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  #51  
Old 12-30-2017, 01:13 AM
extrovertedactuary extrovertedactuary is offline
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hamster wheel syndrome.
Should’ve read Rich Dad, Poor Dad.
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  #52  
Old 12-30-2017, 01:25 AM
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Colonel Smoothie Colonel Smoothie is offline
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If only kesha were here to see this
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Don't you even think about sending me your resume. I'll turn it into an origami boulder and return it to you.
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  #53  
Old 12-30-2017, 03:52 PM
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If only kesha were here to see this
IFYP
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  #54  
Old 12-30-2017, 04:31 PM
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I know actuarial folks disagree, but titles matter a great deal in the corporate non-actuarial environment.
Titles are so different from company to company that no, they don't matter in the grand scheme. Yes, in any particular place, they might matter. But you really can't compare titles across employers, let alone across industries.

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Have fun enjoying your life. We'll see who's laughing when I die with an extra cool million or two in my bank account.
Eh, my brother was in investment banking, and I went actuarial. He worked a lot more hours than I did, even counting my exam studying. He made a lot more money than I did. He burned out a lot younger than I did, and is now playing in real estate investment. He remains a lot wealthier than I, but I'm doing fine, thanks.

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Only in poor areas. Wealthy areas have a lot of security
I just read Trevor Noah's book. He talks about how in the white neighborhoods, everyone lives in a little prison.

===================

All that being said, JAS, I think you should try it. I think it likely has more status and money than your current job, and you will appreciate both of those. Your wife approves, which is always a plus. And if you say "no", you will always wonder what might have been. I think the odds of your getting back into the actuarial field if that falls through are pretty decent, and I expect, with your connections, you will land on your feet even if that doesn't work out.
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  #55  
Old 12-30-2017, 05:34 PM
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Titles are so different from company to company that no, they don't matter in the grand scheme. Yes, in any particular place, they might matter. But you really can't compare titles across employers, let alone across industries.
Pretty standard in banking, though.

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Eh, my brother was in investment banking, and I went actuarial. He worked a lot more hours than I did, even counting my exam studying. He made a lot more money than I did. He burned out a lot younger than I did, and is now playing in real estate investment. He remains a lot wealthier than I, but I'm doing fine, thanks.
Banking isn't an end goal - it's a couple of years and used to jump into PE. There's a stigma (IDK how true it is) that a lot of the people who remain in IBanking after a 5 or so years of experience are the ones who couldn't get into PE.

The only reason I bring it up is that getting burnt-out from banking is not as common as you'd think. It's 2-3 years of sucking it up, but then life is much better.

Also, I hear banking is much better now than it was 30 years ago due to them having to compete with Silicon Valley for talent.



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All that being said, JAS, I think you should try it. I think it likely has more status and money than your current job, and you will appreciate both of those. Your wife approves, which is always a plus. And if you say "no", you will always wonder what might have been. I think the odds of your getting back into the actuarial field if that falls through are pretty decent, and I expect, with your connections, you will land on your feet even if that doesn't work out.
I 100% agree with the bold, and it's how I make my career decisions. I think Jas should go for it.
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Last edited by ShivamS; 12-30-2017 at 05:41 PM..
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  #56  
Old 12-30-2017, 05:56 PM
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Also, that's not an easy move. You might not get another chance. (Might be easier from life than from p&c, but still, you never know when opportunities might come by.)
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  #57  
Old 12-30-2017, 06:02 PM
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Originally Posted by ShivamS View Post
...Banking isn't an end goal - it's a couple of years and used to jump into PE. There's a stigma (IDK how true it is) that a lot of the people who remain in IBanking after a 5 or so years of experience are the ones who couldn't get into PE...
I didn't realize that. That is what my (ex) SIL did.

My brother moved from packaging mortgages into bonds to actually buying properties, which he seems much happier doing.

Two of my bridge buddies recently retired from private equity. That seems to be a pretty decent life, and a very lucrative line of work.
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  #58  
Old 12-30-2017, 06:12 PM
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Last few posts about "banking" are pretty unrelated IMO. Research isn't about making deals, and isn't very valuable wrt getting into PE IME. PE funds are going to want somebody who has deal experience, can run a team doing diligence and negotiate with buyers and sellers, has a rolodex of potential deal flow. This is right on point with what bankers do. Research not so much.

Research can still be a stepping stone, but mostly geared toward money management. Lots of hedge fund opportunities if you can make the returns, or market yourself well. Or mutual funds, IR, etc.
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  #59  
Old 01-02-2018, 02:49 PM
snakeroberts snakeroberts is offline
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Last few posts about "banking" are pretty unrelated IMO. Research isn't about making deals, and isn't very valuable wrt getting into PE IME. PE funds are going to want somebody who has deal experience, can run a team doing diligence and negotiate with buyers and sellers, has a rolodex of potential deal flow. This is right on point with what bankers do. Research not so much.

Research can still be a stepping stone, but mostly geared toward money management. Lots of hedge fund opportunities if you can make the returns, or market yourself well. Or mutual funds, IR, etc.
thats what I was thinking too. When I hear IB I think IPOs, pitch books, mergers, restructuring, in other words the Boutique banks, long hours, work holidays. They still have complex excel models that the 100 hour grunts work at.
I am thinking "research" would be called upon by these guys during a deal to look at credit risk, equity valuation, impact of debt levels, legal filings ect.
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  #60  
Old 01-04-2018, 08:53 AM
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Nothing wrong with living well.
Will you have a valet?
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