Serving the Quantitative Finance Community

 
User avatar
pk14
Topic Author
Posts: 0
Joined: February 15th, 2006, 12:43 am

Career Hits A Wall. Please Advise.

June 6th, 2011, 11:40 pm

I am thinking of looking for my 4th job in 4 years. Am I jumping around too much?Here is what happened: I was quite happy with my 1st job as a front desk quant in a decent firm. But after working there for 1 year and half, because of the recession, I was laid off (despite of receiving very good performance reviews). With the limited number of jobs available at that time, I took another job which I didn't like at all (I would say I was lucky to be able to find one back then). After 1 year in the post, I got my current job.I wouldn't have took my current job if my boss didn't promise me: A. move me to trading in 1 year. B. I will direct junior developers on the IT parts of my projects instead of having to be half IT. C. some other benefits.Now, after working here for 1 year and half, I have constantly received very positive feedbacks from my boss and other people. But none of the promises are made real. Indeed, I feel a bigger and bigger part of my daily responsibility is shifting towards IT support. We are not a quant trading shop so you know the feeling. Right now, I sit on the trading desk with traders but I feel I am further away from the desk than my previous jobs. Yes, I regret.What should I do? Please advise. My career goal is to become a successful trader/portfolio manager. Should I jump again? What should I say if asked upon switching jobs during interviews? Thank you!
 
User avatar
quantmeh
Posts: 0
Joined: April 6th, 2007, 1:39 pm

Career Hits A Wall. Please Advise.

June 7th, 2011, 12:21 am

it's like chess. a horse jumps around back and forth and sides, and will never be a queen. a pawn slowly moves only forward, taking other figures on the way, and becomes a queen... or gets sacrificed
 
User avatar
yuryr
Posts: 0
Joined: November 5th, 2007, 12:47 pm

Career Hits A Wall. Please Advise.

June 7th, 2011, 7:08 am

It seems to be common tactics for hiring managers to promise something after 1 year... And after that why would anyone want to loose a good IT guy?Also, think about it: to become a trader you need to go through the process of becoming one, but if you continue as IT staff where is this process?sorry for pessimism
 
User avatar
rmax
Posts: 374
Joined: December 8th, 2005, 9:31 am

Career Hits A Wall. Please Advise.

June 7th, 2011, 9:30 am

My 2 cents: think that if you can justify why you moved then there are few issues - however 4x in 4 years is not a good ratio. If you do move again it would have to be a good one. I think 2 years is a reasonable time to stay in a role. Dependent on the bonus time line and amount, then it might be worth waiting so you can resign at that time, hence your next bonus is not pro-rated.
 
User avatar
pk14
Topic Author
Posts: 0
Joined: February 15th, 2006, 12:43 am

Career Hits A Wall. Please Advise.

June 7th, 2011, 9:05 pm

Yes yuryr, I agree. That's why I am feeling a lot of pressure on my shoulders. Right now although my title is not IT, to be honest, the main experience I gain everyday is with IT. That's why I am thinking of finding another job.QuoteOriginally posted by: yuryrIt seems to be common tactics for hiring managers to promise something after 1 year... And after that why would anyone want to loose a good IT guy?Also, think about it: to become a trader you need to go through the process of becoming one, but if you continue as IT staff where is this process?sorry for pessimism
 
User avatar
pk14
Topic Author
Posts: 0
Joined: February 15th, 2006, 12:43 am

Career Hits A Wall. Please Advise.

June 7th, 2011, 9:13 pm

Thx for sharing your opinion.So I guess it could be a good strategy to stay until the beginning of the next year and start looking again?How should I express myself when asked for switching back and forth? On one hand, having to do too much IT stuff is the main reason I want to leave. On the other hand, if I say I am IT then I am reducing the chances of getting a job that I want. Seems like a dilemma to me.QuoteOriginally posted by: rmaxMy 2 cents: think that if you can justify why you moved then there are few issues - however 4x in 4 years is not a good ratio. If you do move again it would have to be a good one. I think 2 years is a reasonable time to stay in a role. Dependent on the bonus time line and amount, then it might be worth waiting so you can resign at that time, hence your next bonus is not pro-rated.
 
User avatar
astoria1938
Posts: 0
Joined: February 23rd, 2009, 7:02 pm

Career Hits A Wall. Please Advise.

June 8th, 2011, 3:08 am

Maybe you can try to get your boss to work on just one of A, B or C. This will make it easier for him/her to realize at least one of those promises. I agree that moving around at the rate of one job per year can make you appear like a "job hopper" which is only good if you are a contract worker, typical in IT. I would make it a two year stay but get your boss to realize one of those promises. It can happen faster than you think if you give your boss one solid goal to work on.
 
User avatar
mit
Posts: 0
Joined: February 5th, 2005, 4:52 pm

Career Hits A Wall. Please Advise.

June 8th, 2011, 9:53 am

cant you remind him of the promises he made back then?
 
User avatar
marketJunk
Posts: 0
Joined: August 17th, 2010, 6:49 am

Career Hits A Wall. Please Advise.

June 10th, 2011, 2:59 am

May be it's better to find the exact job you want and than stick to it .no point waiting for things to happen which have not happened till now IMHO
 
User avatar
pk14
Topic Author
Posts: 0
Joined: February 15th, 2006, 12:43 am

Career Hits A Wall. Please Advise.

June 10th, 2011, 4:25 pm

Thank all of you for sharing your insight.I plan to leave but think it is def worth speaking with my boss to try to save it. But chances are, because I am not experienced with this kinda negotiation, my tone could be too soft (he would just make a joke and bounce me back) or too strong (which is better than being too soft according to my experience with him). So, I should be prepared to leave or scheduled to leave immediately after the conversation. With that in mind, should I wait until year end to get this year's bonus? (due before year end).Also, I am still not sure what to say if asked the reason to leave current job during interviews. I don't want to say "they MADE me an IT" because that will make my experience irrelevant to my new job. But I can't come up with any other reason to avoid being a job hopper either. What do you say?
Last edited by pk14 on June 9th, 2011, 10:00 pm, edited 1 time in total.
 
User avatar
rmax
Posts: 374
Joined: December 8th, 2005, 9:31 am

Career Hits A Wall. Please Advise.

June 10th, 2011, 4:35 pm

QuoteOriginally posted by: pk14Thank all of you for sharing your insight.I plan to leave but think it is def worth speaking with my boss to try to save it. But chances are, because I am not experienced with this kinda negotiation, my tone could be too soft (he would just make a joke and bounce me back) or too strong (which is better than being too soft according to my experience with him). So, I should be prepared to leave or scheduled to leave immediately after the conversation. With that in mind, should I wait until year end to get this year's bonus? (due before year end).Also, I am still not sure what to say if asked the reason to leave current job during interviews. I don't want to say "they MADE me an IT" because that will make my experience irrelevant to my new job. But I can't come up with any other reason to avoid being a job hopper either. What do you say?I think as long as you have a good reason to leave then it is OK - the question is whether you have left for a good reason.So convesation might go:Q: So why do you want to leave your current firm?A: Because it was an IT roleQ: But didn't you ask them that it was IT?A: Well no. The job was sitting on the desk to support trading. their version of supporting trading was plugging in monitor screens (or whatever). I have experience as a quant and it is what I want to continue to do. The job changedQ: Did you speak to your bossA: I discussed it with him, but the company is looking at its prop desk roles, and the job that I was told was there has changed. I looked for opportunities elsewhere, but blah blah blahI can't see this being too damaging, as long sa you are not going into an IT support role....
 
User avatar
cnate2010

Career Hits A Wall. Please Advise.

June 11th, 2011, 9:51 am

The best way to keep looking for alternative way to earn money. Don't look at Career at this moment.