Where to go from here? Thought I had my dream job but AM seems an industry in decline

Water Cooler Careers
#1

I landed my dream role 4 years ago (Long-only AM at a large fund) after doing sell-side equity research post-college. While initially everything seemed great, I have become disillusioned with outflows (money continues to move to passive), politics (performance seems to matter a lot less than I thought) and compensation appears low relative to the work we have to do (hours not very different from sell-side research with some work on weekends, but significantly more work & stress than FP&A, Tech, other traditional roles).

What appeared to me as a long term stable career with good compensation turns out to be an industry in decline where comp is coming down (even some funds-of-funds gigs pay far more with lot less stress & much less hours).

#2

I’m in credit risk and couldn’t be happier. Good pay, mostly 40 hour weeks, interesting cases, limited stress as long as you do your job and pretty autonomous. I think that in general risk is often overlooked in the industry. It’s definitely not the sexiest of roles and you can be viewed as a cost rather than a money maker.