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the answer is it does not exist i've
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been getting this question a lot
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recently are there any finance jobs that
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are like banking where you make a lot of
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money
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but you also have work-life balance and
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you're not as stressed i don't think
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that answer
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exists and this is why i'm a big
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believer in that people are paid a lot
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for a reason either they're paid a lot
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to do a lot of work or they're doing
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work that only they can do
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or both if you're doing a lot of work
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and it's the work that only you can do
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you're probably being paid the most i
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think most jobs
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in the world most careers in the world
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make sense but in order to not be
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clickbaity here are some finance jobs
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that i know of that i know that my
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friends
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are in that might not make as much as
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banking but definitely has a better
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work-life balance and also gives them
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some form of meaning by doing something
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intellectually stimulating and sexy
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corporate finance
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is by definition a finance role where
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you go into a corporation
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and you work with its finances i
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actually don't have many friends in
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corporate finance and
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corporate finance is not a hot exit
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opportunity most people that i know of
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that are
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in corporate finance i think go directly
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into corporate finance
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after college and it's more of an
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accounting based role that turns into a
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finance role and we largely know it as
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fp a or being a controller and these
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folks project
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company bottom line and they tell their
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bosses that the company's going to
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perform
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this much next quarter or we're
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projecting to hit these revenues next
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quarter next year
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so on and so forth i personally don't
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find this very fascinating to look at
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historical numbers current performance
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and then tell people that this is how
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we're going to perform later but
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it's definitely much better work on
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balance because you're working for
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your man not someone else's man the
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salaries are obviously
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lower i think introductory salaries
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start out like 70k and then as you move
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up and become senior you definitely hit
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the six figure number but on the
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better end comparative that's making
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another more high intensity finance
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rules i think the barrier to entry of
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networking and trying to get
00:01:51
a roll is lower the end goal for such a
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role is becoming a cfo of company
00:01:56
at which you'll obviously make a lot of
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money but you're making less money than
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you would
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in banking it takes you a very long time
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to become a cfo better work-life balance
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and appropriately less pay and perhaps
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slightly less exciting work but lower
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barrier to entry and then the reason why
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i think
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that the whole question of are there
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jobs like investment banking that has a
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better work life balance but you don't
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need to put that much work in
00:02:15
as much as investment banking but you
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make some more amounts of money the
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reason why i think that question is
00:02:18
flawed is because
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there are rules like that but most if
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not all those roles require
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banking as a background so people always
00:02:25
talk about exit opportunities in banking
00:02:27
and i think that's exactly what they're
00:02:28
talking about roles like pe
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hedge fund or dev being strategy
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oriented are all
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requiring banking backgrounds and i
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think that's no surprise because they
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want to filter those out that can handle
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the heat i can get that concentrated
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amount of
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training of working in a professional
00:02:43
field learning how to work with
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financial numbers and excel
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and then come into the field you have to
00:02:47
realize that companies want people that
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are trained so they don't have to spend
00:02:50
their time and money training them
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recent grads right out of college who
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have had that two-year high-intensity
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experience
00:02:56
through banking are more qualified than
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others that don't
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it's not necessarily about the actual
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skills you learn but i think the title
00:03:03
itself gives you a label almost a free
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pass
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into these advanced sexier slightly
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better work-life balance fields because
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they expect you to have
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learned in that expedited time of two
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years in that concentrated highly
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focused
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80 to 100 hour week career the things
00:03:17
that you need to get is those roles i've
00:03:19
talked about these roles numerous times
00:03:20
in these videos so i don't want to juice
00:03:22
them out and make a repeat video but
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basically the buy side so you're working
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on the sell side and banking working on
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behalf of clients and then you can jump
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over
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to said clients the biggest being
00:03:31
private equity where these funds have
00:03:33
their own money and their
00:03:34
whole purpose is to play hot potato and
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buy a firm grow it financially engineer
00:03:38
it and then sell it off to the next
00:03:40
private equity or
00:03:41
strategic buyer you can join as a pe
00:03:43
associate post banking and make
00:03:45
great salary definitely six figures make
00:03:47
decent bonuses maybe not as much as
00:03:49
banking associates now but the longer
00:03:51
run longer term goal is to get that
00:03:53
carry interest
00:03:54
and make millions and millions of
00:03:56
dollars as a vp principal director part
00:03:59
whatever they call in private equity the
00:04:01
issue is is that the top is very narrow
00:04:03
and it's not as
00:04:04
easy as banking to go up that ladder
00:04:06
venture capital kind of behaves in a
00:04:07
similar way except
00:04:08
vc firms need a lot less juniors need
00:04:11
less technical ability and it's more
00:04:13
about networking and finding the right
00:04:14
companies to invest in and developing a
00:04:16
relationship that allows you to invest
00:04:18
in these companies and vc firms don't
00:04:20
really directly recruit you'll notice
00:04:21
that in linkedin unlike private equity
00:04:23
corp death corporate finance and even
00:04:25
banking rules
00:04:26
there aren't job postings that say we're
00:04:28
looking for
00:04:29
vc analysts or associates it's because
00:04:31
they don't need that many and it's very
00:04:33
bottom line and partner heavy many vc
00:04:36
firms consist of
00:04:37
two to three people who came out of a
00:04:39
previous vc fund and
00:04:41
are now using their own money to invest
00:04:42
in companies and they kind of play this
00:04:44
one nice egg will make the entire it's
00:04:47
not an egg
00:04:48
one bad apple makes the entire that's
00:04:50
also a bad analogy but initially they
00:04:52
invest 100 companies want one of them to
00:04:54
succeed and the one will cover for the
00:04:55
99 that are bad they don't really
00:04:56
necessarily need
00:04:58
that many juniors to cover for that
00:04:59
hence the lack of recruitment there vc
00:05:01
also perhaps less than private equity
00:05:03
you'll reach the six figure mark and
00:05:04
then if you cash out and do really well
00:05:06
and with those investments you'll make
00:05:07
a crap ton of money and there's corp dev
00:05:09
which is the slightly less sexier side
00:05:11
of the buy side but it's essentially the
00:05:13
same thing except your company's sole
00:05:14
purpose isn't to
00:05:15
buy and sell companies or make money off
00:05:17
the investment in the company but make
00:05:19
the company
00:05:20
as a whole better and make more money as
00:05:23
a result of the investments
00:05:25
companies that you chase after so when
00:05:26
amazon bought whole foods there is an
00:05:28
internal team that works on that
00:05:30
alongside a bank and you're working
00:05:32
within the company working for the real
00:05:33
company and looking for
00:05:35
potential mergers acquisitions and
00:05:37
divestiture opportunities and even in
00:05:39
those rules you are working decent hours
00:05:41
definitely better than banking probably
00:05:42
60 70
00:05:43
at most sometimes 80 if you're near the
00:05:45
deal closing but i've heard that it's
00:05:47
much better work-life balance you're not
00:05:48
depending on deals for your
00:05:50
salary slash end of your compensation so
00:05:52
there's less of a pressure to
00:05:54
attest to clients because your company
00:05:56
yourself you are technically your own
00:05:58
client if you look at it as a bigger
00:05:59
picture you're gonna hit the six figure
00:06:00
mark but the compensation
00:06:02
upward range is definitely limited
00:06:04
compared to banking and the other sexier
00:06:06
side
00:06:06
by side roles essentially what i'm
00:06:08
trying to say is i think the question of
00:06:10
are there roles like banking that are in
00:06:12
finance where you make a lot of money
00:06:13
but there's
00:06:14
a better workout balance there is no
00:06:15
perfect job because if there was a
00:06:17
perfect job
00:06:17
everyone would be asking about that job
00:06:20
and youtubers that cover
00:06:21
those topics will do extremely well and
00:06:23
everyone will study to go that route i
00:06:26
think there are reasons why certain jobs
00:06:27
pay a lot
00:06:28
there are reasons why people stick with
00:06:30
certain jobs even they suck there are
00:06:31
reasons why people default to other jobs
00:06:33
even though
00:06:34
they don't pay as much there's a reason
00:06:36
for everything and that perfect perfect
00:06:38
job that you guys are looking for
00:06:39
sadly doesn't exist and if there was i
00:06:41
would be pursuing that too so
00:06:42
in conclusion my one sentence summary of
00:06:44
the day is
00:06:46
become a software engineer as always i
00:06:48
thank you guys so much for
00:06:49
watching this video and i will see you
00:06:51
guys next time
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let's go
