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SkipE99

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whats finance industry job outlook there? i wouldnt need anything huge, just enough to get by… 26 yr old male, got about 4 years experience, BS, CFP, waiting to hear on level 1 CFA…think i would be able to land at least a 50 grand/year job or is it too competitive???? just looking for some info. and do not want anything commission.
any one got insight?
 
I am exactly one yr out of college (State School) working at a Mid Cap tech company in Silicon Valley making roughly 72K annually. I handle all the FX trading (roughly 900MM) as well as other duties in the Treasury department (Cash Mgmt of 1bln). I am currently studying for Level 1.
I’d stay the job market is pretty strong right now in the valley. We hire about 4-5 college hires a year. While it is competitive, there is always a need for finance/accounting majors with a solid GPA and a good vibe.
What was your major/ previous experience if you don’t mind? Financial Planning?
 
Have a Double Major in Finance and Marketing from Trinity University here in San Antonio (fairly decent private college). I interned with Morgan Stanley in school and landed a commissioned based gig with AXA Advisors after graduating. I worked the commissioned gig for a little over two years then was offered something better here in SA with one of the best financial institutions in the city. I obtained all my Series licenses (7, 63, 65, group one) and my CERTIFIED FINANCIAL PLANNER TM designation.
I find out in 5 days whether or not I passed level one CFA so am on pins and needles until then. I do a lot of asset allocation/investment recommendations and have experience in almost every facet of personal financial planning. Now I would like to transition over to corporate/institutional finance since that is something that has always interested me.
My wife and I are ready to get out of San Antonio and would like to move to San Fran/Bay Area while we are young and have no kids. If you think I got a shot with your company or have other advice, lemme know. I am all ears. You can email me at [email protected]. I appreciate your response. Good luck with the studying!
 
I’ve been looking for jobs in the Bay Area for the last 1.5 months since I took level 3. The market is not very good right now for entry +1 candidates which is probably what you’re looking at. I am getting interviews, but have been subject to a number of hiring freezes. All of this is colored by the fact that I am not a local candidate, so take it for what it’s worth. I think if you pound the pavement and put in a solid 1-2 months of effort you will find something. You might try to get a recruiter on your side.
Also, why only 50K?
 
Our Treasury group is pretty small and we don’t have a need for anybody else right now but there are always the corporate finance positions open (more accounting based - closing books, forecasting, controlling, etc…). Let me know if you are interested and I will pass your ressie on.
I also agree with bromion, wouldn’t sell yourself so short on the starting salary (might be discrepancy of living costs here vs Texas however)
 
I definitely agree with fxguy – you need to do some work figuring out what the cost of living difference is between SA and SF. In my case, it is 40-50% more expensive to live in SF than my current location, so I have adjusted my salary expectations accordingly. I don’t know how expensive SA is, but I would not be surprised if SF were at least 30% more expensive – 50/1.3 = ~38.5K SA dollars. That will not get you very far at all. Just something to think about.
 
well to be honest with you guys.. the goal is to simply find a way to survive in the bay area while i finish up studying for the CFA. i figured 50k along with whatever my wife could make means we are better off than us both working at baskin robbins.
dont get me wrong on the salary. i would love to make as much as possible, but i will not be that aggressive in job searching until i feel i am in competition with other job candidates. also. people have a tendancy to “hate” on posters who say they want to make a lot of money on this forum.
you guys ever pick up and move and do something crazy?? like travel around the world without much of a plan or just go where the wind takes you? that is something along the lines of what me and my wife wanna do. we realize we want kids in a few years and i realize that we wont be able to pick up and move somewhere “fun” when that happens.
i just want to survive and live as comfortably as possible near the bay area. my primary focus is still passing all three levels of the exam so that i can leverage my CFP/CFA combo as much as possible to get me into a higher paying job later in life.
i really appreciate your feedback. i am trying to learn as much as possible.
 
I think you are in a tough spot in the sense that CFPs typically go into longer-term sales type roles building books of business for themselves. Once you go down that line, it’s really hard to back out since you basically lose your clients if you switch to more of a CFA analytical type job. On the other hand, you may not have enough experience / credentials to get an analytical job now. I am not trying to discourage you from trying, but I would encourage you to develop your goals and expectations a little more before you do something “crazy and wild” and take any old job that pays 50K+ per year.
 
Here’s what I would do….
Move out here and get a Corp Finance job at one of the shitload of tech companies out here. Talk to a recruiter or headhunter. If you allow it, I will pass on your info to the next one that calls (recently about 3x month). I see articles about Global shortages is Accounting and Finance talent all the time so there is definitely a need for it. Play up any accounting experience you have.
Albeit you will be doing some shitty corporate accounting for awhile (journal entries, closing the books, forecasting spend) you will make no less than 55K base so roughly 65K after everything is said and done (stock comp, bonus, 401k match etc…) Also you will be working no more than 50 hours a week, allowing PLENTY of time for studying. I manage about 3-4 hours after work everyday. And if your lucky after a few years you might be able to weasel your way into the few cool jobs that exist in corp finance (FX trading, treasury, bus development, real estate)
Cost of living will be another thing. I only pay 700 but I have an unbelievably ridiculous deal going on right now. You should have no problem finding a one bedroom apt for you and your wife for about 1-1.2K per month.
To answer your question about doing crazy shit - Me and 5 good college buddies backpacked all over Europe for a summer (wen to Amsterdam twice, canyoning in the swiss alps, ran with the bulls in pamplona). So I think I can answer that question with a big hell yea.
 
sounds good fellas. fxguy 1234 after i find out about the level one i will likely get back in touch with you. amsterdam twice huh? yeah thats actually where i proposed to my wife. i think we would get along. ha ha. i appreciate both of your comments and Bromion, i appreciate your advice on developing my goals and expectations.
if yall have any more info, please dont hesitate to lemme know
 
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