Jobs with least modeling
New AN1 at top EB, struggling with both the modeling aspects of the job as well as the fact that I don’t enjoy modeling. Took the job from a non finance background but have always been smart and really good in interviews so I felt like this IB was right path. What’s the best job in finance for non modeling inclined people who are good w others? It seems growth may be better option than PE, or there’s always pivoting to sales entirely. Would really appreciate any advice on the larger finance picture and roles that would fit my skills better
Consulting is probably the go to answer but would love to hear other, perhaps more nuanced, advice
Consulting is definitely not the place for someone who hates modeling.
Capital Markets.
Investor relations as well. VC modeling is lite too
ECM. Interviews are all behavioral as well
PM me.
Highly recommend LP/allocator life in that case, you'll still be able to think and work like an investor, but most work will be fund commitments + co-invest so there is a lot less excel grinding involved. The top endowments (think Harvard/Stanford/Yale) pay mid 6 figures at senior level, really good comp for a 9-6 job. The larger pension funds don't pay bad either
What is the path to landing one of these roles typically?
I've seen tons of different profiles as LPs/allocators are not too particular on candidates with a set profile, but here is what I've seen:
1. Career FOF professionals (primaries/secondaries/co-invest), or guys that worked at family offices
2. IB (all industry and product groups)
3. PE (direct investing professionals, could be buyout, growth, venture, doesn't really matter)
4. Investment consultants (think the likes of Cambridge Associates, Albourne, Aksia)
5. Investment ops / accounting backgrounds transitioning to an allocator role. Typically these are more experienced professionals with 5+ years experience, seen this more with some of the older guys in the industry
6. Straight out of school. Some of the larger allocators have Analyst programmes, like Harvard and Yale
If you work in IB it's definitely a very viable move, but you have to prepare a good story as to why you want to move to the LP world / asset allocator space as opposed to doing deals
A relationship/sponsor coverage based role if you want to stay in banking, or the other side of that coin would be a banker coverage BD role at a sponsor.
Other suggestions in here are good too: IR at a good find or LP/allocator roles. Plenty of ways to make good money without strong technical skills or working unsustainable hours.
Secondaries
I’m at an EB Tech Group and feel somewhat similarly. But don’t tell yourself you don’t like it, just spend time trying to get better at it. Even if you go to a less modeling intensive job, you still want to have some of these skills. I’m planning on Growth or Corp exits with plans of operating down the road, and ideally a return to consulting/investing down the line once I have strong operating experience. This is our crash course into the business world, think about it as a paid version of taking an accelerated course on business and finance. Best of luck
Here are some jobs/areas in finance that do not require modelling:
1. Sales and Trading
2. Wealth Management
3. Macro Research or Research firms in general
4. Relationship management (could be IR or in commercial/corporate banking)
5. Investment consulting
6. OCIO firms (very good work-life balance)
7. Risk Management/Compliance
(I tried to arrange it in descending order of "prestige" from what I have gathered in my short time of grad school finance, don't be too harsh on me if I got the order wrong).
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