Should I stay or should I go...career advice!
Background:
- Graduated target school in 2010
- Joined $12B AUM long-only buy side shop one year after graduation
- Cover a few consumer industries
- Daily autonomy - no one gives me direct research assignments or tells me what to do; it's mostly up to me to decide what I research despite my lack of experience; I do not work for a senior analyst or PM
- No training/mentoring program; almost all self-taught; very little feedback is given
- Learning the basics about companies/industries, but no in-depth research / solid analyst to learn from; we probably spend a day at most on a new thesis before moving on to the next thing - there is no talking with customers, suppliers, competitors, etc. Involves little thought - just report what mgmt says it can/will do
- No modeling experience - firm uses an automated template; takes 2 mins to complete - plug in 3-4 basic inputs
- Firm performance and analysts are very average at best; compensation/promotion not based on stock picks
- Compensation, benefits, and hours are very good
Another job would most likely bring lower pay/benefits (at least for the first few years), less autonomy (probably working more closely with/for senior people), and possibly worse hours. The upside would be that a new buy side job somewhere else provides potential to work with more capable analysts/mentors (join a firm with a stronger track record), have more accountability by working directly with a small team each day (vs little communication / feedback / interaction at current job), and ultimately build a stronger foundation for the rest of my investing career.
I obviously have a very comfortable job and enjoy the freedom to learn about different companies at my own pace, but it's frightening to question whether or not I am actually learning how to be a strong investor beyond just knowing the basics of some companies and industries. Sometimes I feel pretty confident that I work at a marketer/asset-gatherer rather than a firm that is performance-driven with an edge. My confidence is pretty low at the moment, and I worry that I might not be developing the savvy fundamental/technical/modeling skills that are needed for success down the road...but the job is so comfortable...
So...would you stay and milk the cow or look elsewhere? What would your criteria be at this early point in your buy side career?
Thanks for your time and thoughts!
you're not satisfied with your role so u might as well start looking sooner rather than later. It doesnt hurt to test the waters. Basically stay with your role until you find something worth moving for. You dont have to commit either way but i recommend seeing whats out there and then deciding from there
you need to define your future career goals; where do you want to be in 1, 5, 10 years, etc, and whether this job helps you to accomplish them
it sounds like you feel like you aren't gaining any valuable skills so if you have any ambitious career goals, a lack of those skills may hinder your progression within the firm or outside of it. if you feel like you are becoming stagnate and don't see an end in sight at this spot, it's much better to move sooner than later
Thanks for the comments. I guess another question I have is the importance of working directly with at least one analyst/PM who you really respect as an investor vs self teaching yourself everything and not having anyone to mentor you that you look up to?
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