Lifestyle/Pay/Exit-Opps/Job locations.... A lot of questions!
I'm not really sure where this would go since it's kind of a broad topic, so I'll just put it here.
So basically, I'm thinking about a career in finance and wanted to get some real-life advice from people in the industry.
I know that this may sound immature, childish even, but, I'm wondering about a career where I have good hours, solid pay, ability to live in different countries, and interesting work. I know, I sound like a brat. I realize I have a lot of time (I'm still in high-school), but I kind of want to get a head-start. I know what some people are going to say: "You have no idea what you want to do in high-school etc. etc." and that is partially true. I'm trying to research careers as much as possible so I don't hate my life at 27.
From doing reading on this site, it seems to me that investment banking isn't for me. Basically, I'm looking for the job/industry with the best pay (think 80k and up), good hours (50 hours typical, more during heavy periods is fine), ability to live in different countries (I truly love different cultures and would like to live abroad), and a generally good lifestyle (ability to take a two week vacation and not get my head ripped-off). It seems like some HF's might give me this, PWM as well.
Is this even possible?
Thanks in advance
Equity Research is pretty good. Hard to get into though. If you are in high school... well... the investment banking industry is always changing so who knows what people will be earning/how long they will be working in the future.
Equity research sounds similar to what you're after. Decent hours (usually 50-60 with 70 hour heavy periods during earnings), pay equivalent to banking at least until you're a VP+, and ability to take vacation etc.
The work can be as interesting or uninteresting as you want, just chose your industry and vertical and then do what you want to drive value.
That said, it's probably also one of the hardest careers to get into, usually on an as-needed basis and not like banking where you have 100 man analyst classes.
Get perfect grades, top SAT scores and try to get into the best school you can. You will then be in a better position to choose your starting job, whether it be ER, IB, Consulting, S&T, etc.
Based on the criteria you presented I would probably take a good hard look at the energy industry. It's always going to be around and certainly give you geographic options. I'm not sure if I'd focus on alternative/renewable energy or traditional oil/gas drilling, deep sea drilling etc. but you have plenty of time to see how it all develops and it's going to be exciting and interesting, that's for sure.
Also, one other thing, I work for a middle market regional investment bank and the hours are not as bad as people on this board make them out to be. IB is exciting and interesting work and I think alot of the things you desire are still attainable esp in the MM such as a two-week vacation. I think people are usually too negative about IB on this board in general.
What kind of jobs do you mean in the energy industry? Still dealing with finance/business or no?
either way
you could get into an industry vertical at an ibank that has you doing just energy work (ex- a BB or elite boutique/MM firm in texas) and then go into buy side with this vertical as well
good for you for being so inquisitive at such a young age, i personally received a ft offer at a solid shop that i wanted, but could have definitely got into the likes of gs/ms had i really focused on my grades earlier in college if i knew what IB even was
you'll be fine either way if you're this proactive in high school alone, just dont burn out, get good grades, read a lot and network!
Maybe consider big 4. The hours during the 'slow' season are about 50, during the busy season up to around 80. After 3-5 years you'll be making 80K+.
Not sure if accounting is something you'd be interested in. Just thought I'd throw that out there.
Commercial Real Estate for the lifestyle
Engineering would be a great choice... High pay, good hours, great work environment. I work in tech banking and am often jealous of the engineering folks
What is working in tech banking like and how did you break into it? That is a route I'm considering.
Consulting would be perfect for your goals.
i'm surprised no one mentioned corpdev 40 hour work weeks and good pay
Uncle works at Big 4 corporate finance. Hours for juniors start around 70-80 hours a week and after 5+ years or so when you become more senior you'll be averaging 60-70 hour weeks depending on how busy it gets.
Starting pay is around $50k and after 12-15 years you can be earning $250k a year, well over that if you reach partner level.
that sounds awful.
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