Any advice you can help me relay to a buddy?

I have a college friend who is in compliance. He kind of fell into it as he wasn’t able to do internships due to his legal status “dreamer”. By the time he graduated he had nothing on his resume but restaurants jobs since those are the easiest to get as cash jobs. He eventually fell into KYC and has been doing it for a few years and says to be miserable in the field as it’s pretty much mind numbing and the people he works with have no motivation and it makes him in turn feel dead inside as he is surrounded by mind numbness (which we can all agree with). Speaking to him it seems at one point got very close to getting a FO position as he was in direct contact with bankers and helping them talk to clients for all KYC related topics at one bank and from there a senior banker liked his ability to handle talking to C suit level clients and started pulling him more onto the business side. Apparently the senior banker had lost a junior and was using my buddy to do pitch books and research for potential clients in his sector. He said he used google and wso to fill in the gaps of knowledge so he isn’t asking trivial questions all the time and using his “lifelines” for more complex questions which I found as a smart way to go about learning without annoying seniors with what they think is trivial questions. Eventually he was going to be hired as an associate for the FO but then COVID hit and he got laid off before banks realized this was going to be a boom. I dont know what encouragement to give him other than maybe go back to do an MBA to pivot back in. He landed another KYC role to pay the bills but pretty much can’t take it much longer. Tbh I wouldn’t bother posting this here but he really impressed me with his ability to take nothing and try to turn it into something so I figured I’d make this post to get ideas of how he can maneuver back into a more banking role as my only though was go back to school (which seemed to be rough based on our talk as he supports himself and family). Last point is he now has gotten citizenship which is why he has held corporate jobs.

 

Blanditiis voluptas quaerat est. Impedit at excepturi aut provident pariatur.

Tempora numquam nisi doloribus qui asperiores sapiente. Ad voluptatem incidunt voluptatem nulla deserunt voluptate quod. Delectus odit voluptate omnis architecto. Eum sit et sit.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
CompBanker's picture
CompBanker
98.9
7
GameTheory's picture
GameTheory
98.9
8
kanon's picture
kanon
98.9
9
Jamoldo's picture
Jamoldo
98.8
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”