I currently work in a very small company in a very small niche field in finance, using mostly Excel. I don't consider the knowledge I have in the field very transferrable. 7YOE and TC of 250k. I have a masters in FE, but never did programing out of school. Most of my colleague who left my current company went into banking. I'm considering my next career move and need suggestions. Here are what I think my options are: 1, stay at current place: it's a relatively comfortable environment. People are decently nice. TC will likely to be capped at 500k eventually. 2, go into banking: More money for sure, but worse work life balance. 3, ??? I'm taking programming classes but I don't think I will want to go into a mostly programming position as my background will never be able to compete with CS folks. Any ideas will be helpful thanks!!
I second doch5. Go deeper in your domain.
I've worked in Finance and tech myself but it's so hard to cross over to tech only and you're already making sooooooo much money (even though you might not think so)...don't mess it up. Maybe think about it after you come back from maternity leave
I always feel like it's not quite enough money that I'm making. It's not bad, but not quite enough. And the other thing is my current company's benefits are not good either. Maternity leave is state required minimal. No dental or eye insurance. WFH counts as partial day off and etc. I won't be shooting for a pure tech job, but I should be able to handle a little fintech.....
I understand. It's hard to get in. What you can try is trying to get in through a temp agency and wiggle yourself through that but that's a bit risky but can get you in
Stay where you are. You have a sweet deal. 250k is quite decent and the prospect of 500k very solid.
Don’t know what type of work you do, but here at Prudential we just introduced 10 weeks of parental leave. That’s for moms or dads. Something to think about. I have two kids both born while I was here, that’s time you don’t get back!
any jobs start off with 200k?
Not really any way I can answer that, this is a huuuuuge place.
Your TC is a quarter mil and you say that isn't enough? You basically just answered your own question. TC is irrelevant. If you want more, what makes you think after you get the other job you wouldn't want more again? Would you risk sacrificing work life balance for just an increase of TC? If higher TC is more important than your work life balance, I say go for it. If you haven't started a family yet, take risks and see what's out there. It's a 50/50 chance to be honest. Either will be better than your current job, or worse. Regardless of what you decide, I would still suggest you keep learning new skills. Never get too comfortable in one place, and always train your mind to learn new things. If a recession hit and there's major lay offs, will you be able to get another job with the same or higher TC with your current skillset?
well, I don't know your situation and all, but for me, 250k is tight. I don't think there's anything wrong with wanting more TC and a reasonable and flexible working situation. Given how many kids nowadays with 2YOE and making around my TC, I think it's more than reasonable for me to want more.
The way I see it , you are into analytics. Programming will definitely help you to get on that data analytics wagon. Lot of cool stuff and extensive support around how you can put in less effort to analyze data using ML tools.
thanks!
"using mostly Excel" making 250K .. wow! I want this kind of job too..
Same here!! 😂
my colleague who just left and went to a bank uses excel and ppt mostly and makes 30% more....
FE as in financial engineering? If you were able to complete a FE degree I’d just stay in that field. FE is much better than a software engineer and earn much more too
yes, financial engineering. But my current position doesn't require anything from my degree. Thats why I'm taking programming classes, just so I get a refresher, so I can be marketable in the somewhat quant but not hard core quant field...
Which niche field? 250K is great.
Don't go into programming. After 7 years it is better to go deeper in your specialty. Wlb is the necessary sacrifice for higher TC, be it programming or finance
I'm not planning on being a hard core quant or programmer. I'm thinking more in line of product manager or portfolio manager. I have no problem working hard. I average probably 10 hours a day at least. But my current company is very much against working from home and my husband and I are moving out of NYC because he likes suburb and we are thinking of starting a family, so a bit more flexibility on that front would be good as well.
Lot of banks nowadays are open with work from home options, so you should try one of the larger banks