket.
Fair warning, not everyone gets exactly what they want out of an MBA and you might end up having to suck it up and do something not related to your dream job. I had to hustle and get turned down probably more than anyone in my class to get my job.
Nobody will give a shit about your CFA charter if you go to business school. Recruiters recruit to find MBAs and in NO WAY shape or form will they care about you having a CFA charter vs another fellow MBA classmate. For this reason, I hope you have some serious brand recognition on your CV (Big Companies not necessarily in finance). You are better off having worked for GE than a 2nd tier PE firm that the recruiter doesn’t know.
Everytime the temp drops below -20, I start browsing the PIMCO listings.
There are some great firms in San Fran too, I’ve been tempted to apply to the BlackRock office there a few times just because of the weather.
^ So Cal > No Cal
^ Yes. In about every possible metric. Better weather, lower cost of living, nicer people, fewer liberals.
Haha, lets leave it to the Canadians to argue about which part of California is nicer. In my limited experience of being in California over the last decade (2x). I would take No Cal every time.
The OP is going through a mid life crisis.
Semantics,
Not to shift the focus away from your question, but I came to AF today to pose a similar question to the forum regarding my career. You practically took the question out of my mouth. I am certainly not as credentialled as you are. I am 29, possess an undergrad degree from a decent state school ( I got crap grades), have the series 7 and 66 (finance equivalent of high school diploma), 5 years sales experience in retail finance, and am a level 3 candidate. I desperately want to get out of retail finance. I am slogging away to pay the bills until I get the charter, and am looking to break into any analytical, research, or asset management position that I can. I am frankly disturbed at my lack of a plan career wise. My question to the forum is what sort of expectation should I realistically have for my job prospects once I get the charter. I can no longer stand slinging mutual funds and managed money as a “financial planner”. Any advice is welcome.
Again, this is Semantics’ thread. I hope my plight makes you feel somewhat better about your situation, Semantics. I can’t offer much in the way of career advice, but Cali sounds nice to me, it’s brutally cold in the Northeast!
- Dude
You have a JD and a BA from two ‘good’ schools.
Do not chase more educaiton, you will become completly unhirable.