Advice to help me out of the BO puh-lease!
Can anyone give me solid advice to help me get the hell out of the BO? I don't want to be PM, but I want to do something more meaningful -- Product/Account Management or Sales.
Here is my dilemma in short:
- I have > 12 years work exp, am I too old now?
- My work experience is mainly BO technology for Tier1 equity and fixed income shops
- I have an MBA, from a Tier 1 but NOT a top ten school though
- No CFA
- Pulling 170k total comp in the BO for an 8-5 job.
I see the "end of the road" in my career progression and want to make one last push into the FO. Am I just having that pipe dream and need to sit down and shut up?
- Can the CFA help me (networking the next few years is assumed in this choice) ?
- At my comp level, do I just let it go and by a company man? I know it's nothing compared to the real dimes, the real pros make.
Any advice will help. TY in advance.
You already have your MBA, can't do anything about that anymore. You're older, getting in through junior roles will be no good. You're unhappy, so you should do something else. For a sales role, CFA is not needed (that's what I think at least).
In my opinion (and that's just my opinion of course), you have to start talking to people. In your 12 years of experience, you came across many different people in different areas (including sales, which is your goal), use those contacts. Start networking and reaching out to them. Start showing interest and asking for advice. Use any contacts you made during your MBA program, some of them have to be doing something you like and may help you. Feel it out and stay persistent...that's all I got.
8-5 170k sounds sweet
Wow you truly are a Back Office Bandit. Banana for you.
Its possible just network. Do you program? I know there's a big push to automate OTC products similar to equities so maybe that's a path. I mention it because I know an Director at a BB who has no degree and tech experience and hes in a FO role.
The following are relevant questions you need to think about - while every situation is different, you're going to have to make some tough decisions.
It's hard to give advice based on the small amount of information you gave. I'm assuming you're about 35 - the switch is somewhat unusual, but totally possible if you're driven enough. You have to ask yourself HONESTLY why you're doing this now.
Good luck.
Thanks UFO and everyone else who posted.
Here are the answers to the questions that you posted for me:
- The baby needs a new pair of shoes...!!? Im pretty sure that I'm close to max out salarywise in the BO, unless I get a C-level BO position. But, c'mon, I know the truth that it will not happen. Easier to get more moolah in a revenue generating job rather than being a cost position.
- Yeah, I Fkd up there, since that was a good exit opportunity with recruiting support at the school.
- I'm working on that right now and it's looking like networking will be the only way.
- Sure
- I'm not asking to do IB and don't want to be a PM, I just want to do more challenging things . ie. client facing work rather than mundane BO tasks.
- I already work with a bunch of people a decade older than me now.
- See my answer to #5. I just wanted to put the feelers out there to cross check my decisions. I've always been a lurker on the forums, never a poster. I tell you at those hours and comp package, I'm not starving anytime. But it's always good for more.
- You mean I can't pull it off with just the CFA? Getting MSF/MFIN isn't worth the cost/tradeoff. I'm stil paying off the MBA loans. But if MSF / MFIN is the only way into something like analytics, then I pretty much have my answer.
- Family, check.
- If I can't get FO role, then i'll just stick around to get my 3-5% increase a year. Hopefully be at 200k in 4-5 years. But honestly, other non-financial industries don't pay as much. That's gods honest truth.
It's hard to give advice based on the small amount of information you gave. I'm assuming you're about 35 - the switch is somewhat unusual, but totally possible if you're driven enough. You have to ask yourself HONESTLY why you're doing this now.
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