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Help me get out of this boring Back Office Finance!

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Help me get out of this boring Back Office Finance! [#permalink] New post 22 Feb 2013, 08:21
I've been following these forums for a while and I could really use some guidance....

I am 23 years old, graduated in May 2011 from Penn State with a degree in Finance and minor in International Business. I had an offer for a consulting role with PwC for $58K starting salary, but I had to turn down the PwC offer for geographical reasons at the time. I have been working in a back-office Finance role one of the largest US banks for about 20 months (I didn't know the stigma of back-office finance roles when I took the job) and now I think I sold myself short taking this job. I just got promoted but the raise was still only 2% (making $52K now in a cheap city, with no bonus). Now I am willing to relocate for the right career (I would even go abroad since I love travel, preferably a warm place though). I also have a strong technology background so I am trying to find out if something like technology consulting would be a good fit for me, but I am open to other opportunities as well. Current jobs I am considering applying for:

1. Financial Analyst at Google in Mountain View California (I know this is actually still back office, but I heard that Google competes with the likes of GS for analysts and carries a much higher pedigree with much higher pay. Is that correct?)

2. Technology or Management Consulting at Accenture (how hard do you think it would be for me to switch into consulting now?)

3. Technology Architect for Financial Performance Management Pre-Sales at IBM (I don't know a ton about this role, anyone have some insight?)

GPA: 3.86/4.00
SAT I: Math: 790, Writing: 700, Reading: 650 SAT II: Math IIC: 720
GMAT: 650 (I scored 720 on the practice test so I plan on studying more and retaking it)

Another thing to consider is that I am thinking of applying to a top European MBA (IESE or ESADE) eventually.

Are the 3 roles I'm considering all good options, and are they feasible? Are there other types of roles I should be considering?
I would be so grateful for any advice!
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Re: Help me get out of this boring Back Office Finance! [#permalink] New post 20 Mar 2013, 10:27
Expert's post
1. Google will definitely pay well...they have tons of cash, just check their balance sheet. Plenty of cash even after paying all their employees great salaries.
I wouldn't say Google competes with GS for analysts. If you're talking about the Corp Dev branch...they usually take folks who have been analysts at the likes of GS because of their banking experience. However at the entry level, they are not really competing for the same type of candidate.

2. It's possible to switch into Accenture consulting now - you'll need to network your way through and impress during the interviews.

3. Not sure about this one.

There are a number of articles on our partner site mergers and inquisitions about the back office. Try this one.

It's true, many people don't know how the corporate world works at banks until they finally get there and are pigeonholed. Moving onward requires a lot of networking. It's not easy, but it's possible. After a few years, some people consider rebranding themselves through business school. It may make sense to take the GMAT and take it as an "option" for your future career.
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Re: Help me get out of this boring Back Office Finance! [#permalink] New post 29 Mar 2013, 01:30
Try to move to middle office in your bank. If that fails try your hand at Google/Accenture. If plans work or not try to build profile for Top 5 Finance MBA, save some money. The top programs for Finance are Wharton, Columbia, NYU Stern, Chicago.
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Re: Help me get out of this boring Back Office Finance! [#permalink] New post 22 May 2013, 14:59
Middle office isn't much better than back office, and typically the pay is no different.

I would sit tight on the back office role, gain experience. Apply internally for interesting positions, and look as well at other banks. The problem you'll probably have is that you'd find it hard to get into the more client side and rewarding positions and they may stereotype you to dull boring jobs of some report generating or other tasks.

You're still young with a lot of potential. Do the MBA in a couple of years time if things don't progress as you'd like, treat it as a a silver bullet. It will allow you to jump and pass all those crappy slave labour jobs no one wants to do in banks and many get stuck on.

If you want to work in the states the US universities are your best options. Europe frankly isn't the place to be at the moment.
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Re: Help me get out of this boring Back Office Finance! [#permalink] New post 05 Jun 2013, 23:49
mondello wrote:
I've been following these forums for a while and I could really use some guidance....

I am 23 years old, graduated in May 2011 from Penn State with a degree in Finance and minor in International Business. I had an offer for a consulting role with PwC for $58K starting salary, but I had to turn down the PwC offer for geographical reasons at the time. I have been working in a back-office Finance role one of the largest US banks for about 20 months (I didn't know the stigma of back-office finance roles when I took the job) and now I think I sold myself short taking this job. I just got promoted but the raise was still only 2% (making $52K now in a cheap city, with no bonus). Now I am willing to relocate for the right career (I would even go abroad since I love travel, preferably a warm place though). I also have a strong technology background so I am trying to find out if something like technology consulting would be a good fit for me, but I am open to other opportunities as well. Current jobs I am considering applying for:

1. Financial Analyst at Google in Mountain View California (I know this is actually still back office, but I heard that Google competes with the likes of GS for analysts and carries a much higher pedigree with much higher pay. Is that correct?)

2. Technology or Management Consulting at Accenture (how hard do you think it would be for me to switch into consulting now?)

3. Technology Architect for Financial Performance Management Pre-Sales at IBM (I don't know a ton about this role, anyone have some insight?)

GPA: 3.86/4.00
SAT I: Math: 790, Writing: 700, Reading: 650 SAT II: Math IIC: 720
GMAT: 650 (I scored 720 on the practice test so I plan on studying more and retaking it)

Another thing to consider is that I am thinking of applying to a top European MBA (IESE or ESADE) eventually.

Are the 3 roles I'm considering all good options, and are they feasible? Are there other types of roles I should be considering?
I would be so grateful for any advice!

You can try to apply post graduation or Master course in finance. and switch to another company.
Re: Help me get out of this boring Back Office Finance!   [#permalink] 05 Jun 2013, 23:49
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