What a Principal Business Strategist at Investment Management Company Wishes They Had Known Before Entering the Investment Management Industry
James, a Principal Business Strategist, reflects on a common industry adage: "if you wanna make money, you either sell it...or make it, but you don't count it," wishing someone had highlighted the more engaging aspects of investment management—analyzing "economics, changes in the industry, social dynamics"—instead of focusing initially on "automating tasks" and technological roles. The interviewee's path reveals a preference for the intellectually stimulating challenges of portfolio management over the less captivating aspects of data processing.
Finance, Investment Management, Economics, Portfolio Management, Business Strategy
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. The most lucrative career paths in finance involve either sales or product creation, not accounting or administrative tasks.
2. A career in investment management involves a diverse range of skills and responsibilities, including economic analysis, industry research, and social impact assessment.
3. Starting in a more analytical or research-oriented role within investment management can be more rewarding and engaging than starting in a purely technological or administrative role.
Transcript
What have you learned about this role that you wish someone would have told you before you entered the industry?
I like this question. In industry, there's a rule of thumb you've probably already heard: if you want to make money, and money is one way people keep score, you either sell it or make it, but you don't count it.
So, go into sales or create the product, but don't be an accountant. The first two are more interesting: being in sales is interesting, and making the product is interesting. Counting it is not that interesting.
I wish someone had told me that when I started. I began by helping the organization do rote work, automating tasks, and creating spreadsheets.
Over time, I learned that portfolio managers, who were trying to figure out how to invest money, had challenging but fascinating jobs. They looked at things like economics, changes in the industry, and social dynamics, such as how well a company is governed. I wish I had started down that path instead of being a technologist.
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