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Investment Advisor

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global-marketExplore Being an Investment Advisor

cz: Briefly describe your job.

I work as an associate at a hedge fund-of-funds. We are a small shop and as such, the roles I play are very diverse. Operations, administration, investor relations, and manager due diligence are some of the areas in which I provide support.

cz: How long have you been working in this field?

I have been in the field for 2 years and in my current job for 1 year.

cz: When and how did you decide to choose this career?

In college, I majored in economics. Most of my classmates opted to pursue a career in finance upon graduation as it was a practical application of their undergraduate coursework. I chose to do the same, though I also weighed entering the teaching profession. I decided it made the most sense for me to try out finance for a few years, and if I did not find it satisfying, I could transition into teaching afterwards. The reverse transition might be more difficult.

cz: What education and training did you receive before entering your field?

In addition to my undergraduate coursework, I interned at a bulge-bracket firm the summer after my junior year in equity research. Following that summer, I was offered a full-time position at the firm in equity research, which I accepted. The firm had a summer training program for its first-year analysts, which was supplemented by on-the-job training.

cz: How did you begin OR what was your first job in the field?

My first job in the field was a summer internship in equity research.

cz: Describe a typical day on the job?

A typical day on the job would involve working on one of the following:

  • Overseeing monthly reconciliation of fund financials and portfolio pricing

  • Processing month-end investor activity including subscriptions, redemptions, and transfers

  • Performing due diligence on current and prospective managers: information gathering, analysis, and screening

  • Providing investors with up to date performance and portfolio information

  • Updating of internal marketing and presentation materials

  • Working on ad hoc projects as necessary

  • Some administrative work

cz: What do you like most about what you do?

I have enjoyed learning about how financial markets operate, how companies create shareholder value, and who different market players are. It has been great to gain exposure to various investment vehicles and learn practical knowledge about how to invest my own money.

cz: What has been the most rewarding experience so far in your career?

While working in equity research, I had the opportunity to attend analyst days for companies in our coverage group. During these analyst days, senior management talked about their current results, forward strategies, and latest product innovations. It was very exciting to be in the presence of these leading entrepreneurs and hear about their ideas, visions, and thought processes.

cz: What do you like least about your job?

The job is not as emotionally rewarding as I would like. While some of the clients I have interfaced with are representing pension funds/endowments/smaller investors, the majority are high net-worth clients and institutional investors, and it is easy to feel like you are simply making the wealthy wealthier.

cz: What is the biggest challenge for you in this job?

Many finance jobs (particularly those that involve direct investment) can be very time-intensive, and it has been a challenge to strike a work/life balance. In my current role, I have been able to more successfully achieve a good work/life balance.

cz: What would you like to say to someone considering this career?

It is important to gauge whether your interest in the field is informed. It is easy to be attracted to a finance job for the wrong reasons (the allure of big salaries and being able to say, “I work on Wall Street”). Speak to any friends who are currently in the finance profession about their roles. Ask if you can shadow them for a day and/or seek an internship at a financial firm to really immerse yourself in the day-to-day duties and get a feel for what working in the profession would be like.

cz: What are the most important personal and professional skills necessary to succeed in your field?

An individual should possess drive, follow-through, and strong communication and quantitative skills to be successful in this field.

cz: What would a person interested in entering this field have to do to get a good job in it?

I would suggest securing an internship at a financial firm to gain exposure and training in the field. While some firms do offer formal internship programs, many do not, but are willing to provide some informal on-the-job training for those who will help them with extra administrative work/miscellaneous tasks. These positions might be unpaid, but can provide you with good exposure and potentially lead to a paying position down the road if you prove yourself.

cz: What could someone who is interested in this field do to learn more about it right now?

Begin reading The Wall Street Journal to get a taste of goings on in the business world. In addition to providing helpful interview tips, VAULT guides can provide color into the roles and lifestyle of finance jobs.

cz: Is there any general advice you would like to offer to students on making a career choice or on work life itself?

It is important that you do your research and really explore a career prior to making a final decision. You will spend a good portion of your time at your job, so it is important that it be something you are interested in, excited by, and dedicated to. You will also want to seek a work environment that you are comfortable in and can be nurtured by.

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