How badly did I mess up?
Well, this is what I was afraid of. Something everybody tries to avoid.
As a college senior, I had two job offers. One was in IB operations (I know, I know) for a bulge bracket in NY. Technically, it's a middle office group in credit risk management. The other was in an operational-type role for a well-known, established and respected hedge fund in Greenwich. I took the ops position for a few different reasons:
I wanted to be in the city - meeting people, going out, being in the heart of it all, etc.
I wanted the brand name on the resume (again - I know how stupid this is, especially considering it is ops).
I thought that I would be racking up the OT hours and bringing in some extra cash. Not the case.
I thought I'd have the opportunity to move into a different role/business/division after a year, as this is what I was told. Again, not the case.
So, as I sit here contemplating what my options might be in the future (and lamenting a bonus that I'll probably never see), I can't help but wonder if - even after a year or two of experience - I won't be WORSE OFF than I was as a fresh college graduate with a resume tainted by operations. In other words: Did I take a step backward instead of forward?
You should also probably know that I'm not looking to move into a front office position in IBD or anything like that, although I have always had my eye on equity research as a field I might like to break into if I have the opportunity. However, I'm certainly not looking to stay in operations.
You know what? I don't even know what I'm asking. I'm half-expecting some people to just lay it on me and tell me that I made the wrong choice, just to confirm that I did. Feel free to do this. Otherwise, anything you have to say will be appreciated.
i'm a rising senior so take this with a grain of salt, but at the BB i summered at credit risk, credit risk management is middle-office and definitely isn't operations/back-office. Its not bad and its pretty important stuff. i think your b-school -> ER chances are still good.
Don't worry about it. You've got your entire life ahead of you. Two years in an Ops gig and then move onto BSchool and you'll be fine. Stop swetting the small stuff. Get your CFA or take care of your GMATs/LSATs. Just have some fun while your young.
I met one associate on our floor this summer that did MO after graduation and now doing ER. This was after getting his MBA from a top 10 university and getting his CFA beforehand but it's still possible to transition. Just be glad you have a job in this economy.
Thanks for the words of encouragement..
Now, in response to ihavenomoneynow, I am indeed in a middle office group, but I am still an operations analyst. On a resume, or just in general, is one going to take precedence over the other in people's minds?
Anyway, I guess I just have to concentrate on doing a good job in my current role before I can start thinking about where I go from here... no way around that, I suppose. But I'm also worried that they won't sponsor my certifications (CFA, etc.) or pay for my MBA (it's pretty difficult, from what I hear, to have the firm cover tuition). Any color on this?
obviously you will be in the same building as ER. invite them to lunch/coffee at the company's cafeteria, just network.
Yes...relax...you have a job in the industry. First, make sure your well liked in your current position and perform well. Network internally with colleagues and externally with headhunters. Take a deep breath.
... No it's all over.
Remember, you will always be a salesman, no matter how fancy your title is. - My ex girlfriend
The game is changing, and the job market is the worst its been in a long time. There are countless cases of people losing their jobs, so I think the big theme here is to appreciate what you have and more importantly, make the most out of it. Take opt8's advice, network like crazy, but first and foremost, become a rockstar in your group.
im in a similar situation... I took an OPS position mid office at MS. After getting laid off i went into my own business. it is not what i wanna do fulltime but I am afraid that if i put the ops position where I was at for 4 months it may taint my resume and show that im not Front office material
actually, i'm not in the same building as them ....
but that's okay. points taken.
I think as someone hired into ops right after graduation, i can provide relevant comparisons of my experience to yours.
I was doing a middle office role in JPM cash equities (those vanilla ones), thus far it has been slightly over a year. Not to discourage anyone, but middle office/operations are very depressing at times, especially considering its mundane and highly irrelevant in terms of putting those technical skills you acquired in university to work. In addition, through my dealings of FO crew, you understand one thing very well, and that is you are nothing to them but a drone that'll ensure their client's equity trades/derivatives/fixed income get processed and settled properly.
Having said that, after 13 months into this job, i took my initiative and aggressively applied/networked with someone in Private Banking. 2 weeks and 3 rounds of interview later, i am now a buy-side analyst in their porfolio management team. This is a huge jump in my career and i am quite fortunate to be one of the few that made that jump from MO to FO in slightly over a year after graduation, but to your point, I know you have that voice in your head telling you that you'll want to be out one day. My advice to you is to aggressively contact senior folks in other department that are still expanding. Or in worst case scenario, battle this ops position out for 2 years and reload after MBA. One day you make it into FO, you'll appreciate it much more than some monkeys that still bad mouthing it even if they have never experienced anything else in their lives
thank you for the advice.
considering recent happenings in the financial sector, i'm getting increasingly worried about my chances of landing a quality F/O position after i get my MBA, with fewer firms and more job hunters coming down the pipe.
but, what can ya do? sips coke
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