Looking for Some Career Guidance
Hi,
I am a 27 Year old Senior Financial Analyst at a FAANG Company. I'm pretty content in my role working 40-50 hrs a week and will probably be promoted in the next year to Financial Manager. Current comp is ~150k before stock appreciation. I am also a CFA L3 candidate. At 27 I feel like I need to settle on a career path pretty soon and am wondering if I am on a good trajectory. Would it be a good idea to pursue an MBA (3.7 College GPA from a USNWR Top 40) or try to get into IB or ER at this point or would I be better off continuing to climb the corporate ladder? I am also tempted to lateral over into a Senior Technical Product Manager Role. What are WSOs thoughts? Thanks in advance
Sounds like you are on a good trajectory in Corp Fin. The real question is do you feel like it’s the career that makes you happy and satisfied or you think the fast-paced IB life is something you like more. Nothing wrong with being ambitious at this point you can go for MBA if resources allow - there won’t be no regrets as you can always go back to corp at a higher position if it turns out to be a wrong choice for you. So why not!
On separate note not relevant to your question, you mentioned you are likely going to be promoted. I am at the similar position and looking for a promo but not sure what else I need to do to get there. Can you share what you did in current role to achieve a promo?
Thanks for the thoughtful response! I am definitely happy and have good work life balance currently which is super important, however, I feel like I could be challenged and stimulated a bit more. I worked in IB for a lower MM firm for 1 year and it was not a great experience due to the grunt work, hours, and below market compensation. Perhaps as an associate at a solid firm it would be more stimulating but I think I would at least need an MBA to land at a halfway decent shop? Equity Research would be cool too but not sure how my experience, outside of CFA coursework, would translate.
With respect to your question on promotions I think its best to communicate your desire to get promoted, ask for feedback constantly, be smart about expanding your scope and influence within your org/company, and maintain an open dialogue with you manager and skip manager.
Just on a $$$ basis, with a promotion you'll be clearing close to $200k correct?
An MBA would be $600k in opportunity cost in your case ($200k tuition, $400k salary). If you're fine with your current job I'd personally stick with it and look to climb the corporate ladder (unless you're blocked and you need to get an MBA to go higher).
IB isn't that 'intellectually stimulating' if anything its probably as boring as being a financial analyst. Not sure about the PM role but that would probably be a better shift if you're interested without having to spend money + two years on an MBA. Most MBA associates leave to corporate within two-three years anyways as well.
Yes, from what I have heard Finance Manager is about $200k in total compensation before stock appreciation, and I agree with you on the opportunity cost of the MBA and at my company MBAs enter in as Senior Financial Analysts. Based on the feedback I am receiving here I think I will stay the course. Appreciate your feedback.
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