Greetings, all.
Long time lurker, first time poster.
I'm here because I could use some advice. I'm at an odd point in my career and I could really use some help fleshing out what it is that I could/should be doing.
Didn't study finance and consider myself lucky to be licensed and working as a lowely client services associate in wealth management - I'm the guy who picks up the phone when your dad calls his broker. I'm grateful to be employed, and to be on the team that I am, but alas, I'm a bit greedy and have larger aspirations for my career.
Currently, I don't make very much money, but I also don't work very hard either (45hrs/wk). In wealth management there's not a lot of upward mobility unless your dad runs a large book of business, or you're intested in going into management at the branch level, which is essentially a collection of compliance roles where you're reviewing documents and babying financial advisors all day.
I recently took the GMAT and did fairly well. I'm interested in IB and my resume is probably good enough to get me into Cornell/Darden/Yale/Duke MBA programs, which seem to be decent funnels into the industry. But, I'm not super attracted to this route because of the cost of the MBA, how old I'd be by the time I graduate (early 30s), and the fact that I'm not much of a night owl. Can I push 80 hour work weeks? For sure. Can I work until 3-4am? Ehh, probably not. My brain pretty much goes to mush by 10-11pm. I'm much more of an early bird.
So I'm curious, for those in the corporate finance/IB/PE, what are my other options? I've been considering maybe going for the CFA and then following that with a part time MBA from Stern. I'm attracted to the CFA partly because of my lack of legitimate financial education (see above, didn't study finance), and because it seems like it could help me pivot to a more technical research role which would help me financially. And I'm attracted to the part time MBA from Stern because it's a bit of a shiny thing and may help open doors to higher level roles later in my career.
I recently interviewed at a well regarded PE/PC firm for a client services role. I'm thinking if I land that, then I may be in a good place to make some internal pivots later down the line.
This is a bit of a scatter brained post, and I apologize for that. I wish I had some more knowledgable people in my life to flesh out ideas with and get my thoughts/goals more organized.
Thanks in advance for any insight - light hazing is welcomed.
Based on the most helpful WSO content, here's a breakdown of your situation and potential career paths:
Wealth Management to Investment Banking (IB):
CFA and Research Roles:
Private Equity/Private Credit (PE/PC):
Corporate Finance:
Alternative Paths:
Recommendations: - If you're leaning towards technical roles, start the CFA program. It's cost-effective and respected across finance. - If you want to keep options open for leadership roles, a part-time MBA from Stern could complement the CFA. - Use your current or potential PE/PC role to network and learn about internal opportunities. - Reflect on your long-term goals: Do you want a high-paying technical role, a leadership position, or a balance of both? This will guide your next steps.
Lastly, don't underestimate the power of networking. Whether through your current role, an MBA program, or industry events, building relationships can often open doors that credentials alone cannot. Good luck!
Sources: Private Wealth Management/Private Banking Guide for Associates, GS Private Wealth Management post MBA, Career path : CFA, part time MFE student, 4 years of working experience with operation/middle office, Lesser known MBA career options? Looking for advice on what to do post-HBS., Q&A: I'm a current MBA student in the NYU Stern part-time program
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