How difficult is for a 32 year-old man to begin a finance career?
Hi everybody!
I'm new in this forum, hope i'm doing it the right way!
This is my question: I'm a 32-years old CPA, with a bachelor degree in Management and a recent Master in Finance from Argentina.
I've been working in the pharmaceutical industry for almost 7 years, basically in the Finance Planning area. I'm a bit of stucked in the accountant cliche, and I don't see any interesting prospects here or in other related firm.
When I was at finance school, I fixed some basic knowledge I got and I learned some very interesting things. But I take it just as a "starting gun" to make my own research and learning.
I'm really interested in equity research (in which I'm very confident I can perform it very well), but I have the feeling I've become too old to make a change in my career from corporate finance. So my concerns are: is it possible to get an opportunity in Wall Street considering my age and expertise in corporate finance? Or I'm just going to be skipped by employers who only seek young people coming from Harvard or Stanford? How real are my chances to make it?
I want to make a change in my life, it's just I'm not 100% convinced I will succeed in it.
Thanks in advance for your comments!
If you work in the us you can try becoming an associate on a team that covers your sector
I know a 40 year old who got in as a VP, he's doing fine ... and another 35 year old who networked his but of for an associate position. Sell your story man.
What were their previous backgrounds?
OP, these guys are right -- you should network your butt off and look to cover the sector you currently work in. Also, have you thought about trading/investing your own money? It signals to employers that you have passion, and potentially the skill (assuming your portfolio does well).
35 year old was an air traffic controller for 7 years and served in the military - he was also a minority and fished his UG degree a few months back.
40 year old worked in Research (Univ), IT & Supply Chain ... he now does Risk Management at a BB.
all about the network at this point
Leverage the pharma/strong analytical math skills to sell your story and you can def land in one of those groups. There is a shortage of people with very specialized knowledge... I bet there's a niche out there for you, but the hard part will be in finding it. Networking will help a lot also. Either way, kudos on making the move and good luck! If you don't try, you'll never know...
I know a guy in his mid 30s who is now interning for the first time. He was a comedian before. It's definitely possible.
Am I the only one who finds this incredibly inspiring?
Definitely very inspiring. I tell his story to everyone that complains about being in their 20s and not knowing what they want to do, or giving up because they think its too late to go after what they want. Clearly shows that it's never really too late.
The guy I mentioned finally finished his UG a few months ago (took him almost 6 years because he had been out of HS for so long). He's an awesome guy and has a great personality, so I'm sure he'll do well.
I'm 29 and went back to school when I was 26 to be able to get a job I enjoyed and brought home a good living. Network and keep your eyes open at all times. 32 is young IMO. Just a fee years into real adulthood, plenty of time to change careers and redefine your life.
Network, network, network. But in addition, I think you might also need to have an angle or a unique story (not necessarily finance related) ... something that sets you apart from the crowd.
I feel like this happens to the greatest degree when you go from academia or public service into finance like a professor going into research or someone from the SEC going into compliance, etc.
I'm 41 with a law degree. My background is in commercial real estate brokerage.
1) How do you suggest I best make the transition to Wall Street?
2) My excel background is basic. I don't have any finance/accounting background. Are these classes (Training the Street, etc) really going to be enough to get me to the starting line?
3) What did that comic and the air traffic controller have to do re: training before getting hired to make themselves suitable for hire?
IBD is not hard.
Main concern of old analysts is
Afraid other analysts dont get along with the older dude in the group (seen as creepy)
Afraid older ppl have egos and are not willing to be bossed around by 25 year old bitter associate direct promotes who are pissed they couldn't get buyside and must now do associate ibd. 22 year olds are ok with being bossed around for no reason.
Afraid older people have lives
These 3 reasons combined generally mean no analyst is ever over 30. Haven't heard of one and I have friends at all BB's plus all elite boutiques.
If you're a 41 year old with a JD and strong track record in RE, you would not be coming in as an analyst. Most likely you would come in as an associate or VP, if you can land a job.
Not sure how you'd go about that transition right now. Maybe try applying at an REIT or in RE private equity or RE banking. Hedge funds that focus on RE would probably work, too. Also, you could try a MSF or MBA.
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