Need some perspective - do what you like or follow the herd for money?
Hi folks, I am second guessing a decision I made, so need some perspective to clear my head.
I am a part of the FT program at a BB in NY and am rotating through different desks. I did one rotation at the equities quant trading desk (prop) and they made me an offer to join in full time as they liked my work. But although it sounds glamorous, I didn't honestly enjoy thw work - it involved too much computer programing and quant stuff than I am comfortable with. My background is not in computer science or math and I also felt a bit out of place with the rest of the crowd which was stats PhD's and CS majors. I wrote the first computer program of my life at that desk, so that gives an indication of my programming background.
So I decided to forego that offer and take up sales/origination in prime brokerage. Before everyone piles on that this is just operations, I honestly think it's not just operations and I like the business and the role. It is also a high growth area for my BB. But I am second guessing my decision because of the 'glamour' aspect (ppl telling me trading is where it's at) and potential $$$ difference. I have joined as Associate and I think can make it to VP in 2 yrs in PB (not sure how that would have been at the quant desk given my background and competition).
I am worrying whether I made the right decision or if I should go back to the quant desk and see if they'll take me back. What would you do? Do what you think you'll like or chase the quant role for the money? And realistically, how much would the $$$ difference be between the two roles if I do well? Any perspectives would help.
thanks!
oh, and just for the record I am an MBA from a top 15 B-school and 30 yrs old. Worked in corporate sales for 4 years before MBA and switched to S&T for the money and challenge. Missed out this info to put my earlier question into context. My ideal desk would be derivative sales but competition is unbelievably fierce (even for those with a FT offer!) and there's no opening at those desks.
Do what you love, love what you do.
Value both alternatives and consider the glamour/$/projection/enjoyability benefits and aloofness/lack of qualification/$/team in A vs. B. What is key for you for the next years?
btw, who cares if PB its ops or not, as long as you feel you are enjoying and progressing. Get rid of these mental paradigms. Decide for what is in it for you, as a professional and as an individual.
Certainly there is a potential huge difference in $ tipping in favour of A, on the otherhand, you might find progressing withn PB and taking team leadership etc perhaps very rewarding. It's all relative.
Good luck and keep us posted!
Eh, Im not big on the love what you do, do what you love mantra. You're an American. Your life is already better than most of the rest of the world. You need to make this decision by fast forwarding through the next 15 years of your life and considering which position will bring you the most job security, the most money, the most control over your career.
PB is cool but your compensation and performance are really at the whim of other traders and the market at large. The quant job would look better on your resume in my opinion. So while neither may be your top choice, you should also consider which would be a better stepping stone to get you to where you want to be in 15 years. I think someone who trades can go work in PB, while the opposite isn't necessarily true as often.
Not telling you where to go, just giving you another perspective beyond the "follow your dreams" commencement speech advice.
Veryvalid points NYU. Sure, look for a job to cover your expenses and give you the opportunity to realise your dreams. If its about expensive cars, multiple domiciles, luxury etc, well, there you have your answer. Go, work hard and achieve them by taking the option that maximises the probability of cash generation. This is your driver and you are young.
However, while true that you need to fast forward and visualise, I would not totally abide to "the most job security, money and control". These are quite elusive, and today even more than ever. However, if this is your cornerstone goal, well, there you have your answer.
By pledging for "do what you love" I do mean a careeer with meaningful and rewarding occupation, that besides proper compensation gives you personal gratification. If you like trading, well there is your answer. You like selling, chances are you have the profile and are going to do great. Is it research? fine.
I have seen many successful MDs/partners that enjoy what they do and are very successful at it. I've also seen the flip-side, unhappy and empty talented people, also with a sizable bank account. Money has been in both groups often a driver at the beginning, but not anymore. Of course, you can argue "you can only say this, once you have achieved it"... sure, it is so.
Finding the underlying motivation is key. Going for the money, while a common theme among us monkeys, it's tricky. My advise is only: be true to yourself, do not get lost on the way, and check and balance at crossroads.
Take our views with a pinch of salt. NYU points to important considerations. Also, perspectives change over life and you are in an age where you can go and get the world, explore, work 100h/w and cover those needs. Just do it for a purpose worthwhile.
For the record, sacrifices, hard work and decisions based on economic grounds have been a companion and certainly are part of my experience leading to this view.
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