FInance is tough because it requires long hours all the way to the top (until you become a senior advisor, member of some Boards, or similar). Even the IB MDs / PE partners I know are pulling rough hours well into their 40s / sometimes 50s.
Working with a HC services company has me incredibly jealous. The doctors / surgeons can go part-time and work 2.5 days a week for $300k instead of full-time for $600k (as an example). This simply isn't possible in top-tier finance. This got me seriously interested in med school, but that's probably unrealistic.
I'm confident in my intelligence and have been successful in my finance career, but would be really interested in roles where compensation is scalable up-or-down with productivity. Do these exist outside medicine, or should I continue to just try to take as much time between jobs as possible?
Thank you for reading.
Shameless bump. Looking for specific industries / job titles, if possible
Tech is very much like this. As you accumulate knowledge in a specific field you become almost exponentially more efficient, and most coders know this. Once you know how to do the down and dirty work, you begin to understand the system, then you take on an advisory role. The really good coders will accomplish in three hours what a newbie would take a week to do, and it will still be better. Most management knows this, so they'd rather hire a seasoned pro to work part time than pay for a team of full-time newbies.
Remote offerings in tech also sounds amazing - I'm looking into the bootcamps though I've also heard that they are a pass
Skip the bootcamps, most (if not all) are complete bullshit.
If you're learning some coding languages, your resources will be YouTube, Udemy, Coursera, and libgen.io (for downloading books). Go to reddit/quora or any other tech forum to get the right resources.
My recommendation is to spend a week or so learning the basics of Python - this should be your first language. Build a couple unique projects.
Afterwards, start focusing on Java - this is probably the most prevalant language in the industry (I remember reading 56% of code written in top companies is in Java). Spend a lot of time working on some projects to solve/automate problems in your daily life.
Maybe pursue a masters in CS? it's unlikely you'll get an offer from a top company with an AB Switching to the tech industry is so easy nowadays - pay is on par with, or even better than the finance jobs most people on this forum get. My cousin is graduating from a pretty mediocre state school, just got a return offer from a FAANG - 108k base, 70k stock over four years, 50k signing bonus the first year, 34k the second ...
and everyone thought he was going to be a failure upon graduation based on the school he went to
Dentistry sounds like this.
Know what's cooler that scaleable income? Passive income. Hustle, save, and invest homie
Agreed, I have a lot of posts on this :)
Don't know if this is at all applicable any longer, but when I was in engineering school back in the day, I tended bar and worked as an events coordinator for a catering company. Over 25 years ago I was making $15/hr. + tips (when I tended bar).
Probably far too low-brow for this crowd, but money is money and this old bird was never too proud, which is one reason I am where I am now!
I am so looking to do this myself but bartending gigs seem impossible to get these days!
Ever heard of rest and vest? I'd check out some little known companies like Facebook or Google
So if I understand well, you would consider switching to medicine just because you can work part-time and make a lot of money? If you just want more money, then please, do not switch to medicine. That is not what society needs.
Youtube influencers that make sponsored videos make around $1000-2000 per 10,000 views.
Golf course caddy. Used to walk away after 4 hours with $250+
Not trying to high Jack the thread but what doctors do you know that are only working a few days a week? All the ones I know are grinding it out well into their 50s and 60s. I do know an ER doctor that works one week on, one week off (7pm - 7 am Mon- Sun). He is in a special field though. The only professionals in the field I know of that work like you stated are PA’s and dentists. Probably orthodontists too.
my dad's a doc and he has friends who do this but they're in their 70s lol
Python seems to be in demand now, and it is billed as a more "plain-coding language" to learn (not that I am an expert). I have seen several job postings where if they want e.g. a equity research background plus programming almost all required Python (this was a few months ago, but you could try to do some related searches on Linkedin). Maybe the finance + python expertise (with a sector niche) could lead to some contractor/part time assignment work?
Python will be more prevalent in industries that use a decent amount of mathematics, but not to the point where they would need to know R.
Python when used with NumPy, Pandas, and SQL is basically all you need to know for work in finance.
Pretty sure the people at Rentech would use something similar to Python and R. But they probably created their own in-house programming language.
Thanks NB574 for the comment about Python--appreciated. Very informative -- especially with regard to the supplemental items that work with Python (NumPy etc.).
Agree. I self-studied all the above packages/libraries plus others like Seaborn and matplotlib. Those job postings are probably looking for some data cleaning & data analysis capabilities from candidates.
Do the banks ever hire part time people to help with all the DCF/M&A/LBO models? I heard a long time ago they were farming out some of the deck work (e.g. Powerpoint) but with people working long hours what about the models? Thanks
No, this is the last thing they'd want farmed out because of complexity and only one person really owning the model. Even the powerpoint help is people in India doing largely graphics work
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