Advice please: From Full Time Back Office Position to 6 months Front Office Position with a 10k salary drop ?
Hi fellow monkeys,
I'm actually at a relatively big portfolio management firm in Canada (Top Tier). I'm in the Back Office (approx 2years) doing mostly cashflow forecast, transaction processing and settlement problems etc... I have a MSF (MSc Finance) + CFA lvl 2 completed. Would you accept a drop from 55k+Bonus (Salary in Canada) to 45k in the front office (Fixed income Asset Management) (no bonus on paper but PM told me if any leftover and see that I contribute he could drop a 5k extra).
I seriously consider it..more upside and shows that I really want it..
What do you think ?
Thanks,
I would say go for it without a doubt, because what you lose now will be quickly gained in the long term. I guess in terms of finance language, the present value of the NPV of your AM job would be much higher than your back office role.
Unlike alot who would throw off "do FO immediately and GTFO of the BO", I also understand that everyone's financial situations are different, and don't understand what you situation is and whether finances are a major concern. However, my earnest recommendation to you is to take the job now, network your tail off and attempt to lateral to a MM/perhaps BB. If that is out of the question (because you're too overqualified), you can reposition yourself and retool for a top 20 MBA and get into IBD as an associate if that is what you are looking to pursure.
Hell, if you don't want to do any of that, you might also love your new job, kick some serious ass, and move up the ladder and find success in conjunction with a relatively easy going lifestyle. I wish you the best of luck!
Yes do it. Experience and getting in a new trajectory career wise is worth it
Financially, I'm good enough to survive without losing my savings. I'm only 25 years old. my doubt comes from the fact that it is 6months..and nothing is sure afterward as they just hired somebody full time (the temporary I would replace) at least I'm at the same firm..the VP/PM told me that he could talk to my actual boss to keep my actual job afterward if I do not find something else or break in. But my actual boss obviously has the option to tell him no (or GTFO) hehe. Another weird question: if I accept and stay at my actual job until december and then grab the temporary position jan1st..will I still keep this year's bonus. at my first we grant it during the year and pay date =march15th. I know it's a lot of info..lol Thanks all of you!
What are you doing in FO that would require a 10k drop in salary? Are they creating a position for you out of the kindness of their heart or is that the standard pay for new FO analysts there?
Provident consequatur earum sed natus quaerat. Qui a ut occaecati aliquid voluptas inventore.
Quam autem optio quia perferendis ut sunt amet. Optio non quasi eos repudiandae ad. Nobis et laboriosam id.
Qui sit tempora reprehenderit dolorem sed. Placeat eius unde aut cum. Quisquam dicta iure enim at earum. Voluptatem id et nisi ad sed alias sapiente quo. Earum quia molestiae blanditiis expedita.
Aut provident iusto nemo laudantium suscipit. Rerum ex quos ut doloremque ex ex nesciunt. Deserunt officiis et quis et nesciunt iure accusamus. Deleniti porro est voluptatem et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...