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EY Deloitte PwC people - would you leave your current employer for a 15%-25% total comp difference? This translates to a 25-45k difference per annum, largely driven by bonus at the new firm (20-40%), much smaller than my current employer. Doesn’t feel like a great exit opportunity - currently at big 4 this would be moving to a niche consulting company
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How much discretionary cash do you keep around?
Anyone know what other fishbowls are like?
Happy Monday! Heads be rollin today 🙃
Was anyone else here at Coachella this weekend?
Realization: I'm good at my job because I'm single
Any one familiar with comp for a Portfolio Associate roll at PIMCO on their mortgage backed securities team? I’m looking at an offer and want make sure I’m in line with the average comp for the company and industry. Only 4 months of experience and offer is 98k w/ 10-20% bonus plus 15k relo/ sign on. Looking at Glassdoor, bonuses seem higher than quoted by the hiring manager. (No written offer yet they say they’re still working on it)
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Yes, it's possible to get hired in finance with just an associate's degree, although it might depend on the specific role and company. Many entry-level positions in finance require a bachelor's degree, but firms also value relevant experience, certifications, and skills over a bachelor’s degree. Networking helps too.
Agreed. I think networking helps get you the job, once other areas are covered.
If you want a lucrative finance position that pays very high salaries with big bonuses you will need at least an bachelors degree especially at elite finance companies. I am a 30 year old ivy-league educated MD at Goldman Sachs. I have a AB in Economics with summa cum laude honors, MBA with summa cum laude honors, and JD with summa cum laude honors from Harvard University. I have my series 7, series 66, series 79, CFA, and FRM. I am a minority (African-American and Moroccan male). I make between 3 to 5 million a year because of my rainmaking potential. I will get paid way more as a partner managing director with lucrative financial benefits that are available to only partners at Goldman Sachs. One partner in the trading division at Goldman Sachs made 100 million in one year trading oil and gas stocks. If you want a lucrative high paying position like that you will need a bachelors degree in a quantitative field. Also someone on here said you will be competing with the MBA's at finance companies which is true. But when it comes to world class elite finance companies you will be competing with ivy-league individuals that have the same educational and professional background as me. But unlike most people on here I really do not have to count on a job. I come from a very wealthy African-American and Moroccan family in Atherton, California and I have a percentage of that wealth. I decided to work by choice and my other family members are successful entrepreneurs and have a percentage of the family wealth as well from decades of lucrative investments in the finance, biotechnology, technology, oil, etc industries.
I don't believe Harvard MBA had summa cum laude at all. They had Baker scholar for high distinction, and then distinction. SIA1 claimed he graduated Harvard MBA with summa cum laude that literally didn't exist. Would love to see a diploma from Harvard MBA with summa cum laude. LOL
Yeah as a bank teller
King.
Fidelity Investments. You will probably start at about 55k a year your first year . Your second year you can hit 80k with a little hard work
All who you know
Define ‘finance’
Your network is your net worth.
I got hired with no degree at the time, joined a program which helped me land a job. I was actively pursuing a degree and was about 9 months out from getting my BA in Econ when I got hired at JP and finished my degree while working
Man people In The financial industry are more pretentious than I thought.
Many humans (even financial professionals) have some self awareness - at least enough to know that bragging like a third grade child is repellent to others. And then there’s SIA1 😀
Yes, but you'll probably have to do a lot of grunt work=taking calls till you get your liscenses.
Sure. You can get an entry level role but, from what I’ve observed, may be limited when trying to move up.
Possible? Yes. Likely? No. The way the job market is right now, you’ll be competing with MBA’s.
Don’t listen to anyone here. You can get an entry level role no problem. From there it’s depending on your skill and hard work. Most people have degrees but that doesn’t stop the ones that don’t. Source: not even an associates here and I have been very successful in finance
There are plenty of variables such as relevant experience, what your associates is in, and what path you’re looking to take. However it’s not too difficult unless you’re looking to walk in the door and snag a lucrative advisory/ planning position. Not sure your location but for instance Fidelity has multiple roles where the purpose is to bring someone in the door with zero experience, pay them to get licensed, and find a career path for them, you can look at “SIE Scholar” or “CRA - Career Development Experience”. If you have experience in Sales, Marketing, Management, high level customer service, you may be able get a shot at something a little less "entry level" or at least an accelerated track. Bottom line, if you absolutely can’t even get an entry level role (which I highly doubt you wouldn’t be able to) go somewhere and get licensed, even if you have to slum it and get your SIE, Series 6/63 with PHP or Primerica then come back to a big firm.
Depends on what you're doing.
Unless you just want to remain entry level with no prospects of upward growth
Also if you live in California or New York then that is where you will find the most fierce competition. New York being number one since it is the world capital of headquarters for almost every company you can think of and California being second. You will find most ivy-league individuals in New York. There are many people who are not ivy-league that made it to the top at elite companies, but the problem is that you have to work harder and prove yourself more than the ivy-league individuals. One example would be the CEO of Goldman Sachs and other C-Level executives, remember if you do meet many individuals who are not ivy-league at top elite companies that they still have a high preference for those individuals.
Yes, they tend to be attracted to others who are braggarts.
It all depends on where you live. I believe if you live in Massachusetts or NYC, it would be very difficult to find a finance role without a minimum of a bachelor's degree. In my experience, many who live in either one of these locations graduated from some of the best colleges in the country.
Yes in an entry-level job but you should keep pursuing your education. You need a college degree to get a CFP designation so perhaps a financial planning undergraduate program where you can get the CFP as well would be a good pursuit.