Career Change from Banker to Investments
I'm currently a personal banker with Chase Bank and am looking to get a job as an analyst, associate, or specialist in the investment arena, ideally in a Midtown/Downtown NYC office. I'm Series 6, 63, Life Insurance, and Notary Public licensed, with two bachelor's degrees (int'l biz and marketing).
Chase bankers will not be hired by the JP Morgan side, since you have to leave them and then come back to the company. Compensation is unacceptably low, even for a severe recessionary market. I even have management experience, albeit in retail.
Any advice anyone has, even if it's really tough, would be greatly appreciated.
your background in commercial banking is going to be a big handicap if you are interested in investment banking. your best bet is to learn a little bit more about the "investment arena," hone your interests to 1-2 areas so that you don't stretch yourself too thin, and start networking your ass off.
as a suggestion, I'd remove your signature with all of your personal information.
good luck!
your only bet is b-school
How does it feel to work in the bronx?
I worked at chase when I was a freshmen in college...back then they had a mentor program in place for employees...why not search for it and get paired up with a mentor who is currently working in the area you wish to work in. Also, like esbanker said, you will be at a disadvantage coming from retail banking. When I was applying for internships in banking, people did not look favorable upon my background in retail banking. I second removing your personal information from your signature.
good luck
go into private banking or private wealth management. Get a big book and show the banking guys who's the real boss.
Some people have been able to transfer from retail to commercial banking and then to investment banking! It takes a great deal of luck and networking, but it's possible.
You probably have a decent chance at Private Bank because your skills might be transferable. From what i hear, Private Bankers once they get a client base, they make good money and have nice work life balance. You better have a very social and outgoing personality to succeed.
Last advice, try to be open-minded. Take on some projects, help someone with their assignment, and so on because you will never know when the opportunity presents itself.
When you say go into the "investments" arena are you referring to equity research/asset management? If that's the case research the CFA program. Even passing level 1 is a big time step into showing employers your serious about breaking in.
Start spending dough... MBA Training programs CFA Network
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