Back Office Careers

The biggest problem with bitter people in BO, is that the longer you stay there, the harder it is to get out. Obviously, people don’t want to give up a steady job ( without another job lined up ) but what happens is that people get too comfortable, and drag out their time in BO. 4 years later, you’re stuck and f*cked
 
greengrape Wrote:
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> There are 2 kinds of people in Back Office
>
> 2) Bitter, hates back office. Trying everything to
> learn something useful and get the hell out into a
> front office job where you can strike it big and
> really live it up. gorden gekko style. models and
> bottles.
models and bottles…that was the lamest video i’ve ever seen in my life
a. that kid has a standard boxster, which you can buy for like 20k a few years old
b. the girls werent even attractive
c. he was just a loser
 
guys
i am in the number 2 category (unfortunately) as mentioned by green grape. its a valuation control role wherein I review valuations of the trader’s book and also review any complex deals on an continuous basis. hour are crazy but pressure is so so. work in HK, have an MBA and am a CFA charterholder. make around 125k us$ (lower taxex in HK but its as expensive or even more when compared to NYC). its a BB ibank.
have been trying like over past 2 years to move internally but its so difficult even here with this osrt of job market. have been in backoffice for 5 years but havent given up the aim to move to front-office. my batchmaes with similar or less capability are making mch more than me…….
anyways………i hope one day i can right some +ve news about my career move…..
money is ok here but its just not the investment banking enrvironment (risk +return) one would aim for
 
im in mo (have been for ~3 years) and have been in 2 bo roles and i hated both passionately.
bo is great for people who just want to come and punch in and out and don’t really care about what they’re doing. they get all the benefits (vaca, 401k, corporate presitige, etc.) without any of the stress. i think its a great job for moms, very family-oriented people and people who have zero people skills.
 
greengrape Wrote:
——————————————————-
> There are 2 kinds of people in Back Office
>
> 1) Happy. Enjoys a good work-life balance. Likes
> the good job security, relatively stress free, no
> investment risk to worry about. Has a family +
> kids. Not making the big bucks, but just fine with
> making a decent career. slow-and-steady.
>
> 2) Bitter, hates back office. Trying everything to
> learn something useful and get the hell out into a
> front office job where you can strike it big and
> really live it up. gorden gekko style. models and
> bottles.
ooh, gorden gekko style
 
greengrape Wrote:
——————————————————-
> There are 2 kinds of people in Back Office
>
> 1) Happy. Enjoys a good work-life balance. Likes
> the good job security, relatively stress free, no
> investment risk to worry about. Has a family +
> kids. Not making the big bucks, but just fine with
> making a decent career. slow-and-steady.
>
> 2) Bitter, hates back office. Trying everything to
> learn something useful and get the hell out into a
> front office job where you can strike it big and
> really live it up. gorden gekko style. models and
> bottles.
Absolutely true.
 
I’m in mid office and would LOVE to have a BO job that pays $120k/yr working 30 hours a week.
 
Sombrero Wrote:
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> I’m in mid office and would LOVE to have a BO job
> that pays $120k/yr working 30 hours a week.
no sht - my first bo boss worked 10-“4” everyday and cleared at least that much with 30+ pto days.
 
pennyless Wrote:
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> I am just wondering if banks are fine with people
> being stuck in one position and not tell them to
> move on to find another job.
One of the stupidest things I’ve read, and one of the more trivial things to be concerned about.
 
defone Wrote:
——————————————————-
> pennyless Wrote:
> ————————————————–
> —–
>
> > I am just wondering if banks are fine with
> people
> > being stuck in one position and not tell them
> to
> > move on to find another job.
>
> One of the stupidest things I’ve read, and one of
> the more trivial things to be concerned about.
It’s a norm in consulting firms that if they don’t promote you in a number of years, they will tell you to move on and find another job. It has happened to a couple I know. I asked because I don’t know if it’s true in banking.
 
pennyless Wrote:
——————————————————-
> It’s a norm in consulting firms that if they don’t
> promote you in a number of years, they will tell
> you to move on and find another job. It has
> happened to a couple I know. I asked because I
> don’t know if it’s true in banking.
hmm I don’t think so. if you are meeting your sales/utilization levels in consulting, they are happy - - I think your friends may not have been pulling their own weight.
 
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