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IS portfolio admin a good job?

Posted on 3/21/18 at 6:04 pm
Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 3/21/18 at 6:04 pm
I know portfolio management jobs are great and I’ve worked with portfolio management teams in the past but I’ve never heard of a portfolio admin. Recruiter called me up today about it.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 3/21/18 at 6:12 pm to
Better thsn being unemployed, I can just about guarantee you that.
Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 3/21/18 at 7:31 pm to
I’m going to be unemployed. That’s pretty much for certain. :(
I’ve applied for many safety and exact match positions in my field and haven’t gotten a damn thing.

I have a couple of applications under consideration right now by the big banks but if none of those get me a job, I’m completely fricked. Because working for a large financial
Institution is a sign of poor skills according to the recruiter

I’ve interviewed with a few consulting firms and that’s gone well, but the universal consensus is I’m too early in my career.

I’m teally really close to having to go back to school to get an mba which is stupid.
Got great fricking reviews that mean shite.

I hate ducking job searches.

I’m going mad

This post was edited on 3/21/18 at 7:46 pm
Posted by Louie T
htx
Member since Dec 2006
36300 posts
Posted on 3/21/18 at 7:47 pm to
quote:

Because working for a large financial
Institution is a sign of poor skills according to the recruiter

???

And why are you getting canned working for a large financial institution + getting good performance reviews?
This post was edited on 3/21/18 at 7:48 pm
Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 3/21/18 at 7:52 pm to
I’ve been told that by two recruiters in the past month.

“Firms attached to banks have lots of technology. Their employees get hand held and don’t need to do their own analysis anymore because they have technology does that for them.”
“Positions at those firms are not robust positions.”
Posted by southernelite
Dallas
Member since Sep 2009
53126 posts
Posted on 3/21/18 at 7:58 pm to
What do you do for said financial institution?

Just keep battling though. It may take a while, but all it takes is one company to believe in your potential. I went from being laid-off, unemployed six months, and my first year at my current job I got an 11% bonus. Couldn’t have asked for a better situation.


Take a minute to pity yourself, then dust yourself, and fricking get after it. You’ll get rejected so many times you lose count, but hang in there, it’ll come.
This post was edited on 3/21/18 at 8:00 pm
Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 3/21/18 at 8:10 pm to
Not exactly being canned. I’m a contractor/consultant and the firm has a hard rule that you can”t be with the firm more than 18 months.!. Been here for two years after executives escalation. .First real job out of college. Two positions with the firm. Working derivatives strategies. I know they want to keep me around but they won’t for two reasons.
1. Every full time member of the derivatives strategy team is 10-20 years of experience VP
2. They slashed the budget for our team so they may be letting even more people off soon.

I’m just kinda aimless now because everyone was telling me I was excelling in my latest role and now I can’t even get a fricking interview on a job search.

I’ve been meeting with managing director for career advice and their advice was to paraphrase “so what if you’re unemployed for awhile. Wait for the match of something in our obscure industry and your career goals.”
I can’t afford that.

I don’t mean to be a whiny bitch but man this sucks and I feel completely humiliated. I’ve been having coworkers come up to me for over a year telling me that I should be treated better and I guess I got played.

Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 3/21/18 at 8:16 pm to
Thanks. That’s good to hear. I agree. I’m confident in many of my abilities.

I’m in derivatives clearing/funding.
Posted by Louie T
htx
Member since Dec 2006
36300 posts
Posted on 3/21/18 at 8:23 pm to
Are most of your apps being placed in Atlanta? Garnering interest for jobs outside of your home market is much easier said than done; most would rather hire from a pool that is geographically convenient.

I was going to pass your resume to a coworker who was hiring for a derivatives data science analyst/associate spot, but I'm seeing the posting was taken down.

Job searches aren't fun. Many times you get weeded out for reasons that aren't you weren't the best candidate for the job.
This post was edited on 3/21/18 at 8:26 pm
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 3/21/18 at 8:24 pm to
I'm not trying to rub salt in the wound, but you probably need to reevaluate. The recruiters are telling you your firm doesn't produce good candidates. That means two thing. One, they really don't so you need to figure something out. There isn't much you can do to overcome that but show you can provide value. Two, they are blowing smoke up your arse and you aren't as strong a candidate as you think. Do things to enhance your resume. You should be able to learn a lot of stuff for free/minimum costs.

Ask friends in your industry the reputation of that firm or to look at your resume. My group isn't hiring but if I had a friend in your situation I wouldn't mind looking over your stuff or telling you what the preconceived opinion of where you are coming from is.
Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 3/21/18 at 9:42 pm to
Yeah, i don’t know if it’s a firm issue as our firm his pretty highly regarded in our field. I think it’s partially I’m hard to quantify due to non-tradjonal background and the sorts of jobs/recruiters I’m looking at.

I have great experience networking with senior management to decide major solutions. I also don’t have a finance degree or super developed hard skills. That’s just a fact and something I will have to deal with

A majority of similar positions seem to be hedge funds. There is a completely different mindset between a hedge fund and a global investment bank analysts. Hedge funds expect their workers to be jacks of all trades covering a multitude of different products. Global investment banks are a bit more specialized because a lot more is happening on the backend. A hedge fund analyst might cover 5 derivatives products from execution through clearance, a global investment banking analyst might cover 2 derivatives products in specialized areas because in general, volume is greater and processes are more involved.

That’s how I kinda see it at least.

I feel a little better now.
Posted by Louie T
htx
Member since Dec 2006
36300 posts
Posted on 3/21/18 at 10:03 pm to
Do you mind sharing who you're working for now? I can't imagine you're in Athens if you're mentioning working for a global investment bank.

You can work for as broad or as narrow of a hedge fund as you'd like. You definitely don't need some ridiculous breadth of experience.
This post was edited on 3/21/18 at 10:06 pm
Posted by deeprig9
Unincorporated Ozora, Georgia
Member since Sep 2012
63784 posts
Posted on 3/21/18 at 10:08 pm to
He’s not in Athens, and he’s only been out of school for about a year.
Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 3/21/18 at 10:53 pm to
I work for a top FCM In up north.
If you’re unfamiliar with fcms, it’s kinda like a broker dealer for futures only with completely different regulations and rules:
LINK . (Public report from the cftc about fcms)








This post was edited on 3/21/18 at 10:56 pm
Posted by athenslife101
Member since Feb 2013
18537 posts
Posted on 3/21/18 at 11:08 pm to
:) I’ve definitely been out of school for longer. Bout 4 years. I just almost died when I just got out of school due to illness and had a long fun recovery. If I seem jittery, it’s because I lost everything but the clothes on my back and ended up unable to walk in my parents basement for awhile in that process and had to work my way up through some awful stuff after that. It is what it is and I don’t regret it.

I’m 95% recovered now but there’s in intangible scarring fear that everything I’ve worked for can/will be taken from me again just as swiftly as last time and that gets me spinning in circles.

Again, I’ don’t want to seem like I’m whining.. Just venting I guess.
Posted by Louie T
htx
Member since Dec 2006
36300 posts
Posted on 3/21/18 at 11:52 pm to
Rough story - I hope things work out. I don’t agree with the recruiters’ sentiment that working for large FI is a poor reflection of one’s skills. The big banks make it a point of emphasis to pick people with broad backgrounds. My group has Carnegie MSCS, liberal arts grads, top MBA/MFin, engineers, etc. - I’m an accounting grad from a state school.

Continue looking at MM & BB banks. I’m pretty sure you’re the one who posted about learning SQL + VBA on the OT not long ago. The banks are always looking for people with good technical skills and solid finance foundations.

I’ll bump the thread if anything in my group opens. I’m not in a position to hire but can pass along your resume if there becomes a need.
This post was edited on 3/22/18 at 12:06 am
Posted by baldona
Florida
Member since Feb 2016
20376 posts
Posted on 3/22/18 at 8:02 am to
If you have a job opportunity I'd take it. Especially if it allows you to network for other possibilities. You are better off being under employed, networking, and busting your arse for a new company with an actual future than working a dead end job that you may be laid off in. Hell its better to have confidence if anything.

That doesn't mean you have to stop applying elsewhere either. Not everyone views it like this, but I'd much rather someone that hustles and supports themselves no matter what than someone that sits at home for 6 months waiting on the right opportunity. Especially when you are young.
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