Looking for advice from strangers re career path
So I graduated this past summer with a shitty Liberal Arts degree from a decent school (T25 public). I started working at a primary research firm 4 months ago. I work in the hedge fund vertical, our clients are primarily Tiger cubs. We don't do ER, they ask specific questions e.g "NKE sales trends in china" and we address it with a few different products. We will survey NKE retailers in China, write an "intelligence report" on the findings, connect our clients with say a former NKE exec for a 1 on 1 call, or have a conference call with a few former execs and a bunch of our clients. I spend a lot of time on the phone with former execs asking questions on my client's behalf (potential revenue drivers, trends, etc).
So even though I interact with equities, I do zero ER. I read 10k's etc, but for the purpose of getting background on companies, their competitors...I'm wondering what I can spin this into, I'd like to be in a coverage group in IB, relationship management maybe. Whenever I look at those jobs I read "x amount of years in financial modeling" which I don't have. I have seen some decent exit ops from former employees here, but not really IB per se. Any thoughts, suggestions? It's hard to think of going back to school because I make decent money, but it won't be decent for very long so I need to position myself for a good exit op.
Eminis, I feel like I know the type of firm that you work at. We sometimes use a firm for finding us industry information, such as the size of a particular market, the general pipeline size of companies within a market, etc.
You said that you will stop making decent money after a while. What does that mean? My suggestion would be two fold. One, I would start by creating your own financial models for companies that you are asked to get information for. Say a client asks you to find the size of the tennis shoe market in South Africa. Obviously do that, but then spend some time after work putting together an operating model, DCF, LBO, and merger model for Nike. Will that be used by your client? No. But, it still gives you some practice and first-hand modeling experience. I did this when I lateraled from a "no-name" boutique where I did no modeling to a top MM. I did type up a lateraling guide based on my experience which you might find helpful.
My second suggestion would be to at least consider going back to school. I am not going to sugar coat this, but it will be an uphill battle moving into an experienced IB position without any prior experience or an MBA.
I hope that helps. Good luck.
Thanks bud, much appreciated. I used to spend more time doing DCF's and the like when I was in school and had more free time. Now working as much as I do I don't spend as much time bettering myself as I should, but I am looking to renew that focus and begin modeling again. Thanks for the suggestion.
Also, regarding the "decent money" comment. I make ~65 and live at home, so all is well. If I stay here for 2 years or so I should be making ~100 assuming I continue and increase my productivity (the comp system is somewhat convoluted, I'll spare you the details). Would it make sense to move into say an account management role here considering I'm looking to work in CRM?
I am honestly not familiar with career progression in your field, but, just to play devil's advocate, if your hours are good and you're set to make six figures in two years or so, why move to another industry?
Is this a place like Guidepoint or GLG? If it is try to tactfully reach out to your clients for introductions.
It is. It has been done before, but primarily by CFA candidates here who are looking to go into buy side. It's a good idea and I have been thinking about how to go about it. I want to do something to prove that I'm serious before I do it, along the lines of TeachTheStreet maybe.
I think he needs to go to Rick's Cabaret. They really do have a terrific lunch menu
haha, agreed...see you there
Sil, I just read your "lateraling guide," thanks for bringing it to my attention. I would be interested in doing what you did at your boutique. Is there a way for me to hunt roles like that down or will it be hard to tell which require modeling?
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