Most the responses here are just reminders of how shitty your job is so I won’t remind you but can I ask what your current role is and what do you actually do?
You really need to network with others outside your immediate group. You should also try and take on as many non-standard “special” projects in your current role that you can leverage on your resume. Anything that could potentially assist in revenue generation is a big plus.
what’s so horrible about BO? Our CFO does quite well.
How many CFOs does your firm have?
Exactly. Why not be a rockstar in the back office. A whole lot easier to shine and your path to riches could lead you to a COO or CFO level
Yeah, what is it you do exactly?
lol nice
i started in accounting, moved to investment operations (valuation and performance measurement), and was blessed to get an opportuntiy in the FO after 11 months (buyside ig credit).
60% of your energy should be dedicated to crushing your current job and getting a rep as a ‘rockstar’ in your BO group. take on as many projects as you can for exposure and resume ammo. i worked 70+ hr/wks in a 40 hr/wk job.
40% of your energy should be spent networking PASSIVELY. talk about non-work topics. get to know the FO younger analysts, don’t resent them. talk informally about your long-term goals. be likeable.
firms like to hire internally…cheaper and easier.
grind!!
^ best advice.
This, and you were also (based on your name) prepping for the CFA exams, and so you were focused on two things (work and CFA) already. That doesn’t leave much time for a life let alone job hunting.
The trouble was that even if you found a job in the months you weren’t studying, if it came too close to study time, you would be challenged with ramping up in a new role while also studying, and that pushes the limit for someone like me. I’ve held off on searching for new roles till getting beyond L3 and getting my charter. It’s time to search now, but there are good reasons why I stayed in my current role for so long like the OP.
I had the same experience as stjohns796 - started in IO while finishing up at university, offered a position in trading after 3 years of killing it in the back office. His/her advice is on point.
yo yo yo, if a St. Johns grad did it, you can do it.
I had somewhat similar path. Was doing manager due diligence for almost 5 years and moved into security analysis finally after that. Got my Charter right before I applied. Also said I expected a pay cut and realized I;d be starting at the bottom - in my mid-30’s.
I even stated in my cover letter how I had no experience doing security analysis except what I had done ON MY OWN. That is, in your own time, DO some of the stuff you want to apply for - DO security analysis, TAKE a modeling course, model some companies out - do your own research reports. Show THAT initiative. Or find out what risk managers do and start learning those skills. Every little bit helps.
Lots of BO guys want to be FO and assume just sumbitting resume and MBA/CFA will get them in. Need more than that IMO.
Also, I assume “middle office” is like “middle earth”. some fire, some brimstone, an orc here or there, but not mordor or anything.
Hi CFA 2015
I guess I can share your agony as I am facing even worse situation than yours in the sense that I am currently inbetween jobs.
I had BO exp in investment banking and even moving into BO buy side is an uphill task.
Did you have any working r/s with these peeps from the risk mgt/performance measurement team or your current role entails some relevant responsibilities (such as valuation, NAV cal etc)? You might wish to network around with these ppl in these depts during coffee break or ask around you if anyone you know if they have anyone in mind that perhaps intro to you so that you might know more abt their role to have a sense if it really interest you. I’m sure ppl are always like to talk abt themselves when asked.
In most cases, it is not always the best qualified person to get the job. Perhaps the person who got the job might have advantage of having “strings” pulled in order to obtain the role.
The fact that you are at CFA level 3 shows your perservance and comittment in this field. Do not give up! Hopefully you have already cleared level 3 by this time of writing or better still, you got the role that you wanted.
Is being an Investment Analyst belongs to FO/MO/BO?
What’s terrible about working at the BO ?