Hey guys,
I'm looking to hear what are some of the exist opportunities within the institutional asset client reporting groups. The reason I ask is because I'm incredibly bored after only being employed in this group for a month!
Some background information about myself; I graduated from a non target school with a subpar 3.1 gpa in 2014. I did not take school serious until the end because of financial obligations. My search for a job lasted approximately 4 months since I graduated.
I accepted a position at a major insurer, think fortune 500 (top 30) within their fixed income department mainly due to needing money (don't have mom and daddy to pay for everything background). My specific responsibilities are to create or put together pitchbooks/reports for institutional investors/compliance dept. on a daily/monthly/quarterly/yearly basis. The job really just involves heavy use of excel. Repetition, repetition, repetition.
I was told that I can definitely sit in when clients come in and the opportunity to move around is always there. My goal is to get into either investment management/fixed income or equity research or corporate finance.
In my time there it seems as though I have a better chance becoming a business analyst as I feel as the work can be automated substantially through coding. Which also introduces me to the possibility of learning programming languages
I was thinking the following:
1. I work here for a year and try to transition into investment management (within the firm).
2. I work here for a year, network like crazy and leverage that into a better position (some other firm).
3. I quite my job and try to find something more in line with what I want because working here will have a detrimental effect on my career.
I'd really appreciate any advise!!
Thanks in advance
My two cents first DON'T leave your current job without a job in hand (if mommy/daddy can't help you out why leave who will pay your bills unless you want to be a gigolo from 10am to 2pm for housewives ). Second, re-write you resume to focus on fixed-income management seeing how you do that anyway and your excel skills. There is no reason why you couldn't get the bottom gig after a year in your current role.
https://www.linkedin.com/jobs2/view/11963937?trk=vsrp_jobs_res_name&trk…
Best, R
Your options 1-3 are the basically same thing.
Don't leave your job. Looking for a job while already having a job is a much better place to be. Network, study for the CFA level 1 exam. If you're still not where you want to be in a year or two, start studying for the GMAT and working towards b-school apps.
Also, you're not stuck. You've only been there for one month. You are also exactly where you should be with that GPA and background so don't think the gods somehow forgot about you. You did that to yourself because you didn't try hard enough (my story was similar). Now you just have to work harder to get where you want to be.
What's your salary?
Dude, your job sounds way less back office than you think. You get to work with clients, picking up some fixed income & excel knowledge, you're not reconciling trades or doing accounting or any other "worse" back office jobs in terms of career options. Study for CFA level 1, apply to jobs periodically in the fixed income space, you would have some basis as far as looking at research or sales/trading in that field. Be patient.
Flake I agree I did not prioritize my studies and accept that I have to work harder to get to where I want to go.
I was offered starting salary of 55k + overtime. Bonus is 1-10% of total salary. The position is in NJ.
Im only worried because the work is not analytical in nature (at least what I have seen), granted I just started. My interaction with clients is very minimal and it appears as though my other coworkers also have minimal interactions with the clients. Ive searched through the group mailbox and noticed there is very little dialogue which makes it a bit difficult to build relationships with clients. So I think I would be overstepping boundaries if I engage too much.
Last point is there is just way too much down time. I have enough time to teach myself any subject matter I want; Ive taken this opportunity to learn all i can about fixed income. Studying for the CFA is something I can do at work easily. Probably one of the better aspects of my job. I dislike complaining, especially since there are people unemployed/underemployed but I cannot see myself doing the work I do for the next 2 years. It's just not mentally stimulating/challenging.
If it's Prudential fixed income, its certainly not a BO function per se. It seems like it would be more of a MO function since you aren't stuck doing account reconciliations and posting journal entries into SAP (the idea of offices: BO, MO and FO become alot less pronounce outside of banking and high finance because in f500 companies, the corporate finance role is pretty much glorified accounting at the junior roles.)
My advice would be to remain at your job, kick ass for a year or two, continue to network, and then try to leverage those contacts to go somewhere else. If all else fails, its a pretty solid name, and you could rebrand yourself with a top 20 MBA. Don't lose hope man, as everyone makes mistakes early on in life. It's a shame that 40 years of your life are determined by what you do over an 8 year period.
Don't complain about down time - use it to study for the CFA to show that you are better academically than your 3.1 from a non-target suggests. Think about it this way - what makes you think that you are in a better position now than after graduation where it took you 4 months to get a job? Don't think about quitting - focus on gaining the skills and credentials you need for the job you want. If I received an application from you right now I eould think you had a poor work ethic due to your low GPA and short time in your current role - do something to change that.
May the force be with you young padawan. There is always B school..
Thanks a lot for the advice guys! I really appreciate it.
On another note, what do you think would be an effective way to network with the MD's at my firm? I see them often either on bathroom breaks/they pass by my cubicle often enough to formulate a "good morning/hello" response. In other words I'm catching the fish, now how can I reel them in?
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