Fixed Income Sales to Management Consulting
Before I started my career I interned at a start up hedge fund for 9 months, and interned at 1 PMW firm, 1 investment manager, 2 broker/dealers, and 1 financial advisory practice. I went to a non target.
My current work history is 1 year at BB as a client associate, and currently 1 year at a fixed income broker/dealer as a broker. I recently passed my series 7 and 63 and I’m not sure if I should make the jump to consulting. I brought in 1 million in accounts my first year and believe I’ll bring between 5 and 10 million in accounts my 2nd year. (That will be spread into mutual funds, bonds, preferreds, structured products, etc., so average commission should be around 2.5%). A close relative is also a CPA so I have an incredible referral source. My base salary at my current job 35k and at the current role I’m interviewing for the base pay is between about 78k plus commission. In the new role I’d be working with the top 50 biggest banks and hedge funds selling outsourcing services and simplifying back office and trade processes.
I’m passionate about capital markets and would rather work in the financial markets. I believe over the next year I’ll end up making this same amount of money.
I’m tempted to take the consulting job as it will be more stable and provide consistent income and most likely yield more connections. But I believe long term I have a better chance of making over 300k a year in the capital markets as my experience and passion is geared towards the financial markets.
Any advice on what I should do would be greatly appreciated.
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