What Career In Finance Has The Highest Job Satisfaction/Happiest Avg. Employee?
What Career In Finance Has The Highest Job Satisfaction/Happiest Avg. Employee?
Serious question. Not asking about your dream job, because in many cases you see people work in GS TMT or KKR and they are absolutely miserable.
What would you imagine are the divisions, groups with the highest average satisfaction or happiest/most fulfilled employees?
I haven't seen this topic covered, so i'm interested in all of your thoughts.
I’m biased but I definitely feel like people in S&T are generally quite content and happy.
I’m surprised by this comment. I wanted s&t but it seemed like very few people were happy in the role. Always talking about the glory days.
ER, but at the very senior levels. It's just schmoozing with clients while associates build all your models & I have heard that some II ranked MD's in ER work like 35 hours a week while clearing LSD 7 figures.
Maybe not the best fit for type A bankers who are gung-ho about buyside, and PE, and maximizing salary, but for others investor relations has pretty high satisfaction of those who purposely chose to go that path and aren't there because they dream of going into PE or another banking route. Good hours, can still clear $300k at the higher ranks.
A lot of insurance companies have really low turnover, so probably an investment role at a place like PGIM, Metlife, Nuveen, etc. I think the only objective data point would be employee turnover, so pretty much any role or firm with a low rate would be a good lifestyle choice.
I work in Long Only Asset Management and everyone seems to really like it. It's similar hours and comp as ER. Knowing that you don't have to work too much and still can clear 7 figures is pretty tough to beat.
Most people came to my company looking for a lifestyle shift and looking to work fewer hours. Everyone seems relaxed and fairly happy
How many break 7 figures?
Where I work, it's not a ton. Could probably count on two hands everyone who does of ~550 investment professionals. That said, where I work, investment professionals take a considerable haircut. Our competitors all pay quite a bit better.
I think this comes from having a noticeably better lifestyle than other companies in our space, which already afford a great lifestyle. Most investment professionals are fairly close to 45-50/week with the hardest working taking no more than 60/week. No weekend work.
Asset management, hands down. I worked for a few years at one of the larger asset managers, and I would say that after 4-5 years as an investment professional you can most likely clear $500k while working 50-55 hours a week, sometimes 60, with much better control over your time and very little weekend work. More senior folks make 7-8 figures easily.
Issues: very low turnover, no exit opps really (you just lateral to other asset managers), ever-increasing pressure on fees and less focus on active management, both of which have been driving and will continue to drive down profitability.
Overall a really good lifestyle choice if you enjoy financial markets.
Curious to hear about your thoughts on the space?
Currently working in it at large Long Only, but just joined having graduated college and somewhat skeptical, due to the reasons you mentioned above and because promotions happen very slowly. Since I'm so early in my career, I've thought about lateraling to another space. Like my job as it is right now, though. Work ~50 hours a week and only a slight haircut compared to competitors since I am so junior. Also nice since I'm in a LCOL city.
Successful financial advisors
I agree, but across the board so many unsuccessful FA's are not happy and feel trapped. So I don't know if it's the best example. But for those clearing LSD 7 figures as ED's or MD's at UBS/MS/ML and only working 45 hours a week it is a pretty amazing gig
Not PE.
bump
I think at a young age and without a family sell side/capital raising is really fun. Probably would say PWM at the MD level and investor relations as the client dealing with the IR sell side team for a corporate 500 type company as an older guy. All speculation from me though
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