Stay in Technology or move to Front Office?
Hello everyone, need your advice on my future career.
I am studying Computer Science in top UK uni, I finished 2 years already out of 3 and now doing a year placement at the top investment bank as a Technology Analyst in London, afterwards going back to uni for the last year. I'm doing well at work and have good reviews from my managers.
However, while working there I suddenly realized that in technology you are not going to be paid big money. Whereas, I always wanted to become rich and independent and I don't see how i could achieve it in technology in banks. As far as I can see I have the following paths: a. Stay in tech in banks, after 10-15 years, earn 100-150k pounds and live with it whole life as its almost maximum in technology as far as i understand. b. Go to hedge funds, do more interesting stuff and get slightly more than in bank's case. c. Join/Create a startup in hope it will become successful, work will be very interesting, but probability of success is very low. d. Work as a contractor in banks and get around 9-11k pounds monthly which is around 200-250k yearly d. Leave programming and transfer to front office ???
I enjoy programming, but i don't feel challenged at the moment, work is easy, chilled, with 9 to 6 hours. At the same time I don't know if i would enjoy working somewhere in front office. I definitely could do it as I am not a nerd, but even opposite. I also have ambitions and enthusiasm. I feel like I could always go back to technology if I don't succeed in the different field as i will have related degree and skills. So I think its worth moving to trading or something else. Investment banking is not for me as i want to have some life as well. Trading sounds more interesting to me, moreover I played with forex a little bit while younger.
Basically my questions are: 1. Is it possible for me to move to trading as a graduate or get a summer internship in the same bank? If so, how difficult it could be? 2. I don't really know much about trading, it seems to me these guys will be getting 500k-1m in their thirties. Is that really a case? Is trading difficult? Are there many people failing? 3. Any other highly paid fields worth trying with technology skill set?.. 4. General advise on my situation would be good to hear
Thanks guys in advance :)
Check out Navinder Singh Sarao, accused of causing the "Flash Crash'. "Department of Justice estimates that he made about $40m in total between 2010 and 2014".The guy was buying discounted sandwiches and living in a tiny house, he had no interest in the dollar amount, the money was just the currency to measure his success rather than an end outcome. Seen many similar stories of top traders being similar, albeit anecdotal rather than first hand experience.
Does your university have a trading club? I know Bloomberg and others come to my Uni to run trading competitions, could be of use to give you some insight whether its a path you should follow.
3.Have you looked into FinTech? I've been looking at it as a potential alternative to the finance industry, the rise of disruptors looks to be a great way to make bank.
What programming languages are you focussing on?
@Wu_Tang_Finance Hey, thanks for you reply, I am mostly interested in fintech, studying this topic now, wanna find interesting startups to join or something. Currently know java and c#, wanna be proficient in java, c#, c++, python
@Managerette Thanks for you opinion, I agree its better to do what you enjoy, The only question left - find what i enjoy doing :)
@rj1443 Sales is not for me, I am different kind of person.
1 & 2: Not my area, cannot answer.
3: Define "highly paid". Technology sales and implementations can be lucrative if you are good (my ex made $220k at 30 selling payroll systems and spent a ridiculous amount of time going on snowboard trips, etc). He was good but would have made more if he spent more time working and less time wakeboarding. Don't be fooled though, you will also be broke and unemployed if you are bad.
If you get away from learning "programming" and to something more general IT/IS there is consulting, transformation, and other more general "technology" jobs which are less programming and have more flexible career progressions.
4: With anything, it's better to follow what you are good at and enjoy immensely - high comp can come up in very unexpected places.
Have you ever considered Software and Tech sales? i'm not sure if you have an outgoing or stunning personality, but this is where many of the upper executives in the software industry have come from.
One more question, assuming that I am doing a year long work placement, have good reviews from my team, is it possible to come to HR and say that i would like to do an internship in trading? Or I need to network with some people from there first?
How about Tech Sales for IBM, Cisco Systems, Oracle, etc...? My father has earned a pretty good living doing that his whole life. take a look at salaries on Glassdoor. If you're an a average performer 300K+ is very doable. I know people in their early 40's making 700K+ (these are high performers). Just my two cents from growing up with a lot of folks in the industry.
what I have been trying to tell a lot of people. Its one of the quickest way into executive positions, and its the equivalent of being a broker in the 90's. Tech is taking over everything... might as well sell the poison. Plus this type of sales is nothing like a quick insurance sales man, this is more of a consulting style role where we analyze what platforms can streamline their operations and make their business run efficient. A lot of consulting firms even partner up with tech companies to bring in sales people during a project. Example: Cerner landed the department of defense contract due to an outside consulting practice.
Move to the US and join Google. 150k starting salary. Lower tax. Lower cost of living. Work on more interesting problems. Be at the right place to spot and jump into successful startups. Or move up the managerial ladder. I graduated from a top UK uni, too. I moved to the US 3 years ago and am now 2 years away from financial independence (I didn't even study CS). UK is just not a great place for wealth accumulation, or even job security given the Brexit and Theresa May...
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