Fidelity investments WPA wanting to jump into new career
I'm a workplace planning associate at Fidelity Investments and base is 65k with bonus of 15k... my options are this:
Climb the WPA tree:
WPC 1 65k w/ 15k bonus...
3 to 6 months later
WPC 2 68k w/ 24k bonus
1 year later
WPC 3 74k w/ 27.5k bonus...
From WPC 2/3 you can look for a branch and go work as a planning consultant or investment consultant working under an FA..
I think those roles pay about 110k to 150k depending on location
And from there work into financial advisor with anywhere between 100k to 500k total comp depending on book... I hear they pay small for industry...
My goal is really to make 200k plus and I hear IB or S&T may be the route I should explore...
Everyone at fidelity is very happy and idk if I want to risk jumping from good to bad culture and hate it...
I don't want to be in New York..
Have SIE, series 7, 65, 63, 215 and worked in RIA's before fidelity.. I like the trading side of things but no real IB experience.
Went to a small college and have finance degree... should I pursue MBA or just go with CFP/ CFA
Thoughts on where I should jump or just hold course at fidelity... ideally I'd love to go Europe or south Florida.. Maybe a fun city in south
Based on the most helpful WSO content, making a career transition, especially from a role like a Workplace Planning Associate at Fidelity Investments to a more lucrative position in Investment Banking (IB) or Sales & Trading (S&T), requires careful consideration of your qualifications, career goals, and the potential impact on your work-life balance and job satisfaction.
Given your current credentials (SIE, Series 7, 65, 63, 215) and experience in RIA, along with a finance degree from a small college, here are some thoughts tailored to your situation:
Pursuing Further Education (MBA vs. CFA® vs. CFP®):
Career Path Considerations:
Location Preferences:
In conclusion, if your primary goal is to significantly increase your income in the short to medium term and you're open to the challenges of IB or S&T, pursuing an MBA might be the most strategic option. However, if you're more inclined towards investment management or financial planning, the CFA® could be a better fit. Given your location preferences and interest in trading, researching MBA programs with strong finance tracks in those regions or considering roles in asset management or hedge funds could be a wise move. Remember, networking and leveraging your existing credentials will be key, regardless of the path you choose.
Sources: What Distinction is Better - CFA®, MBA, or CAIA?, 5 things I wish I had known when I was a business undergrad...
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