Today I found out, through my Wounded Warrior representative, that I had some serious potential offers/opportunities, besides managing my own little firm, and struggling to hustle how I am right now. The problem is, one of the potential opportunities is for a tech company, and it is in finance, but it is not doing analysis and trading, it’s working on their financing activities. This isn’t really what I want to do. It would also be hard for me to maintain my client accounts at the same time, but if I am at a trading desk or just doing analysis, (preferred) , managing clients’ accounts and mine would be easy. The other program is 6 months in NYC training and doing internships, then getting a full time position at a trading desk or in analysis. Would be great to go to analysis and be the guy who just organizes and compiles the analysis reports. Imagine how much you would learn just through reading little bits? The NYC one would pay better and I would get to work for big sell-side firms and smaller HF’s.
That seems like a trip to the All-Star Game right? The only problem is that my lady’s work and family are here, she is an only child, and very close to her grandmother. I know she wants to get a house here and raise kids. I’m still gonna launch this new spoke fund, and work on “Operation Gold Mine,” in my off time. I can sign people on and commit capital while @TheDrBigBoss runs the fund like the boss he is. But like I mentioned earlier, if we are managing $10mm in asset (AUM), that is only $100k that is then split between people. $50k does not go anywhere here, a 1bdrm apartment with no parking but a small yard is $2800, want parking in my hood? Add another $300. So I can work for the tech company here, get options (hopefully), raise capital, then grow my firm later. Or go to NYC, get the experience that people really trust, and grow my firm in two years, after I pass the CFA for free? Not to mention getting paid a hell of a lot more.
33 Responses to A Crossroads
The Pope votes NYC.
What am I gonna do with my furry maniacs?
I don’t think the beasts would appreciate NYC. You think SF is expensive, go check out what a decent studio apartment in a reasonably nice part of Manhattan costs too with NO yard and NO parking. You make >2x west coast pay when living in NYC but rent is truly insane in NYC.
I was looking at Tribeca.
Decent 1 bedroom apartments are minimum $2k a month out there
The right opportunity at the right firm only requires at most a two year commitment. But the contacts you get can last a lifetime.
A lot of the main areas at sell side firms are revolving doors for analysts. People get in, work themselves to death for a year or two, and get the hell out and move to the buy side. Investment banking is a perfect example of this.
I vote NYC as the more closely linked your day job is to your fund, the better for you and your fund, IMHO.
Good luck with whatever you choose to do.
I don’t think any fund will let you manage money on the side though. Most of them have a seriously insane amount of restrictions just on personal trading. They do this on purpose because they don’t want you to trade your pa. So it’s not impossible but I’ve never heard of a firm allowing their analysts to trade other people’s money.
yeah but you could, while I just sign on a bunch of bosses out there.
good point. we can certainly do that, once we reach critical mass of course move back
Make the decision with the input of your lady. After all, without the support of your lady, what is the whole point anyway?
As they say, finding the right lady requires a lot of luck and blessing while finding opportunities only require you to open your eyes.
I see the period of two years tossed around. If that is truly all it would take to boost your credentials as you desire, any chance you could go to NYC while she stays out west with her job and relations? Give you both what your careers require and build up your frequent flyer miles from trips back for visits at the same time.
Hard to be apart, but it can be done (been there, done that).
I know it can, but I’d rather not.
Sort of a huge deal .. because the way I see it, you aren’t married correct? So she’s going to have to pack up and follow you.
I’ve had 3 male friends take off to the East coast with GFs in tow. All LOVE.
4 months later, the GF is back on the West living with mom or grandma.
Her position is much more precarious. She’s just hoping but in reality, you two aren’t married and she stands to lose the most unless she too has a job waiting over there and it’s a better opportunity.
Should you take the job or not? That’s entirely your choice. Will you always regret not taking it?
Would a LDR like Montrose suggests work? Most likely no but that isn’t set in stone. Some people can do this for 2 years and it’s not a deal breaker.
I’m not going to give any real advice in this post. This choice is between you and your squeeze.
She’s the one if she follows that is gambling the most IMHO. But if you two are linked, going to make it work, be together forever, are in love, etc… then there’s no reason you can’t make it work in whatever you both agree upon.
We’re engaged and been living together for awhile, so she is def more important.
if you’re open to moving to NYC also then why not other locations? if you expand your potential job search to beyond SF then much more opportunities. LA is not the global financial center like NY but some great firms down there. PIMCO for example. Of course Hong Kong, Singapore, London could all be fun if you’re just looking at it as a short term thing. 12-18 months in Hong Kong could be fun and you can get paid there too. Just saying, once moving becomes an option the opportunity set globally is huge.
LA is doable, the others, def not. She is Italian and Greek bro, they don’t travel far.
nyc is nearly 6 hour flight, almost anywhere in US at least is going to closer. check out the CFA job board. there are firms all over us hiring. FL could be cool, etc. Just an option.
fuck, there’s almost too many options. I hit you up on Twitter about ZSTN.
you have to move out of that absurdly over priced neighborhood man. Out in the sunset or over near st francis wood or pretty much anywhere but the marina and pac heights you can get big houses with yards for much MUCH less. My places is $3k, is huge by SF standards, has a big yard, 4 bedrooms, an office, right next to a huge school field for the beasts, etc. Your woman commutes anyway so why live out there and get ripped off each month making your landlord rich?
I could do NOPA or the Haight, like gAydam’s place we went to for his birthday.
why not sunset/richmond? if you want a big place with a yard, plenty of parking, no idiots around, etc those neighborhoods are the best value in SF hands down. Weather is not the best but that’s of course not why you live in SF and it’s cool being by the beach. Plus there are cable cars and express routes that go anywhere in SF from out there.
Those are the lady’s least favorite ‘hoods, she is not a fan of pink plastic bags with roses on them.
not sure why man, with the $1k a month you’d save you can do a lot of cool stuff and having spare rooms, huge yard, 2 car garage, etc is cool. It’s no doubt the lowest stress area of SF to live in. I’ve lived out there a couple times and always thought it was rad.
the $1k a month you save is a trip for 2 to hawaii every few months. just sayin.
chicks dude, I don’t begin to think I understand. though I know a big part is being able to walk to shops/restaurants and walk to get coffee with her friends.
if cost of SF is an issue I’m just saying there are other options that could save you a fortune. you save $1k a month on rent that is about $22k a year of pre tax income you’re saving. That pays for a lot of UberCab rides to go get coffee. I feel you on girls but paying $1k for the opportunity to walk to coffee twice a week seems pretty steep.
dogs would prefer it too. big yards out there.
I know, she also doesn’t want to move ’till we buy a place.
owning real estate in SF makes no sense though with cap rates at like 3-4%? Tying up capital in barely positive real return investments is a huge opportunity cost for a professional investor imho. Until cap rates are at 10%+ I can’t see how owning a house is a compelling investment. Plus then you have all the hassle of property taxes, huge huge debt load, maintenance, etc
just my $0.02 tho