So, I think I hate making cold calls all day long to advisors - especially since I’m trying to drive asset flows for a product that can be replicated almost anywhere for an identical fee.
Problem is I have really no idea what I want to do in finance anymore. I may have been lucky enough to clear the CFA program but won’t find out until the end of August.
Really the only thing that interests me is trading and fixed income. Ideas? What are you supposed to do when you feel lost in your career?
(Post is serious - I come to you today with my tail almost between my legs. There is no facetiousness going on here).
I kind of feel the same… not sure what I want to do. I think the best thing to do is to make as much money as you can, save as much as you can (more than normal) till you figure it out. Don’t get comfortable or you will settle.
It’s common for people in their 20’s to feel very lost in their career. All you see on TV and media are people living exciting lives, although in reality I hear a similar story from everyone your age and remember having these conversations a lot. Some of it is the nature of finance, you’re honestly removed from anything exciting in a declining industry and not producing any tangible service can be taxing. Have you done a master’s yet?
Lol fixed income is prolly more boring. Trading is exciting, but then it gets old and tedious. Plus they are turning to quants for it now. What’s funny though is for some time period people were adding alpha by buying fixed income in odd lots. When you buy in odd lots they usually trade at a discount so buying them and bundling them was a way to add alpha lol. I forgot who it was, coulda been pimco, doublefund, or during bill gross last company.
Fixed income is good, but you have to get into a firm that is doing total return investing. IG has a lot more moving peices than standard equity given the need to account for more technicals, macro, rates. HY is definitely far more interesting overall than IG.
Nerdy - I think you’re talking about Belle Haven? I only know that because they took me out to lunch one day money managers always trying to wine/dine me - which is the plus side of my job I guess (little do they know I don’t control shit).
That’s a big ol’ no on the masters - you’re telling me, that, I need to do a masters?
Also, here’s more about my situation. I’m the only one who works as a “lead finder” (if you will) on my team (we’re called, Investment Specialists).
But it’s changing me - and I fear it’s not for the better. See, everyday when I come in to work, I have to dawn a “FUCK YOU” sort of attitude, put on my headset, and blast some gangster rap in my headphones in the other ear. Then sit down in a chair and proceed to blast advisors for 8 hours. I think it would be different if I was surrounded by other people who were also making calls all day long - but, I’m the only one making noise on this entire side of the office, the only problem is, it’s all attention I really don’t want, but, It’s something I have to do. In other words, I have mixed feelings on the fact that other people around me get to listen to a 27 year old get rejected 99% of the time.
It’s doing things to me. But, my boss says if I do this right, I’ll be making a killing. . . ? Yes?? No?
Why do you want out of life and your job? I’m only a few years older than you, but I refuse to do anything solely for the money. Sure it’s easy to say when I’m highly paid, but I have always chosen happiness and good lifestyle over a bump in pay.
What activities have you done in your various jobs that you really like? Sales? Analysis? Posting on AF?
Not saying you need a masters, but it helps frame your path forward. It’s actually a positive you haven’t done it since it represents sort of a one time option value if you do it right. The upside there being that once you settle in a bit and form a plan you feel sure of, you have the ability to lever a good masters to facilitate any transition you may need. It’s important to recognize that the career path you’re on isn’t really building you any skills beyond sales and the longer you stay in it, the harder it will be to eventually do anything that isn’t sales (without going to some form of grad program).
working at a start up is also good money cuz they pay you in ITM call options. when they ipo, what you think is worth 50k at ipo price, is really worth 250k!
anywayas i agree with raw. find out what you want in life.
OP, here is my attempt at serious insight into your situation. Maybe you should accept that you are not actually in finance. Sure, you might work for an advisory company, but it doesn’t seem that your actual role involves any sort of analytical purpose that requires special knowledge or skills. With this in mind, a broader variety of jobs could be considered to be a continuation of your current career trajectory.
If you are intent on progressing within the finance sort of industry, you should ask yourself first, are you in the top 1% of your current job? If not, that is where you need to be, or you really don’t deserve something better. Every single cold caller/operations/other sort of person in a financial firm complains about their current role not fulfilling their potential. Obviously, most are just not qualified for better jobs. Only a few are capable of introspective progress that helps them succeed ultimately.
This is exactly right. The product I’m selling is a passive factor based optomization strategy (boring, ya know what I mean?). But, it’s because I don’t really “work in finance” that I’m sort of pissed off - because it IS the industry I wanted to get into. So, I did what any dumbass kid right out of college looking at the big wall street banks would have done. Enroll in the CFA program. And spare me your lectures on why that was a retarded idea, because, I completely agree with you too. I’ve literally cucked myself here. I’ve just wasted the last four years of my life chasing a piece of paper, and I am zero steps closer to working where I wanted to work. Instead, all it’s done, is “supposedly” qualify me to go pick up the phone and speak about why we changed our asset allocation within a set of customized models to FA’s.
It’s sickening. I’m not knocking the integrity of the CFA program for one second - but, god fucking dammit, it was the wrong move for me. On a pure money scale, I could have gone and done so many different things, and made similar money IF NOT MORE doing other career path’s.
That’s why I’m pissed off. I don’t even know HOW to get into finance anymore.
Ohai/Swan - seriously though here (I’m going to come off as an ass hole about this, but like, I’m being 100).
How in the fuck does completing the CFA program not qualify someone for working in finance? Explain this to me. If it doesn’t qualify me for at least junior/entry level work, then something is seriously wrong here. Because, it’s supposed to be the best and most rigourous financial/investment-management qualification out there. Do you catch what I mean on this?
money managers always trying to wine/dine me - which is the plus side of my job I guess (little do they know I don’t control shit).