Significant Career Lesson from a Portfolio Manager at Private Bank
James's significant career lesson centers on the relationship between risk and return, noting that "you can go and try to do something really big," even if it fails, providing valuable learning and skill development. Patience and understanding that market conditions are temporary are also key, as demonstrated by their experience graduating into a challenging job market.
Risk Management, Financial Markets, Patience and Resilience, Career Transitions, Entrepreneurial Spirit
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
James A Vogl
Portfolio Manager
Private Bank
Iowa State University 2006
MBA, Ucla Anderson school management, full-time program 2013; masters of education at Millikin University, 2008
History, Art History
Finance (Banking, Fintech, Investing)
Finance
Video Highlights
1. Risk and return are related; high-risk ventures may not always yield high returns, but the experience gained can be invaluable.
2. Focus on your locus of control and what you can directly influence; external factors like market conditions are often beyond your control.
3. Patience and persistence are crucial in navigating career challenges; setbacks are temporary and opportunities will arise with time and perseverance.
Transcript
What is one lesson that you've learned that has proven significant in your career?
One lesson I've learned is that risk and return are related. What that means is you can try to do something really big.
This is because two things are internally related. You focus on your locus of control.
Risk and control being related means if you want to start a risky startup, you have a low chance of being extremely successful and a high chance of screwing up. I worked for four years at a startup that just didn't get off the ground.
It was still super valuable for me from a learning and growth standpoint, and I wanted to get my feet wet and be responsible for growing a new company. That was a ton of work, with a lot of sleepless nights.
I didn't get the big payout I'd hoped for, but that's fine because I have a really good skill set that can back me up. I was able to get a great job afterward.
Another factor is that things are highly dependent on when you graduate and enter the market. When I graduated business school in 2013, it wasn't a great year to go into finance. There weren't many great jobs.
However, two or three years later, the economy recovered, and there were plenty of good jobs. So, while this can be temporary, it can be hard when you see peers who seem to be on a rocket ship. Being patient, I think, is also part of that.
Advizer Personal Links
N-A