Leaving BB BO for Boutique in Nashville, Tenn: Advice
Hello everybody,
I wanted to first thank everyone that takes a look at this and decides to give me some advice or any helpful, motivational information. I currently working in Operations for a BB firm (location of offices outside NY), and needless to say, I am looking to make a change. I have only been working with the firm for about 7 months. I contacted a firm that I interned with in Sales in the Summer of 2009. The firm is Avondale Partners (small boutique headquartered in Nashville, Tenn...recruits a lot of Vandy, UNC, Duke kids apparently). To give you some background, I graduated from a nontarget, magna cum laude (3.8) with a double major in economics and finance in the Honors Program. Anyways, I contacted the firm over the Holidays, and what began as me just trying to keep in touch, quickly progressed to me pursuing a job opening as an Associate Analyst in the firm's equity research department.
Despite my raw skills, I must have made an impression upon the firm, because I went through the interview process (which consisted of several phone interviews, in-person interview, and modeling case) and have received an offer (covering Travel & Lodging...hotels and car rental agencies and such). I have aspirations of breaking into Equity Research, and during the interview process it was also mentioned to me that some of their Associates even move into the firms IB functions if it is determined to be a better fit.
So, I am asking the following: Should I take the position? My current plan was to stick out my 2-year ops program and take the CFA and self-educate, since Im not 100% sure what I want to do in life (who really is honestly), and then attempt to make a transition, trusting that I have the ability to create opportunities for myself. Or should I seize this opportunity and run with it (It's developing a working knowledge, getting a foot in the door in the industry for somewhat of a reputable firm, etc, etc). What are your thoughts? About Avondale...(exit opps), the position, my current situation, etc? Much appreciated.
Not in the industry but im assuming everyone here would say yes. FO in madagascar > BO in NYC
Forgive my ignorance, but I've never heard of Avondale Partners. Given that, I would still tell you to take the position without ANY hesitation. Ops is very hard to break out of dude, and you need to realize that just because you got an "out" 7 months in, doesn't mean you can do it again in a few years (unless you go the MBA --> Associate path).
Run with it and good luck.
wtf is an Associate Analyst?
in Equity Research, the common progression is Associate, Analyst, Sr. Analyst...or something along those lines (whereas its a bit different in say, IB...Analyst to Associate to VP or whatever the heck they do)..at least thats how it is at this firm. Basically, I would be working directly under, and in concert with, the senior analyst covering travel & lodging.
.
Let me get this straight:
1) You want to work in equity research 2) You have an offer to work in equity research 3) You are considering NOT taking the offer because, for some reason, you think "self-educating yourself" and taking the CFA might be more valuable than real-world experience?
Am I missing something? If not, how is this a serious question?
I've heard the name Avondale before but don't know anything about them.
As for exit opportunities: equity research experience + CFA > back-office experience+ CFA
Lot of Vanderbilt MSF students go to Avondale. They recruit on campus there.
Karate...I suppose i was just seeking some additional validation for my decision, as it is a big move in my life...but yes, I suppose I already knew the answer to my own question all along.
I figured you did. Hopefully my summary of your post helped solidify your thoughts.
Best of luck.
take the job... leave operations immediately.
even if it were a really shitty boutique i'd tell you to leave your job, but it's not a shitty boutique - it's a solid one with top people who had long, solid careers at Lehman and MS etc.
You should not take the job, just asking this question shows that you are a complete idiot and should just stay in the back office doing mindless tasks all day long. You are also massively, and I mean MASSIVELY, over estimating the impact of the CFA. Do you realize how many BO and MO people have a CFA and can't get out of operations? My suggestion is to do back office for five more years and then skip the Analyst job and take a hedge fund portfolio manager job paying at least $5 million a year. You don't deserve to leave the back office.
Clearly you add immense value
Just pointing out how insane this question is.
thanks lotsofquestions...best advice yet, i think ive made up my mind and I will stay in operations. But no, dont confuse the apparent obviousness of my question for naivety. The questions were more surrounding the firm and the exit opportunities...its a big move from where I am to Tennessee, and I have some things going on in my life that further complicate such a move. I have no doubt that I will be able to create opportunities for myself, I was just trying to decide if THIS is the RIGHT one to take at this MOMENT in my life. Sorry you can't understand that. As far as the comments of being a complete idiot...all i have to say is wow...tough crowd. Im sorry you have such narrow mindedness.
Definitely take it. Not much room for growth or challenges in BO.
^^^^ What were your expectations posting on an anonymous forum called "wallstreetoasis"
OP, I realize you are feeling good because you just got a job offer so now you think you can "create opportunities" but dude you are in the back office, this means that just 7 months ago you were unable to create an opportunity, and most likely you spent the previous 12 months before you started attempting to create an opportunity and you failed. Now you have one offer and you think it will be no problem creating an opportunity, if it was this easy you wouldn't be in the back office. Your post and response are ignorant at best. I'm not a kid with 6 months of front office experience, most people I know in finance had one job offer for the front office and made the most of it, the idea that these opportunities are going to be constantly available is silly. You need to get knocked out of your state of euphoria. You're concerned about exit opps and you currently work in the back office? What is wrong with you? This is like me being worried about how I'm going to spend $50 million from the lottery before even buying a ticket. If the new company knew your thought process they would probably withdraw the offer given that a million people would take that job with no hesitation. Stay in the back office and hold out for a Blackstone job.
I used to live in Nashville. Rent a studio or 1 bedroom at the Adelicia (900 20th ave. s.). Taylor Swift has a penthouse there (I met her at the pool and in the elevator). It's the nicest building in the city by far, but since it's Nashville and cost of living is so low, it's not that expensive. (It's also next to Vandy and lots of the fun places to go out, so you can hit on the Vandy chicks). And yes, take the job, just be sure you're ok with living in the South.
lotsofquestions...i suppose you are right. I agree that I have to take the chance, but please dont belittle me because of my thought process. The points you made were certainly in the back of my mind. I know I'm not guaranteed things in the future, I just wanted some other thoughts on the attractiveness of the offer to put things in perspective. I was just thinking aloud... to what I anticipated would be a supportive community. As far as failing, you're right, coming from a nontarget is difficult. But I proved myself by getting this job, and now I'm going to take it and prove myself again. Thanks for the motivation.
Take the job in Nashville. CFA is great and all, but there is no substitute for real-world experience, which you would get at the new job. Just try not to burn any bridges at the ops job. Make the most out of this opportunity. Most kids would love to be in your position.
Some times tough love is in order. Best of luck at the new job.
cant nobody hold me down
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