Corporate is a grind - should I get a MBA to move into cushy finance job?
So after working in the corporate world for a while, I am starting to realize what a grind it is. Most corporate jobs that I am thinking of (FP&A, Strategy & Ops, Strategic finance, corp dev) don't really pay that well, and still requires a decent amount of work. I've worked in Strategy & Ops at a tech company, and my bosses were constantly drowning in work. I also know my boss roughly makes like 160K base (my boss has a MBA from a top school and has MBB experience), which is pretty low when compared to finance salaries. Also, I feel like it can take a really long time to climb the corporate ladder, and even if you do, you'll still make less than someone in finance.
This leads me to my question: does it make sense to get a MBA and move into a cushy finance job? I am thinking of jobs like corporate banking, asset management, etc. I would not be interested in investment banking due to the work life balance.
I mention corporate banking because I know the work life balance isn't terrible, and associates are probably making more than 200K. Yes, the work is boring, but I've also come to realize that all work is boring to me.
To me yes
I haven't heard of corporate banking hiring MBA grads.
LMK when you find that "cushy finance job". The only jobs meeting this criteria usually have horrendous pay and incompetent employees
I'm mainly thinking about corporate banking, but would love to know what others are out there. I heard asset management is fairly cushy as well and you don't work a lot of hours.
I think those are fair options with the caveat that you need to do solid DD to find a firm that offers reasonable comp and truly brings a decent WLB. PWM and Commercial banking also offer these opportunities. In commercial banking you can be making 200k a year by the time you're 30-32 working <40 hours per week and playing golf 2-3 times per week. The downside is the salary for the first 5 years or so is generally bad, but coming in at a post-MBA level would likely elevate the shallow salary during the early years.
Front office Asset Management is generally not cushy. Not as bad as IB, but I would argue it is more stressful. A couple wrong calls could be your ass out the door. One bad year not beating the benchmark, bye bye. One major institutional client who just yeats and you could be gone. Maybe it's different in a passive shop though, can't really speak on that. Also it is one of the most if not the single most competitive job to get post-MBA. Very few seats in the FO open up nationally.
If you want cushy, look into back office at an asset manager and climb up to manage or direct a team/department. Things like trade ops, fund accounting, etc. Or do an FLDP post MBA which is usually a fast track to manager/director and even higher. Alternatively, working at an allocator like a pension fund or foundation I hear is relatively cushy for front office since you are doing manager selection but even then you could have fire drills for time sensitive co-invest opps and have to present everything to an IC which means making slides/memos no one will read.
It really depends on your situation, experiences, and background . MBA is most important if you are looking to meet people. IB could be a route if you get into a top MBA. If you are trying to break into the asset management business, try investing on your own time and studying for the CFA if you are interested in the investing side of the business.
Which route you choose really depends on your unique situation. Happy to discuss more if you are interested.
Wealth management and digital advice are the future
Would you be able to elaborate what you mean by that? Do you mean that WM is going to be digitalized and automated in the future?
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