Feeling Stuck in My Career
As the title suggests, I’m feeling like I’ve hit a dead end in my career and am falling behind my peers. To give you some context, I’m 25 and live in a major city (but not NYC).
My career trajectory so far has been: 1.5 years in tech sales, followed by 1.5 years as a commercial banking analyst, and now I’m a credit analyst at a niche alternative asset manager for about 8 months. Unfortunately, I feel underpaid in my current position with a salary of $85k plus a 15% bonus. The firm I’m at is quite unique, and I’m unsure when or if a promotion will come – there isn’t much structure, and I’m anxious about being stuck in this analyst role longer than I should be.
I’m uncertain about my next steps, but I’ve brainstormed a few options and would appreciate any feedback.
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Remain in my current role and hope for an associate promotion when I reach the one-year mark.
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Look for an associate or senior analyst position elsewhere, ideally in private credit, direct lending, or possibly real estate.
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Pursue an MBA.
I’m particularly interested in transitioning to direct lending or real estate. With my background in credit, do you think I’d be competitive for an associate or senior analyst role in these areas, or would I have to start over again as an analyst?
One response
It sounds like you’re going through a challenging time, but it’s great that you’re actively seeking options to enhance your career. Given your background and interests, let’s break down your choices:
Stay in your role and hope for a promotion: While it’s always worth considering staying at your current job to see how things develop, relying solely on hope can be risky, especially if the path to promotion is unclear. If you enjoy your work environment and can grow in your role, it’s a viable option. However, it might be wise to proactively seek feedback from your manager about your performance and the promotion timeline to better gauge your situation.
Look for roles elsewhere in private credit, direct lending, or real estate: This seems like a strong option, particularly since you’re open to pivoting into different areas. Your background in credit would give you valuable insights and skills transferable to these fields. It would be beneficial to network within these industries, leverage LinkedIn, and perhaps attend industry-specific events or webinars to meet professionals and learn about potential openings. Tailoring your resume to highlight relevant skills and experiences would also boost your chances.
Consider pursuing an MBA: An MBA can open doors and provide you with a broader skill set, but it’s a significant investment in terms of time and money. If you feel that an MBA is essential for moving into the areas you’re interested in, consider programs that specialize in finance or real estate. Additionally, you should weigh the timing of this option; if you’re still early in your career, gaining more work experience first might enhance your applications and provide clarity on your goals.
In conclusion, transitioning to a different role seems promising, especially with your interest in areas like direct lending and real estate. If you pursue roles in these fields, your prior credit experience will be valuable, though you may need to tailor your applications to address any gaps specific to those roles. Also, consider reaching out to mentors or industry professionals for advice. They can provide insights on how to present your background effectively and may offer opportunities that you wouldn’t find on job boards. Best of luck!