Career choices, 22 and looking for opinions

[Jonzny]

22 Years old with an Undergrad in Accounting from a no name school. Planning on pursuing my MBA in Finance from a B-List school, currently employed full time in the Financial industry.

Ideally I want to work on the front end, either as an Analyst or a Manager for an investment firm or fund. To do that, I figure I'd have to take on $60k in grad school loans and absolutely kill it in school in terms of grades.

The issue, and why I am here for advice is that I have an opportunity to join the NYSP this year, and bump my salary $35k by next year and earn $95k within two to three years. Eventually topping out somewhere in the mid $100k's by my mid thirties. Along with that income I will also end up with roughly a $60k annual pension without having to contribute a dime and can retire by my mid 40's. That's a bit over $2MM assuming I live till 80.

Problem is I love finance, always have and would truly like to work in this industry. Not to mention I would not be tied down to a state I frankly no longer care to live in. I much rather move to SoFL. Along with all that joining the NYSP would essentially isolate me from all my friends and family for atleast 2 years as I almost guaranteed to be placed in a location hours from home. (NYC Metro area)

[KingOfJericho]

Originally Posted by Jonzny

22 Years old with an Undergrad in Accounting from a no name school. Planning on pursuing my MBA in Finance from a B-List school, currently employed full time in the Financial industry.

Ideally I want to work on the front end, either as an Analyst or a Manager for an investment firm or fund. To do that, I figure I'd have to take on $60k in grad school loans and absolutely kill it in school in terms of grades.

The issue, and why I am here for advice is that I have an opportunity to join the NYSP this year, and bump my salary $35k by next year and earn $95k within two to three years. Eventually topping out somewhere in the mid $100k's by my mid thirties. Along with that income I will also end up with roughly a $60k annual pension without having to contribute a dime and can retire by my mid 40's. That's a bit over $2MM assuming I live till 80.

Problem is I love finance, always have and would truly like to work in this industry. Not to mention I would not be tied down to a state I frankly no longer care to live in. I much rather move to SoFL. Along with all that joining the NYSP would essentially isolate me from all my friends and family for atleast 2 years as I almost guaranteed to be placed in a location hours from home. (NYC Metro area)

I think the flaw in your plan is that you want to work in the financial industry while moving away from the city where a disproportionate amount of the industry resides. When you figure it out, let me know [typed from my desk in midtown]

[dmicha3l]

Don't think you should be asking for career advice on a car forum... Unless you want to become a mechanic..

[marrk]

My advice: do something you love if it pays well or even just enough to live comfortably, do something you hate only if it pays you a shit ton of money, don't something that you hate or just like and pays only moderate money which is what most people fall into and end up hating for the rest of their careers, lol.

[M3 Number 86]

no name school doesn't matter if you really have talent. I would invest in the now and make a name for yourself. Don't bother with MBA until you get some experience. Heck I know people that run finance groups without MBAs and I'm on that path too.What does an MBA do? Get your foot in the door and teach you things you should have already known? If you make a name for yourself and therefore get connected, there you go, same shit as MBA without paying for it.

This advice is not for everyone though.

[M3 Number 86]

Originally Posted by dmicha3l

Don't think you should be asking for career advice on a car forum... Unless you want to become a mechanic..

maybe in a Honda forum but in a BMW forum? We are winning in life no?

[Jonzny]

Originally Posted by KingOfJericho

I think the flaw in your plan is that you want to work in the financial industry while moving away from the city where a disproportionate amount of the industry resides. When you figure it out, let me know [typed from my desk in midtown]

I know, I figured chances of me getting into a bigger firm w/o a target school on my resume would be damn near impossible anyway. So I was looking at smaller firms which have locations in FL.

Trust me I have no qualms about staying here, if the opportunity presented itself. (which frankly wouldn't take much)

[Jonzny]

Originally Posted by M3 Number 86

no name school doesn't matter if you really have talent. I would invest in the now and make a name for yourself. Don't bother with MBA until you get some experience. Heck I know people that run finance groups without MBAs and I'm on that path too.What does an MBA do? Get your foot in the door and teach you things you should have already known? If you make a name for yourself and therefore get connected, there you go, same shit as MBA without paying for it.

This advice is not for everyone though.

There is no way for me to display that talent without getting in first though. Which is what the MBA would provide me with, the company I work for does business with portfolio managers for almost all the big IB's but i'm on the low end of the totem pole here, and even my superiors rarely meet with the people on the side I would like to be on.

[KingOfJericho]

Originally Posted by Jonzny

I know, I figured chances of me getting into a bigger firm w/o a target school on my resume would be damn near impossible anyway. So I was looking at smaller firms which have locations in FL.

Trust me I have no qualms about staying here, if the opportunity presented itself. (which frankly wouldn't take much)

As I'm sure you know, the hardest part is getting your foot in the door. I went to a dogshit college and literally started at my firm sorting the mail and stapling trade confirms. Worked my way up from the very bottom.

[SunnyD]

If you're really into finance, why not pursue a CFP/CFA instead of an MBA?

[KingOfJericho]

Originally Posted by Jonzny

There is no way for me to display that talent without getting in first though. Which is what the MBA would provide me with, the company I work for does business with portfolio managers for almost all the big IB's but i'm on the low end of the totem pole here, and even my superiors rarely meet with the people on the side I would like to be on.

Try a company like Bloomberg or FactSet. Companies are always looking for people with advanced skills in those types of systems. I always see our coverage leaving for the buy side.

[KingOfJericho]

Originally Posted by SunnyD

If you're really into finance, why not pursue a CFP/CFA instead of an MBA?

Yes, good point. CFA or CIPM would show you have the skills without requiring the advanced degree.

[Jonzny]

Originally Posted by KingOfJericho

As I'm sure you know, the hardest part is getting your foot in the door. I went to a dogshit college and literally started at my firm sorting the mail and stapling trade confirms. Worked my way up from the very bottom.

Did you have to complete grad school before moving up to a significant position?

Well yes that is why I figured I'd tackle my MBA now, have my 1.5 years work experience and then move forward towards a position more in line with what i'd like to do. Or I suppose I can continue my job hunt again and try to place myself in a firm now. Although I am afraid of how that would look to employers if I start sending out my resume 4 months into my current position.

Originally Posted by SunnyD

If you're really into finance, why not pursue a CFP/CFA instead of an MBA?

That is a thought, always planned on completing it after. Simply felt that the MBA would get me into a position I'd like to be
Also CFA requires 4 years of Full Time work, I only have 4 months as of now and a few summers through college

[M3 Number 86]

Originally Posted by Jonzny

There is no way for me to display that talent without getting in first though. Which is what the MBA would provide me with, the company I work for does business with portfolio managers for almost all the big IB's but i'm on the low end of the totem pole here, and even my superiors rarely meet with the people on the side I would like to be on.

that doesn't make sense to me. If you perform at a superior quality then anyone (or has ever) and bring in new ideas, someone at the top will say who is this kid? I've had my work untouched go to the COO/CEO as an analyst (2 years in or so) at a major entertainment company plenty of times so people do actually see your work. The best news that came back with it - he didn't yell at any of us in the meeting. LOL

An MBA doesn't guarantee anything except loans to pay off. I've worked with Harvard MBAs that are straight up stupid and make me wonder if it was just affirmative action because no way in hell they got into that school with the level of intelligence that was displayed.

There are many paths to success - maybe you need to find an opportunity at a place where you can make an impact first.

If your superiors don't even work with the side you want to be on, try networking to get on the low end of the totem pole on the right side.

You studied accounting - but what do you mean by finance - that is very broad / vague meaning.

[Jonzny]

Originally Posted by KingOfJericho

Try a company like Bloomberg or FactSet. Companies are always looking for people with advanced skills in those types of systems. I always see our coverage leaving for the buy side.

As in employment or become familiar with their systems? My company does not use either.

Originally Posted by KingOfJericho

Yes, good point. CFA or CIPM would show you have the skills without requiring the advanced degree.

CFA you need 4 years of Full Time employment, I only have 4 months and a few summers throughout college.

CIPM I can and likely will do soon, that's essentially all my company does. A few of my coworkers took it recently and they said working here helped immensely.

[KingOfJericho]

Originally Posted by Jonzny

Did you have to complete grad school before moving up to a significant position?

Well yes that is why I figured I'd tackle my MBA now, have my 1.5 years work experience and then move forward towards a position more in line with what i'd like to do. Or I suppose I can continue my job hunt again and try to place myself in a firm now. Although I am afraid of how that would look to employers if I start sending out my resume 4 months into my current position.



That is a thought, always planned on completing it after. Simply felt that the MBA would get me into a position I'd like to be
Also CFA requires 4 years of Full Time work, I only have 4 months as of now and a few summers through college

No advanced degrees. Same with most of my coworkers.

[eluded]

If you get married factor in half of everything being lost and then there are the kids .....

[KingOfJericho]

Mr.Positivity has chimed in.

[Jonzny]

Originally Posted by M3 Number 86

that doesn't make sense to me. If you perform at a superior quality then anyone (or has ever) and bring in new ideas, someone at the top will say who is this kid?

An MBA doesn't guarantee anything except loans to pay off. I've worked with Harvard MBAs that are straight up stupid and make me wonder if it was just affirmative action because no way in hell they got into that school with the level of intelligence that was displayed.

There are many paths to success - maybe you need to find an opportunity at a place where you can make an impact first.

You studied accounting - but what do you mean by finance - that is very broad / vague meaning.

Sorry, without context. My company has maybe 30-50 people in the office, our work is pretty straight forward. The best anyone can do here is solve some type of mistake or have a better understanding of our software. That I can do especially with do time. Even so I would have no one to "promote" me to people that could help me get to where I want to be.

I do think the best option is moving to a position in a firm where they atleast have positions I would like to be in

[RickFLM4]

I'm in South Florida and know the Big 4 are always looking for people. They all have growing advisory practices as well. They also have pretty good paths to promotion and you can always move out of the Big 4 to something else pretty easily. Given that you have a degree in accounting, have you considered that as a starting point? (School won't matter but grades will.)

[M3 Number 86]

Originally Posted by Jonzny

Did you have to complete grad school before moving up to a significant position?

Well yes that is why I figured I'd tackle my MBA now, have my 1.5 years work experience and then move forward towards a position more in line with what i'd like to do. Or I suppose I can continue my job hunt again and try to place myself in a firm now. Although I am afraid of how that would look to employers if I start sending out my resume 4 months into my current position.



That is a thought, always planned on completing it after. Simply felt that the MBA would get me into a position I'd like to be
Also CFA requires 4 years of Full Time work, I only have 4 months as of now and a few summers through college

Grad schools take people with 1.5 years of experience?? Which grad school are you trying to go to?

Universidad de Poorest Part of Mexico?

[okusa]

IMO what you need is a job at a reputable firm and use that to springboard into a position with a better firm when you are ready. It's always easier to get a job when you have a job. Skip the MBA for the moment as there is absolutely no guaranty that it will produce a viable ROI. At this age and point in your career experience trumps comp.