'low level' finance jobs
What is WSO opinion on 'industry' jobs at SME type companies?
For example: Credit Risk Analyst @ a mortgage firm Underwriter @ an insurance company (if you consider this a finance job) Financial Analyst @ a manufacturing firm
The reason I ask is, it seems as if everyone here is hell bent on getting an assosciate position at a i-bank or working as an analyst @ a hedgefund. Is taking a BO position at a small-medium sized enterprise considered 'failure' ?
I do not work in finance neither is my educational background in finance, just a naturally curious person who loves WSO.
HYP to GS TMT to BX LBO after HBS MBA or GTFO
/gtfo
For majority of wso people, failure it is.
Look, research what those jobs entail, not what people think of them, and do what makes you happy.
If you have a good time screwing your girlfriend, don't ask her if she wishes you had a bigger pecker or whether she's had better.
Plenty of people here will shit on BO jobs. Doesn't mean they're not good to have. Job's a job, especially this year.
High level finance (what WSO is all about) generally attracts the smart, type A personalities of the world who want to make the most money. For those types of people a back office job would definitely be considered failure.
The real failure is to deliberately choose to be jobless because
1) You think a job title is below your standards 2) You have such a low confidence in your ability to succeed and overcome the odds that you are looking for approvals from complete strangers who live in a virtual world.
lol, im not the least bit concerned about what anyone thinks, just wanted opinions :)
like i said..i do not work in finance nor do i intend too.
I disagree with manufacturing being a low level job. I work at a group fortune 500 HQ. We deal a lot with supply chain and branding, so it is def not low level by any means. A lot of our stuff includes late nights with Hong Kong and Europe, and our analysis is very intense at times. Def a good experience in my opinion... Of course we all want to be the dealmakers and not an analyst for more than a few years, however financial analysis is what it is, whether it is I banking, Retail, Manuf... The models are the same, and you are usually crunching excel in those beginning years anyway...
Well put.
Low finance job is like donkey work which start from morning 9 am end in 10 pm .
What sort of career paths do jobs like this take you on? Exit opportunities, promotions, etc.?
A lot, think about it, you work for a fortune 500 company who does M & A as a part of their core strategy to find more cost effective ways to buy, sell and make a product. You oversee finance and touch on things like sales, planning, analysis and trends. You are able to see a lot of different stuff and are able to connect the many different parts. If you want to make some real money, you could start your own business, or become one of the many VPs of a certain niche. It presents itself well, and the hours vs I banking are incomparable which is nice. 50-60 hours not much more than that, getting paid a decent entry level salary 68k is what i started at with 1 year accounting experience. I would say thats not bad for a suburban town outside of Boston. Not to mention the training we get as opposed to being thrown into the fire.
It's not that BO jobs are a failure, it's just that this site is specifically focused for FO jobs. I reckon there are plenty of BO forums out there, like subreddits like r/FPandA for starters. On those sites you'll probs get legit advice for landing respectable industry jobs/ BO jobs like FP&A, corpfin or accounting, and they won't be seen as a failure. Basically, go to the butcher for meat, go to the milkman for milk
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