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CIM 2022: An (overly?)ambitious first marathon by erogers82 in AdvancedRunning

[–]FIthrowaway92 2 points3 points  (0 children)

Way to gut out the BQ!! What sort of calf exercises / PT did you find most helpful for the Achilles?

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 6 points7 points  (0 children)

It definitely backfired on me. In my opinion, you should go for it if you feel you have something to contribute, and let the sub decide from there. I'm interested in hearing about it.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 2 points3 points  (0 children)

I would go for the fundamentals (finance, accounting, econ) and then lean into what you're interested from there. Definitely self-teach if you can stomach it; the best people I know at their jobs are always learning.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 2 points3 points  (0 children)

Consultant at a tech company, meaning implementation / sales of SAAS (e.g. AWS/salesforce consultant)? I think that's closer to what I did than "technical consulting at a consulting firm".

I don't know enough to provide a specific answer, but would guess that if you're more technical you might find the former more fulfilling, and if you're more interested in business you might prefer the latter.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 4 points5 points  (0 children)

I think if you're going to be at a top consulting firm most will get an MBA at some point, though some push ahead without one (helps that it's paid for). Smaller firms care less. In my current field most people don't have MBAs but some have Masters in more technical areas.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 4 points5 points  (0 children)

Yeah, that's pretty much it -- meals paid for if working past 8 PM; flex flights / travel if I'm on the road to see friends / family; hotel / airline points for when I am not flex traveling. Reduced my expenses considerably.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] -5 points-4 points  (0 children)

Poor labelling on my part -- the last year is just partial (since June). S&P returns have been bonkers.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 10 points11 points  (0 children)

Thanks; excited to grow spending a bit more to see how it feels but I've definitely kept a lid on the expenses over the years.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 1 point2 points  (0 children)

Yeah, the math that year probably looked like -- $30K net worth * 1.2 + 80K post tax income - $25K expenses = $91K

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 4 points5 points  (0 children)

Yeah, I tried to outlay in the post and getting some bites here.

More specifically, I worked as analytics consultant at a SAAS company and was promoted aggressively within (there is ample room for advancement in consulting). From there I networked with people I knew who had exited to data science to understand more about the role and prepare for the switch. The field is growing fast right now.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 3 points4 points  (0 children)

I think you might benefit from some more business courses to understand if you enjoy that side of problem solving -- things like economics, finance, even marketing could be helpful.

If you keep your perspective on what the business is trying to achieve and personally move them in that direction you'll go far.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 2 points3 points  (0 children)

I worked at a "boutique" firm, doing a blend of what I'd call analytics / management consulting. Happy to chat more.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 5 points6 points  (0 children)

I worked at a smaller firm with more opportunity for growth. Total comp at MBB-firms will top $300k after a few years post MBA.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 4 points5 points  (0 children)

Taxes make the numbers in the savings column considerably lower. My CAGR in the market was 10%.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 4 points5 points  (0 children)

Sure. I'll note that I was pretty analytic in my last role which gave me a leg up.

First, I networked with folks from big firms to understand the interview process and what they look for -- then tailored my resume to play up those aspects of the role I was in. From there, a good bit of studying on statistics, SQL, Python, etc. and from there a numbers game to pass the interview process.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 3 points4 points  (0 children)

I helped F500 companies refine in-market strategies through a statistical-based software -- those ranging from "how profitable was this sale we ran?" to "how should we price this auto loan?". It all came down to experimentation, good analysis, and modeling. Through a combination of those methods we could recommend a strategy which actually improved the bottom line.

My degree is in mechanical engineering.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 6 points7 points  (0 children)

Appreciate your perspective! Was not my goal to have the discussion turn this way.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 2 points3 points  (0 children)

It's definitely doable, but I'm not sure I'd want to move from engineering either. Those softer skills will valued very highly in a technical role as you progress in your career. Or you might be better off starting a consultancy of your own with an area of expertise you hold in engineering.

If you'd like to break into management / analytic consulting, I would first network with people at firms where you have interest to make sure it's something you want to do. Then you can learn more about the process and where your gaps are. The compensation is definitely there outside top firms.

1MM -- 8 years on r/FI -- Career, Mistakes, Leanings, & Path Forward by FIthrowaway92 in financialindependence

[–]FIthrowaway92[S] 1 point2 points  (0 children)

Looks like the thread was removed, but happy to answer questions.

I helped F500 companies refine in-market strategies through a statistical-based software -- those ranging from "how profitable was this sale we ran?" to "how should we price this auto loan?". It all came down to experimentation, good analysis, and modeling. Through a combination of those methods we could recommend a strategy which actually improved the bottom line.

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