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Comments (28)

Feb 22, 2020 - 1:07pm

Wealth management or asset management are pretty safe compared to some of the other fields. One thing to remember though is that compared to some other career fields, finance was never very stable, and is becoming less stable due to changes in technology, as well as other changes that are coming along. Just something to keep in mind.

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Feb 22, 2020 - 7:13pm

you should learn more. It is a lot of sales when trying to win more business for yourself, but there is a lot of analysis, research, and trading (if you are running your own shop) and planning. This isn't for everyone, but it can be relatively safe compared to the other fields.

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Feb 22, 2020 - 7:12pm

idk who told you that. It's half the pay with the same stress and hours, as well as the fact that it's not any safer than any other career in finance

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Feb 22, 2020 - 7:24pm

OP - this is a cyclical business. Because of that, the hours, the nature of the work (grinding, boring, having to deal with annoying clients/bosses, brutal politics, market downturns etc etc etc) all means that few, if any decently paying jobs (ie. $500K) are actually stable. There are some niches that are and those very high sharpe ratio seats are very tough to get because people don't leave them unless they take another high profile job or their boss/patron leaves/gets canned. And if you get that job and only work 40 hours a week, power to you. But guess what.. When your patron is gone, your head is on the chopping block as the new regime gets in. And you were in a niche seat so...

That is why this industry, in general, pays the way it does (ie. very well compared to the average joe).

If you find that unicorn, let me know... And don't tell anyone else :)

Good Luck

I used to do Asia-Pacific PE (kind of like FoF). Now I do something else but happy to try and answer questions on that stuff.
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Feb 22, 2020 - 7:33pm

You don't make 500k a year wondering if you are gonna be safe you make it by being a killer. Just a path and excel in it make it to the top and be so good they don't want to fire you and if you do get fired. Then you have enough money saved and know it so well you can go somewhere else or start your own business.

Dec 19, 2020 - 2:55pm

+1 banana

Very, very well said. I don't care what industry you're in, you're really not going to reach the 6-figures unless you work your butt off! The worst posts I read on WSO are always about "exit opps". LOL. How about you just get up every day and work as hard as you can instead? Work so hard that you don't need exit opps. You do that and the money will also follow. 

Feb 22, 2020 - 9:46pm

There aren't many people making 500k in this world without taking on individual performance risk. Whether that's sales performance (most of finance), investment performance, or some other risk, there's almost nobody making that much who won't be fired the day they stop making their boss money.

Docs are the only example I know of, and it's because their cartel known as the AMA limits the supply of docs.

Corporate is your best bet for a stable climb but you said "high finance" so may not count.

Feb 23, 2020 - 10:45am

Possibly commercial banking although probably won't hit the 500k mark until you make MD or SVP if you're on the sales side all in. But pretty steady career and you often get recruited by other banks with handsome raises

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