The vast majority of all finance jobs at investment banks are called operations, this includes accounting, settlements, compliance, support, etc...a very small percent is front office sales, and then there is what every single starry-eyed-naive-finance-senior in college aspires to be – an I-banker (rolls eyes).
I would be interested in statistics if you have them.
Simply put, non-operations jobs in I-banking, private equity and hedge funds are to college kids as what basketball players are to inner city kids. There are just better options.
As with basketball players, it depends on the skills of the individual. I know people who have had no trouble getting a high paying job at a hedge fund.
I know people who have had no trouble getting a high paying job at a hedge fund.
Agreed. I never meant to imply that there aren’t any high expected value finance jobs, I was really trying to just pick on the job titles of Investment banker or Trader and the excessive use of these examples when talking about finance jobs. Like you said the finance sector is huge with a number of defined categories, but under the compensation examples, investment banker and trader was used. I am confident that these two positions comprise less than 1% of all finance jobs.
I won’t just complain about it though, I’ll offer what I think are the real high paying finance jobs that actually do exist in sufficient quantities.
For Math majors; hedge fund quantitative analyst,
Comp sci majors; financial systems architecture and development
Thanks for your comment.
I would be interested in statistics if you have them.
As with basketball players, it depends on the skills of the individual. I know people who have had no trouble getting a high paying job at a hedge fund.
Agreed. I never meant to imply that there aren’t any high expected value finance jobs, I was really trying to just pick on the job titles of Investment banker or Trader and the excessive use of these examples when talking about finance jobs. Like you said the finance sector is huge with a number of defined categories, but under the compensation examples, investment banker and trader was used. I am confident that these two positions comprise less than 1% of all finance jobs.
I won’t just complain about it though, I’ll offer what I think are the real high paying finance jobs that actually do exist in sufficient quantities.
For Math majors; hedge fund quantitative analyst,
Comp sci majors; financial systems architecture and development
Marketing/finance talents; financial sales/ sales engineer (sales force)/ wealth management/CFP/ commercial loan officer,
Management skills like MBAs; financial consulting firms/ Project management / CPA/CFA/PPO consulting.