Between 2006 and 2008 I worked as a buy side analyst at a US asset manager based in London. I passed CFA level 1 with flying colours. I left as I was sick of 50+ hour weeks and a lousy quality of life - commute / reasonably high pressure. Since then I have moved up north to do admin for a university. In my spare time I have managed my own portfolio which has more than tripled. (Mostly equities without using silly leverage). Does anyone know of anywhere I can get a job doing some sort of equity analysis which will give me a good standard of living? Everywhere in the city seems to be rather high stress and quite unpleasant. As I get older and (ideally) richer the typical city job just does not appeal. Before I left I tried to bargain and do things like ask for far less money than they were offering for fewer hours but no-one would negotiate. I enjoyed, was good at and to some extent miss the job - however I want a better deal. Does anyone have any ideas how I can get one?
Advisory firm - would seem to make sense - I dont have full CFA only level 1. I did the IMC - (I am in the UK) I dont know how it is in the US but in the UK an advisory firm is so limited in the way it can advise and how it can charge to me it isnt attractive. Regulation is so strict seems like there is only very limited "advice" you are permitted to give and you would spend most of your time managing the FSA.
Why not work as an investment advisor for another firm and take CFA level II and III. The other alternative is to just grow your own portfolio if you can really triple it every few years.
It sounds like The OP is not willing to pay his dues. Any cushy "analyst jobs" are long gone with phat expense accounts and bonuses for dead wood left with Elliot Spitzer in the last era of Wall Street. If you really tripled your account, then raise a few bucks and get to work, money will find you. Otherwise get a job as a master carpenter, you are DEAD WOOD. R.I.P.
El Pollo - no not willing to "pay dues" at all really. Never accepted the concept - my thinking is along the lines I will sell something of value - in terms of my time, coupled with skill and receive a fair price for it. Most employers I have seen in finance just seem to tell one story before interview and another after it. They want to own me and I dont intend to let them. As to "raising a few bucks". I wouldnt know how to do it legally in the UK. Rules are stricter here than in the US and I dont move in the sort of circles where the ammount of money that would make a difference to me floats around. I wont use family money.
The reality is, there are talented guys right out of B school, top schools willing to do the job and pay their dues, why would they even interview you, you are washed up driftwood. My suggestion, start your own fund/advisory service, I apologize for my frankness, but the state of Wall Street jobs is pretty grim unless you are in the top 5% of your game.
Hi El Pollo - I see your point - its not a bad idea - I may look into the advisory / fund route. I had thought the regulatory stuff would be beyond me. Went to Oxford - top enough school. Not sure about top 5% hard to say. I havent even been attempting to get interviews. Need a strategy to find some employer who wont want the 'usual'...
If you have any raw stock picking skills and went to Oxford, sell yourself MF'er! Walk into SAC and tell them what you can do. I am just using that as an example, I know guys that were mediocre stock pickers making 500-600K a year as Junior suck ass analysts that make a pretty nice living working for SAC. There are a dozen places that would give you a shot if you are not a total hack. You eat what you kill at these shops.
Not so much I didnt enjoy it - just looking for a different balance - say 70% of the work week for 50% of the salary? El Pollo - who or what are SAC - I google it and I get Scottish Arts College and I am sure thats not what you mean. Its not that I cant sell myself (its how I got the job in the first place) - just the guys I am selling to wont negotiate !