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NonIBJobs #CareerOptions #ExploreOpportunities
Just graduated college and feeling the pressure to go into Investment Banking? π Don’t worry, there are plenty of interesting non-IB jobs out there! Here are a few to consider:
- Management Consulting: Help businesses solve complex problems and improve performance.
- Marketing: Develop creative campaigns to promote products and services.
- Tech Industry: Explore roles in software development, data analytics, or product management.
- Nonprofit Sector: Make a difference in areas like education, healthcare, or the environment.
- Entrepreneurship: Start your own business and bring your ideas to life.
Don’t limit yourself to just one path – there are endless possibilities out there! What are some non-IB jobs that catch your interest? Let’s explore together and find the perfect fit for you! πΌβ¨
saturation diver
My high school classmateβs mum was a chocolate taster
being a credit analyst at one of the big credit rating agencies always seemed interesting to me
Walmart Manager
Research Analyst, Economist, Rates Trader, Investment Portfolio Analyst (MBS, UST, MUNIs, Structured Products), Rates Strategist, Interest Rate Risk analytics, Balance sheet analysis, front line risk, line of business CFO, Product analytics/forecasting, Industry Trend analytics (monetary policy, fiscal policy, interplay of Fed QT), Liquidity subject matter expert, CCAR reporting, etc
Depends what you define as “interesting” though.
what are you looking for
Financial advising. Every day is different.
Wealth management?
If youβre driven but just not into the insane IB workload, Iβd say wealth management, ie financial advice geared towards high net worth clients, can be a great career.
Generally, financial advisors who serve individual clients charge fees based on a fixed percentage of assets under management. Anywhere from 0.5-1.25% is pretty normal, though you might find some firms higher than that. For reference 1.25% on $100 million would be $1.25 million in fee revenue. $100 million sounds like a lot but isnβt that crazy considering you can serve 150-200 clients. There are plenty of financial advisors and teams of advisors who manage billions.
$10 million, which equates to $125k in fee revenue, is considered minuscule in the wealth management space – it isnβt all that impossible to achieve, and $125k is a pretty solid income for someone starting their career. Later on in your career itβs possible that youβd have single clients whose assets total over $10 million. That said, donβt think the $125k would just be profit – there are regulatory expenses, continuing education requirements, and some other hurdles. But if youβre looking at $125k being a beginner FA (as long as you can find that $10 million AUM) versus a $70k job in corporate finance with way less upside, I think WM is the clear winner if youβre interested in putting in the work.
Itβs a rewarding job because you genuinely get to help people, the work varies from portfolio management to sales so itβs hard to get bored, and the income potential is essentially limitless. Not to mention, the endgame for FAs is to hire folks to do the hard work for you and just spend your time taking clients to dinner, rounds of golf, etc. to make the wealthy folks happy.
That said, if it were easy youβd see it get pushed in here a lot more. Most people who try to be FAβs fail. Youβve got to be able to attract a decent client base pretty quickly or you wonβt make any money.
Edit – another benefit I forgot to mention is that since youβre earning a fee by managing portfolios, when the market goes up then so does your income. You donβt have to fight for 5% raises, you get to expect them – and thatβs not counting any new clients you bring in.
Trading, duh
Don’t be a pussy take a man’s job in a trading desk
Thereβs a million options
Turnaround consulting.
There is a company out there right now that is hiring analysts with 0-3 years experience. They have a similar name to Keystone beer. Those who are clever enough to search will find them.
Theyβre hiring out of LA, Atlanta, and Chicago. Small firm, but the experience you gain will be 10x that of IB. Instead of managing pitch books that may never go anywhere, you work on struggling companies and help them turnaround their business or you go through liquidation. You will spend your week siting with senior management (the key decision makers) working through their problems and help create a plan to repay debtors while restricting their business so they can return to a going concern.
Exit opportunities are vast. A simple search on WSO will show you the many places you can go when you decide traveling 4 days a week for 6-9 months out of the year is getting stale.
Good luck.
Working at an asset owner maybe – you work on portfolio construction, asset allocation, manager research etc. Would be working at a pension fund or sovereign wealth fund typically, eg CalPERs CPP Investments, Australian Future Fund
Commodity trader
Jobs are not interesting
Something not always mentioned is working at a RIA or broker dealer in the asset management space. They have everything from trading to consulting to portfolio management. Itβs underrated for being parallel to a lot of functions within traditional banking.