Is Finance the Right Career for You? (Ask Yourself these Questions)
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- Опубліковано 5 чер 2024
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Finance is a very lucrative and rewarding career path, but it's not for everyone. You need to work extremely hard in school to be a top candidate and most finance firms have a very intense culture, where you'll easily be working over 60 hours per week. In this video, we'll go over some questions you can ask yourself to determine whether finance is the right long-term career path for you.
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0:00 - Types of People that Go into Finance
0:52 - Step 1: Do You Like Finance Itself?
3:50 - Step 2: Decide What Work / Life Balance You Want
5:13 - Step 3: Find Mentors With Similar Values as You
Peak Frameworks is a business career prep service started by Matt Ting and Patrick Fong, who have each spent several years working in investment banking and private equity in New York and Silicon Valley. Matt and Patrick met at Evercore, a top tier investment bank, and over the years have tutored and coached dozens of candidates to land their dream business job.
Matt Ting: / matthewting
Patrick Fong (HBS 2021): / patrick-fong-0b773041
#InvestmentBanking #PrivateEquity #FinanceCareers
this thanksgiving, matt's jawline and early video uploads are what i'm most thankful for 🙏
Happy Thanksgiving!!!
@@PeakFrameworks p
Awesome stuff, it is really a good idea to put up things in place while one still has the time and opportunity to, as a person seeking financial breakthrough or being mindful of the reality of the world and its challenges while still in service or as a retiry one should consider the basics that can make a meaningful living tomorrow. As the case maybe things and ideas like these may not come up often that's why it is very much benefiting one consider it very important and grab it without hesitation, many senior citizens have made mistakes regarding this and at some point did not really take the steps to invest appropriately and today they are paying bitterly for it, the little one can actually invest today will definitely speak volumes when the time comes because it will never be lost.
Absolutely a great deal ,I know sometimes one can feel that there will always be time and turn to forget about a proper investment plan(s) while still in service or nearing retirement, as a matter of fact the actual benefits of living and securing a better living start with a good planning today, I was so impressed when I saw this comment and wish one can grab opportunities like this and think of a good direction or ways to safe land tomorrow instead of waiting till the time is equally too slim
This is in fact a top hit, I actually was very slow on investments because I was doing good and getting a good pay but after many thoughts I sluggishly had to take another journey by investing. Sincerely speaking what you are saying is absolutely true. I have made good fortune out of this plan and I have added so much to my life by making it a bit meaningful. So far my achievements are really loud and appreciating I am even taking more plans to concrete my financial state ahead of uncertainty. Really lovely stuff
One thing is also good for sure and very important to take note of while taking the steps,a good broker who can guide one through the process with ease.
Absolutely amazing because the whole thing still relates in a way and has a lot to do with a professional who is well established in the field, a proper investment planning will definitely save a lot of financial stress tomorrow you know human want and need cannot be met that's why it is important one take things like this very important. My greatest gains came when I realized I have really made a huge gain within a quarter, gains that gave me the chance to secure other businesses, good house for me and my family and a comfortable living. No idea or opportunity should be considered waste.
@@Kelvinbush-zd9implease do you have an adviser and how can one reach him or her?
I think finance is great way of getting into many fields without actually getting into several fields; personally I'm interested in "business", biotech, greentech, space and tech related to AI and by investing in companies through finance you can, in a way, get involved in several fields. This, along with the earning potential, new tech like blockchain and making other people wealthier through wise investment decisions with their money, is what excites me the most about finance.
Very well presented. My grandson is finishing his first year in college Finance…I hope he has a full and happy life. I don’t value a one-dimensional life. A good job is for all the higher values…no time for living is empty.
dude you're so underrated this video is so high quality I love it
Really enjoyed the video!
Loved your points on happiness and thinking about how you use down time to help you figure out what’s the better fit for you.
I Respect your ability to self analyse and be honest about yourself. As a rising junior at a non target school, it is certainly a grind to break in
Dope, good luck Benjamin!
Totally agree with the part of not asking people close to own age. Usually they won’t give an honest answer to look good
in 7.40 minute u became one of my fav youtubers!
Sub'ed because his honesty made me honest.
This is an awesome video. Great overall layout when it comes to making career decisions
Great video. At :013, (1) I would say I like finance a lot but how it fits into the bigger picture, and (2) while I don't mind the high salary, I wouldn't want to make the sacrifices or endue the BS of working in I-Banking. Looking back I would have probably liked working in the Corp Finance practices at McKinsey, BCG, or Bain. Maybe do the externship at Bain where you work in their PE Group that works very closely with Bain Capital. I like PE and VC and not HF. In the end I am trying to get into Real Estate Investing through syndication and PE Funds.
I’m looking to change careers. My degree in exercise science sucks lol. I know finance and accounting are very tough careers but I do listen to Dave ramsey everyday. I’m starting to like money and want to make more money. I’m 28 years old and just afraid that it’s too late to get into finance or accounting. I don’t even know how to break into the field. I could always get a masters degree but I don’t know anything about accounting or finance. It’s interesting stuff with the little I learned
This was a really helpful! Thank you 💜
watching your videos helped me land the corp dev job of my dreams! keep up the good work
Woohoo, congratulations!
please do make a video on various types of financial skills to be developed to build a career in finance
Thank you! This video was very helpful and explained very well. You are someone I would like to talk to for step 3…. Me as a freshmen in college
One thing I will add is it is very tough to break into private equity and investment banking especially and many analist roles aswell. For finance your GPA matters and you want to keep it at 80% minimum or 3.5. Accounting does not have as strick requirements on grades and you can still sneak into finance if you get your CFA later on. Finance is high risk to reward degree. If at a target and have good grades major in finance. If not still consider finance, but consider accounting aswell as it gives an employment safety net and you can still get into finance if you want aslong as you get your CFA which is becoming almost manditory even if in finance.
Cfa is only useful for WM and fundamentals AM, and those are dying industries.
something I needed to hear, thanks
By far the best video I’ve seen on finance in a long long time, post changing my major to finance I was always a bit unsure about whether I’ll be interested in finance in the longterm or not, this video made it very clear to me. Absolute gold content man!
Thanks man, really appreciate it :)
So my man Yashvardhan how was it? Do you regret it?
Do you liked finance then ?
3 things about me
1. Absolutely love finance more than anything else. My hobbies are all finance related.
2. Work life balance is crap to me for most of the time. I have worked for 4-5 months straight for 13-14 hrs.
3. My bed time reads are biographies of top bankers, PE CEOs, 2008 financial crisis books and Wiley finance books.
Will apply to Oxford, Cambridge and other top finance schools.
is this satire
@@qw9 why would this be satire?
@@mrlaser7580not many people love finance with all their heart
I'm seriously considering going from IT to finance; I just find learning how money works is much more interesting. My main goal is being a PFA and working for myself.
Hey Jack, I’m currently in IT and i’m thinking of the exact same thing. If you don’t mind me asking, what about IT is making you want to make the switch? For me it’s the lack of interest and that relating to a luck of understanding. Interested on your thoughts.
I think being a PFA and High finance that this channel is mostly catered to are going to be wildly different. As an advisor a lot of times you are really a sales person trying to get people to give you their money so you can take a fee and put it into a fund that you don't make decisions on. I would say do a lot of research., I really wanted to go into advising but realized it isn't what we really dream it up to be. It is also a lot of networking. you have to go and get the clients they don't come to you even later in your career the best way to make more money is to go and get more clients yourself. It is really a networking job very different than IT
@@gurpal8503does IT pay well?
same! i'm currently studying law but i guess i was wrong about my ambition lol and considering making a switch to finance or tech cuz i love both...as for finance, i love studying about investing, how businesses works, how economics works and it's impact on global events or the impact of global events to economies...it fascinates me more...
I’m like you but with the arts, thought I should do that like you said in the beginning.
What an amazing and insightful video . Could anybody please tell me what Finance Primers are ?
1st year student here, this really helps!
How is it ?
I needed to hear this, IT defintly fits me better since i want to able to have work life balance and create my own business on the side
Wait so you like IT? I’m trying to decide to pick IT or finance as my major
Isn’t IT in like a bad-mid paying range?
wish i have known this earlier. ths for sharing
If I think about working more than 40 hours a week on anything that’s not directly into a business that I own, I find that to be wasted time, especially now with two kids.
This is great. I almost majored in Finance (and then seriously considered economics and accounting) before realising that all these subjects are purely hobbies for me and that that I would hate to have a career in any of these fields.
I'm grateful for the many people far smarter than me who have made these subjects more accessible through podcasts, blogs, books, lectures and research papers. I don't deviate from investing in broad based low-cost index ETFs (S&P500) and remain informed but don't see myself building a career in the field.
hi, i'm in a same situation as u, but I'm not sure if I'm just interested on the surface level, hence am digging deeper as well. may I know for yourself, what are some signs that led u to believe that u don't want it as a career?
I went to a less prestigious school. Majoring in finance didn't really amount to anything. It was a top 150 school but when you get that low no one is recruiting and so the major might as well big a liberal arts degree. I got to where I am now in my career by networking, researching companies and taking classes and trainings on the side. Constantly reading articles and watching podcasts. I started following Matt near the start of his channel when I debated going back for an MBA. I decided against it because I ended up getting someone to take a chance on me and now I am in my dream job
Hey, happy to quickly share a few reasons although there are many more.
1. Male dominated and competitive environment and culture which I wouldn’t enjoy (I’m a woman).
2. Would struggle to excel in the relevant courses as I’m not great at maths/quantitative subjects. I can pass but being a top student would be hard.
3. None of the jobs or courses strongly interested me.
4. Not type A enough. I don’t thrive working extremely long hours and I’m not good under pressure.
5. My interest is more focused on the sociological, legal, historical and psychological (qualitative) aspects of money/finance/economics. Loved reading about financial independence retire early movement, and peoples experiences and motivations rather than spending lots of time modelling the numbers. I dread doing taxes and never actively invest, I’m super not a risk taker.
6. Got work experience/semi-related jobs and networked in the field which solidified my perspective. Don’t mind generalist roles where basically commercial acumen is relevant but could never be a “subject matter expert” in finance or economics or accounting fields. Maybe behavioural finance/economics or Financial counselling or using basic financial knowledge is fine but the more complex aspects I don’t care for like derivatives.
7. I prefer consuming rather than creating financial/economic or accounting content. I recognise the importance of these subjects and want to be financially stable and comfortable and literate but don’t need to be wealthy or want to spend time trading or working in a private fund.
8. Wanted a meaningful job predicated on supporting and helping and connecting with people long term.
I’m currently in an analyst job which works well for me. I’ve done jobs that tangentially relate to finance/economics/accounting but can’t see myself studying or specialising in these majors.
Helped me to make decisions
I think my older brother should’ve went to school for finance. Today all he does is invest, read about investing and send me stuff related to the topic.
I like the intellectual aspect of finance theory, so I taught finance part time at local colleges. As I was trying to teach portfolio theory, most of the class wasn’t interested. I said, yes, it’s not for everyone, but you guys are finance majors, but it was too late to change in senior year.
Most of the class isn’t ever interested in anything in any class at any school. Sad
What finance podcast do you recommend?
Hi, I just graduated in an investment degree last year and I genuinely don't know what career path to pursue in this industry. I enjoy the stock market and learning about the mechanics and technicalities of how it works, but I enjoy interacting with people. I don't know what career path I can pursue that incorporates some degree of both 😢
Corporate finance? Risk management?
My man dropping a video on Thanksgiving 😤 #dedication
😤😤😤
God, I left engineering to pursue finance just because it made me happy.
finance is way better than engineering so congrats.
@@nycto16 I sure hope so. I’m leaving computer science for finance. Still kinda on the fence between, finance, management information systems, or accounting.
@@arathgomez172 All three are amazing majors but for me personally I like finance more than accounting or MIS they are kinda boring to me.
@@arathgomez172 double major if interested in both I’m going to double major In finance and business analysis
@@arathgomez172 I’m an undergrad in Finance right now and I’m also on the fence between Finance and MIS. Im interested in both business and computer related things but I don’t want to fully commit to Computer Science. MIS seems perfect since it’s both these things combined. I would switch to MIS immediately but I want to know if finding a job with a degree in MIS will be difficult or if the pay will not be as good. Please let me know your thoughts on this and what you decided as well.
I'm 18 and going into finance next year but I have doubts. I decided I wanted to get into finance because I LOVE doing stocks and the idea of investing/entrepreneurship in general excites me. My main goal is to retire early but if the worklife balance for finance is really that tedious, I probably wouldn't have enough time to focus on my own investment, or business or in real estate or other things that can help me retire early. My question is, with my situation should I go for a career that has a better worklife balance that still pays well like in tech? Or since I enjoy doing financy stuff I should just pursue finance and I can still retire early with it?
Also, great vid man it really did helped!
I guess working in finance wouldn't be bad cus with good pay and living frugally I can probably get FIRE pretty quick.
There's no wrong decision. From my perspective, FIRE is definitely more aligned with the philosophy of people in tech though. People in finance generally try to maximize money and have a tough time walking away. Tons of software engineers and PMs do FIRE by their mid 30's. You should also think about building a lifestyle business (like what I did), that's another great way to do FIRE.
Great video, I kind of tweaked and applied those questions to my situations of choosing a career start as a consultant instead. After some inner searching, I realised im definately a type 1. I'm just so passioante and horny for MS PowerPoint.
is Business Administration major in Financial Management good ? , Currently studying Accounting
Hi. I am eager to work in finance industry. I am searching for a suitable bachelor degree for that. Would you recommend me to do a bachelor in International business for that?
I happened to go to Rotman and most of my peers are pursuing management or accounting. I am applying for a few treasury analyst roles in Toronto (currently a sophomore) and am not sure how relevant this experience would be to IB. Do you have any advise for trying to land a junior year summer internship at a bulge bracket, or is it almost as good to work at one of the big six in IB?
Treasury as a sophomore is good. I think Canadian Big 5 is pretty strong for Rotman junior too. Just make sure you're involved with finance clubs, stock pitch competitions, etc.
@@PeakFrameworks Thank you very much for your advise. I'll see what I can do haha.
Recently qualified CMA from Institute of Cost Accountants of India and i was confused about choosing my profile, now i am sure that i am going into finance profile
Hi I'm currently giving my class 12th boards should I pursue cma.
I'm confused between cma,bba,bca
Please reply
Hi, everyone i need your guidance.I have done MSc Accounting and Finance in Pakistan, but now i want to study in UK, so please guide me which master should i chose to study in Uk.
Are there any remote finance jobs?
Can I enter the industry in mid thirties
I was never into finance. My favourite subject is Biology(not chemistry,not medical only biology) and I always wanted to work as a biologist or researcher or psychiatrist. But from my childhood I wanted to make millions. So now I understand computer science can only make me a Millionaire fastet but I don't want to learn Programming or coding. Now my life's only goal is making millions as early as possible and retire by the age of 40.Should I study finance?
Yes, finance is the easiest way to make money if you don't want to learn coding. Maybe ask yourself why you want to make all that money though before you commit to a new path
@@PeakFrameworks thanks for your reply
Im Engineering student not interested in coding but intrested in finance with fear like what to do next ?..
change your major to finance.
Hey can you make a video about real estate dev/PE a la Related Companies. I don't see any videos about it on UA-cam
Ah unfortunately I don't really know anything about that topic!
I work at a RePe firm ask away
I'm a data scientist seeking to complement my existing skills in Finance. How should I pursue that path given I'm from engineering & computing background. Would an MBA in Finance from university of Montreal help or a CFA be the better option?
I would go for a better finance MBA from another Canadian school if you can. Not familiar with university of montreal so don't know their stats...
What are the career opportunities for someone well versed in both computers and Finance? I'm 18 doing an ACCA (accounting & finance) along with an Applied Computer science degree.
Do you have any advice to recent graduates (6months ago) in trying to land a role in IB. I feel everyone wants 2 years experience for an entry level job lol
If you've already graduated without an IB job, you need to think longer term. You'll need to either slowly lateral to more relevant jobs (boutiques, pension funds, etc.) or redo schooling
Daft punk 😎😎
The GOATs
I have a year to decide what to do oof
Can you stand up and give us a 360 view?
i’m 2 years in so i hope it is lmao
how have you been liking it so far??? im planning on going into this feel but i am a bit intimidated about it tbh
@@ec.clouds It's great man, you can extend into any field you like and within it you learn a lot about businesses so if you want to start your own thing you have the tools for it. Don't feel intimidated, it's honestly pretty easy, the barriers you'll find will be your contacts and money, because to find the people that'll help you you have to spend some money. I highly recommend trying if you are somewhat capable of understanding numbers and statistics outside of it just being a number. Hope this helps and if you have any specific question don't worry asking.
How is it?
Short video
I wanna be famous and smart so I wanna try finance
shut up
It is a scam
I really like chemistry , I enjoy working in labs and dealing with chemical reactions and stuff but there aren’t many job opportunities for chemistry fields and I don’t think it makes a lot of money where I live , but finance does and I’m not sure if I like it or not :( I’m too afraid to go for it I don’t know if I’ll like studying it or not . I need help 🥹
I have the same situation to make a decision. It's so hard to decide what to do in your life