I'm also interested in this. Have a bump.

Bump!

>>33682534
if you're not (either)
>a top math guy
>connected with good firms
>jewish
you're going to have a hard time

>>33686584
What kibd of math are we talking about? Because engineering math is much harder, isn't it?

Bump

Kek, all the finance bros are in /biz/ scamming each other

Bump

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>>33682534
>Does any of you work in finance?
No, but some of us does speaks the good English.

>>33682534
Switching from cs to finance cuz it’s brutal. My advice is leave this site and normiemaxx cuz finance is full of npc’s

Friend of mine when from drug dealer to banking lawyer for a huge firm. Finished his degree and replaced drug abuse with a 60+ hour work week. I mean he makes triple what I make but I'm extremely worried he'll burn out eventually and go full coke fiend because he'll have the bank roll to support it

>>33691328
*Do
Happy now?

>>33691342
>Switching from cs to finance
Are you studying or working right now? Have you thought about fintech? Where both finance and cs collide?
>finance is full of npc’s
That's impossible, what do you mean? In investment banking for example, people work there all the time, one has to be insane to do that, which doesn't make them an NPC anymore

>>33691355
Did he do a law degree or a finance degree for that?
Yeah I suspect those overworked people take drugs too to compensate for the abnormal workload required.

>>33691621
Switching courses, I’m a neet student
>That's impossible
Not really, if they have a gf/wife or can pull girls to hook up they’re a normie npc and not a truecel like me

>>33691938
Ohh, your definition of NPC includes all those who cn pull tail... That's a rather broad definition of NPC that you have then.
Well I hoope the change works out for you. Will you then quit 4chin for good ?

>>33692042
I’m a partimer now anyway, I’ll come around when I’m really bored

>>33692128
Gotcha

You are working at a local bank unless you go to an ivy

>>33682534
1. If you don't go to a target school and get an internship, you will never get into investment banking. If you don't do this, finance is worthless.
2. Get a CFA as cope for #1, before you graduate, to have some sort of chance.
3. Finance is a dead career. It died circa 2008. Much earlier really, but that was the nail. You are literally 2 metas behind. Now code is dead too.

>>33686584
> math
Very few people get quant jobs. It's a completely different path that's math (competition winner), HEAVY stats, and actuarial. Can go actuarial exams route at that point and mix with classical machine learning.

>>33686604
See above. Engineering is easier, but most finance people (even the ones who land jobs) know basic integration/derivatives at most and almost never use them.

>>33691342
See above. Two metas ago.

I will answer any questions about finance, accounting, CS, ML, drones, and tangential topics.

I absolutely do NOT know what the next meta is. Without knowing the meta, it's ruff for you little furries unless mommy and daddy pay for med school. Surgery seems to not be getting nerfed with all the patches.

>>33692159
>a local bank
As opposed to what, some finance firm like Goldman Sachs?
Either way, that doesn't sound so bad though, what if my local banks are prestigious?

>>33692169
Your local bank is not going to pay shit. You are going to make what a fucking engineer gets paid, larp wallstreet, and have 0 career progression because you don't do anything that is in any way not solved. I am: >>33692168

>>33692168
>Finance is a dead career.
>Now code is dead too.
Why?

>2 metas behind.
What does that mean?

>math (competition winner)
What is math (competition winner)? Do you mean "competitive"?

>(even the ones who land jobs)
Are you implying finance people don't even get employed?

>basic integration/derivatives at most
Is that harder than engineering?

>>33692176
Lots of people get paid six figures for doing stuff that is already solved though

>>33692168
>with all the patches.
What are you referring to, AI?

>>33692219
Every time period has a career where the intelligent, ambitious, pleb can get theirs. This is the time an industry is being built, sees a lot of growth, and requires people to rapidly adapt. This is a stage where you can't just hire your son, because there is actual work that needs doing and it requires more than a lukewarm IQ. I am actually not a woman-hate poster, but this is also when you see no women in the industry.

You can thinking of these industries as the age of sail, the trading companies, the railroads, the factory automation (Ford) period, and the mechanical / aerospace engineering era when the internal combustion engine and airplanes were just being created and massively built. That's where the engineering meme actually comes from.

Then we had finance - new financial instruments, democratization of stock trading (with the pleb not understanding what it is), etc. Now all of it is standardized - there is a 401k/ETF pipeline of inflows that most of the population doesn't question. Going public, record-keeping, etc is all highly refined an automated. You see women as Series 7/63 "brokers" at Fidelity, Schwabb, Etrade, etc. The industry is ossified, the players are established, there is no competition, growth, or innovation.

Likewise - tech had its boom - every corp has a website now. They have DevOps. They have a cloud. They have a team structure. There is just maintenance in the classical development space.

>What does that mean?
Meta is the current best way of doing things. In the context of conversation that's "the best career to make money".

> What is math (competition winner)? Do you mean "competitive"?
Competition winners tend to be at the top of their field. They are usually "competitive' within the field, yes.

tbd

(cont.)

> Are you implying finance people don't even get employed?
You get employed. As a teller in a Fifth-Third branch, as a Series 7 customer service rep wearing a suit with a "VP" title making $60,000, as paper pushers in a standard "risk" department where you buy standard hedge instruments and do no thinking at all.

CPAs still get employed as auditors at the big 4, and that's not going to be automated away. CPA isn't finance though.

>>33692226
1. Those jobs are usually via connections, because you don't need a smart person and there is no way to stand out. You are never getting promoted, because your skillset never matters.
2. Six figures doesn't mean shit anymore. $100,00 is a baseline salary for any professional that's actually employed. If you are happy with that, go for it.

When people think "finance", they think $300,000 within a year or two and over $400,000 mid-career. If "finance" means giving out loans to grandma at a PNC branch and making $80,000 - yea, sure.

>>33692231
Iykyk

>>33692247
Last - this also happens before an industry has a degree pipeline established. Tech & finance would be dead even if there is work, because these are fields everyone is still going into. There are far more graduates than jobs, and it's a basic supply > demand issue.

AI Phds made several million a year for a while because they got into AI before there was demand, and there were so few of them and demand far exceeded supply.

Again, neither I (nor likely anyone), knows what the next hot field is. But the take away here is that it's definitely not fucking finance. Finance is top 5-10 TARGET school in the world or bust.

>>33692247
>That's where the engineering meme actually comes from.
What meme was that?

>democratization of stock trading
What is that?

>there is a 401k/ETF pipeline of inflows that most of the population doesn't question
Should they question it?

>there is no competition, growth, or innovation.
What about the appearance of AI, wouldn't there be another growth now?

>$100,000 is a baseline salary for any professional that's actually employed.
Maybe for professionals with at least a bachelors degree... What's your definition of a professional?

>When people think "finance", they think $300,000...
I thought at least $100,000 and up

>Iykyk
Do I know? What do I need to know ?

>>33692321
>for a while
So, not anymore?

>basic supply > demand issue.
As long as there is an economy, there will always be a need for finance workers though, plus each year the oldest workers get retired too, making space for new workers to get into

>the next hot field
My guess is advisors or specialists, since humans want clarity and trust from real people.

I see, so to you, if a career isn't at the absolute pinnacle of making money in the entire world, it's worthless. Interesting viewpoint, I wasn't even thinking of aiming for the top highest paid career ever... I just thought finance sounded cool and sexy, and wanted something that pays six figures and the prestige and status... But now you just opened my eyes, haha. Thanks
May I ask what career you picked?

>>33692452
> What meme was that?
> "Math, engineering, 100k starting"
(from back when 100k was real money, aka 20 years ago)

> What is that?
Any retard can set up a Robinhood account in 5 mins. You used to HAVE to call a stock broker. That created demand and made the career prestigious, the Series 7/63 people were REQUIRED to trade. They aren't now.

> Should they question it?
Yes, a lot of 401ks don't beat inflation and the tax deferment isn't always the best way to go, especially if there is a low employer match. They also see the 40k -> million projections and don't understand that this doesn't account for inflation.

> What about the appearance of AI, wouldn't there be another growth now?
I don't understand the question. There will be minor growth in using AI for optimizing trading strategies and customer service, but it won't create high-paying jobs for anyone except people who write models. Aka .0001% of people in the industry.

> Maybe for professionals with at least a bachelors degree... What's your definition of a professional?
A bachelor's degree in a profession that's actually in demand and well-paid.

> I thought at least $100,000 and up
Do the math on the take-home from 100k and then look up studio prices in Manhattan.

> So, not anymore?
It's still going, but it's going to go down as more people enter the industry and the fundamentals are built out. If you started school with the goal of an AI phd, the jobs won't be there by the time you get out.

> As long as there is an economy, there will always be a need for finance workers though, plus each year the oldest workers get retired too, making space for new workers to get into
Again, for teller / branch plebs.

> I see, so to you, if a career isn't at the absolute pinnacle of making money in the entire world, it's worthless
Right, we view this a bit differently. I am glad I helped.

I have degrees in finance, stats, and accounting. I am a CFA. I switched to Cloud Architecture at some point.

>>33692500
>look up studio prices in Manhattan.
Yeah they're high of course, I didn't know we were only talking about residing in Manhattan. Then yes, that $100,00 is relatively low.

>I have degrees in finance, stats, and accounting.
Did you do them at one of the top 10 finance schools in the world? And are they all bachelors or did you do a masters or even a PhD too? If those are even necessary.
And may I ask how much your salary is? Or did you start your own business? I heard doing clientele finance career (private banking, wealth management, relationship management, financial advisory) can be extremely lucrative once you have a big enough client base, while mainly only doing maintanence, what do you think about this career chioce? Because there's no way AI can replace that human touch

>>33692554
> Did you do them at one of the top 10 finance schools in the world?
No, and that's why I left the field. I tried to cope with CFA at 21, but it only gets you so far.

> And are they all bachelors or did you do a masters or even a PhD too?
All bachelors degrees. Half an aerospace engineering degree before I pivoted too.

> salary
My mommy buys me tendies sometimes.

> I heard doing clientele finance career (private banking, wealth management, relationship management, financial advisory) can be extremely lucrative
This is a Series 6 career. It works likes this: You get your series 7/63 and start at Fidelity / Schwab etc on the phone doing account management. Within 6 months you move up to trade ALL products. You then (or in parallel) get your series 6 and get a sales job, where you are commission-based, but still in a call-center. You don't earn much and your commission is low.

7/63 is a $60,000/year job and it's all rich kids with connections and trust funds who LARP finance. You might get it if you are lucky, but I liked to remind co-workers that garbage men made more than us.

Anyway, sales is competitive, but doable at call centers. You also want to get a CFP at this point - this is an easy advisor-retard cert. Not CFA/CPA level by any means.

You then need to get a branch sales job where you can make up to $400,000 a year. This is a high-stress, retard-tier sales job that requires no knowledge or understanding of anything. These are RARE and connections only. You might get it without connections if you are the #1 salesman for a major corp in the country from a call center.

Ama, I did all of the above, but the tldr is you won't get the branch job and you will go work at a bank branch ($80,000 average, no growth) or stay in the call center, same average.

Btw, you could then go into private wealth management (which is complete bullshit sales), but that's even more conneciton-based than major corps.

>>33692600
(cont)

CFPs / advisor roles are chill and make 80-120k, and anyone but grandmas know you are worthless, but it's close to what you are looking to do.

If you go this route, get your CFP while in college and intern at Fidelity in the summer

>>33692600
>I left the field.
So what are you doing now?

>but it only gets you so far.
Wtf, why is there such a University bias? And are those graduates of those top 10 schools really getting better employment chances and paid highly?

>My mommy buys me tendies sometimes.
I will interpret that as very rich haha

>$60,000/year job and it's all rich kids
Lol, I thought the rich kids would at least get a better pay, but I guess their allowance makes up for it

>branch job
What branch, you mean one of those top 4 finance firms? And what about working in corporate finance? Isn't that respectable and well-paid? Well, probably not six figures, for entry-leve, at least.


>(which is complete bullshit sales)
Meaning you sell stuff for a ridiculously high price?

>>33692603
Hmm, I'm not really sure what exactly to do yet. I actually wanted to get that banking and finance degree in order to get a finance-related job in Singapore, because I want to emigrate and live there. Maybe I'll even need a Masters's degree, but I don't want to wait any longer.
I could maybe move there now too, but without any University degree I'd either get no or only the shittiest of jobs. What do you think of this plan?

>>33692740
*finance job in Singapore

>>33692740
> Wtf, why is there such a University bias? And are those graduates of those top 10 schools really getting better employment chances and paid highly?
If you take nothing away from this conversation, take away that you either go to a top 10 school, or your chances drop literally 10,000 times

You can jump to 41:33 here and watch for some other stats, but basically target school is everything in the US: https://www.youtube.com/watch?v=JU_8fJjtGxA

As to why - long topic, but basically, the rich families gotta stay rich while pretending it's merit based.

> What branch, you mean one of those top 4 finance firms?
Physical branch buildings for Fidelity, etc. There are like 5 people working there and the 1-well-paying job out of those 5 is extremely rare.

> Isn't that respectable and well-paid?
Re-read my answer if you want. These jobs are connections only. The job (call center sales) leading to it is also heavily connections paid. As far as respectable - depends to who, to idiots yet. To people who know it's just sales, not really, but $400,000 is a lot of money. The point is that you are not getting that job. Also, if you don't sell x, you get kicked out, it's very high stress. Understand that its 3-tiers of connection-based advancements that just won't happen for you.

>Meaning you sell stuff for a ridiculously high price?
Meaning you move huge dollar amounts so your commission is very high.

> finance-related job in Singapore
I don't know anything about the finance scene in Singapore. Don't move there without a degree though.

>>33692838
Also, your chances for a top 5% salary drop 10,000 times*

Again, if you just want to make your 80 - 120k, you can do that with some random-ass degree from some random-ass university. But again, people don't understand how much inflation we have had. Do the math on your take home after taxes, 401k (if you plan to use it), health insurance, dental insurance, SS, etc and then take away rent / food even in a flyover, and it's not a good look famalam.

>>33692600
>I tried to cope with CFA at 21
Maybe if you had been older, they would have paid you more? Or would the difference not have made much of a difference?

>>33692838
>video
Very interesting video, I've never heard of this stuff before, interesting. Does this also count for Switzerland? I'm not from the US.

>Don't move there without a degree though.
Gotcha.

>>33692850
Damn. It's really not that much.
>SS
Does that stand for safety stock or something?

>>33692850
Thank you for your answers, by the way. It was really eye-opening. Truly.

>>33692231
No, immigrants and outsourcing

>>33696276
Damn. But imigrants and outsourcing don't guarantee the quality remains the same!

>>33696320
No, they guarantee quality changes inversely as they increase!

>>33697225
Short term profits leading to long term suffering... Why are the leading people so retarded?

Great thread, very high IQ, genuinely