One more data point here. Top 10 u-grad in finance with honors. BB IB analyst (3 years). Top 10 B-school (class of '04). Worked in real estate development for nearly 5 years, market crashed. Now I’m an associate in ER making $120k all in in my mid-30’s, and I’m better off than any of my fellow b-school classmates that have been laid off. Definitely not where I expected to be, but happy to be working. The question is where to go from here…
marcus phoenix Wrote: ------------------------------------------------------- > hh Wrote: > -------------------------------------------------- > ----- > > It surprises me what people will put up with > while > > holding out for that “dream” finance job. > > Why not go into something in business that > doesn’t > > have as steep a compensation curve, and make a > > good living, rather than trying to get into an > > overcrowded/intensely competitive industry. > > I know a lot of people in Calgary that make > decent > > coin who work great hours, get all kinds of > perks, > > and don’t have to deal with even 10% of the > > headaches that FO jobs, and those trying to get > > into FO jobs, deal with. > > Work for the Feds. 40 hr weeks, lots of vac, sick > leave, flex schedule and job security. ANd do cool > stuff if you join an agency like NASA. Yeah my other job offer was to be a rocket scientist but I turned it down
SJZ Wrote: ------------------------------------------------------- > I have many friends in San Diego who have recently > graduated and have entry level jobs in San Diego. > 40k seems very realistic here. Two of my closest > friends do essentially data entry for a start-up > and make 35k + low 4 fig (~1k) bonus… so really > don’t believe the CFA charterholders going for > 35-40 Well perhaps the example I heard (which is real) is the exception to the rule. But regardless, every job you and I are trying to get into has a large group applying and likely 50% of those guys have MBAs. Just too much slack in the labor market. You and I should talk. email me michaelkrauseanalyst@gmail.com…
you’d be surprised to see how many people make $100k a year…
owenspm1 Wrote: ------------------------------------------------------- > One more data point here. Top 10 u-grad in finance > with honors. BB IB analyst (3 years). Top 10 > B-school (class of '04). Worked in real estate > development for nearly 5 years, market crashed. > Now I’m an associate in ER making $120k all in in > my mid-30’s, and I’m better off than any of my > fellow b-school classmates that have been laid > off. Definitely not where I expected to be, but > happy to be working. The question is where to go > from here… Finally a realistic data point!
Wow I’m suprised a top 10mba + cfa only makes 120k all in. I have a friend that works in a fund of fund - 105k base, 25k bonus. CFA and top 40 MBA early 30s.
Yeah, I’m surprised too, given that I was making ~$180 before the market crashed and could have traded in my chips to go institutional for more. I took the “learning” route to understand the operating side with the goal of transitioning into RE PE or HF with on the ground skills + capital markets background. Reality in SoCal is that there are simply very few jobs. To that point, found out that over 1,000 resumes were actually read for 2 positions. However, I’m not a CFA, just took level I, hoping I passed. As a point of reference, my friends who still have jobs in RE PE make ~$150k base with 100% bonus potential. However, the majority (not exaggerating) are unemployed. I’m still hoping to land in RE PE or HF, but don’t think I’ll see any opportunities for quite a while. Also, I really don’t want to move to the NE. I’m hoping that RE ER will keep the doors open. Any thoughts are welcome.