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Seriously! Is There Such Thing As a 'Rewarding' Job in Finance? Watch

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    Ever since high school, business-related subjects have been the only subjects I've been truly interested in .. economics to be specific, which is what I'm currently studying at university now

    My main aim was to try and get into investment banking after I graduate but after realising the stupidity of working 15+ hours daily at a stressful job just to earn about £100 a week higher than the average graduate salary, I've decided that it's not the career path for me.

    Plus the fact that a few people I've spoken to who were a few years above me in high school that now work in banks find their jobs extremely stressful .. but they seem to be stuck in the mind-state of hoping to get promoted to even more stressful roles so that they can be earning x amount by the time they're 40 (Carrot at the end of the stick)

    Whenever I'm sitting in a lectures I always notice how passionate some lecturers are about the topic they're teaching. A lot of them get excited when students ask questions in class and go into full detail to try and answer the question as best as possible and even stay after the lesson is over to discuss with whoever is interested .. which means a lot of lecturers obviously find their jobs rewarding and it's what they love to do.

    Finance is a whole different game though. Honestly speaking most jobs in finance are either boring(accounting) or stressful/repetitive(sales&trading). And since most jobs in finance generally pay around the same (give or take a few grand) it only makes sense to choose to do what you genuinely love. (Basically what the career advisor told us in high school but most of us chose to ignore)

    I've surprisingly started to gravitate more towards a career as an economist( which I could never have picture myself doing a few months ago).
    But out of curiosity what are people's opinions on this topic? And what jobs in finance would you class as rewarding?
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    (Original post by CoolStoryBroo)
    Ever since high school, business-related subjects have been the only subjects I've been truly interested in .. economics to be specific, which is what I'm currently studying at university now

    My main aim was to try and get into investment banking after I graduate but after realising the stupidity of working 15+ hours daily at a stressful job just to earn about £100 a week higher than the average graduate salary, I've decided that it's not the career path for me.

    Plus the fact that a few people I've spoken to who were a few years above me in high school that now work in banks find their jobs extremely stressful .. but they seem to be stuck in the mind-state of hoping to get promoted to even more stressful roles so that they can be earning x amount by the time they're 40 (Carrot at the end of the stick)

    Whenever I'm sitting in a lectures I always notice how passionate some lecturers are about the topic they're teaching. A lot of them get excited when students ask questions in class and go into full detail to try and answer the question as best as possible and even stay after the lesson is over to discuss with whoever is interested .. which means a lot of lecturers obviously find their jobs rewarding and it's what they love to do.

    Finance is a whole different game though. Honestly speaking most jobs in finance are either boring(accounting) or stressful/repetitive(sales&trading). And since most jobs in finance generally pay around the same (give or take a few grand) it only makes sense to choose to do what you genuinely love. (Basically what the career advisor told us in high school but most of us chose to ignore)

    I've surprisingly started to gravitate more towards a career as an economist( which I could never have picture myself doing a few months ago).
    But out of curiosity what are people's opinions on this topic? And what jobs in finance would you class as rewarding?
    I would say no job is 100% rewarding, different people seek different things.

    Some people like having very stressful jobs, they get a kick out of it. And while some parts of certain jobs maybe very dull, others do have good parts (learning curve, closing a deal, client interaction, growing a company etc.)

    Anyway, it sounds like to me someone like you who likes economics, is ambitious but doesn't want to kill themselves should be going for jobs at somewhere like the Bank of England. Seems like you'd find that most rewarding.

    Bear in mind that £100 a week higher than other graduate salaries rapidly shoots up much higher than that within a few years.

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    (Original post by CoolStoryBroo)
    Ever since high school, business-related subjects have been the only subjects I've been truly interested in .. economics to be specific, which is what I'm currently studying at university now

    My main aim was to try and get into investment banking after I graduate but after realising the stupidity of working 15+ hours daily at a stressful job just to earn about £100 a week higher than the average graduate salary, I've decided that it's not the career path for me.

    Plus the fact that a few people I've spoken to who were a few years above me in high school that now work in banks find their jobs extremely stressful .. but they seem to be stuck in the mind-state of hoping to get promoted to even more stressful roles so that they can be earning x amount by the time they're 40 (Carrot at the end of the stick)

    Whenever I'm sitting in a lectures I always notice how passionate some lecturers are about the topic they're teaching. A lot of them get excited when students ask questions in class and go into full detail to try and answer the question as best as possible and even stay after the lesson is over to discuss with whoever is interested .. which means a lot of lecturers obviously find their jobs rewarding and it's what they love to do.

    Finance is a whole different game though. Honestly speaking most jobs in finance are either boring(accounting) or stressful/repetitive(sales&trading). And since most jobs in finance generally pay around the same (give or take a few grand) it only makes sense to choose to do what you genuinely love. (Basically what the career advisor told us in high school but most of us chose to ignore)

    I've surprisingly started to gravitate more towards a career as an economist( which I could never have picture myself doing a few months ago).
    But out of curiosity what are people's opinions on this topic? And what jobs in finance would you class as rewarding?
    I think you've answered your own question. A rewarding job is a job which is exciting to you personally, so this can be anything from what you mentioned. Passion for the field should be a necessity, otherwise some roles can be living hell. Nonetheless, you can bet that even though many people from IBD complain about the hours, they still have humongous satisfaction from the job - it may be due to different reasons though (FT-headline type work when you think about the grand scheme of things, bragging rights of having 'made it' or working insane hours etc. - different strokes for different folks).

    When it comes to compensation, you're thinking way too short term and it's hardly a carrot on a stick situation, if you're good and you start in your early 20s, in your mid 20s you will be making more than just £100 per week above the average graduate salary at that age.

    In addition, no job will be rewarding right from the start, you will still do quite a bit of menial work regardless which field you go to until you learn the ropes whilst on the job. Whilst your mentioned downside of stress is what makes the field exciting for others.
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    I'm going to be somewhat provocative here, but I completely disagree with the OP and have so far in my career worked to do the complete opposite.

    The OP's premise is that it's important in life to do what you love. This is taken to mean that you should decide what you love first, and then try to find the career that most closely overlaps with the things you love. For example, if you love animals - go work for an animal charity. I think the issue here is that it assumes (a) all that makes a person happy is their career, (b) that it's not possible to DERIVE joy from a career which you initially started doing for other reasons and (c) that the opportunity to do what you love passes after a given time. The risk of this approach is that you could end up at 40 doing a job that you enjoy but without the flexibility to control the other things that make you happy (or which risk making you unhappy). Let's say you now work for that animal charity, but then interest rates jump 400bps meaning your mortgage is now unaffordable, your car breaks down and your kids can't afford to go to the university they want. None of these things necessarily stop you being happy, but are problems which are harder to solve given the flexibility you have in your current career.

    Instead, why not identify the life you want in the future (which may or may not be living in a conservative and frugal way, incidentally), identify the risks which could stop you achieving that life, and then try and mitigate those risks in the order of greatest risk first. For someone who wants to live without a mortgage, for example, the biggest risk to that is the inability to pay off the mortgage, which can be solved by having a career which provide lots of free cash, but matched to a conservative lifestyle that doesn't burn a lot of cash. This is a live to work / work to live distinction - the job is a means to achieving broader life goals.

    The ultimate extension of this is to, once you've found a job that meets those criteria you set out, is to try and work out which parts you enjoy and try and maximise how much of your job involves doing that. I take the example of banking / PE because it's what I know: it's a unique profession which allows you, once you've got into the system initially, to move about, switch roles or change companies to allow you to enjoy the job that's bringing you the lifestyle you want.

    This is not a "how to change your life" seminar, but all I know is that I tried it the second way round, enjoy my job today and have a lifestyle that's let me do the things that I enjoy (and even donate money to animal shelters if I so wish...)

    Bb^
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    Yay, another one of these threads.
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    For me personally this is why im leaning to consultancy. I want to make good money but not work 20 hour days. I feel in IB your getting payed bit extra for the workload/stress/boring(imo) work and lack of personal life

    While consultancy isnt much better in these, i feel advisory especially within the Big 4 or the big strat houses offers a bit more balance, and the work for me personally seems really enjoyable and varied and interesting

    also though I could be completely wrong having yet to be working. Im sure theres people in IB love what they do, and vice versa. Think a lot of it comes out to which path yoiu want to go in life

    A big IB name etc however does open a ridiculous amount of doors. Can do anything you want and make ridiculous money after first few years of the 'struggle'
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    (Original post by CoolStoryBroo)
    Ever since high school, business-related subjects have been the only subjects I've been truly interested in .. economics to be specific, which is what I'm currently studying at university now

    My main aim was to try and get into investment banking after I graduate but after realising the stupidity of working 15+ hours daily at a stressful job just to earn about £100 a week higher than the average graduate salary, I've decided that it's not the career path for me.

    Plus the fact that a few people I've spoken to who were a few years above me in high school that now work in banks find their jobs extremely stressful .. but they seem to be stuck in the mind-state of hoping to get promoted to even more stressful roles so that they can be earning x amount by the time they're 40 (Carrot at the end of the stick)

    Whenever I'm sitting in a lectures I always notice how passionate some lecturers are about the topic they're teaching. A lot of them get excited when students ask questions in class and go into full detail to try and answer the question as best as possible and even stay after the lesson is over to discuss with whoever is interested .. which means a lot of lecturers obviously find their jobs rewarding and it's what they love to do.

    Finance is a whole different game though. Honestly speaking most jobs in finance are either boring(accounting) or stressful/repetitive(sales&trading). And since most jobs in finance generally pay around the same (give or take a few grand) it only makes sense to choose to do what you genuinely love. (Basically what the career advisor told us in high school but most of us chose to ignore)

    I've surprisingly started to gravitate more towards a career as an economist( which I could never have picture myself doing a few months ago).
    But out of curiosity what are people's opinions on this topic? And what jobs in finance would you class as rewarding?

    u wot m8? Average grad salary in London is like 26k, which is £500/week.

    Average grad starting basic salary in Front Office at investment banks is 45+5k, which is £962/week, and if you pro-rate the year-end bonus that goes up to around £1,050 - £1,250/week
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    Guaranteed if OP actually had an FO offer he wouldn't hesitate to take it.....this sounds like a 'I couldn't do it so I'm gonna vent about how I'm better off' thread....(here's the part he tells me he does have an offer regardless of if he actually does). I could be wrong, I just doubt I am
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    Very few people outside of self employment ever earn more than 40k a year, a career in private sector finance guarantees you will earn 40k before the age of 30.
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    (Original post by James222)
    Very few people outside of self employment ever earn more than 40k a year, a career in private sector finance guarantees you will earn 40k before the age of 30.
    Except tube drivers - you can expect to make up to 52k after qualifying with experience :eek:

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    CoolStoryBroo
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    (Original post by CoolStoryBroo)
    Ever since high school, business-related subjects have been the only subjects I've been truly interested in .. economics to be specific, which is what I'm currently studying at university now

    My main aim was to try and get into investment banking after I graduate but after realising the stupidity of working 15+ hours daily at a stressful job just to earn about £100 a week higher than the average graduate salary, I've decided that it's not the career path for me.

    Plus the fact that a few people I've spoken to who were a few years above me in high school that now work in banks find their jobs extremely stressful .. but they seem to be stuck in the mind-state of hoping to get promoted to even more stressful roles so that they can be earning x amount by the time they're 40 (Carrot at the end of the stick)

    Whenever I'm sitting in a lectures I always notice how passionate some lecturers are about the topic they're teaching. A lot of them get excited when students ask questions in class and go into full detail to try and answer the question as best as possible and even stay after the lesson is over to discuss with whoever is interested .. which means a lot of lecturers obviously find their jobs rewarding and it's what they love to do.

    Finance is a whole different game though. Honestly speaking most jobs in finance are either boring(accounting) or stressful/repetitive(sales&trading). And since most jobs in finance generally pay around the same (give or take a few grand) it only makes sense to choose to do what you genuinely love. (Basically what the career advisor told us in high school but most of us chose to ignore)

    I've surprisingly started to gravitate more towards a career as an economist( which I could never have picture myself doing a few months ago).
    But out of curiosity what are people's opinions on this topic? And what jobs in finance would you class as rewarding?
    Yes, the hours are long. That's pretty much the first thing everyone reads when reading about IB. It's not 15+ hours of constant work though, there is downtime during the day. And there are slow weeks where you might only have 10-12 hours a day. It's the unpredictability of the hours that is more of an issue

    Average graduate salary is 27k in London. Average BB IBD pay is 45k + 6k sign on + bonus. bonus was average £22k last year - that's 73k. Almost 3x the average grad salary and more than most people in the country. This increases rapidly throughout your career.

    The carrot at the end of the stick argument only applies after associate level. The first 6 years in IB are pretty straightforward, you do 3 years analyst, 3 years associate then become VP. Granted most analysts don't get promoted to associate - but a lot of them leave before that happens. After VP you can be left hanging on for the MD promotion.
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    (Original post by CoolStoryBroo)
    Ever since high school, business-related subjects have been the only subjects I've been truly interested in .. economics to be specific, which is what I'm currently studying at university now

    My main aim was to try and get into investment banking after I graduate but after realising the stupidity of working 15+ hours daily at a stressful job just to earn about £100 a week higher than the average graduate salary, I've decided that it's not the career path for me.

    Plus the fact that a few people I've spoken to who were a few years above me in high school that now work in banks find their jobs extremely stressful .. but they seem to be stuck in the mind-state of hoping to get promoted to even more stressful roles so that they can be earning x amount by the time they're 40 (Carrot at the end of the stick)

    Whenever I'm sitting in a lectures I always notice how passionate some lecturers are about the topic they're teaching. A lot of them get excited when students ask questions in class and go into full detail to try and answer the question as best as possible and even stay after the lesson is over to discuss with whoever is interested .. which means a lot of lecturers obviously find their jobs rewarding and it's what they love to do.

    Finance is a whole different game though. Honestly speaking most jobs in finance are either boring(accounting) or stressful/repetitive(sales&trading). And since most jobs in finance generally pay around the same (give or take a few grand) it only makes sense to choose to do what you genuinely love. (Basically what the career advisor told us in high school but most of us chose to ignore)

    I've surprisingly started to gravitate more towards a career as an economist( which I could never have picture myself doing a few months ago).
    But out of curiosity what are people's opinions on this topic? And what jobs in finance would you class as rewarding?
    Stop thinking and end your problems.
 
 
 
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