Less discussed careers in finance

>>966095
>>966095
>they always just seem to refer to fields such as investment banking, trading, or private equity

its easy money, banks help schools, schools send kids to banks, banks can plot evil and kids get paid

>But obviously there are a whole other bunch of things you can do

this is more of an academic thing which is the opposite from ^^ with genuine interest in money, finance, economics etc. not just earning as dumbfuck, it will mostly pay less so its shown as something less, not the proper finance job, but you can do analysis freelance from your bathtub if you want

do you wanna make sick money or learn about the finance and die?

>>966123
>do you wanna make sick money or learn about the finance and die?

Why not both? I've seen job ads for Corp dev roles paying well over 150k

>>966157
monthly?

For context, I'm about to start as a banking and finance graduate at mid sized commercial bank. Over the next two years I'll be rotating through their finance, treasury and risk management teams, so I'm interested to hear from anyone working in those fields.

i belive the easiest way for normal people to get out of their mediocre lives and be rich is trading in equity markets for both short and long terms

>>966095
Say, can anyone fill me in the the more obscure parts of the financial sector? Here's my opinion on the ones I know about (currently a UK maths undergrad... first year).

General finance (assurance, audit, consulting, tax, etc) - I'd opt for avoiding it like the plague. If you go to any above average uni, you'll see the Big 4 advertising heavily, to the point where they're often voted the best graduate recruiters. It turns out that they're accepting applications from ANY FUCKING DEGREE. Let that sink in for a moment, it'd be hard for you to compete with people with finance degrees, but now you're having to compete basically everyone. Good fucking luck with that. To make matters worse, their intern turnover rates are over 90% and getting the internship is just as impossible as getting the job. So basically, I'm saying that mainstream finance borders on impossible.

Banking. Long story short, go watch a documentary - the whole sector is corrupt as fuck and it's extremely competitive anyway, while being insanely stressful and long hours, I made a bigger post to that shit guy who's spamming about how he wants to be an investment banker. I'll quote it since I suspect the mods will crush him soon.
"You don't want to get into investment banking. Go watch a fucking documentary on Enron, Bernie Maddoff or the global financial crisis. All investment bankers do is backstab people, including each other. It's human nature to overcome limits, like how you keep on bumping this fucking thread - the limits in the business world are capital, and regulations. So the top firms hire top lawyers and accountants and shit to cheat those regulations and sure - they'll get fucking rich, only to fall when they're caught or come the next inevitable rescission.

You cannot win, don't even try."

Obscure parts of finance (e.g. actuarial work, insurance shit) - that's my main backup plan, I'm looking to learn more, at least I'll only be competing with STEM graduates

>>966195
>>966680
Gotta love a board where people actually post "bump".

>>966095
I would like to see threads about wealth management. That shit is fascinating from the outside.

>>966891
well I know one Actuary, he seems very happy and gets to work fairly sane hours - he's also not restricted to only working in London (or NYC, HK etc.. if moving overseas) - he can realistically move to say the midalnds, buy a big house for the price of his London flat and still earn a six figure salary in a job that only really requires normal office hours and isn't too stressful but still makes him use his maths/stats skills

on the other hand I know quite a few people who work in middle office roles at banks, earn about as much as the actuary friend (low six figure sum) but work longer hours and are unhappy - the traders they wanted to be earn much larger sums than them, they're relatively low status in comparison despite bullshit job titles like 'vice president' (a title dished out to everyone in their late 20s/early thirties). They constantly bitch about pay, every time bonuses come around they'll have a big blow up with their bosses asking for more money - but because they don't directly generate revenue their bonuses are more down to office politics than actual performance. They're also stuck living in London and will barely be able to afford a house in some commuter town in future when they want to raise kids... (which will also add a long commute to their long hours).
Banks can be good if you land the job you want - if you want to be a trader and land a job as a trader and turn out to be good at it then you can earn millions... if you want to be a trader and you don't land that job you end up as a well paid slave, you still blow a ton of your salary networking with colleagues, you're still very well paid compared to the population in general... but it is meaningless.

Actuaries on the other hand have career progression built in (providing they carry on passing the exams) and tend to be well respected within the insurance industry. They tend to be happy.

>>966179
My nigga

>>968707
Sounds nice... I suppose my biggest fear with actuarial work is the exams. I mean, the people taking then must be mostly pretty solid STEM graduates, and yet some of the later exams have pass rates as low as 30%.

>>966095
Good thread. What are some jobs for people with a master's degree in Applied Mathematics and a minor in Mathematical Finance?

>>969217
...I see you posting that a lot.