Hi guys, first time posting here.
Need you guys' kind advice. I currently work at one of the largest European AM as a client relationship manager (sales team), managing several key accounts. It's a new role for me, as i only worked here for ~6 months (previously i was a sell side analyst). One of the key reasons i accepted this role was the boss; a typical nice & professional person everybody loved. However, she is leaving the company soon (she already with the company for 10 years). She hence recommended me to join the investment team as the investment specialist (a hybrid role liaising investment & sales team), as uncertainty linger on new person replacing her. Below is the pro-cons i listed myself.
Client relationship manager:
+ Performance -> bonus. I don't need to worry of other things, as my key KPI is AUM.
+ I excel at it. My clients are highly satisfied with my service and i successfully bring-in sizable AUM to my company. My bonus for this year would be notably sizable if i stay at this role (the company recorded almost x2 net profit in Q1).
+ Extensive travelling! I'm still young and LOVE to travel a lot. One time i extended my out-region stay to have my own vacation.
+ Extensive entertainment! I have sizable budget to entertain clients, hence countless resto/bar hopping before the pandemic lol.
- I report to a associate director level.
- Limited career path? (please advice!)
- Little reach to the sell-side world (sometimes i miss the sell-side nuances)
Investment specialist:
+ I report directly to the investment director (an upgrade than before; is it a promotion? please advice!)
+ Larger salary
+ I have better reach to the sell-side world (i liaise with portfolio managers on day to day basis, which frequently include sell-side analysts)
+ Better career path? (please advice!)
- The performance metrics were more complicated compared to the other role. Key KPI no longer AUM.
- Boring job, i hate doing all the write-up and research reports again
- Lesser travelling and entertainment.
I have no direct relatives or friends to consult according this matter. Please kindly give you guys' career advice. My best gratitude.
Nothing you've listed, or said, makes me think that you should change roles. Unless your boss knows something you don't - business continuity wise - it's odd that you'd switch this quickly. Obviously there's risk that your next boss sucks - but, again, you seem to enjoy your role. Worst case you stick with it - and then go somewhere else if an opportunity pops up.
In your existing role - are you also tasked with business development responsibilities alongside managing existing clients?
Largely it depends on whcih side of the 'ledger' you want to be on - as of now, you aren't really an 'investments' person outside of communicating results, solivng challenges or bringing in the types of roles you are thinking about to discuss new or existing offerings. So really - the question is would you rather be that guy, versus who you are now. If you want to truly be in an 'investment' role - that probably provides the better bridge, where you learn or specialize in a product offering and then could transition into it (given you have 'analyst' experience - otherwise it's murky as hell). You also have some risk that your specific area sucks performance wise - although that risk is present as a CRM as well.
In your existing role - are you also tasked with business development responsibilities alongside managing existing clients?
Yes i do, i manage new fund on-boarding processes with my client. Is this adding more value on this role?
Nothing you've listed, or said, makes me think that you should change roles. Do u have any comment on my new reporting line? As a CRM i only report to associate director level, while as Investment Specialist i report to the investment director. Can this be an important consideration?
It's a slow morning for me - but that's effectively adding a new fund/strategy to an existing clients account, correct? Not literally bringing in a new clients and, say, an additional $100mm in the door of AUM. It's really more of a question of whether you enjoy bringing in new business and/or would prefer to simply keep assets around.
On the reporting line - the question is really whether you want that job above you and/or what you can learn from that specific person. It's not a 'promotion' because you are reporting to someone else necessarily - realize that your larger salary is offset by a smaller bonus you'll get as you are now more of a middle man vs. having direct responsibility for Assets.
My advice to you is to pick out that more senior role that you'd enjoy doing, and then that becomes the path you take.
It's a slow morning for me - but that's effectively adding a new fund/strategy to an existing clients account, correct? Yes, it is! My company is already well-established, hence bringing in new clients is not a priority.
One more thing. I'm planning to have my MBA 1 or 2 years from now, hopefully being admitted in one of the top US business schools. From the uni perspective, which role do you think they prefer: CRM or Investment Specialist? I'm sorry if it's rather out of topic. Just wondering if you have any two cents on this.
It's not going to matter. A finance role is, effectively, a finance role and your ability to cast yourself as bringing a unique, diverse experience + good GRE/GMAT scores will matter far more than your job title.
Neque nihil vero molestiae numquam. Eum odit occaecati reprehenderit magnam laborum similique ex. Qui est nobis pariatur.
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