Career Direction? Anyone - Coming out of a non target MBA program
I'm coming out of a non target MBA program. I know it wasn't the best move, but it actually got me from manufacturing sales to having two current job offers. One is with a regulatory agency that oversees F/X and Derivatives....The other is with an Insurance Brokerage House as an entry level broker.
I know these are two careers that are commonly mocked in the forums. I'm not a front office stud, but which of these would you choose? I've heard money in compliance can be decent...but also the insurance brokerage is kind of front office in a way that it generates revenue. Honestly, all I care about is which career I can make more money in down the line. Ideally, I'd love to be a trader, but that's too farfetched.
Any other careers better than this a non-target can look into? Or which of these would you choose? I'm having a very tough time making up my mind and would appreciate any direction whatsoever.
If, as you said, all you care about is more money down the line, go with the brokerage hands down. As you said, compliance is not a profit center (especially given it's a reg agency). Front office pays better than back office because that's where the money is, the same thing can be said here.
I would choose the brokerage.
Thanks this is very helpful.
What do you mean by insurance broker, do you mean selling insurance?
And by regulatory agency, do you mean back office, or something like the SEC?
Selling life insurance vs being a broker handling large corporate accounts? Big difference there so a bit more detail is needed.
Sorry for the lack of detail. The insurance job is dealing with large, corporate insurance policies (Casualty/Prop) (Think Aon, Marsh & Mclennan) I'd be broking the insurance to different carriers, etc. Not a role where I'd be forced to bring in business. It's more negotiating premiums and putting together the best plans for our clients.
The regulatory job is with an agency that oversees trading - like FINRA - except on the futures side (and recently given jurisdiction over CDSs and other derivatives). Could possibly lead to a compliance job on a trading floor one day or maybe with the Commodities Futures Trading Commission (CTFC)
Both pays around 55-60 to start.
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