ranking every finance career (tierlist)
ฝัง
- เผยแพร่เมื่อ 7 มิ.ย. 2024
- in this video I rank every finance career from S tier to D tier. This includes accountancy, investment banking, private equity, equity research, quant trading, investment advisory, sales and trading, risk management, private quity, protfolio management, venture capital, and private equity. I discuss the pros and cons of each, compensation, eccetera.
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00:00 intro
01:25 worst one
02:34 no life career
06:06 play cs:go career
08:03 handle big trades career
10:46 read a lot career
14:03 have fun with cool people career
16:39 first grey hair by 25 career
18:22 sigma male career
22:04 monopoly man career
25:12 print money career - วิทยาศาสตร์และเทคโนโลยี
YO BABE WAKEUP NEW CODING JESUS VID DROPPED
This one going viral
Accounting is not boring, accountants are boring. Great video!
I'd say both are boring
Yes both are very boring
Accounting's not even a finance career. This video has way too many problems with overgeneralization and straight up wrong info
@@sharpasacueball please explain some of the problems, more than happy to hear
Accounting is quite boring (I'm an accountant). But I'd say it offers a more equitable entry point and opens doors to many career options. Finance often requires connections and being strictly "finance bro cultured"...
Would love to hear you talk more specifically on the differences between Quant roles (dev, trader, research) and best path to take for each.
Dimitri Bianco have done it already kinda.
greate content - thanks! for upload you looking great!
Another Banger video... these breakdown videos are always lit 🔥
my man is back
Awesome content
This was perfect timing upload for me graduating with a finance degree in a couple weeks in NYC
If ur graduating then it's too late
@@TLiu-1bno. Can still network in or do internships then do masters
The description you provided for Equity Research is at a senior level.
amazing video
Solid vid
Your assessment of PM is correct
Another con with quant trading is requirement for a P.H.D in Math from MIT. At least to land at a decent place like Renaissance or Citadel.
A MSc in financial mathematics from a top 30 university can get you in
this vid is great
Could you do a part 2 with quant finance careers like quant research, quant dev, quant trading and others. Love your content 👑
To elaborate more, heard of careers as quant portfolio management, quant risk management, etc. i guess if qr qt and qd were all s tier there wouldn’t be a point for a video, but maybe a vid about the differences etc.
Thanks 😄
Where would you personally rank pension fund managers from D to S tier? Is it any different? Just curious
You should definitely discuss the difference between BS ER vs SS ER
One other thing about ER is your comp is tied to the equities desk which hasn’t done well recently
Accounting is in every business though? Is it not the only useful one on this list?
@codingjesus Can we get another video on day trading? I feel like a lot of day traders haven't learned their lesson despite not being profitable since your last video.
You should cover sell-side careers too!
Whats your go to burnout fix?
I’m a QR at one of those firms you listed when describing QT. You did a great job describing the role.
I was offered QT/QD as well, but chose QR because these days the comp is similar to QT, but there’s more job security.
If your desk is losing money, they might fire the QT but they’ll usually just shuffle the QR to a different desk because he’s just doing math.
That makes the comp to job security the best out of the QT/QR/QD bunch.
What did you study to get the role
@@jlakra5729 EECS. Was in HKN. Top 5 ranked EECS program in the USA.
@@The.Harsh.Truthscan an Btech grad make into quant !?
@@hemasaithaninki442 what’s BTech?
Can a finance undergrads break in?
Good stuff What about LMM pe or even just like a search fund / ETA guy? c tier?
what about capital markets, and credit research, structuring, HFs?
Also i feel like research and structuring specifically are much less discussed
hey bro, not nearly smart enough to be a quant, just interested in your general worldview and takes as someone who is. would you make more videos outside that topic?
You forgot to tier working at Home Depo
Saying ER pigeonholes you less than IB is pretty incorrect. Your exit opps with ER are extremely limited compared to IB. Coming from someone in top ER.
Glad to see QT as S - I'm interning this year at an OMM as a QTA intern but honestly am fucking terrified of not being able to make the cut. Would you say people who get fired / burnt out from QT end up going anywhere like the ST people (HFs in particular) - for some reason I don't see much of this happening.
Accounting as a CPA is undervalued. As you know there is more to accounting. Public accounting which includes Outsourced Accounting, Tax, Audit. And there’s industry jobs for the above. Owning your own firm can yield to 10x your salary if you are patient with growing the business.
There’s also a CPA shortage so getting your CPA would counter any automations that are coming.
Shit... in Argentina we have a short offer on finance degree.
In public universities (best quality in general) only has Economics,Public Accounting, Admin an maybe Actuary, no more
kudos to me, the first time when I have to choose a major for university, I chose Risk Management over Air tech. Only to be told in my senior years that every banking or insurance company only need 1-5 for the position, working nonstop, and there were only 1 who had ever taken the job coming from my uni lol
great video, coding Jesus! I do have a question on investment banking, from what I've heard, buyside long-only firms don't really use DCF, comparable company analysis, etc because it was deemed to be inaccurate and unuseful. if that is the case, why are all the sell side banks using DCF to value company if it is deemed to be not useful and accurate?, and if the DCF isn't really good, why are companies paying for investment banks to do perform such unsueful service?
tAll their models are garbage-in garbage-out. They change the numbers to fit their narrative about the growth trajectory (or lack thereof) of the firm. For example, the concept of a terminal growth rate in itself makes no sense (often used in a DCF to predict the cashflows of a company after a period of X years into infinity). Nobody can predict the longevity of a company, let alone what position it and the economy will be in 10 years.
Modeling is 0 value add, it’s just a complete waste of time lol. Everyone in PE overwrites to the same return leading to a narrow band of bids.
In public markets modeling is even more useless
@@CodingJesuswhere would you rank private credit ?
6:00 100%, which is why I.B is so competitive because it always you to transition into so many other roles and opens alot of doors which you wouldn't have had if you didn't start out in I.B
Heck yeah quant on top!
You made me consider Risk Management, but the problem is that the best studies I've found for that are Actuarial sciences or realted studies.
And I really don't want to become a real actuary, more a risk analyst etc. and I fear I can't find the job I want and just end up an actuary.
You don't have to be mathematician to work as a risk analyst, but you should be a numbers guy. My background is in economics and finance, major in statistics. It's a diverse field, the larger the firm the more specialized the job. There can also quite some overlap with treasury, if you want to have opportunities outside the financial sector.
@@lucubrator4283 okay thank you so much !
So I think I'll stick to a quantitative economics/finance degree to get there
Ninja outfit rocks!
PE funds also invest in succesful start-ups at the end of their starting life circle
Accidentally found the ideal guy to follow. 😊
Why isn't actuary on the list?
Monk in Thailand floating on a mountain lmao 😂 keep the content coming 👍
I think the best entry into IB is as an associate not an analyst
>50% of burnout and never recover. Seen it happen many times
what do you think about exit opps as an accountant? (big4)
What career pays the most at the highest level?
Coding Jesus, are college grades important to break into quant as a software engineer? (Gpa under 3.0)
Out of undergrad would be nearly impossible with under 3.0 but maybe if u earned a masters or phd or have some INSANE personal projects / internships
HARDLY is this "every" finance career. what about actuary, risk, audit, taxes, fp&a?
these are the ones ppl care about
an accountant does literally all of that
Those aren't finance
@@sharpasacueball what are those then
These are accounting careers (other than actuary). It's quite obvious why this video ranks accounting the lowest. He doesn't have much understanding about the career like he does with finance (which is fair since he's in finance).
Despite the perception that accounting is dull and low-paying, I'd say it offers the most stability, flexibility, and a more equitable entry point. As long as you study hard, and get the certifications for your chosen specialization, a comfortable middle-class lifestyle is well within reach. Unlike finance, where entry can hinge on connections or being a top 1% performer.
People always forget about allocators -- what about those that work at pensions/endowments/singe family offices?
Where do i find the discord link to your account
As dirty and mundane an accounting work (which this dude allegedly said), all the top tier careers listed by dude rely on the end products and deliverables of an accountant. All the above at varying degrees need information from the C tiered accountant and financial statements.
Yeah all of that is true, but its still boring work and the least interesting aspect.
No one said dirty, idiot, and there’s no accounting without revenue which finance guys produce for CPA’s to even have their mundane work. Go read a book, kid! 🙇🏽♂️😂
He's not judging based on the utility of the work, of course
@@brodude9208 actually there are interesting work scopes in accounting, i.e. M&A, corporate restructuring, due diligence, tax planning, financing, investor relations, corporate planning, transformation etc. Probably bro's level in the company is not there yet or bro's company is huge, thus too specialised.
CFO
Which one is execut- I mean acquisitions and mergers?
Nice to see my PM pathway is S tier.
💪🏽 hell yeah! How is it so far? I’d love to hear your experience with it.
Quant is hard to get into and u rly need a strong math/CS background
Can you do tech careers next?
Sure
Agreed on accounting, its part of the cfa and it's very boring (although very useful)
what about credit underwriter?
You are such a sigma
No, he is a three sigma
what the sigma
What's ligma?
Brain rot
s tier goes to people who live or die on their own
roadmap pls for math major
What about Actuary?
No talk about private credit? D:
Optime!
Yoo broo, i wanted to ask... Do you think you can make a vid reviewing the certificate in quantitative finance qualification and whether it's a worthwhile investment?
yes Another one is the Free Msc Financial engineering from World Quant University
@@princedube5008Yes please because I’m considering starting the program
Like to become qt
what does this guy know about accounting, let alone other financial fields?
W video
do i need CFA?
bring back the beard Jesus
private credti?
bro said murders and acquisitions 😹😹
Unfortunately, this vid has a lot of generalizations. He’s not necessarily 100% wrong about accountants, but there’s several niches in accounting other than just managing the books for a company. The profession can be extremely judgement based, especially in technical accounting topics that a lot of companies don’t know how to account for during financial reporting season.
In my case, I have a way larger probability to be able to work fully remote. Pay isn’t Private Equity-esque. However, the supply of accountants keeps declining. So it’s a good career for people who go the client service route, care about WLB, and other quality of life benefits. These other finance careers definitely pay way better but the competition is so high.
As a CFA, I can assure you that a small asset manager/ portfolio manager is significantly more at risk than a accountant is for automation. There will always be some human interpretation necessary.
The small AM's near me just do basic equity research and add no value. Their AUM is suffering for it
What would you say about equity research?
In your opinion, how much risk does the accounting profession have to automation? I've heard some accountants say it isn't since it's more than just bookkeeping (to simplify), but it's more of also an advisory role to an extent. Would you say that is true? What is your opinion? I would really like to know, most of the information I know is from other accountants, such could be abit bias
Kinda accurate lol
No actuarial!
You look so different now
Without beard he looks like a youtuber called carryminati
Doesn't instill much confidence for an accounting student 😂 but by comparison to the others it's understandable.
General accounting = Financial Janitor
Auditing = Financial Cop
Tax = Financial Homie
Accounting is super necessary as it's the foundational building blocks of a company.
Here we go with accounting, you can’t talk about accounting as a whole, were you talking about Tax? Internal accounting? Audit? Those are so different. Accounting has the most longevity out of any of these, you can’t rely on AI to conduct an audit for you example, you can ask AI to find and pitch stocks.
BRING BACK the Jared Leto look
Why do I have to watch the intire video to hear the titles of the career. Ridiculous!
You haven't mention Corporate Finance at all.
I work in that area..
Nobody actually wants to work in that field though, hence I didn’t mention it. You can make a TH-cam video talking about it though.
@@CodingJesus are you telling me nobody is willing to work in an IPO process or Minibond issue?! 😂
Do you need a college degree for all these jobs? Or can someone hustle their way to it.
Lool of course
Any financial job you need a university degree
And keep in mind, in financial world status is a big thing. So when I say university degree, i am talking top program universities
not only undergraduate you need to have masters and even phd for roles like PM,QR,RM etc.
For just investment banking you'll have to be from Pen, HBS or other target schools otherwise the chance is very limited
There are a couple of VCs without college degrees, but you would have to go the Founder route, first.
😍😍😍😍
How about retail wealth management?
That’s Investment Advisor essentially
@@CodingJesus so relationship managers and client advisors are investment advisors? I see
no chartered financial analyst?
thats not a job
wow im so thankfull i am non of this ( im broke and starving)
What about Day Traders?
Not a career, so not included.
@@CodingJesus can be though. Are there not any professional jobs for day traders for like banks/institutions?
@@jtrades_he could have included it, actual trade desk prop firms still exist. No not talking about that bullsht topstep or apex trader. No actual places where people get hired to go in and trade at a desk, SMB capital for instance. He could have included it but he hates day trading.
Personally, I disagree with ranking on VC. While I agree it’s a great exit opp for those that came from PE and IB for something with similar/higher pay for fewer hours, I personally think it is one of careers in finance that truly is a bad choice at least from a personal development perspective coming right out of school. You develop effectively no transferable skills except for sales and communication (via relationship management, deal sourcing, understanding complex tech and biz models and pitching to partners, etc).
There are so many VCs out there that are completely useless and add little no value in their current role and their financial sophistication compared to PE guys is laughable. In many cases, they merely act as a conduit for family offices or HNWIs to potentially high multiple investments, the vast majority of which disappoint unless you get lucky with the right company.
If you take 10 random VCs vs 10 PE guys and ask each to build a business, switch jobs with each other, or ask them to manage a fund, my money’s on the PE guys all day
Are carry minati
TH-cam keeps recommending me no-names like this. I don't like it.
You’re right that accounting is boring, but it’s a great career path. As others have discussed, there’s a much more equitable entry point to accounting.
And accounting guys can do finance jobs, but finance guys can’t do accounting jobs.
You have nice eyes
such an L take on accounting, it’s not fun. but it’s literally illegal to sign off on audits and taxes with AI, so until legislation changes that (probably not gonna happen for another 50 years with this government). It’s not gonna go anywhere anytime soon in our generation only thing being threatened is data entry roles.
LOL only QT making YT videos
Stick to coding
Very pragmatic and unbiased video. Great take. 🫡
Just realised the chapter titles 😭😭😭
I think you’re missing the human element when you talk about investment advisory. It is very relationship based, thats how investment advisors grow a book of business. Chat GPT lacks the human element that people search for.
People are going to do business with who they know and trust, thats where Chat GPT falls short for now.
I do agree that it is very education based however.
Access to information has somewhat changed, but I think he is wrong about newer generations becoming more educated. You have to actually want to learn the material... to learn it. Besides, if you have the resources to need an IA, you also likely don't have time to delve into all the intricacies of personal finance.
You're right about Chat GPT. Also, besides extremely complex planning techniques, you can find everything you need to know about personal finance on Google. So how is Chat GPT gonna change things? lol.
My anecdotal experience in IA has taught me that the average joe needs some serious hand-holding to understand even the most basic principles of financial/estate planning, investing, etc. More access to info is not going to change this. And even if it did, would you really make a big financial decision based on what Google/Chat GPT said, without consulting an IA first?