Will being a 1099 IB associate mess me up in the long term?
I’m an investment banking associate (since Jan) with a boutique firm I been with since I was an intern and worked my way up. I have my SIE, S63, and S79.
I received a FT analyst offer a week before graduation in 2023 and I was happy to have received something. We are a small team and we close a deal every 2-4 months, mostly private placements. The firm has me as a 1099 independent contractor, but they paid for my licenses, I’m on the website, and have almost reached 6 figures this past year.
I been thinking of the long term and wanted to ask if being a 1099 will affect me in the future? Will I be able to transition to a W-2 role / will firms take me serious given the 1099 status? I plan to leave IB in a year or so but feel stuck and am worried about this 1099 status. Thank you all in advance and I look forward to your help.
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