Little background:
Worked as an equity research Analyst at an Equity Income Fund for nearly two years ( about 500m GBP aum). Have an MSc Finance from a top London Uni and a CFA level 1.
Personal reasons I want to move back to my Home city, which is a back office Hub, with alot of banks operating there. This is something I need to do as soon as possible.
I've been applying for a few months and the roles seem simple, plus I've been getting dinged every time. Had a recruiter come back to me offering me half the salary of what I currently get for an Analyst role ( apparently an Investment Analyst doesnt translate to BO roles).
I thought Front office experience is highly valued? I'm getting rejected for Fund accountant and Fund oversight roles? Had a friend who literally applied to the same role ( was an accounts clerk at a small insurance company) and get accepted.
Whats the deal?
Knowing someone who did this I will say you will hate your life. Think of it as if a race car driver went to work at the DMV. Are there no FO jobs where you are going? Maybe boutique shops? Don’t throw your career away like that.
The reason it’s a back-office hub is that labour is cheaper their, aka your salary will be less. Also, moving from FO to these roles means you have no experience, and there's a chance you'll leave quickly or think you're better than others. I wouldn't hire you, you'll need to sell your story about how you're looking to be with family, and you're looking for something that related to your old work but allows you to be with family.
i would suggest you re-write your resume to sound like you are doing ops type work where you are right now (similar to what the job you are applying for does) ..and remove all front office type stuff.
you want the hiring manager to say "this guy looks like one of us" not "this guy looks like a guy who works on the side of the business that sends us work"
what exactly are these back office guys looking for? A friend told me alot of guys in the back office dont see the difference between FO roles and BO roles, how true is this?
maybe they do not wanna see the difference so they could feel better
What is this personal reason? (If its not too personal) If its to care for family, they’d understand and probably prefer you focus on your future. Pay someone to help around the house or care for them. Take time off if its terminal.
Best of luck.
To do with a multitude of personal issues man. Mainly family illness and relationship issues. I think at my current point in life I'd rather just spend more time with my family and be around them. As long as I can get a job that gives me a fairly decent and modest life I'm okay with that. Not concerned with money at the moment.
You have a "CFA level 1"? lol ok
Do you say that in interviews too - "I have my CFA level 1"?
CFA is not a noun. You talk like you failed the shit out of Ethics.
Dude don't be a Fund Accountant.
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