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Finance Career Paths

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In the traditional finance world (excludes quantitative finance) there are a lot of career paths available. I have tried to cover the basic paths however you should know that people with finance backgrounds have ended up in all different types of jobs.

Understanding what is required to get to specific careers is important as some paths require different degrees and experiences. These increase the costs associated with these paths and should be considered when reviewing compensation and job responsibilities.

1) Private Equity (Usually investment banking experience is required)
2) Hedge Fund (Usually investment banking experience is required)
3) Investment Banking (Undergrad required)
4) Wealth Management (Undergrad required)
5) Corporate Finance (Undergrad required)
6) Technology Jobs (Non-coding jobs and undergrad required)
7) Consulting (Undergrad required)
8) Business Development/Sales (Undergrad required)
9) If you work hard you could end up in more quantitative jobs such as operational research but usually more quantitative course work or experience is required.

Why We Quit Investment Banking ($100,000+ Salary):
https://youtu.be/R4ibMt0kQiw

Private Equity Compensation:
https://www.wallstreetoasis.com/salary/private-equity-compensation

Hedge Fund Compensation:
https://www.wallstreetoasis.com/2017-hedge-fund-report-8-key-takeaways


Quant t-shirts, mugs, and hoodies:
https://teespring.com/stores/fancy-quant

Connect with me:
https://www.linkedin.com/in/dimitri-bianco
https://twitter.com/DimitriBianco

Support this Channel:
https://www.patreon.com/FancyQuant

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50 Comments

    Popular Comments:

Kostas Antoniou . 2020-02-19
Do corporate earnings follow any distribution? Could quantitive finance be useful to estimate future earnings to find the value of a stock? if yes then quants can do the job of financial analysts better than them.
121 2 . Reply
A bit of Sunshine and Jesus! . 2020-02-16
How many times do you say finance? Lol
121 2 . Reply
Rick Jackson . 2020-01-30
I am interested in pursuing a degree in finance. Which school has the best online program?
121 2 . Reply
geoffrey nduhiu . 2020-01-30
What of doing CFA alone,can it propel one to investment banking?
121 2 . Reply
Bellestorm . 2020-01-26
Awesome video. Thanks for the info.
121 2 . Reply
Tyler Brooks . 2020-01-25
Awesome video, really appreciate your effort!
121 2 . Reply
peachykeen08 . 2020-01-12
thanks for telling me that their is some elitism into the investment banking field. I would have wasted too much of my time pursuing the field for no reason
121 2 . Reply
Treveon 23 . 2020-01-09
Can u give me a list of undergrad colleges I should pursue for these careers
121 2 . Reply
Isidro Samperio . 2019-12-21
Good video! I have a question. In which area can I start and end working on private equity after a MBA. I am study, I graduate next year.
121 2 . Reply
Keegan McHugh . 2019-12-16
What gpa do you think an Ivy League athlete would need for an entry level investment bank job?
121 2 . Reply
Mohannad Fuad . 2019-12-05
I saw your video about the racing cars engineer and the one who race using the car etc.., with that being said ,do you think as an engineer that it will be time those engineers will design a car that it drive it self and affect all that jobs in this video by cutting jobs lowering the salaries etc.. .
Thank you.
121 2 . Reply
Sajiya Shrestha . 2019-12-03
Is doing masters in finance harder for students who don't know about stocks, shares, bonds and also weak in mathematics?
121 2 . Reply
Josue Martinez . 2019-11-12
Thank you for clearing this up. My brother works in wealth management. He makes his 80-90k and still has a life outside of work, and I think that’s what I’d like to pursue as I finish my finance degree as well.
121 2 . Reply
Music Videos For You . 2019-10-15
I'm in ARTS stream completing my 11th and 12th studies. I have planned to do BBA and then an MBA in finance. Will that help me with becoming an Investment Banker or do i have to complete some other courses of study to get into investment banking?
121 2 . Reply
Nana Yaa . 2019-10-02
Hi, this might seem like a silly question but I’m new to this so bear with me. How does the consulting mentioned in this video ( which I’m assumais financial consulting) differ from management consulting?
121 2 . Reply
Mohannad Fuad . 2019-09-23
Can I get a master in statistics coming from a finance bachelor?
121 2 . Reply
Nathan Sutter . 2019-09-19
this video seemed unbiased. I also greatly enjoy that you didn't try to sell me anything.
121 2 . Reply
JoJo T . 2019-09-17
The initial investment requirements for hedge fund are often $1 million or greater.
121 2 . Reply
SAPIEN . 2019-08-06
Can you make a video about skills that you need to know
121 2 . Reply
ZelenaZmija . 2019-07-09
I feel like Dimitri mis-characterized quite a lot here, and left some important stuff out... For one, private equity isn't small companies.... I'm credit analyst at a rating agency and we see a lot private equity transactions, these aren't companies that need $6mil to run their business. At least in my sector the smallest we see is usually a company that's already doing at least $100 million in revenue... and for us that's tiny. Plenty are over a billion or several billion in revenue. Also it's not just individuals its institutions, think pension funds and insurance companies etc. On the wealth management side yea he's right in that a lot of wealth management is managing peoples middle income to upper middle income retirements and assets and whatever but where most people in wealth management want to work is with high net worth individuals, people with a million or ideally way more in assets and will charge a fee for service somewhere in the 0.5% to 2% asset under management. So if you build a book of high net worth clients you can be making several hundreds of thousands of dollars. Again a lot of it is regular people retirements but most students who go into wealth management as a career are more interested in managing the money of these ultra high network individuals. Asset management is a big industry that he did not mention but think wealth management but for large institutions for example managing a pension fund for a fee % of assets under management.

Big fan of your quant vids though, very informative
121 2 . Reply
Emmy Rancho . 2019-07-06
Can i take the CFA exam without a work experience?
121 2 . Reply
Andrei Popescu . 2019-06-08
Hey Dimitri, I love your videos, very condensed and informative. Can you comment please on science -> finance route, like going with PhD in Theoretical Physics to HF or AM firms. Is that possible to do just straight after graduation or an additional statistics/finance degree is necessary? Are there any benefits of having a PhD in a unrelated field (like theoretical physics) in quant finance?
121 2 . Reply
Saurabh Shukla . 2019-05-29
I think this is an oudated career path. MBA degree can be substituted by relevant work ex
121 2 . Reply
TheAxhol . 2019-05-27
I Will study economy, can I get an internship for an investment bank?
121 2 . Reply
Joel Rondinella . 2019-05-22
Dimitri, how marketable will my undergrad in finance from Ohio State be? Also, what are my best options in Columbus, OH? What does my path/ladder look like if I work for an insurance company like Nationwide who is headquartered here? If you have any better ideas or advice I would appreciate it thanks.
121 2 . Reply
2012lel2012 . 2019-05-18
Hedge funds you need $1M in assets net your house, guy
121 2 . Reply
walden wasted . 2019-04-22
Hi Dimitri, I'm from Italy and i'm about to take a BCs in CS and I would like to work in finance. What would you suggest to do in order to take this career path?
As I come from an Italian university, isn't my uni seen as a target school?
Would suggest to take a Master Degree in Finance or Quant or CS/AI ?
121 2 . Reply
Po-wei Kao . 2019-04-06
Thank you for all these informative videos!
121 2 . Reply
Roclaph . 2019-03-30
Also, PE/HF analysts do make loads more than the base numbers you/the report states. those numbers are deflated greatly by non-top programs, and you are talking about the top programs.
121 2 . Reply
Roclaph . 2019-03-30
MBA/ IB Associate are not necessarily needed anymore to jump to PE (2 years as analyst is sufficient)
121 2 . Reply
mastersupernova117 . 2019-03-30
Important Correction:

Analysts do not go on to get an MBA in order to become an IB associate and then move to a PE/HF role. Rather, they will move directly as an analyst to either a PE associate or IB associate position. There is no reason why an analyst would get an MBA to become an IB associate when they can be promoted internally without one. People in finance who were unable/chose not to do banking directly out of undergrad will have to get an MBA and then become an IB associate. However, post-MBA associates are generally expected to stay at the bank for the long run and will face much more difficulty moving to a PE/HF role as those firms do not generally recruit IB associates.
121 2 . Reply
Kamden Ferguson . 2019-03-21
Great video
121 2 . Reply
CP . 2019-03-07
Would trading assistant be considered a good entry level position to get or is analyst the only one?
121 2 . Reply
cameron kinsey . 2019-03-04
How can anyone dislike this video? Dimitri, you have earned yourself a new sub! Keep up the good work!
121 2 . Reply
na qu . 2019-03-01
Thank you so much, learn a lot from your video.
121 2 . Reply
kimberly Alvarez . 2019-02-17
Can someone go from bachelors degree to MBA to associate analyst?
121 2 . Reply
Sisyphus . 2019-01-24
very helpful, thanks
121 2 . Reply
Angela T . 2019-01-16
great video! I wish i had found it sooner! you described everything in a friendly, understandable, and honest ways with great heads up!
121 2 . Reply
Angela T . 2019-01-16
but management consulting is probably even snobby than high finance when hiring... right?
121 2 . Reply
Watchdog Man . 2019-01-10
Hey dimitri, can I do investment banking with a computer science degree?
121 2 . Reply
Gilgamesh Baratheon . 2018-12-26
Finally a finance youtube channel that I can appreciate <3
121 2 . Reply
Ganesh Menon . 2018-11-30
this is great thank you.
121 2 . Reply
Huixtocihuatl . 2018-11-10
Great video! What if I do my MBA right after Bcom without working in a company in between. Is that a good thing to do?
121 2 . Reply
Rebecca Dcunha . 2018-11-01
If im doing my Bcom degree of 3 years in a local university while pursuing acca so im confused for after 3 yrs since i do want to get in a target school so what do i do ???
121 2 . Reply
Sachin Garg . 2018-09-29
Is the video content applicable to a Engineering student too who want to make career in finance?
121 2 . Reply
Elnar0 . 2018-09-12
Amazing
121 2 . Reply
Andrew Bathija . 2018-08-01
Hey Dimitri! I’m a 16 year old high school student looking to plan out my future. I am highly motivated by money and that’s why I am so interested in the world of finance. First of all, thank you very much for this video. It really helped me understand a typical finance career path. I’m going into my junior year, and I feel like I have a great shot at getting into those “target schools” you mentioned. The dream is Penn (Wharton), but if not, then definitely NYU (Stern) or Columbia. I was wondering what you think about this career path for myself:
June 2020 - Graduate High School
May 2021 - Complete Freshmen Year of College
May 2022 - Complete Sophomore Year of College
May 2023 - Complete Junior Year of College
Summer 2023 - Internship at Investment Bank
May 2024 - Graduate College with BBA
May 2024 - Apply for Job as Investment Bank Analyst
August 2026 - Leave Job as Investment Bank Analyst
August 2026 - Begin MBA Program
May 2027 - Complete first year of MBA Program
May 2028 - Graduate with MBA
May 2028 - Apply for Job as Investment Bank Associate
May 2030 - Leave Job as Investment Bank Associate
May 2030 - Apply for Job as Hedge Fund Analyst
Sounds typical to me. Just want to earn a lot of money with the skills I have. Your opinion would be highly appreciated, along with any suggestions along the way. Thanks so much!
121 2 . Reply
Ahead_of_ all . 2018-07-27
Can a finance major be an Accountant?
121 2 . Reply
Sherine Antony . 2018-07-18
Hey Dimitri, great video! Could you tell me how to go about Financial Consulting career path after undergrad?
121 2 . Reply
raj verma . 2018-06-30
Can I do Ms in financial engineering after persuing enviourmental engineering in India from a top college?
121 2 . Reply