Should I Stay in My Current Role or Seek New Opportunities?
Hi everyone! I’m approaching my three-year mark in my first job and feeling like I’m not quite living up to my potential. As someone who has always aimed high, I’m struggling to find opportunities for growth and learning in my current position.
A bit about my role: I work in the asset management division of a bank. I started as an analyst, and with the help of my boss’s boss, I transitioned into my current role. I manage a book of institutional accounts valued at around $200 million, including various types of accounts like pensions, endowments, 401(k)s, trusts, and corporate accounts. About 75% of these are automated through UMAs and SMAs, while I manage the remaining 25% according to their investment policy statements, discussing any changes with clients when necessary. I also hold quarterly meetings with some clients to talk about performance and market trends.
Despite this responsibility, my day-to-day feels more operational than strategic, and I don’t see myself as a true portfolio manager. I anticipate earning between $95k and $100k this August, and although I work remotely, I live in a high-cost city and manage as best as I can.
I can’t shake the feeling that I’m missing out on invaluable finance experience. In my free time, I take the initiative to learn about UMAs—portfolio construction, low correlation portfolios, manager selection, and research. However, I’m hesitant about pursuing a CFA, as I don’t want to limit myself to that niche.
What I enjoy most about my role is interacting with clients about their investments. It’s rewarding when a client seeks a change in strategy, and I get to take the time to propose tailored solutions. I find myself in deep discussions about investing both at work and with friends and family, and I feel a sense of pride in being able to share insightful advice.
Given my interests and experience, what other areas of finance should I consider exploring? I’m eager to work in an office environment, as I believe the virtual setting is hindering my career growth. As a 25-year-old, I worry that I’m missing out on essential development and networking opportunities by working remotely.
Should I stay where I am or make the leap to something new? Would love to hear your thoughts!
One response
It sounds like you’re at a pivotal point in your career where self-reflection is crucial. Here are some thoughts to consider:
Evaluate Your Current Role: You mentioned feeling like you’re not doing “enough,” which often indicates a desire for growth and challenge. If you genuinely feel that your current position is more operational than strategic, it might be worth exploring other roles where you can leverage your client interaction skills and interest in investment strategies.
Leverage Your Network: Since you enjoy client interaction, consider roles in client facing positions, such as relationship management, sales, or business development within financial services. These roles often require strong communication skills and can provide you with more dynamic experiences. Networking within your current firm or industry can lead to opportunities that align better with your ambitions.
Skill Development: Since you’re interested in portfolio construction and strategy, you might look into roles that involve more analytical work with investments, such as being an associate or researcher in a wealth management firm, or even exploring private equity or venture capital if those areas appeal to you. Additionally, consider short courses or certifications that can enhance your skill set without committing to a CFA if you’re hesitant.
Explore In-Office Opportunities: You’ve recognized that being remote may be limiting your development and networking. Actively seek out opportunities that offer a hybrid or in-office culture where you can engage with colleagues in person and build those relationships. This exposure to different teams and projects can help you achieve a broader understanding of the finance landscape.
Self-Assessment: Reflect on what you truly enjoy and where you see yourself in the next 5 to 10 years. Consider what aspects of finance excite you and how they align with potential roles. Be honest with yourself about what you want to do daily and what motivates you.
Timing and Market Trends: Given the current economic climate, it might be a good time to explore new opportunities in finance, especially if you’re in a financial hub with plenty of options. Research firms that align with your interests, as cultural fit is just as important as the role itself.
In summary, it seems you might benefit from exploring new opportunities that align with your interests in client management and investment strategies. Staying proactive about this could lead you to a more fulfilling role that also allows for the professional development you’re seeking. Good luck!