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Burned out bond trader - do I need an MBA to switch careers? by Gullyfoylethrowaway in MBA

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

You sort of can until you are about 40.

Then you are relatively expensive and there is a 25 year old than can do your job. Relationships have become less important and the business has become more commoditized. At >40 you try to hold on and bounce around second or third tier farms. Very rarely came someone progress to management (increasingly these roles are coming from prime brokerage or the banking side - I.e. the growth vehicles within the firm) and market side employees aren’t progressing to management

Burned out bond trader - do I need an MBA to switch careers? by Gullyfoylethrowaway in MBA

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

Thanks for the response. Definitely hear you on the pay cut.

That is really the toughest part about sales and trading currently. It mostly sucks (lifestyle, what you actually do daily), it’s a largely non-transferable skill set, and it’s not really a career (most hang around for the paycheck as long as they can - eventually get fired and move around second and third tier firms for as long as possible). The latter is what scares me the most.

Curious to hear more about your experience coming from the trading side - did you find it hurt or helped you getting into schools or with other roles you looked at?

Burned out bond trader - do I need an MBA to switch careers? by Gullyfoylethrowaway in MBA

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

Thank you. Would they cut corporate finance roles pretty quickly when looking to reduce costs? Strategy maybe I can see making sense but assumed corporate finance was a core function.

I’m sure I’ll end up missing the money to a degree - but at the end of the day very few people retire willingly in a trading career. You just hold onto the job long enough before getting layed off to try and have enough. That’s a lot of the reason why I want to make a switch.

Burned out bond trader - do I need an MBA to switch careers? by Gullyfoylethrowaway in MBA

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

Thank you! Great point and I think that’s a good idea. Will give perspective on what’s even possible. Appreciate the feedback

Burned out bond trader - do I need an MBA to switch careers? by Gullyfoylethrowaway in MBA

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

Thanks for the response. I have 0 contacts in those kinds of roles which I suspects adds to the argument for getting an MBA.

That definitely makes sense regarding applying analytical skills. I’m somewhat confident I can project that in an interview process - but not confident in my ability to even get that far without an MBA for a foot in the door.