Monkey to Millions | Victor (Session 10) - The Big Promotion
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In this episode, we hear about how Victor is settling into life in Southern California, even though his car was stolen. Also, a quick surprise promotion as well. Listen to find out how.
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WSO Podcast (Episode 10) Transcript:
Patrick (CEO of WSO): [00:00:23] Hello and welcome. I'm Patrick KURTIS, Chief Monkey of Wall Street Oasis. And this is Monkey to Millions, a show where you get a front row seat as I mentor young students and professionals to try and help them break into their dream jobs. In the first cohort, you'll meet four students, all preparing for intense job interviews while trying to also balance a personal life and schoolwork. The goal of this show is to shine a light on the struggles of trying to break into competitive positions with a nontraditional background and to give you a roadmap for your own success. My hope is that as you get to know these four impressive students, you're inspired to dream big. Remember, these are real people and this is their true story. Let's get to it.
Patrick (CEO of WSO): [00:01:12] In this episode, we hear about how Victor is settling into life in Southern California. Even though his car was stolen. Also, a quick surprise promotion as well. Listen to find out how. All right, Victor. Welcome to Southern California. Not that I'm here, but tell me a little bit about. Yeah, what's the move? Everything. What's going on in terms of the job. And then we'll kind of go from there.
Victor: [00:01:36] Absolutely. So like, basically I got here and I hired as a financial representative, and then two weeks later they told me that they were promoting me or three weeks later, which is great. Now I'm a relationship manager and it's been great. I love Irvine. I love Southern California. You know, I love surfing, too. I have a story to share with your listeners. My car last Saturday got stolen in broad daylight and the parking lot. It turned out that there has been a rage going on against the old cars, which is what I had after, you know, the personal story. So it was Acura 1996. They just took it in broad daylight at the parking lot from a mall, like a local mall. I was there visiting a friend's. Yeah. Wow. Yeah.
Patrick (CEO of WSO): [00:02:25] Yeah. So that's that's sad. 1996 Acura.
Victor: [00:02:31] Yes, yes, yes. And it was a good it was a good car. It was running well. It was pretty good. And I also lived by Newport Beach and I work in Newport Beach office, so it's not that far. And I have a colleague who works here so has given me a ride back and forth. But yeah, for now I'm covered. But it's just hard.
Patrick (CEO of WSO): [00:02:48] To find a car. It is.
Victor: [00:02:49] Exactly. Yeah, exactly.
Patrick (CEO of WSO): [00:02:52] So tell me about just the so financial advisor. Tell me about the training or like the promotion. Like, why do you think they promoted you within so fast?
Victor: [00:03:00] I think again, this is just my best guess since I was fully licensed when I got there. I have everything now. I'm working on my insurance to make sure I get that other way. And the next step will be the CFP starting in November. I think I just basically threw myself at work. I try to learn as much as I can since I already had a phone experience talking to clients. I always try to calm clients down and I got a few. I would say the surveys and the clients left are really good. I would say like a comment that this guy went above and beyond. He helped us out. He's great, his professional, he took care of us. He made it sound so easy. And again, I was just trying to use my resources. Not that I have any of the knowledge. I don't know how to do it, how the stock transfer, none of that. But I had always a supporter out just making sure this is a sales role and it's a one on one with people. You've got to be able to read them and make sure that you don't write that way. Your job is to calm them down, making sure that they know they're going to be taken care of, I don't know. And then there was also opportunity opened up. And instead of, I think, hiring from outside, they just told me that, hey, why don't you just become the new relationship manager?
Patrick (CEO of WSO): [00:04:15] That's great, man. It's super exciting. That happened fast, huh?
Victor: [00:04:19] Yes, two weeks. I was like, Okay, let's do that to that.
Patrick (CEO of WSO): [00:04:24] Come up with a pay raise.
Victor: [00:04:25] Right? Yes. Oh, of course it does. And a pay raise that I saw when you did. And it's kind of making me a bit more comfortable living in the good.
Patrick (CEO of WSO): [00:04:34] Is it a big pay raise? Like 5000 a year? 10,000 a year.
Victor: [00:04:39] Around about 15
Patrick (CEO of WSO): [00:04:41] 15 It's amazing.
Patrick (CEO of WSO): [00:04:42] Yeah, it's.
Patrick (CEO of WSO): [00:04:43] A big difference.
Victor: [00:04:44] Yeah. Yeah. With the military and the reserve and all of that, I'll be pushing around like a hundred grand, something like that. Six figure, something like that.
Patrick (CEO of WSO): [00:04:54] Bit better than the three jobs. You had a couple, you.
Victor: [00:04:57] Know, a couple of years ago. Not exactly last year When? A year ago or a year ago. Yes, I had three jobs and I was making like a less than and again, I'm sorry, I don't mean to show this. The money's always everything, but it was just unfortunately, that.
Patrick (CEO of WSO): [00:05:14] Well, you were working like 70 hours a week to make less money.
Victor: [00:05:19] 40,000 less money. Is that. Yeah.
Patrick (CEO of WSO): [00:05:22] Which is insane for somebody with your background to be at. So I'm happy you got you got a good company and they're recognizing that you have skills and that's great, man. That's exciting. It'll be an interesting time. They're going to need a lot of people to a lot, a lot of people like you to calm everyone down during this potential this market downturns.
Victor: [00:05:40] Yes, exactly. I have had so many of that experiences. You've got to calm people down.
Patrick (CEO of WSO): [00:05:45] Have you have you been seeing a lot of that where people are calling in?
Victor: [00:05:49] Oh, yes, a lot. A lot that I had this much money. It's more like a nest egg. What I'm going to do, you guys want to live on the streets? Kind of. But you understand that this is people are very emotional, you know, relationship with their money. So it's totally understandable. I mean, I would probably do the same thing if I didn't know anything about stocks, other market works and all that.
Patrick (CEO of WSO): [00:06:10] Yeah. Yeah. Very cool, man. So what's the what's the goal? What's the thought process here? You're going to stick around? Not me. You just got.
Victor: [00:06:18] Yeah, absolutely. I want to actually stay here for a little longer than I thought I would, because first, upward mobility is awesome. Second, I really, really enjoy what I'm doing. And third, I know that it's not maybe a private equity kind of money you're making or maybe investment banking, but I work around at most 55 hours a day a week, not a day.
Patrick (CEO of WSO): [00:06:46] I did have a 41 hour day before. So be careful what you say.
Victor: [00:06:50] Yeah.
Patrick (CEO of WSO): [00:06:51] I worked two all nighters. Back to back.
Victor: [00:06:53] Yeah, 55 hours a week at most. At most. And that's that most usually right now it's around like 45. And this is 5560 when the businesses and taxes and starting October around November and ends around April, you know and then there goes up to like 60 hours, which is totally doable. And also I'm making as good a money I would have made if I were a consultant if that makes sense.
Patrick (CEO of WSO): [00:07:22] Now then what happens in the. So are you comfortable sharing a range of where your salary you said like 85 ish or something like that, Or 90 ish.
Victor: [00:07:30] Yeah. With everything. Everything within. Yeah.
Patrick (CEO of WSO): [00:07:34] So and so what's the after this promotion, what's the next stage And typically how long does that take Or you have to get your CFP, Does that help you kind of errors or no other stuff.
Victor: [00:07:45] Exactly. Right now I'm working on my life and health insurance. And before I jump on that, I want to let you know that probably next time I'm going to we're going to have the session. But we in October, I'm living in about two weeks. Yeah, but I'm going to be five and one half weeks of trip, not necessarily vacation, but I have to go take some personal time and make sure that my dad passed away. My grandma passed away. I need to settle some affairs. And it's a long travel overseas. Yeah, but I'm going. I'm going. I'm going to it's not going to be all sadness. I'm going to Poland, I'm going to Czech Republic, Sweden. So it's going to be a nice like a Yeah, exactly. And then I come back and hopefully by then I'll sit my exam for insurance. What, California insurance or get that done. It's not required, but it looks good. And then a month and a half after the next class starts in November for CFP while doing this job, I want to make sure that within a nine month program, I want to get that done as fast as possible. And the next step for me will be I would love to become an ICU, which is investment consultant, and that basically puts you that on the sales role. It's basically you got this base pay and the variable compensation, the better you do, the better more use.
Patrick (CEO of WSO): [00:09:00] Is that trying to bring in new people in under the under the umbrella of fidelity like with.
Victor: [00:09:05] Very we do very little of that. We have so many leads to follow so many. It's just you got to be able to be able to sell, make sure that you're running a base and working the phones. It's not You never do a cold call. Very little.
Patrick (CEO of WSO): [00:09:20] No. Yeah, there's internal leads. I get that. I'm saying. But to determine how well you do, it's getting people to move their money under the umbrella. Right. And you help them. You become their advisor in terms of how to allocate their capital and build their portfolio based on what they need and stuff like that.
Victor: [00:09:35] And if you do that, you push about 30 grand a year. If you do it well, yeah, great. Yeah.
Patrick (CEO of WSO): [00:09:42] And you can get to that role, what, another year or two, you.
Victor: [00:09:44] Think year and a half. I'm pushing for a year and a half. Yes. And then after that, eventually probably within three years to become an FC, which is a financial consultant there, you kind of slow it down a little bit, but I'll bring some from my if I become investment consultant, then you build a book of business and within about a year or two you're pushing the 200 grand and the more you do it. So it's just.
Patrick (CEO of WSO): [00:10:09] And then the more people you get under your your umbrella, the better.
Victor: [00:10:13] Yeah. So. It's awesome. And also, I love the love, the culture. It's super welcoming and I work with a bunch of the places you already know that I've yet to see that I have so many questions that are always helpful. They guide me through what I need to do, but you just got to love what you do. So I signed up a Wall Street Journal. I signed up Economist. I have so many magazines that I signed up. I'm reading them every day. Financial Times, too. That's pretty much pretty much my expenses. Like, it's like, okay, I won't go to restaurant today, but this is going to be it's like my Christmas gift to myself kind of thing. So, yeah, it is. It is great. And hopefully on the side. Thank you so much. I got to meet your I'm allowed to say I'm supposed to say I got your sister in law. She is amazing. And I met your father in law, older sister in law's. I saw the picture of a kid's amazing. Three beautiful kids.
Patrick (CEO of WSO): [00:11:09] Thank you. Thank you. Yeah, it's a good family. They're. They're so fun.
Victor: [00:11:13] Yeah. And I didn't know that your wife is as competitive as you. I think you want to work. And she had to want to. One of you. She went to Harvard. So I wonder how conversation during Thanksgiving go. You know, I went to Harvard. I'm just kidding.
Patrick (CEO of WSO): [00:11:28] You would never know it. She's not like that.
Victor: [00:11:31] So. Yeah, I know. I'm just joking. Just joking. But yeah, it's amazing. So I also do like on the side will state, but we already talk to her probably. Right after I get back around like October, start passing the exam maybe through the weekend. So everything is.
Patrick (CEO of WSO): [00:11:49] Great with the CFP, you're going to be working if you do all the.
Victor: [00:11:53] Extra stuff. I worked 80 plus hours last year, so you're used to it? Yeah, very much used to it, you know. I'm just slightly amused that I don't have a car. Sometimes I'm like, okay. And muse, actually, I'm not depressed but amused because everybody is like, Yeah, welcome to Southern California, buddy. This is what we do here. So apparently there is a like a whole thing going on with this old car. People are going for the like a 1990s Honda Civic. I didn't know and the cops told me that. Okay, so you guys are telling me what's most like it's in the chop shop so it'll yeah it's gone. And by the way if we find it you are basically liable to come and tow the car and just take it to them. You know that. What is the car, What is it, Grey. Whatever it is called, like, I don't know. The junkyard. Oh, the junkyard.
Patrick (CEO of WSO): [00:12:47] They make you do that?
Victor: [00:12:49] Yeah. And you pay for all of that? I'm like, Yeah, awesome. Yeah. So other than that, everything is great. Storefront is awesome. I love the area. The weather is beautiful. It's everything is great.
Patrick (CEO of WSO): [00:13:01] It's awesome. That's awesome. And how's the family back home?
Victor: [00:13:04] Oh, they're good. I'm going to go visit the boys every once in a while. I'm going to bring them. But right now, because of the travel, I just want to make sure the next two weeks I kind of at least get that basic understanding of my new role, what I'm supposed to do, not necessarily fly, but I already kind of bailed them in before I came here. I told them that this is I've been planning for most of the year now, so. You got that?
Patrick (CEO of WSO): [00:13:28] Well, it sounds like all is on the up and up. Everything's going in the right direction, which is awesome to hear. Enjoy your travels. Sounds like an amazing trip. And yeah, help out your family. Obviously back home to and of course.
Victor: [00:13:42] But again, before your listeners forget it's all happened because you kind of set me straight. I was just banging my head to maybe 200 different doors and you kind of fold in the back, like, whatever I'm doing to my clients, you that, Hey, you need to calm down first, so let's just think about this. So I'm never going to forget that I'm all.
Patrick (CEO of WSO): [00:14:00] Yeah, I mean, you had it all. There is just. I think any decent mentor could recognize that you had the capability, like, sharp guy. So it's just a question of orienting yourself. So I'm happy you were able to do that and get your feet under you after all the crap that happened to you, you know? So it's like, it's good to see it. It's good to see it, because I think I think you're on just for happiness sakes know, I think you're going to be a much happier person in the.
Victor: [00:14:27] Next years to come. I appreciate. Yes, of course. Of course. I appreciate that. Well, we can't do this. I'm going to October and I'll probably by the end of November ish, I'll have some kind of set schedule so that we don't have to always play around. I'm really sorry. So it's just.
Patrick (CEO of WSO): [00:14:44] I don't know. Don't worry. I know you're super busy. We'll. We'll figure it out. No rush. Enjoy the travels and we can call it. All right. Thanks, Victor. All right.
Patrick (CEO of WSO): [00:14:54] And thanks to you, my listeners at Wall Street Oasis. If you have any suggestions whatsoever, please don't hesitate to send them my way. Patrick at Wall Street Oasis. Com And till next time
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