Hi, I am wonder if anyone here who have experiences in the financial service sector give me some advice if the career path is feasible or logical. Sorry if my English isn't perfect, as sometimes I find it hard to express myself in word. About myself I am currently approach 30 soon, I am an introvert. My personality is often slightly social awkward and shy, but very friendly once I become close with people I trust. I live in New York City. I won't say I'm the brightest person, but I am outgoing and tamed. Often I will have strong commitment when I find something I am really interested in, you can say things like competitive video games, and certain types of sports. I will figure new tactics to get to first place. However the reason that I am starting this post is that I have been frustrated with myself and my career path, I wish I figured out sooner about what I wanted to do in life. I graduated with a degree in economics at a government subsidized college. While in college I didn't take any actual finance course until the late years. Once I learned about the financial market, I've been obsessed with trading and investing ever since. The dilemma was, when I graduated this was around 2013, when we were still coming out of a recession, I struggled to even get an internship. After a year of mulling around and trying to co-start some small business with college friend, it lead to nowhere. I finally landed some temp finance job because I was desperate as a undergraduate and no job, but I have since been working different entry level finance job. Fast forward couple of years of working in the back office finance and I am currently a Financial Analyst, I feel ashamed because I thought this was a great career path that I would enjoy and is manageable for me and in moving up the rank. However after having the realization that I was working in the backend billing side (Accounts payable, billing, headcount and cost analysis) I realized this was not the type of career I wanted to be doing for the next 30 years. I don't feel like I achieved much making 55k in an expensive city and I am approaching 30. It had even reduced my confidence and don't even know how I am even able to save up money to raise a family with that salary. I don't even know how long it will take for me to move up the rank to hopefully get better pay as a senior financial analyst. Because I didn't start my career path in the accounting side, I felt like it slowed down my career progression significantly. The job is not difficult but I feel like I can do more in my life, I like working with excel, but in terms of my job responsibilities it is very mundane and mind numbing processing invoices and tracking cost, when its not my interest. If only I knew sooner that I should be looking for jobs that are at least in the front end revenue generating. It is sad to see one of my friend who we both graduated at the same time, he is currently a manager making well over 100k in the marketing advertising field. I know we shouldn't compare, and I should find something I enjoy doing. I always had a craving to learn more about the financial services industry and get a job in the field, but there is always this fear holding me back, because I came from a B/C rated school. I didn't come from top tier Ivy league, and it's very intimidating and degrading that recruiter and large institution always look at those candidates before I will even get a glance. I have tried applying for junior trader and financial market jobs, but I never yield success or even an interview. So I gave up and continue doing my current job type. Most of my free time for the last few years was spent trying to teach myself to learn about investing and trading in the stock markets and options trading, and try to gain financial freedom. I knew the odds were against me greatly in a asymmetrical game but I still went and did it. I went thru all the possible mistake an amateur could make in trading. I made some and lost some, but for the most part lost money. However I still enjoy the game and, it became a growing obsession continues to this day, I have strong passion to figure out the financial market. I have self taught myself to look at charts, market structure, risk management structure, options pricing, volatility, price action micro structure, and nuances of order execution/ layering on risk, price discrepancy, etc. Although I don't have the knowledge of a quant or investment analyst at a bank, I really want to work in the financial markets sector ever since I learned about it. It is frustrating to the point that even at my job I look at the stock markets and run analysis while doing my own real back office finance job. It is messing with my head, because if I commit so much energy and passion to figure out this stock market, I always ask myself why am I not working in the financial service sector. I know I'm not the smartest math genius, but I have fears and regrets that I never got a chance to try out to work in the financial service as a junior trader or some job at a hedge fund. Do you think I even have a remote chance at this age and experiences, as I am not very experience and never worked in the financial services sector. What type of job would fit my personality or interest. Do the type of jobs even mirror to what I am interested in terms of job responsibility? Should I just stick to my current career progression. The irony of it all was I wish someone told me about stocks or investing when I was growing up, I would had found my passion earlier in life and go for it rather than later. Sorry if I am rambling, I am trying to get the words out from deep within me. I couldn't find any other way to type this out in the middle of the night.
If you can't achieve the goal, or job, you want...then society is telling you to lower your standards. You need to have realistic goals and desires in life, or else you will always be disappointed and depressed. Look at me...I'm a virgin, because I have such high standards for a girl. Regular sardine girls doesn't do it for me. I'm always looking for a super hot and/or super successful girl and/or a super trader. -- I better lower my standards soon, or I'll die a virgin. But more importantly, it's 2018...Make Trading and Your Life Great Again...High-Five`
You don't have wife or kids, right? If you're only in your late 20s, then you still have all your life in front of you. I know a few people who quit their jobs to go to school and completely change careers in their late 20s or even after having children. Kids make life changes and life in general a lot more difficult though.
I just had a look at your old thread of 3 years ago... in which you seem to wave off certain advice and soon after disappear. That's never a good start mate... My 2 cents... If you want to get into trading professionally (still options?) try with a smaller prop firm. Apply with an options market maker... see how far that gets you. The smaller ones don't really care about ivy-league or not... just need to be smart and quick thinking. And very very interested, driven and keen. That said, 30 is pushing it a bit.... Also... I don't like people that limit their profile... I always feel like they're trying to hide something.... (@vanzandt hahaaaa)
Totally depends on how much you're willing to sacrifice? Would you relocate? I was a pipeline estimator and realized I didn't want to do that anymore. I ended up applying like crazy, anywhere I could find anything. Ended up relocating to take a junior nat gas trader job at a small marketer for around half my salary. From there relocated again, took a job in asset/liability management (ALM) in operations. Far from glamorous but got some amazing experience in finance and fixed income. They directed me to many classes that were all very beneficial. Finally, a year or so ago, I realized finance not for me and I took a new job as an investor relations analyst for a REIT. Its an amazing job, I track all their property metrics, contribute large sections of the MD&A and annual reports. Track all sorts of data for the executives, do some modeling.... Not necessarily what you want to do, just showing you that change is possible. Just be prepared to sacrifice for it. Go for it, be creative. 30 isn't that old for all jobs. Best of luck to you my friend.
I am currently approach 30 soon, I am an introvert. My personality is often slightly social awkward and shy... This tells me something right there. You may not want sales. You may be good at it...Don't know. I would go back to your university and talk to the placement office. You can take tests there to see what jobs you would be good at and excel at...Also what you would not be good at!! If you do go into the sales side, you will know quickly if it is for you or not. Since English is not your first language, you will be able to use your first language to be able to market your products to not only those who speak your first language, but also the rest of society. But, you have to have great drive. A salesperson can sale cars or stocks...It's in their blood. I tried it...Realtor. I hated to network...Hated it. I felt dirty inside. Toward the end, I didn't even want the phone to ring. I was great at the paperwork and technical issues...But not at sales and networking. You will learn early about cold calling. You may want to rent the movie "The Pursuit of Happyness". Also, you may want a fresh start outside of NYC...Just saying. A slower paced location (in the US)...Like a smaller city where your original people like to be. You may hate the idea of going there, but your one big advantage is your first language...Use it for sales... One last thought...You can take free test online to see what you would be good at...Since they are free they will probably not be very good. I took one and it was spot on!! Doesn't hurt and cost anything...They'll try and sell you something (give them a old, often not used email address) and see where your bent and interest lay. Brian
I saw your old thread too. (https://www.elitetrader.com/et/thre...er-full-time-need-professional-advice.292716/ ) Here's my opinion. It seems like you had a setback on trying to be an independent options traders a few years back after quitting that job. But then you moved on and now have a decent financial analyst job which sounds like accounting type work. I wouldn't feel too bad about options trading not working out. imo, options trading is mostly a scam. My guess at advice for you would be to continue your current career and perhaps supplement it with accounting classes and eventually go for a CPA. As for finance, I don't know since I'm in tech, but I would ditch options trading and get back to stocks, forex or futures trading. I made a similar mistake at first trying to trade options and listening to "options guru"'s lies about trading options particularly spreads for "a living". I'm not interested in a formal finance career since I have plenty to keep me interested in tech. And I made 30% last year on my side trading which I suppose is decent side income. Check out Neke's trading journal. He uses options only for leverage I think, and never delta-neutral spreads.
Everyone likes stock trading because it fires the same chemicals in your brain as sex and chocolate. Grow up and focus on what opportunities you have vs what opportunities you wish you had. I would focus on your career. I would move out of NYC to improve your savings/earnings ratio. I would continue to learn how to manage your own money trading the markets on the side.
Just read the old thread too. It's the same old story. Before it was all about options trading; he was all psyched on options trading despite everybody in that thread telling him he won't succeed because he was horribly underfunded. Now he's at it again trying to go into stocks. My guess is because he's hating his job again. He quit his job and went into options trading because he hated his job; he hated his boss stealing his ideas. This time he's citing office politics problem again. You know what? The OP's problem is not able to see the big picture and FOCUS. Office politics exist EVERYWHERE. There is NOT one job in this world that is perfect; there are b1tches everywhere and there are a$$holes everywhere. It's up to you to manage them, ignore them, do whatever you need to FOCUS on your job. If he's not able to focus, he won't succeed in trading, regardless what he trades. I believe he should stick with a corporate job. If he doesn't feel like dealing with people, then maybe he can request and try to transfer to a job that minimizes human contact, like data-entry or typist. At least with a corporate job, as long as you show up at work on time, finish what you are told to do, you are pretty much guaranteed a paycheque. With trading, if you can't focus, you can lose EVERYTHING and MORE.