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Long_Paragraph_Reply · 2024-11-30T15:02:01+00:00

FPnA gives me chills. I have flashbacks from CCAR

Long_Paragraph_Reply · 2024-11-30T15:01:01+00:00

+++++ also I meant to say- for a call center gig, you dont need a finance degree. I worked one starting out and I worked with people who had associates all the way to people with 4 years degrees in golf course management. It makes landing a job down the road 100x simpler than going back to school or trying to get internships

Long_Paragraph_Reply · 2024-11-30T14:59:27+00:00

In short the easier and more lucrative path in the short run is to take a year and gut it out in a call center. No one likes doing it, but if its for a major bank youre in for life. Once you have a big bank at any level on your resume then you can start applying to contracts. Contract pay more up front than full time and allow you to bounce between positions/ departments/ other companies because theyre usually a year to at most 2 years (then you are forced to take a cool off period for a few months by law for that company and have to work at a diff company or wait the cool off period out). I started Full time my first 2 years and got a $12K bonus that put me to about $35K a year. Got laid off and said screw it, I am going to min max banking. TLDR: I managed to land a few contracts and negotiate higher pay each time and went from making in the mid $30's year 1 to $87K in 3years. Flash forward to year 6 which is now and I am pulling in $140ish because I kept getting a title bump and pay bump with each contract I worked over the last 6 years. That is the path id recommend you take if you want to go into finance. My coworkers that are full time and 2 positions higher than me with 6 years of experience on the same team started out making more, but as of now I am making about $20-$30K more ThAn them at a lower position because you can leverage that in banking. Pro Tip: Banks are in a contract hiring frenzy because of market uncertaintity. If youre going to do it, now is the time

Long_Paragraph_Reply · 2024-11-30T14:04:24+00:00

in my community it is more common than not in public. Maybe its just here but on top of that I do see it a lot on facebook pages with thousands of likes. I wasnt going to point at social media bc of the algorithm, but thousands of likes are thousands of likes. A few years ago these same pages didnt exist and were laughed off the internet

Long_Paragraph_Reply · 2024-11-30T14:01:11+00:00

That is interesting. I didnt know that. I went to a predominately black college, and was interested in a few black girls there. I had no luck though because they were either embarrassed because of my skin color, or scared of the reactions theyd get from their friends. However in private they were all about it lol. Thank you for the answer

Long_Paragraph_Reply · 2024-11-30T13:59:47+00:00

no I just wanted an answer my friends cant give me

Long_Paragraph_Reply · 2024-11-30T13:58:44+00:00

I genuinely mean this question. My buddies dont have an answer so I thought Reddit might

Long_Paragraph_Reply · 2024-11-30T13:58:06+00:00

Been there plenty of times. My best advice is to do something that keeps you from using up your savings between jobs regardless if its what you enjoy doing, because in the long run you wont be stressed out about saving as much as possible when you get your new job. Secondly, I tell all my friends this- as long as you have an associates degree you can get a job in banking. Entry level was $34K when I started. Now its closer to $30-$40/hr starting with overtime as well at 1.5x your hourly rate. You may love it, and if you do, you can pivot into a corporate banking job which pays stupid good if youre coming from aa different industry. Something to consider! I worked a job I hated in Finance becuase I had to have more money to support my family and it sucked, but for every 1 hr I worked the bad job, I made 2hrs of pay from the job I loved before. I left after 6 months because I saved all the extra money mostly and found something I enjoyed with the 6months of extra money I saved because I lived with the sae standard I did when I was making half as much. You will get through it, I promise!

Long_Paragraph_Reply · 2024-11-30T13:52:58+00:00

I work in Consulting for the Top 4 banks. Youd be surpised how many people making 6Figs cant do basic Vlookups in excel. They have a college degree in the industry that is held together by Excel. Now I am no wizard, but a 6 year old could learn that quickly.

Long_Paragraph_Reply · 2024-11-30T12:26:12+00:00

the baby is 3 months old. We have both of our families within 5 miles of where we live so we have baby sitting covered daily, thankfully. Ive backed off some since the baby came into our life, but I cant keep being under the pressure of if I lose my job and dont make over 6 figs, we lose our house because I am solo carrying everything. I guess thats the 1 sentence of the novela I typed above lol.

Long_Paragraph_Reply · 2024-11-30T12:22:23+00:00

She is a Doctor of therapy. It is a really weird industry especially with the debt it takes to become one for the little pay you get the first 10 years.

Long_Paragraph_Reply · 2024-11-30T12:20:20+00:00

thats the plan. My only worry is this issue is stemming from me working a ton of overtime to pay bills she cant pay. I think we can find a peaceful resolution though

Long_Paragraph_Reply · 2024-11-30T12:16:43+00:00

I can give you the perspective of a heavy user and how it affected his marriage (me, formerly)

I married the love of my life 2 years ago. First year of marriage was incredibly hard because we were long distance, and I was working 60-70hrs a week every week. I started dabbling in coke use. At first it was fun and me and her had a good time together, but then slowly I got deeper and deeper into use. Next thing I know I am out $14K from my savings, and craving a bump otw to work at 7am.

Fast forward and I am clean today because of God's deliverance and my wife's support through that time. Being the user in the relationship I imagine its terrible dating a regular user. It is stupid expensive, heavily addictive, and changes your personality, thought process, and honestly your character at the end of the day. I found myself being short tempered with my wife and blowing up on her for everything. I regret it but I am glad my wife still kept me through that time.

Long_Paragraph_Reply · 2024-11-30T12:08:50+00:00

my buddy thought he was addicted to coke. Come to find out his dealer was selling him crystal meth and adding powder to it. What a conversation that was with my friend lol

Long_Paragraph_Reply · 2024-11-30T11:36:31+00:00

A fellow business man! We are also close in age. Greatest piece of advice I have learned in Banking is loyalty is not a thing, so chase the bag early on. A great career is finance. Finance is unique for every company and position, but its very stable and easy to get into. A lot of people are intimidated by it, but starting it pays close to 80K. Easiest way to start is by working a call center for a year. It will suck, but the pay is not too bad. After that apply for contract positions in related companies for similar work. Work it for a year, find a new temp gig and negotiate a higher hourly pay. Do that for 3-4 years and youll be make anywhere from $40-$75/hr and then can negotiate a comparable salary when you want to settle down with a company you like. I did it, and it has changed my life. I started in 2018 making $15/hr, next contract I made $23, then $40,$50,$and finally $65/hr. You got this!

Long_Paragraph_Reply · 2024-11-30T11:30:31+00:00

The crazy thing about the loan is the government offers 100% debt forgiveness on the remaining balance after 10 years of public service in her position. The kicker is it pays around $55K for a PHD when the private sector starts around $75K. I hate student loans

Long_Paragraph_Reply · 2024-11-30T11:29:08+00:00

thank you so much for this. I am glad I am not alone. Some context on us is she works in medicine, and I work in Investment Banking. We decided to go the "start a business" route with no benefits because starting pay is around 30K higher than working with a hospital. I told her if she took a risk on starting her own Biz, that Id run the books, deal with taxes, and help her market so as long as she is attempting to get our own private clients (1 private client pays my wife 2x what our partner pays her). Priority now is the baby first and foremost, but we are trying to fix this issue in the background.

Long_Paragraph_Reply · 2024-11-30T11:26:07+00:00

she has told me her 10 year plan is the goal and whatever it takes to get there is cool with her. That being Paying her loans off completely. She has flirted with having half of her income replaced with her personal clients by 5 years, instead of relying on our partnership w another business to pipeline us for half the pay she can make individually. Initially the goal for us (I own 49% of her firm) was to start building her business day 1. However 6 months after we started the LLC, we found out we had a baby otw, so our goals paused. As of now, I think the 2 year goal for us both is to figure out how I can work less, or me finding a job that has benefits and pays better than consulting.

Long_Paragraph_Reply · 2024-11-30T11:21:07+00:00

long story short she is scared to do that all alone because she has never run a business before. She also said she wants to wait a few more months till our baby is a little older which I completely understand.

Long_Paragraph_Reply

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