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Career Dilemma (long)
I posted recently about searching for a job and fortunately I haven't had much difficulty landing interviews. However, I feel like I'm at a fork in the road now, though, and I'd like some perspective on how I should approach my future.
As most of you know, my background is in communications electronics repair and I have plenty of experience and a good educational base in that area. I'm considering either staying in the electronics field or pursuing a career I'm more passionate about: financial advising. At this point, I'm completely undecided as far as which option would be the best in the long run for me.
I had a successful initial interview earlier this week with a financial company I would enjoy working for. The interviewer expressed a strong desire to continue moving me through the interviewing process and hopefully bring me on the team eventually. They have great opportunities for training and education and it would be a good way to start my career of as an advisor. My hesitation in immediately jumping on this chance is twofold. First, it would require a strong networking base so I could find potential clients. Second, I would have to put in an insane amount of time and energy working to build my business, so to speak.
Now, I have no problem working extremely hard and putting in long hours and I'm not planning on having kids for several years so I'm not concerned about it impacting family life too much initially (although my marriage is my first priority so I have to take that into consideration). I'm mostly worried about the networking aspect. I honestly don't know as many people in the San Diego area as I would like and I know I would have to really expand my reach before I can begin to consider pursuing this career.
So, I can either take a risk and go after a financial advising position, or I can take the safe route and stay in the electronics field. The latter option would most likely pay well and provide stability, while the former provides more opportunity for growth, but is much less stable. What is your take on all of this? I'm pretty overwhelmed so I'd appreciate any input, even if it's negative! Thanks in advance!
Re: Career Dilemma (long)
I totally agree with Erin. What about building up your client portfolio over the next few years, until the economy picks up. IMHO, people are scared to trust anyone or anything regarding their money and assets. The people that have filed for bankrupsy and/or foreclosure are not feeling the burn from the past yet. It will hit them in a year or two once they begin to recover financially, but creditors want nothing to do with them. Perhaps that is when the financial industry would do you some good. I am super conservative about making risky moves and right now, IMHO, again, I do not think starting a career in FA is wise. The people that do have $$ to invest still, have established portfolios and asset managers already. On the other hand, I know what it feels like to want nothing more than to do what you love and are passionate about. Pray about it? (if you are in to that) I do not envy the position you are in, but congrats on all the interview success.
that's what i was wondering too. another dumb question? does the military offer any programs/counseling to help soldiers & marines acclimate to civilian life again? or are you just left to figure it out on your own?
Being in the financial advising industry is not easy. This is my background and I have to say that all though there is a lot of money to be mad, but it is not an easy career. There is NO security. You will start from scratch and pound the pavement looking for business. They will ask you to sell to your friends and family which I am not a fan of.Helping the average person is not where you make your money and although that is your passion you ill soon be asked to do things to make money you yourself may find questionable. It's sales and it's hard core. That being said, it will take about 5-10 years to build a book of business when you are finally able to help people.Then it's rewarding financially and you are able to help people.
Getting your licenses is a good thing. You can go a lot of different avenues and make a good living. Feel free to email me an ask me questions. Who are you interviewing with and I will tell you if it's a reputable company.
Once the banking world stabilizes a bit, you might want to go that route as well. I have been in this industry for 13 years so I know all about it.
Melissa_castanon@yahoo.com
The military does offer some basic transitional courses and I actually went through the week-long class already. It's a very basic overview of how to create a resume, search for jobs, and go through interviews. It also covers the types of benefits you can expect to receive (if any) upon separation. I met with a career counselor as well, but she wasn't able to offer much insight. She looked over my resume, went over some results from a test she had me take, reviewed my goals, and concluded that I didn't need her help to attain those goals.
Basically I have had a bit of assistance, but I could always use more, especially from those who have experience in the civilian workforce and/or in the fields I'm interested in getting into.
SDJuneBride08- Thank you for your advice and insight on pursuing a career in finance. I've given so much thought to the amount of hard work it's going to take me to reach any amount of success in that field and I know it's going to be incredibly touch and stressful if I do decide to go this route. I'm making the effort now to finish my education and get my licenses, as you recommended.
I have to agree with you about the pressure to sell to friends and family. I know one has to start networking from somewhere and that's certainly the most logical place to begin, but it's an uncomfortable position to be in. Ideally, I would love to help others learn to save, manage, and invest their money, but I would honestly be open to any kind of position in the financial world. I'm flexible, eager, and young enough to take some risks so I don't mind modifying my career plans. I'm going to send you an email with information about the companies I've been interviewing with and I really appreciate the help!