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  #1  
Old 12-28-2017, 02:01 PM
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jas66Kent jas66Kent is offline
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Default Possible move to Investment Banking

Have been given an opportunity to move to a bulge bracket IB, and I am mulling over the pros and cons.

1. Hours are worse (50-60/week)
2. Pay is about 2x as much of you include bonuses (50% more in base pay)
3. Role is not as technically oriented (this does bother me a bit)
4. Upward salary mobility would be higher but job security is probably lower than in Actuarial
5. I would probably not be coming back to Actuarial after this move most likely (this bothers me a bit as I spent a lot of time obtaining the actuarial qualification).
6. Same location so geographical issues are moot
7. Wife is more onboard with IB than Actuarial

So what say you AO?

The role is in research btw in the IB. But is client-facing (I would be dealing with hedge funds, asset managers etc..).
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  #2  
Old 12-28-2017, 02:08 PM
Westley Westley is offline
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Not a big fan of the research role, it's in decline generally, and new MiFID rules won't help. I wouldn't look at the current/past salaries as predictive.


3 "not as technically oriented" - similar to how Trump is "not as presidential" as Obama. I often see a job posting for "sell side equity research analyst" - all you need to do is pay attention to what's the first word, and what's the last, to know the priorities.
4 Job security - you've already worked as an actuary, not that hard to go back later if you want to, if that makes it better.
5 "sunk cost". Yes, there's an irrational/emotional component, but you'll get over that.


Honestly, wouldn't do it. JMO.
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  #3  
Old 12-28-2017, 02:18 PM
nonlnear nonlnear is offline
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So.. this would most likely mean no PhD ever, right?
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  #4  
Old 12-28-2017, 02:24 PM
kadsura kadsura is offline
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Quote:
Originally Posted by jas66Kent View Post
1. Hours are worse (50-60/week)
2. Pay is about 2x as much of you include bonuses (50% more in base pay)
3. Role is not as technically oriented (this does bother me a bit)
4. Upward salary mobility would be higher but job security is probably lower than in Actuarial
5. I would probably not be coming back to Actuarial after this move most likely (this bothers me a bit as I spent a lot of time obtaining the actuarial qualification).
6. Same location so geographical issues are moot
7. Wife is more onboard with IB than Actuarial
This is the deciding factor IMO.
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  #5  
Old 12-28-2017, 02:27 PM
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jas66Kent jas66Kent is offline
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Originally Posted by nonlnear View Post
So.. this would most likely mean no PhD ever, right?
Nah. I can still finish it, only issue is that I would not be using most of my knowledge gained while pursuing the doctorate. This does bother me. The primary reason I am thinking of IB is the pay and future pay progression. I will however not do it if the pay is not as high/job security is lower than expected.
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Quote:
“Stupidity is a more dangerous enemy of the good than malice. Against stupidity we are defenseless. Neither protests nor the use of force accomplish anything here; reasons fall on deaf ears; facts that contradict one’s prejudgment simply need not be believed – in such moments the stupid person even becomes critical – and when facts are irrefutable they are just pushed aside as inconsequential, as incidental. For that reason, greater caution is called for when dealing with a stupid person than with a malicious one".
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  #6  
Old 12-28-2017, 02:28 PM
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jas66Kent jas66Kent is offline
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Quote:
Originally Posted by kadsura View Post
This is the deciding factor IMO.
Is a VP-level position (I am an AVP now) so she likes the sector and title change.
__________________
Quote:
“Stupidity is a more dangerous enemy of the good than malice. Against stupidity we are defenseless. Neither protests nor the use of force accomplish anything here; reasons fall on deaf ears; facts that contradict one’s prejudgment simply need not be believed – in such moments the stupid person even becomes critical – and when facts are irrefutable they are just pushed aside as inconsequential, as incidental. For that reason, greater caution is called for when dealing with a stupid person than with a malicious one".
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  #7  
Old 12-28-2017, 02:35 PM
nonlnear nonlnear is offline
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Quote:
Originally Posted by jas66Kent View Post
Nah. I can still finish it, only issue is that I would not be using most of my knowledge gained while pursuing the doctorate. This does bother me. The primary reason I am thinking of IB is the pay and future pay progression. I will however not do it if the pay is not as high/job security is lower than expected.
Good. It would have been a pity to give up on that given how much you wanted it.
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  #8  
Old 12-28-2017, 02:35 PM
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Colonel Smoothie Colonel Smoothie is offline
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Can you roll over your AO posts into your Wall Street Oasis account?
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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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  #9  
Old 12-28-2017, 02:39 PM
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jas66Kent jas66Kent is offline
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Originally Posted by Colonel Smoothie View Post
Can you roll over your AO posts into your Wall Street Oasis account?
Ok, this was pretty funny.
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Quote:
“Stupidity is a more dangerous enemy of the good than malice. Against stupidity we are defenseless. Neither protests nor the use of force accomplish anything here; reasons fall on deaf ears; facts that contradict one’s prejudgment simply need not be believed – in such moments the stupid person even becomes critical – and when facts are irrefutable they are just pushed aside as inconsequential, as incidental. For that reason, greater caution is called for when dealing with a stupid person than with a malicious one".
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  #10  
Old 12-28-2017, 03:09 PM
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Colonel Smoothie Colonel Smoothie is offline
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I'd say do it. The worst case scenario is that you go back to actuarial.
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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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