TC 130k / Yoe 4 / Low COL city This year raise got affected by COVID, expecting 150k-160k with next promotion around year end. 4 years of credit risk strategy in non-bank consumer lending with 1 year of people management experience. In two words we build strategies to decide who will get approved for a loan (amount, term etc) and manage exisitng portfolio risk and performance. Everything is data driven, you need to know how to code to get in. Tech skills SQL, SAS and Python. Looking for advice on where to go from here. Not interested in going into Data Science becasue I really enjoy to be on a business side and be involved in decision making, leadership meetings and interactions with third party companies. Interested in many aspects of finance and especially how it merges with technology. Alternative finance / fintech is where i spent my entire career which is fast paced and comes with decent workload (50–70hr weeks). What are potential exit opportunities besides credit cards or lending in the banking world ? Are there better opportunities in tech / fintech (paypal, google, affirm etc) ? Was thinking about continious education and studying for CFA or FRM if it can open interesting opportunities. Really interested to hear from the community. Was actively looking for mentors from outside of my company lately. Concentrated on long term opportunities rather than short term gains. Had a few conversations with companies from Bay Area and NYC (including one boutique firm) but haven’t started interviewing yet. Thanks!
Spend sometime in operations. Its a different world to actually see the strategies you built are being executed. Plus side is you can get alot more people to manage in that area which can aid in boosting your leadership skills. Another avenue is Audit. You will get to learn about regulatory affairs, different lines of defences and working across different departments.
Why are people talking about managing others at 4yoe? You have more foundational things to focus on
Not sure about Audit function. We have to work with Governance and Audit periodically and it’s not something I would not personally enjoy. What do you think about portfolio management and investment side of the business, do you think it is possible to transition ? Management is something that I asked for to get a seat at the management meetings and to listen and learn from people about corporate strategy. Still fully hands on, it was something extra to start developing new skills.
What foundational things
You can semi lateral into other analytics roles, though they’ll often be more bloated with SQL and experimentation. You’ll also need to brush up on statistics. West coast isn’t a fan of non-eng people manager development if you’re into that. It’s more oriented on execution, with bottlenecks in moving from IC to a manager role
Expecting a 15-25% raise while staying with the same company can be construed as ambitious. Unless you’re including bonus, but I think you meant just the base
Just for curiosity, if one does not have strong technique skills, how is it possible to “merge with technology” ?
There are a few free (e.g. w3school) and several paid resources (e.g. DataCamp) that would get you started with base level and some hands on experience with SQL , R , Python but you will need to get on the projects to keep it going. By practicing you will learn more especially at the beginning when you will have to google and read a lot. On top of that you will need to read some books to learn more about data and stats. It all depends on where you want to go.
Just out of curiosity OP, what did you do?
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TechLead: Why so many layoffs
If you're that early in your career, anything can be an exit opp lol
4 yoe is early?
Nobody's gonna hire 4 yoe at a manager level anyway so you might as well think about your core competencies and apply that to any number of industries