Should I take the job?

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Gefvert

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Securities Lending Assistant for Short-Term Money Market Portfolio Manager. Daily reinvestment for a $6+ billion outstanding Securities Lending portfolio. Assist in the development of income projections as well as management reporting.
Candidate should possess a good working knowledge of Money Market products and short-term cash investments. Operational background of money market instruments and settlement. Proficient in spreadsheet data processing. A good understanding of the trends and influences in the money market sector. Ability to independently resolve complex trading and operational issues. Excellent verbal and written communication skills. Proven relationship management experience.
A financial or economic education. Proficiency using Bloomberg and other financial software tools is preferred.
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This position is in San Francisco, pays $60k. The recruiter said they’ll probably be interested in hiring me because I passed the CFA Level 2.
However, he also said that he didn’t want me to use the job as a stepping stone, but to commit to working for a number of years. He said the last guy at this position only stayed for 10 months and left because he said it wasn’t what he wanted to do.
Managing a money market isn’t really something I want to do forever, I was looking for a job with a little more flair like equity valuation, but do people often lie and say they will take a job for long term even though they plan on jumping ship once they get the experience and find something better? I’m a pretty stand up guy and like to be upfront with what my plans are, I dont’ like misleading people.
 
Sure take it, Dont worry there is really no loyalty and dont let anyone make you feel bad for leaving. Hell do you think a company would think twice about firing you in bad times? You can’t be that nice/naive you gotta get whats yours….
 
So you advocate lying about your interest in the field just to get experience? Seems kind of dirty but if everyone does it I guess it’s not too far below me to do it.
 
how can they have that expectation from a guy who is a level 3 candidate, obviously you can’t stay in a position like that.
This position would be great for someone who dosn’t have much ambition, but they probably wouldn’t hire them anyway, instead they hire people who are overqualified and will jump ship given the op, why do companies do this?
 
Would say probably not. After you pass L3–what then? So by this June or next, you would have a CFA and little tenture, Overqualified and underpaid. Then looking for a Job again? Find what you want to do now. Don’t wait.
 
60k in SF doesn’t take you all that far, especially when you’re running with the finance crowd. Sounds to me like they want your CFA knowledge thus far, don’t want to pay for it, and want you to stay for years and years once you have passed L3.
 
Bank of America just cut 3,000 jobs from its IB unit and your stil thinking about loyalty????? and employer doesnt hesitate when it comes to firing people to reduce cost. why should you give up your ambitions and better opportunities for someone who does not really care about you in bad times?
 
Thanks for your input guys.
How I understand it is the position would allow for lots of advancement, once I paid my dues I’d be promoted and eventually run a couple billion dollars myself. That would be an appropriate position for a CFA.
But like I said, I didn’t go thru the CFA program with plans to run a money market, and I doubt anyone really does. That’s part of the reason why the recruiter says it pays $60k, which is more than most entry level positions.
 
G-You just answered your own question:
“I didn’t go thru the CFA program with plans to run a money market, and I doubt anyone really does. That’s part of the reason why the recruiter says it pays $60k, which is more than most entry level positions”.
“How I understand it is the position would allow for lots of advancement, once I paid my dues I’d be promoted…”
–That’s called the corporate latter. If you pay your dues anywhere…you will be promoted.
You work long enough at the drive through at Burger King…you can become an assistant manager. It’s moot point.
 
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