plumbers don’t have student debt.
This can be applied to basically any job / career path. It’s not limited to finance. or plumbing for that matter.
Anyone making a couple hundred g’s shouldn’t have any student debt.
That is amazing and almost too good to be true. So is it true?
Why anyone would want to work many years at the big four is beyond me. I worked at one for some time and basically leaving before 8pm or leaving before the rest of the team left was really frowned upon and not the done thing. Also, within a workplace I have never met so many intense people and who could not care for their staff as at the big four, especially from the management side. The worst part was the compensation though and on a per hourly basis it is way below other companies. The carrot they always wave in front is that at some day you might be made partner and earn the big bucks but I think very few starting out as analyst will last till then. As another poster pointed out they are basically just a cogwheel that churn in young staff with the anticipation they will leave a few years after.
In terms of finance jobs with a somewhat healthier work life balance asset management and corporate finance may fall into that category
I’m always amazed at how much a university education costs in the US.
I went to a uni ranked in the top 25 in the world for free, god bless the socialist republic of Scotland.
Private wealth management and/or corporate/institutional trust at big banks is littered with 40-50 hour per week jobs that will let you use the skills you enjoy from the CFA program, get you a salary between $80 and $200K(not living a life of luxury, but it’s a damn nice life) and when you’re out the door at 5 PM, you’re off the job. No evenings, no weekends, low stress. It might not be a BSD job, but it’s also far less competitive.
Interesting. But you are talking about the US there - which I gather is different from Europe.
Any ideas from the Europeans here?
100% true. There are a few other corporate “losers” here. Look for jobs in treasury, strategy, planning, investment analysis at your local corporation. My “portfolio” is cyclical with the business, but I can be managing over a billion in investments with near zero oversight for a lot of the year. I get to work capital markets deals and run (again, seasonal) a short term debt program. Downsides of any corporate or banking job still applies: office politics, weak leadership, boredom. I hate these things, but if you’re cool with driving a desk, it’s great balance.
I meant as a starting point. In other words, if you start out and go through college + MBA early, you are already levered against your decision. So if you wind up with a blah career or get layed off, you have financial risk that a plumber that basically just goes straight into an apprenticeship does not have. Ergo, the risk profile is skewed for the finance track. Average wages are higher with comparable medians, meaning for the median financier, student debt becomes a risk / burden not shared by plumbers.
I worked in the money market / short duration space for a bit. It was mind numbing.
Is there a forum for the Certified Finance-to-Plumber certification. Does anyone know if one needs to do an MBA first? Maybe I should go moderate there??
^Would that be the CFP?
It took a while to figure out how to make the acronym fit right… 