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Alternatives to Investment Banking?

I figured out 100 hour a week maybe a bit too much overkill for me so what are alternative careers to Investment Banking?

Many thanks in advance, fellow TSRians.

Reply 1

misterb123

Depends on your skills and interests...
-Sales and trading - better hours but very early starts and not as many exit opportunities
-Management consultancy - better hours, alot of travelling and not as much $$$
-Private banking
-Private Wealth Management
-Risk
etc. This is all assuming you want to go into finance

If not pick something you have a genuine interest in, dont let anybody tell you what career to pick

Reply 2

od_bo

Original post by misterb123

Hi thanks for the advice. :smile:

I have a few questions:

- What do you mean by "not many exit opportunities" for Sales and Trading? Do you mean theres no opportunity to grow in these sectors and earn high?

- I have noticed some of the top banks/investment banks have something called "Investment banking Risk". Does that have similar working hours to IB or is it completely different?

- Do you know of any companies/banks which offer private banking/wealth management internships?

Reply 3

misterb123

Original post by od_bo

Hi thanks for the advice. :smile:

No Problem

Don't get me wrong, traders and sales people have an almost 'unlimited' earning potential, its just that in comparison to bankers they cant do the IBD>PE/VC>BS>PE/VC route... Whereas bankers can go into Hedge funds if they choice...

Can't talk too much about risk as I dont really know in detail myself what that entails...

A google search might help with finding internships in PB/PWM, but as far as i know: GS, MS, CS, UBS and Coutts should offer some sort of work...

For any other questions, a great source (and much more reliable) would be
http://www.mergersandinquisitions.com/

Farming?

Asset Management is an interesting possibility for the financially motivated, and hires are on the up (at least from my anecdotal experience at a BB's asset management division).

Reply 6

2late

Consider Risk/Finance at an Investment Bank? Generally middle office has better hours and after 2 years you should be on around 45-50k base.

Reply 7

QFin

Original post by 2late

Consider Risk/Finance at an Investment Bank? Generally middle office has better hours and after 2 years you should be on around 45-50k base.

45k is usually starting base for risk (grad level at BB)

Actuary

Original post by henryt

Asset Management is an interesting possibility for the financially motivated, and hires are on the up (at least from my anecdotal experience at a BB's asset management division).

Hi,

I know you've had experience working at JPMAM and that you now work at family office. How do you find the environment at where you work now? I'm guessing that there aren't many other graduates where you work, would you say that's the same for other AM firms?

Do you have any suggested readings for someone who is interested in Asset Management? Maybe books on different strategies and technical information?

I would've PMed you but I think you've disabled it.

Thanks.

(edited 11 years ago)

Reply 10

Summa Laude

Original post by KPCN

Keeping up with the financial times and economist I would have thought. I think the underlying principles of asset management are quite simple.

Try investopedia if you don't understand how mutual funds, hedge funds, stocks, forex, bonds, commodities etc. work as investments.

A good introductory stocks book is 'one up on wall street' by Peter Lynch.

(edited 11 years ago)

Reply 11

finance_economix

Original post by henryt

Asset Management is an interesting possibility for the financially motivated, and hires are on the up (at least from my anecdotal experience at a BB's asset management division).

Hey

I recently decided I want to go into asset management. I just finished my first year at manchester uni studying economics, have no experience in finance, no internships, however i am joining the trading and investment society when i go back and also i am taking/have taken modules in finance.

How can I break into asset management? Your advice would be greatly appreciated.

Reply 12

henryt

KPCN

finance_economix

KPCN - feel free to PM me now! I think my inbox was full... I think if you can get your hands on some CFA Level I materials, they're a pretty good basis from which to work from. Otherwise, the internet, and actually doing asset management (even if with virtual stocks) is pretty informative in itself. I'm sure most people have been on Investopedia at least once to look up some sort of concept when starting out their research.

finance_economix - as with all jobs, it really helps if A) you are prepared from a knowledge standpoint (sounds like you have a headstart, but maybe look at some of the CFA materials and see what you find interesting), and B) you have a point of contact at the firms you are applying to - networking at careers events can help your CV get pushed through to interview, or even push you through to getting an internship.