Advice for Current LMM Analyst
I am currently an Analyst at a LMM located in the Central US making about $75k. I have about 6 months left in my 2-year contract and it is looking pretty clear that I will not be hired as an Associate. More than half the work that I do is admin work: interacting with our CRM, updating port-co's financials and exhibits, taking call notes, market mapping, etc.. I feel as though this 'b*tch work' focus has contributed to sub-standard modeling skills and I am spending my evenings to get caught up in this area. From the limited info I have, it looks like they're planning on hiring one of the interns I trained to take over and do his two years of admin work. I've asked for constructive critisism and am continuously tring to develop, but am realizing more and more than I would've been better off elsewhere - but opportunities were not too great coming out of undergrad from a non-target school.
I guess I'm not really sure what I am asking. I'm partly interested in switching to ER, as it is more of a genuine interest to me than private transactions - but I struggle thinking about any foregone trajectory and have yet to realize the premium compensation that this industry offers. Almost through the CFA designation but will not be completed before my contract ends, and no MBA.
I would be grateful for any advice or insight that someone wiser than I may have.
You might want to ask a question if you are looking for advice?
Very helpful advice. Not to me, or this post and its call to action at the end, but to someone I am sure
I would table the CFA for now. If you have level 1/2, great, but don't waste the next 6 months on that. Even if you're interested in equity research, it's a "nice to have some progress / interested in getting it once you start" rather than a must-have or worth spending your basically 6 months of job-hunting time on it.
Luckily you have 6 months to figure it out. I would dual-track three things:
1) networking with the jobs you want - you mention equity research, start thinking about what else. See what jobs are open, especially in your coverage industry, and network with them
2) Start networking and applying to any finance job you find. Cast a wider net here, corp finance, strategy, etc. You need to have some irons in the fire in case #1 doesn't pan out
3) Start working on GMAT / MBA prep and keep an eye on MBA deadlines. If you don't get a job you love in 6 months and end up taking something you're kind of meh on, you can head off to MBA and use that to pivot to what you want to do next (IB, ER, whatever)
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