Investments to Teller
Alright imma get roasted for this but I dont care anymore. I graduated from State school and got a job at a large financial data firm as an analyst (Reuters,Morningstar,FactSet,Bloomberg,etc). I worked there for two years and essentially burned out(yes I know there’s harder jobs but whatever). I left my position and got a job as a Personal Banker at a large bank and moved back in with my parents.
I was burning through my money while living in the city working at the large financial data company and I wasn’t really being healthy either. So I took a step back to rebalance.
I’m saving more money now even though I’m making far less. I’ve also been traveling a lot now and working on side hustles too. I no longer have rent to pay and don’t go out smoking and drinking anymore so my finances are way better.
I’ve been working towards getting my series licenses and then eventually taking the CFA level exams. Im hoping even though I took a step back, it won’t halt my career later on since I’ll be continuing my education. Im debating whether or not to go the advisor route, or try to get back into high finance.
Im wondering if anyone has thoughts on this or has ever done something like this before?
Reflecting on the experiences shared within the Wall Street Oasis community, your journey resonates with several narratives where professionals have taken unconventional paths to realign their career and personal goals. Here are some insights based on similar stories:
Rebalancing Life and Career: The decision to step back from a high-pressure role for personal well-being and financial stability is not uncommon. As seen in the context of someone leaving a demanding job before a wedding to focus on what felt right, prioritizing personal well-being can lead to discovering roles that are more aligned with one's values and interests.
Continuing Education: Your plan to obtain series licenses and pursue CFA exams is a strategic move. It mirrors the actions of individuals who have leveraged further education and certifications to pivot or advance their careers in finance. This approach not only enhances your skill set but also demonstrates a commitment to your professional development, which can be appealing to future employers.
Exploring Different Paths: The dilemma between becoming an advisor or returning to high finance is a crossroads faced by many. In the WSO community, there are accounts of professionals who took a step down in title and pay for roles that offered better work-life balance or aligned more closely with their dream job. These moves often led to unexpected opportunities and personal growth.
Networking and Side Hustles: Engaging in side hustles and networking can open new doors and provide insights into various career paths. Similar to your experience, others have found that diversifying their income streams and connecting with professionals outside their immediate field offered clarity and new opportunities.
Personal Finance Management: Your focus on saving more and improving your financial health is a wise strategy. Many in the finance community emphasize the importance of managing personal finances effectively, as it not only provides a safety net but also allows for greater flexibility in career choices.
In summary, your journey, while unique, shares similarities with the experiences of others in the finance community. The key takeaway is that taking a step back to reassess and realign your career and personal goals can be a strategic move. Continuing education, exploring different career paths, and managing personal finances effectively are all steps in the right direction. Your willingness to adapt and grow suggests that this period of transition could very well be a stepping stone to a fulfilling career in finance.
Sources: https://www.wallstreetoasis.com/forum/private-equity/then-and-now-compbanker?customgpt=1, People who fall off the map professionally, Selfish Ask for Help in Situation, Would you take a step down in title & pay for dream job?, Want to quit, but have no clue what else to do. Anyone have a similar experience?
Don’t really need the CFA for an advisor role. You could target WM and PWM from there. Could be lucrative careers
That’s a pretty solid plan, thanks for sharing your thoughts 🙏. Hope it’s actually possible and the step back doesn’t cripple my career
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