(Attempting) Transition from Legal Career to Finance
Looking for guidance on how to get my foot in the door in the financial industry. I'm a lawyer with a JD from a top 3 law school and 3 years of experience working for a major law firm in the Corporate/M&A group. After roughly two years of law firm life I realized I would not be fulfilled pursuing the law firm partnership path, and began to consider other opportunities. I had previously been investing in stocks since college and trading options since law school, and had built up a decent portfolio by this time due to some outsized returns on several tech plays. Rather than leaving the firm for another traditional job, I made the decision to invest in my "hobby" and trade full-time, to see if I could make a living using my own capital and reap the benefits of being my own boss.
I've been trading full-time for the better part of the last 3 years, and (as you may assume since I'm posting here) it has been far more challenging than expected. While I've been able to cover my cost of living and maintain a decent lifestyle, I've struggled to grow the capital beyond what I need to draw for my expenses, and the degree of risk I've needed to maintain to generate that income has largely eroded away any degree of "excess" return. I managed to have a particularly successful year in 2019 with significant alpha above the S&P, but unfortunately have struggled to replicate that success this year. I'm aware that most traders and PMs struggle with the challenge of constant uncertainty to some degree, but adding income uncertainty and a lack of organizational guidance to the mix has been psychologically taxing to say the least.
I'm aware that the decision to trade full-time without some degree of professional mentorship was foolhardy, and in hindsight it seems that some of my early investing success made me excessively optimistic as to what I could accomplish with my limited capital and skillset. With that in mind, what are the potential opportunities for a guy in his early 30s with a prestigious legal diploma and corporate law experience to crack into the industry? Is there a particular way I can "sell" my solo trading experience to a prospective employer, as (at the very least) it shows enthusiasm for the field and a willingness to take the risk of entrepreneurship? I'd ideally like to continue down the path of building my expertise in trading options and other derivatives, but am also aware that with my non-financial education and unconventional resume, I will probably need to be flexible with my expectations.
What step(s) would you take if you were in my shoes? Is this a hopeless endeavor without additional education/qualification and if so, what qualifications might be most helpful? Any (serious) thoughts appreciated.
Officiis atque et qui maiores non. Dolorem autem sunt aut suscipit quas facere.
Nisi autem commodi numquam iste illum sunt quo est. Modi hic labore reiciendis ipsam provident ut. Eveniet sint esse veniam et sapiente dolorem. Animi qui dolor et asperiores ex. Autem eos in vero non dicta.
Quibusdam eveniet in qui nulla. Libero recusandae alias quia provident beatae consectetur. Consequatur optio atque laboriosam minima voluptatem velit. Eos ut minima doloribus rerum inventore debitis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...