I've been involved within the financial sector over the past 3 years (I graduated in May of 2010). To say the least, it took me a while to find a job that I thought I wanted to pursue. Out of school I just wanted a job, so the first to find me was the infamous Financial Advisor position. Luckily, I stumbled onto a great producing team and thus was able to succeed, but that wasn't why I went to school and majored in Finance. I wanted something more.
That led me to where I am now: Institutional Equity Sales. It was an easy transition, which had MUCH more to do with what I went to school for. The position itself isn't glamorous as I am a sales assistant at the moment (they promote within), however, given I am at a boutique firm, there are numerous factors holding me back from receiving my promotion. I've been involved at this company for just about 18 months now, and have realized just how badly they treat their employees in this short time span. The guy I took over for (got promoted to the desk) is constantly being brought back to do administrative tasks and is required to help setup a semi-annual conference in which it requires him to work 16 hour days and basically put his clients on "hold" for a month. This is NOT what I came here to do. I know you all can say that I need to stick it out and just deal with it, but the funny thing is that NO ONE that has been in this position has made it in this company. They don't care about my or anyone else's career progression and it wears on the employees and our overall morale here.
Now this leads me to my next question, which is...do I toss in the white flag and go out for something else? I like finance, I really do...but if this is ANY indication on what the rest of the street is like, I want no part in it. I don't have many connections out here and am now wondering if the grass really is greener on the other side?
I have friends that work for startups, work in media, work in plain old accounting and ALL of them seem to be enjoying life a lot more than me and some are even making more money than I am. So I ask myself, what's the point here? Any insight would be greatly appreciated!
Go to the startups if they pay more.
Depends what you really want to do and where you will enjoy. Are you equity research sales? How big is the firm you work for and are you able to have any type of guidence or mentor on the desks?
I'm equity research sales, yes. My firm is 80-100 people deep and there is definitely no mentor for me on the desk. When the time comes, they'll put me on a team only to be ripped back into my useless, administrative tasks for their next conference. This has been going on for the past 4 people in my position (only 1 of them is still here and he is looking to get out as well).
Just doesn't seem like a conducive place for me to continue my career.
I like the startup scene, I really do. But I also get the sense that once I leave this sector (finance), I'm OUT for good and there's no getting back in. Is that the case?
Also, another question I have is that is this actually what all of Wall street is, or am I working at the exception right now?
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