November 5, 2024

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non-Investment Banking Finance Job with HIGH PAY & GREAT WORK LIFE BALANCE? #Finance

non-Investment Banking Finance Job with HIGH PAY & GREAT WORK LIFE BALANCE? #Finance


the answer is it does not exist i’ve been getting this question a lot recently are there any Finance jobs that are like banking where you make a lot of money

but you also have work-life balance and you’re not as stressed i don’t think that answer exists and this is why i’m a big believer in that people are paid a lot for a reason either they’re paid a lot to do a lot of work or they’re doing work that only they can do or

both if you’re doing a lot of work and it’s the work that only you can do you’re probably being paid the most i think most jobs in the world most careers in the world make sense but in order to not be clickbaity here are some

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance jobs that i know of that i know that my friends are in that might not make as much as banking but definitely has a better work-life balance and also gives them some form of meaning by doing something

intellectually stimulating and sexy corporate Finance is by definition a text-decoration: none;">Finance role where you go into a corporation and you work with its Finances i actually don’t have many friends in corporate

Finance and corporate Finance is not a hot exit

opportunity most people that i know of that are in corporate Finance i think go directly into corporate bold; color: #1a73e8; text-decoration: none;">Finance after college and it’s more of an Accounting based role that turns into a Finance

role and we largely know it as fp a or being a controller and these folks project company bottom line and they tell their bosses that the company’s going to perform this much next quarter or we’re projecting to hit these Revenues next quarter next year so on and so

forth i personally don’t find this very fascinating to look at historical numbers current performance and then tell people that this is how we’re going to perform later but it’s definitely much better work on balance because you’re working for your man not someone

else’s man the salaries are obviously lower i think introductory salaries start out like 70k and then as you move up and become senior you definitely hit the six figure number but on the better end comparative that’s making another more high intensity

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance rules i think the barrier to entry of networking and trying to get a roll is lower the end goal for such a role is becoming a cfo of company at which you’ll obviously make

a lot of money but you’re making less money than you would in banking it takes you a very long time to become a cfo better work-life balance and appropriately less pay and perhaps slightly less exciting work but lower barrier to entry and then the reason why i think that the whole question of

are there jobs like Investment Banking that has a better work life balance but you don’t need to put that much work in as much as Investment Banking but you make some more amounts of money the reason why i think that question is flawed is because there are

rules like that but most if not all those roles require banking as a background so people always talk about exit opportunities in banking and i think that’s exactly what they’re talking about roles like pe hedge fund or dev being strategy oriented are all requiring banking backgrounds

and i think that’s no surprise because they want to filter those out that can handle the heat i can get that concentrated amount of training of working in a professional field learning how to work with financial numbers and excel and then come into the field you have to realize that companies

want people that are trained so they don’t have to spend their time and money training them recent grads right out of college who have had that two-year high-intensity experience through banking are more qualified than others that don’t it’s not necessarily about the actual skills

you learn but i think the title itself gives you a label almost a free pass into these advanced sexier slightly better work-life balance fields because they expect you to have learned in that expedited time of two years in that concentrated highly focused 80 to 100 hour week career the things that

you need to get is those roles i’ve talked about these roles numerous times in these CashNews.cos so i don’t want to juice them out and make a repeat CashNews.co but basically the buy side so you’re working on the sell side and banking working on behalf of clients and then you can

jump over to said clients the biggest being private Equity where these funds have their own money and their whole purpose is to play hot potato and buy a firm grow it financially engineer it and then sell it off to the next private Equity or strategic buyer you can

join as a pe associate post banking and make great salary definitely six figures make decent bonuses maybe not as much as banking associates now but the longer run longer term goal is to get that carry interest and make millions and millions of dollars as a vp principal director part whatever they

call in private Equity the issue is is that the top is very narrow and it’s not as easy as banking to go up that ladder venture Capital kind of behaves in a similar way except vc firms need a lot less juniors need less technical ability and it’s more

about networking and finding the right companies to invest in and developing a relationship that allows you to invest in these companies and vc firms don’t really directly recruit you’ll notice that in linkedin unlike private Equity corp death corporate

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance and even banking rules there aren’t job postings that say we’re looking for vc analysts or associates it’s because they don’t need that many and

it’s very bottom line and partner heavy many vc firms consist of two to three people who came out of a previous vc fund and are now using their own money to invest in companies and they kind of play this one nice egg will make the entire it’s not an egg one bad apple makes the entire

that’s also a bad analogy but initially they invest 100 companies want one of them to succeed and the one will cover for the 99 that are bad they don’t really necessarily need that many juniors to cover for that hence the lack of recruitment there vc also perhaps less than private

Equity you’ll reach the six figure mark and then if you cash out and do really well and with those Investments you’ll make a crap ton of money and there’s corp dev which is the slightly less sexier side of the buy side but it’s essentially

the same thing except your company’s sole purpose isn’t to buy and sell companies or make money off the investment in the company but make the company as a whole better and make more money as a result of the Investments companies that you chase after so when amazon

bought whole foods there is an internal team that works on that alongside a bank and you’re working within the company working for the real company and looking for potential Mergers acquisitions and divestiture opportunities and even in those rules you are working decent

hours definitely better than banking probably 60 70 at most sometimes 80 if you’re near the deal closing but i’ve heard that it’s much better work-life balance you’re not depending on deals for your salary slash end of your compensation so there’s less of a pressure to

attest to clients because your company yourself you are technically your own client if you look at it as a bigger picture you’re gonna hit the six figure mark but the compensation upward range is definitely limited compared to banking and the other sexier side by side roles essentially what

i’m trying to say is i think the question of are there roles like banking that are in Finance where you make a lot of money but there’s a better workout balance

there is no perfect job because if there was a perfect job everyone would be asking about that job and youtubers that cover those topics will do extremely well and everyone will study to go that route i think there are reasons why certain jobs pay a lot there are reasons why people stick with

certain jobs even they suck there are reasons why people default to other jobs even though they don’t pay as much there’s a reason for everything and that perfect perfect job that you guys are looking for sadly doesn’t exist and if there was i would be pursuing that too so in

conclusion my one sentence summary of the day is become a software engineer as always i thank you guys so much for watching this CashNews.co and i will see you guys next time let’s go

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49 thoughts on “non-Investment Banking Finance Job with HIGH PAY & GREAT WORK LIFE BALANCE? #Finance”

  2. I think there are cons to any role. I work in Commercial Banking / Underwriting and I work 40-50 hours a week and have a pretty decent work-life balance. But also I have aspirations to do something more prestigious/ get more pay, still with work life balance but like you said, there is no “perfect” finance job.

  4. I disagree. Platinum relationship managers at Etrade only work 40 hours a week and its basically just customer service. No math, no quant. Just white glove customer service. And getting sales referrals to the FAs. Top performers are making 200k+ and after a year or two one can become a senior relationship manager (what was private client) and top performers can make 400k a year. I don't know. That seems pretty good for just white glove customer service, that is not above 40 hours a week and is not technical in the least.

  6. Corporate and commercial finance is super interesting and you get so much more influence over corporate strategy compared to banking and investment banking. Budgets are often set based on a marginal yoy growth and yes that is naturally set based on historical performance. You have only heard of this because budgets are typically released by listed companies to the public but internal forecasts are based on operational strategy and if you’re the internal analyst, you get to play a key role in analysing market dynamics, organisational capability, set internal kpis and targets, work with Marketing to propose new products or services, visit clients suppliers, operational sites and present the monthly financials to up and downstream management every month.

    It’s a very fulfilling role, especially for people who like to see meaningful outcomes from the contributions of their work, as you play a very pivotal role in the crafting the 1-10yr game play for the company.

    The work life balance is reasonable and you typical can take your annual break, sick leave and morning coffee break.

    If you’re chasing dollars and work life balance dentistry is not a bad option.

  7. Bryan what about being a quant trader? The pay can be seven figures if you have a really good year and it has a great work life balance. The only difference is that you may need a phd but it has one of the highest earnings potential on Wall Street.

  8. Bryan what about being a quant trader? The pay can be seven figures if you have a really good year and it has a great work life balance. The only difference is that you may need a phd but it has one of the highest earnings potential on Wall Street.

  9. I work in the WM branch of a top investment bank. The Brokers are making hundreds of thousands a year and hardly lift a finger. No CFA, MBA or even CFP. Just series 7 and 66.

  10. Well I guess high pay is relative but roles in family offices, endowments, investment consulting, and asset management would all fall under “finance” to me and generally have good work/life balance

  11. The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?

  12. I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024

  14. I am currently working into a financial advisor transition specialist role..

    It’s not sexy, but it’s pretty easy and straight forward.. all you really do is enter data and make sure paperwork is in order for advisors that are transferring from one financial institution to another. Literally within a year of starting, you can be making up to 70k 2 years can be 80k+

    Here is the fun part.. some companies like Wells Fargo will fly you all around the country to do it.. they will pay for all of your flights, all of your food, gas, hotels, etc.. so you are traveling for about 2 weeks each month.. and your expenses are covered for that time.. so it’s a great way to minimize your expenses while making a great salary, while also getting to travel etc..

    I personally am pretty happy making 80k because that gives me enough to save for a house, and save for apartments and investment properties to make rent off of. You stack a few of those up, then save to by a franchise store that is managed for you and generates a good income, then you use all of that income to continue saving and start your own passion project/business or continue investing in cashflow assets. Bam.. getting rich isn’t hard.. it just takes patience, discipline, and a plan.

  21. I work for myself. 3 stocks. Never trade in and out. Track their quarterly results. Focus on the long ball and let compound growth work for me. I get decent dividend payout plus I borrow 5% against AUM in collateralized loan. Usually at the gym during market hours. Don’s ever worry about market volatility. Just free rolling and chilling the f out. Yes, the greatest job in finance does exist. Just gotta be patient and pay attention to all the small details.

  22. at the senior levels of certain investment management roles (rather than hardcore IB), you can actually earn q a lot while having decent WLB. but ofc at entry level theres no finance job that pays super well while having good wlb

  23. I'm enlightened by the intellectual rigor of this content. A book with related material changed my approach. "A Life Unplugged: Reclaiming Reality in a Digital Age" by Theodore Blaze

  35. I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45

  38. Hey Brian! youre videos are so helpful. I work in audit at a Big 4 with clients in the PE and Hedge Fund space as a Senior Auditor. Is recruiting for a PE/HF out of audit into a finance/ops/accounting associate role something you would consider a success? im looking to get out of audit and gain some other skills (potentially move into a strategy role if I dont like the PE/HF space) and with the current economy this is my strongest option. Any advice would be so helpful!

  40. It actually exists, but it is not so much in the scope of the public. The reinsurance industry and also industrial insurers pay pretty well, especially in the field of underwriting and sales. Work Life Balance is much better than in investment banking.

  43. Bank Examiner fits this well. It's regular hours and balanced but just doesn't pay crazy. Absolute minimum starts at $60,000 a year though, which is still solid.

  44. Quant trading I think meets the criteria. U don’t work crazy hours and u earn more than banking. However during those hours, u are doing mentally strenuous and stressful work

  47. Jesus working 60+ hours a week is CRAZY. I’m in finance and I work 40 hours a week and sure I don’t make an INCREDIBLE salary but I make good money especially at my age (I’m 27). I graduated with a degree in finance and I would MUCH rather make less money and work 40 hours a week and have time to live my life. Work isn’t everything.

  48. Working 80-100h is absurd , the life you live is work and for what ? LoL trading time for a little bit more resources that will eventually pile up but aren't necessarily worth anything if you can't enjoy them.. by all means enjoy dude I hope you'll make it

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