Entry-Level Positions for Aspiring Analysts
James, a Principal Business Strategist, advises against back-office roles, deeming them "potentially a dead end," instead recommending entry-level positions in sales or as an analyst supporting portfolio managers. These roles, while challenging—"the amount of information somebody in sales needs to know...takes 'em years"—offer stimulating careers with "very interesting" people and responsibilities, and the opportunity to "be a consultant" to major clients like pension funds.
Sales, Financial Analysis, Investment Management, Client Consultation, Artificial Intelligence
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
James Wallace
Principial Business Strategist
Investment Management Co.
Hiram College
Not Applicable
Mathematics, Data Science, Statistics
Finance (Banking, Fintech, Investing)
Business Strategy
Video Highlights
1. Avoid back-office roles as they may limit career progression.
2. Prioritize sales or analyst roles to gain valuable experience and build your network.
3. The sales path requires strong consulting skills and deep industry knowledge, while the analyst path demands continuous learning and adaptation to AI technologies.
Transcript
What entry-level positions are there in this field that an undergraduate college student might consider?
I think working in the back office is potentially a dead end. The joke used to be, don't work in the mail room because you'll go nowhere. I think that's somewhat true in the asset management industry.
I'm not saying you can't escape, but that will put you many paces behind. So, focus on sales or focus on being an analyst that would work for a portfolio manager. If I were going into the stores, that's where I'd start.
Being in sales is difficult, of course, due to cold calling and trying to get a meeting. But the people they meet with in this industry are very interesting. I used to think salespeople just took people out on a golf course, got them drunk, and got them to sign on the bottom line.
It's nothing like that at all. They walk in there and need to be a consultant. You might be talking to a pension fund that wants to make sure their retirees do well. You cannot believe the challenging questions they get asked and the amount of information somebody in sales needs to know.
It takes years to be able to talk the game. Likewise, the portfolio manager path is equally challenging because you're competing against a lot of other really smart people. Nowadays, they're all even smarter because they're leveraging AI.
So, if you're going to go into the asset management industry, look at being a sales assistant initially. Look at being an intern as an analyst supporting an investment manager or portfolio manager. You'll be working really hard, but you'll have a really interesting career.
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