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re: Making big money in finance?
Posted on 5/24/19 at 10:36 am to barry
Posted on 5/24/19 at 10:36 am to barry
quote:
First off your financial modeling skills need to be impeccable, your law degree may come in handy after you move to PE but if you start in IB then you will be an excel jockey, nothing else. If they aren't great i suggest taking classes through WSO (wall street oasis) or other avenues. In general go to the website and spend a bunch of time on the forums reading. Secondly you need to be in a top 10 major metropolitan area that has a big finance industry. NYC,Boston, SF would be your best options as far as volume of finance work with other large cities such as LA, Dallas, Houston etc. having regional specialties. Thirdly you need to frame your resume in the best way possible, hopefully your law experience is somewhat related to corporate law or transactions. Your retail banking experience is pretty useless and will even get eye rolls as they tend to look down pretty hard on retail banking. I'll be honest, you missed your big chance to cross over in grad school. You will need to network like crazy and should focus on some boutique firms that are more willing to look at non traditional candidates. Lastly, you need to understand WHY you want to work in finance. I'll be honest, the fact that you have a law degree, an MBA and now want to work in finance seems like you just keep going after all the things that sound like "cool" jobs and pay well in a vacuum. IB hours suck arse(your current work situation, even doing law stuff on the side is a cake walk compared to some of the sweat shops out there), you will have no life pretty much until you are a VP or a partner, even then its brutal. Also after VP its a sales job. PE is a pay bump and less hours but its competitive as frick. They are only so many spots available for promotion and you have to hope someone leaves or the fund expands to get promoted and thats if you are good enough to get promoted. Then once you are promoted you are tied to the fund for 5 years or so because of your carry and you better hope the fund is successful.
This is the most on point advice you’re going to receive.
This post was edited on 5/24/19 at 10:38 am
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