Your Career

[FIGJAM]

Hi All,

It seems that there are a number of different people here from all walks of life investing for one reason or another. As I am currently looking at a career change, I am interested in hearing about what other people here do for a living and the pros and cons to the industry.

Currently I am a 23 year old salesman for my parents Shopfitting company. I have worked in sales for another company, dont mind the job but I want to chase the higher paying career. No degree is a bit of a hinderance however I am looking at going to uni part time next year to sort that out.

Pros to my current job:

- Great client base in the cooking industry
- Great discounts on home appliances through big retail brands
- Get to do a few different roles in one, selling, drawing/design and even some IT
- Work for my family has its benefits
- Package is pretty good for the industry

Cons to my current job:

- Boring industry. I have no real interest in it and absolutely no passion.
- Most people who I work with are douche bags and expect something for nothing rather then actually working for it.
- Have to work for my parents
- Salary is rubbish compared to other careers. Unless i took over the business which wont be happening due to one reason or another.

Cheers,
Mitch

 

[prawn_86]

I work as a broker (sales + client management + analysis) in finance. A few people in our co don't have degree's and the money is very good if you are good, the harder/better you work the more you earn. Perhaps look somewhere in finance sales if you are ok with sales.

Cheers

 

[Smurf1976]

My qualifications and background are as an electrician, although these days I spend most of my working time sitting an office making sure that other people do their bit to keep the lights on (literally).

Hands on work - done it. Safety committees etc - done it. Supervisor - done it. Management - done it. Currently doing a bit of everything and quite like it that way.

My best advice is to do something you like doing rather than pursuing a career solely on the basis of expected income. Then, if you are good enough at what you do, you can turn that into a decent income with a bit of effort.

It comes down to being good at what you do, actually doing it, and using that to your advantage. You will be hard pressed to do this if you don't actually like what you do at work. My experience is that in a decent organisation, those who are any good usually find some way up the ladder. There is the odd exception, the idiot who gets promoted etc, but in general it works out eventually.

Whatever you do, do it well.

 

[MrBurns]

Was a real estate agent, good if you like meeing new people and the money is good.

 

[CanOz]

My whole career has been devoted to food manufacturing. I started out doing everything around the factory before i went out and got a trade. Then i spent time in engineering before moving into Total Quality Management and then eventually into Production. I did all the shift work around the clock for 7 years as a supervisor before being promoted to Production Manager. I've worked in 7 Plants on 3 continents in 4 countries. After a few years i got the role i always dreamed of, Plant Manager.

The role of the Plant Manager was/is the most rewarding. It isn't just keeping the lights on, but its working with people and the vision for the plant. At my previous employer 90% of my time was talking about talent, to talent, or problem solving with our talent. Being a leader means being a teacher for these people as well as a mentor. Creating ownership/empowering and seeing people grow was and still is the most rewarding part of the job. I consider my team like a family, and work closely to help them reach their goals and grow themselves while at the same time reaching the goals of the business. For i believe its more about the journey, than the end result. If you look after your people's growth, enable achievement, the business will grow too.

When i took a year off to trade, i really missed the interaction with a team of talented people.

CanOz

 

[FIGJAM]

I work as a broker (sales + client management + analysis) in finance. A few people in our co don't have degree's and the money is very good if you are good, the harder/better you work the more you earn. Perhaps look somewhere in finance sales if you are ok with sales.

Cheers

I have been looking at trying to get into the finance game as the whole making of money idea interest me (especially if I am the one making the money). I was considering doing a degree in finance part time whilst trying to obtain work in the industry. The only thing that has me a little concerned, all the degree's recommend having had 2 units of maths in high school, maths was my weakest subject and something I struggled with.

My qualifications and background are as an electrician, although these days I spend most of my working time sitting an office making sure that other people do their bit to keep the lights on (literally).

Hands on work - done it. Safety committees etc - done it. Supervisor - done it. Management - done it. Currently doing a bit of everything and quite like it that way.

My best advice is to do something you like doing rather than pursuing a career solely on the basis of expected income. Then, if you are good enough at what you do, you can turn that into a decent income with a bit of effort.

It comes down to being good at what you do, actually doing it, and using that to your advantage. You will be hard pressed to do this if you don't actually like what you do at work. My experience is that in a decent organisation, those who are any good usually find some way up the ladder. There is the odd exception, the idiot who gets promoted etc, but in general it works out eventually.

Whatever you do, do it well.

Thats the same mentality that my old man has been trying to tell me. I strongly agree with it. The way I see it, if you are doing something you enjoy you will work harder and be better at it. The only thing is, the things that I like don't really have a career path to travel.

Was a real estate agent, good if you like meeing new people and the money is good.

I have never really considered being a real estate agent. A couple of people I went to school with got into it. If I understand correctly, you need a Tafe certificate to do it?

My whole career has been devoted to food manufacturing. I started out doing everything around the factory before i went out and got a trade. Then i spent time in engineering before moving into Total Quality Management and then eventually into Production. I did all the shift work around the clock for 7 years as a supervisor before being promoted to Production Manager. I've worked in 7 Plants on 3 continents in 4 countries. After a few years i got the role i always dreamed of, Plant Manager.

The role of the Plant Manager was/is the most rewarding. It isn't just keeping the lights on, but its working with people and the vision for the plant. At my previous employer 90% of my time was talking about talent, to talent, or problem solving with our talent. Being a leader means being a teacher for these people as well as a mentor. Creating ownership/empowering and seeing people grow was and still is the most rewarding part of the job. I consider my team like a family, and work closely to help them reach their goals and grow themselves while at the same time reaching the goals of the business. For i believe its more about the journey, than the end result. If you look after your people's growth, enable achievement, the business will grow too.

When i took a year off to trade, i really missed the interaction with a team of talented people.

CanOz

Sounds like you found a lot of enjoyment and fulfillment from your career. That would have made going to work all the better each and every day.

I wasn't actually after career advice rather more just interested in what paths other members have taken. With that being said, thanks to everyone for taking the time to post, was a good read.

Still want to hear what other members are doing

Cheers,

 

[prawn_86]

I got this job out of uni where i did a double degree in finance and marketing. The more qualifications you have these days the more options that opens up to you

 

[CanOz]

FIGJAM, have you checked out Propex? http://Propex.net.au

Might interest you...

 

[doctorj]

The only thing that has me a little concerned, all the degree's recommend having had 2 units of maths in high school, maths was my weakest subject and something I struggled with.

Finance is a very, very broad field. If you dream of being a quant or an actuary you will need to be extremely strong in mathematics. For everyone else, most of what you need can be done on a calculator or with excel. You need to understand the basic concepts, but as long as you are competent with excel you’ll be fine.

I work in private equity, investing in non-bank financials in Eastern Europe and North Africa. I found my way here via a financing and accounting degree and a graduate audit position at E&Y. Even here, I once had a discussion with my Director to help him with the difference between IRR and NPV so you might conclude that even a rudimentary understanding of mathematics might not be necessary…

From what I see here, there are two types of people in finance – those that are extremely technical (good at maths etc) and those that have strong negotiation/communication skills. The technical folks do ok, but they do find themselves hitting a ceiling before those with strong communication skills.

 

[Julia]

Being a leader means being a teacher for these people as well as a mentor. Creating ownership/empowering and seeing people grow was and still is the most rewarding part of the job. I consider my team like a family, and work closely to help them reach their goals and grow themselves while at the same time reaching the goals of the business. For i believe its more about the journey, than the end result. If you look after your people's growth, enable achievement, the business will grow too.

Great comment. For me there was nothing more rewarding than training and encouraging others to fulfill their potential.

Figjam, perhaps consider advancing your selling career (where you're much less likely to need that pesky degree) to the point where you could get into market/sales management/training of new recruits.
You'd have to be able to see the potential in people, however, and definitely not regard them as douchebags.

 

[pixel]

Finance is a very, very broad field. If you dream of being a quant or an actuary you will need to be extremely strong in mathematics. For everyone else, most of what you need can be done on a calculator or with excel. You need to understand the basic concepts, but as long as you are competent with excel you’ll be fine.

I doubt whether Excel competency can be obtained without a strong grounding in Logic - also a branch of Maths. For one who struggled with Maths, that is probably hard to achieve.
And we haven't even touched on the calculation of probabilities, averages, and percentages.

I work in private equity, investing in non-bank financials in Eastern Europe and North Africa. I found my way here via a financing and accounting degree and a graduate audit position at E&Y. Even here, I once had a discussion with my Director to help him with the difference between IRR and NPV so you might conclude that even a rudimentary understanding of mathematics might not be necessary…

From what I see here, there are two types of people in finance – those that are extremely technical (good at maths etc) and those that have strong negotiation/communication skills. The technical folks do ok, but they do find themselves hitting a ceiling before those with strong communication skills.

Doctor, your director is simply proof that the gift of the gab often, maybe always, overcomes real knowledge. All too often have I found that ideas were hijacked and "sold" to the Board without mentioning their author. Only when they turned out not to deliver the perfect result, was the original paper pulled out and blame shifted.

Great comment. For me there was nothing more rewarding than training and encouraging others to fulfill their potential.

Figjam, perhaps consider advancing your selling career (where you're much less likely to need that pesky degree) to the point where you could get into market/sales management/training of new recruits.
You'd have to be able to see the potential in people, however, and definitely not regard them as douchebags.

Same here, Julia: Passing on knowledge is a task in itself. However, that, too, requires skill and strong literacy talent. No disrespect, but what I gather from FIGJAM's writing style, he may be in need of some tuition in that area as well.
In the context of the original question, I'd also find it doubtful whether a career in training would deliver the desired financial rewards. Marketing/ Advertising more likely - if you have a creative mind and are at least able to recognise and add value to ideas put forward by other creative minds.

(As to my own background: My relevant degrees are in Mathematics and Operations Research. I have worked on all levels of IT, from programming Operating Systems for IBM, designing tracking systems for ESA space missions, to automating laboratories, steel plants, and printing presses. I found the strongest obstacle on the way to the "very top" are impatience and the inability to accept a lack of competence and understanding in others. If the "other" happens to be your MD or line manager, you're in trouble.)

 

[McLovin]

I doubt whether Excel competency can be obtained without a strong grounding in Logic - also a branch of Maths. For one who struggled with Maths, that is probably hard to achieve.
And we haven't even touched on the calculation of probabilities, averages, and percentages.

Most IB/PE Excel stuff is fairly rudimentary. It's the sort of grunt work you get bright-eyed grads to do for you. They'll happily hum away 15 hours/day. I know this because I was one. You wouldn't need more than basic maths. I have noticed in Australia more emphasis is placed on what degree you did than in North America and Europe. I worked with plenty of people who had degrees in things as varied as aeronautical engineering, French, ancient history etc. Quants obviously have strong maths skills but otherwise, it's not really a requirement beyond having some degree of numeracy. In my opinion, someone with a law degree has a better mindset for IB/PE than someone with a maths degree. I wouldn't want to be getting into finance now though, the glory days are over for now.

 

[oowl]

I work in recruitment. A lot of areas in it are very sales based - you are selling your own services to businesses, and you are working with people to sell themselves to businesses. There is often commission. I have colleagues who have gotten in with sales backgrounds. I've nearly finished a combined degree of Human Resources and Marketing, and I'm looking to move into a different area of HR.

 

[Julia]

I've often thought recruitment or other aspects of HR would be quite interesting. Do you enjoy it oowl?
What are the downsides?

 

[Julia]

In the context of the original question, I'd also find it doubtful whether a career in training would deliver the desired financial rewards.

Probably depends on the industry. The rewards in such positions in multinational pharmaceutical companies are very considerable.

 

[MrBurns]

I've often thought recruitment or other aspects of HR would be quite interesting. Do you enjoy it oowl?
What are the downsides?

One of my sons has a Degree in psych, I also would like to know if HR is worthwhile ............

 

[FIGJAM]

sorry about my absence over the weekend, it was a little busy.

when i say i struggled with maths, that was during the exams. For some reason I crumbled in the exam but nailed it every time in class. Even have a couple of class tests where i was getting 90%

recruitment seems interesting. Would be a hard field as well. Working where I am now I have seen a number of new employees come in and interview very well, promise the world and wind up to be a dud. That would be the biggest challenge I think with recruitment, is separating the good from the bad.

 

[white_goodman]

One of my sons has a Degree in psych, I also would like to know if HR is worthwhile ............

first place they look to cut during bad times..

 

[white_goodman]

I wouldn't want to be getting into finance now though, the glory days are over for now.

in some senses yes. I still think as a % of the workfroce FIRE isnt going to lose any ground, just the nature of it may change IB > smaller funds, traditional finance > gas and energy etc etc

 

[white_goodman]

I got this job out of uni where i did a double degree in finance and marketing. The more qualifications you have these days the more options that opens up to you

agreed, a lot of jobs have requirements for post-grad these days

im doing double masters atm, its not overly difficult in content generally speaking, its just the time constraints.
Also speaking from my personal experience the vast majority you are 'competing' with are mainland Chinese (not aussie-chinese) and thus not going to trouble you for competition for jobs after. 2cents