want to do consulting or S&T after working for Edward Jones
Hello, I have an offer to become a Financial Advisor with Edward Jones. Now before everyone disparages that name, just hear me out. I was thinking I would do the EDJ for a while (about 3 years). While doing that i would study for the CFA on my free time and take the test, assuming I get 700 plus on the Gmat, could i get into a good business school? by good I dont necessarily mean Wharton Harvard or Stanford but just top 20 ish?
If i accomplish all that could i get into S&T or consulting?
Thanks!
Don't do it. Get a job where you can network or gain experience or set yourself up for something better longer term. Edward Jones will set you up for failure. It's basically a glorified sales position. And by sales I don't mean "S&T", I literally mean knocking on people's doors (potential retail investors) to drum up some new business. Anyone can get in with them and I think failure rates are quite high. If you aspire to higher finance type roles, I would stay away at all costs.
Preach on. I've done something similar to this and trust me, I will never do another commission job again. Good for licensing but no salary just blows.
Does Edward Jones pay salary? If it doesn't I wouldn't plan on sticking around for longer than 1 or 2 years because it's harder than you think to survive on 100 percent commission.
Also, after getting licensed at Edward Jones, Series 7 etc. I would try to network in to S&T or maybe consulting directly without an MBA and explore more than financial advisory before even applying to business school. Personally, I think to spend three years just doing that is selling yourself short pre-MBA and not fully exploring all of your options in business/finance before applying. No need to rush. With FINRA licenses (Series 7 etc.) other options will open up. You just have to network, hire a professional to do your resume, take the CFA on free time and focus hard on networking.
Use the Edward Jones gig to make money until you can network and transition to something else. The financial advisory route is a tough job, prob the toughest in Finance, esp. if it's 100% commission.
Also, you may consider getting the MSF post working a little bit. Then later getting your MBA.
I'd advise staying away, you will get pigeon-holed into the FA role and will be real hard to break out. If you want to do financial sales and have a strong network, FA is a good gig but I'd advise doing it a top shop (ML, MSSB, UBS) they at least pay decent salaries.
wow i didn't know fa is that BAD
I think ML starts the first two years with a salary and then scale it back to eventually zero after two years.
Thanks for the advice. So you're saying i won't get paid at all in this EDJ gig?
you will but it is minimal
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