Hi guys,
Maybe someone has some advice for me or just dropping ideas. I am 29 years old and I am actually a law graduate. After my law studies in my early 20s, I have realized, that I am somehow more interested in client work and finance. Therefore, after my law studies, I pursued a Master's in Finance in the UK (i.e. yes lots of degrees on my resume)
Following this I got a private banking offer at one of the bigger banks in Europe (think UBS, CS, DB, Citi, JPMorgan). So I started as an investment advisor and after 3 years I got an offer as Junior Private Banker. In detail, management gave me a client book of about 80M USD, and in addition, I am supporting the MD on his 750M USD book. I have been in this Junior Private Banker Role for 3 years; however, I don't see progression anymore (which is on one side also somehow normal since I am "only" 29). Now I am currently looking around and networking with other private banks or family offices, however, their requirement is always the same. Bring in 150M USD of client assets within 3 years, which seems impossible.
My comp is currently around 120k + 30k bonus for a 50h week. What are my options to improve my situation?
- Staying where I am, and waiting for better times, after a while, I might get more clients, etc. (i.e. ultimate goal would be then to have in 10 years a reasonable client book to open my own external asset manager/wealth management shop)
- Switching the shop and trying to acquire 150M USD in 3 years
- Switching roles? e.g. try to switch to investment advisory or investor relations (i.e. although I like the client work with HNWI/UHNWI clients)
- Switching industry. As mentioned I still have a law degree and could pursue a law career, however, I would make a pay cut at the beginning (i.e. 1-year training scheme and afterward 1 year of studying for the bar), however afterward could be a rewarding career. I could see myself opening my own law firm, I like law, but I like finance more. (i.e. in detail I like banking and financial market law a lot)
Appreciate your feedback.
Corrupti rem esse architecto qui aperiam voluptas rem. Placeat commodi quia ipsa aut. Perferendis eum sed maiores architecto cum quae corporis. Ducimus odio quos voluptatem.
Est nostrum voluptas veniam eos ducimus eos modi. Dolore magni molestiae quia provident.
Similique sint omnis modi totam omnis ipsam. Sit rem sed mollitia at facere ab nobis ex. Eum cumque est fugiat numquam. Consequuntur consequuntur sapiente optio enim. In animi dolores illum nam suscipit. Sit et facilis aut quos ut hic.
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...