MLM Directory

Investment Advisors/Investment Bankers please help!?

I recently graduated from a prestigious Liberal arts college with a B.A (Honors) in Political Science and History, and have been offered an entry level Marketing Assistant position for a leading Investment Management firm. I would like to know how difficult it is for liberal arts majors (specially women) to break into the investment industry. Is it possible for me to move up to the position of an investment advisor later on? I do not have any background in finance with the excepion of a first year economics course i took in undergrad (and thoroughly enjoyed), but i do have a very keen interest in learning about the capital markets. Is it possible for me to move up to the position of an investment advisor? how difficult is the profession, is it similar to investment banking and what is the income potential? also i know that most IA's make money through comission, does this also apply if you are workng for a top full service brokerage firm? I am in a bit of a dillema because i'm on my gap year and this is a good employment/learning opportunity. Initially i wanted to pursue law but have been having second thoughts about a legal career. Please advise! Cheers.

Public Comments

1. It isn't that hard to break into the industry, but extreamly hard to make a career out of it. Before you become an investment advisor you have to become properly licensed with FINRA. You can check them out at www.finra.org. Most firms require you to be both Series 7 and 66 licensed. These tests are not easy and take a few months to study. Once you pass those tests then its on to working in the industry. Many major firms will pay a salary for the first year or two but eventually it becomes a full commission job. While the position takes a lot of time, knowlege, and sales expierience to get started...the income can become very rewarding. If you have the drive to succeed and are ambitious and patient...it may work out for you. It has for me! not that I make a ton of money but I enjoy the practice. You can learn more about me and my team at the website below. I wish you the best of luck whatever you decide to do!
2. So you have a baccalaureate level degree (which is inherently worth nothing) in subjects which have no earning power at all. Additionally, you have no experience in this industry. You're asking what your prospects of advancement are going to be, when you have no proficiency in the work at this time, and no particular way to demonstrate a future potential for proficiency except for a "keen interest in learning", which is something that everyone says if they seek upward mobility. Let me put it this way: if you asked me for a job you wouldn't get one. The most important thing in any field, if you don't intend to be a parasite, is knowing what you are doing. After that, a distant second place is giving the appearance that you know what you are doing. After that, in an extremely distant third place, is being a well-liked person among your peers.