Why I got bored of asset management...

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TIMESTAMPS:
00:00 - Intro
01:22 - Repetitive tasks
03:16 - Lack of fulfilment
05:25 - Boring work
06:45 - Sponsor (Shortform)
08:37 - Long hours
09:19 - Regret minimisation
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ABOUT ME:
Hey! I'm Afzal Hussein. I make videos on banking and finance, careers, productivity and lifestyle. I'm also building Simpley (a marketplace for career advice), and I teach on Skillshare. Before all of this I started my career working at an investment bank called Goldman Sachs. Hit the various links above to find out more about me. Thanks for passing by!
#AssetManagement #Finance #Careers
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[@AfzalHussein]

To get a 5-day free trial and 20% off an annual subscription join Shortform through my special link: www.shortform.com/afzal.

[@harrystephenson3629]

watched so many of your videos over the past week - they're so insightful and always class

[@hamzayusuf9206]

would love to get some book recomendations on tech/finance etc,love your videos as always!

[@marialeonorcobo8962]

This is the type of video that I wasn’t searching but for sure needed to watch. Thank you Afzal!! Your advices, through your experience, are of so much value to me, a 23 year-old woman starting to get hand-on experience in the banking industry

[@AfzalHussein]

Pleasure. Thanks for watching!

[@lynchinvestor9758]

I think there quite a significant difference between working in a sales position in AM or working as a pm or analyst for assets, having only worked on the pm side so far, I’m getting the impression that those sales jobs are the same thing whether in ib, am, or whatever Finance job. It also matters a lot which asset classes you cover. My opinion: Do not got into am if you are not passionate for investing

[@Akki420ish]

How is your experience in PM side? I'm also looking to get in to the same domain in future.

[@bryanmarty7085]

Meeting minutes are incredibly important; you have to keep a positive attitude about it and just do it otherwise it will absolutely bite you in the arse - Management Consultant

[@user-zx9rg9io4c]

Tbf that ad was nicely incorporated into this video, I don’t even read and still went to the website

[@AfzalHussein]

Haha thanks!

[@NomadLovesUs]

Great video man! How about you make a video on the fund/product suite in asset management. For example, commentary on legal structures such as OEICs, Unit Trusts, Investment Trusts, ETFs etc.

[@HaineGratuite]

great video! As someone working in Corporate Banking but being interested in AM, this was very insightful

[@AfzalHussein]

Thanks for watching! :D

[@padraigbolger5813]

This was a really great video Afzal. A really valuable perspective.

[@AfzalHussein]

Thanks! 👍🏽

[@orwelltheorem]

Top tier content, Afzal.

[@AfzalHussein]

Thanks!

[@nickk3896]

How to win fds and influence ppl is def my fave book!

[@MrTjStylez]

I like how he made this video after I got an offer from JP Morgan 🤣🤣

[@AfzalHussein]

😂 it's not all bad, dw!

[@mrinalverma1421]

Been in Impact Investment for about 2 years - so basically working in the commercial team of an impact asset manager. Even here, the fulfilment aspect is not that evident though more than regular commercial asset management. However, the fact that its super impact focused reduces the compensation we get compared to general commercial firms.. so I'm already considering switching too. Great video. Would definitely say that people could consider working for an impact asset manager also as the investments there are a bit more meaningful to do, but here I am, also bored and un-fulfilled after 2 years....

[@GaryTheAssassin1]

Hey! I’m going into impact investing with an asset manager now. Do you think more senior levels start feeling more of the impact side of the investing? What about research components? I think thought leadership is super interesting and I am hoping to find most of my fulfillment in those realms.

[@mrinalverma1421]

@@GaryTheAssassin1 Hey Justin! Happy to help out. What sort of role will you taking in the field? Analyst? Associate? Investment Manager? Portfolio Administration? Fund Management? Based on that I can give you a more coherent response. It would also depend on which Impact Asset Manager you go for and what side of it, such as private debt/equity, listed securities, asset finance etc. Let me know a bit more of the specifics and I can tell you. Overall, I think the commercial teams find the most meaning and feel the impact side of the investments the most, but depends on how the org. is structured. Higher up levels, in the investment teams, such as investment managers would tend to feel that even more since they are the ones that bring in the investments. Ideally that would allow you to find companies you're passionate about, build a case, get approval and invest in them, so a very direct impact based relationship. As covid settles down, we go back to meet our clients in emerging economies as well which should definitely increase some job satisfaction as well.

[@blackice214]

That’s why I switched to tech same high salary but I get to develop virtual infrastructure and use a variety of systems that are fun. PP, excel models ,meetings in finance are all the same different assets it got boring after 3 years

[@asd-dr9cf]

How did you switch to tech from finance? It seems like such leap in knowledge/skillset..

[@carddestroya]

@@asd-dr9cf I’m interested in doing this too

[@josephbrennan370]

Yeah how did you do that transition?

[@blackice214]

@@asd-dr9cf Well I started by learning high level coding languages like SQL and Python, learn how to use tableau and Alteryx for data visualization and ETL and incorporated them into my finance job. of course I sprinkled some things on my resume that I didint do at my job that said I did. Key things is know how to explain how you used tech in your job and describe situations and outcomes in the interviews, part two is I’m in my 20s and switching fields is easier when you are young

[@blackice214]

@@josephbrennan370 I kind of explained it above, but it required learning during personal time which for most of us is fun, it’s just in tech it’s more exciting since every 5 years the work you do changes shoot even 2 in ETL. The compensation packages in tech are far superior too and can work remote when you want to since the nature of the work is very technical and does not require a lot of meetings.

[@acoustic230]

Thanks the video. Can you share your regret minimisation framework please?

[@djuliac9312]

Great video!

[@AfzalHussein]

Cheers!

[@lunghunglin5729]

Dear Afzal, Great video! I am wondering if the reasons you mentioned also applied to corporate's finance department? Or does anyone know the environment, work style in corporate's finance department?

[@string22]

Afzal you didn't work in asset management at goldman sachs. You worked in consultant relations at goldman sachs. Asset management is managing investments in the market which is fascinating and very complex/global in nature.

[@resa574]

Asset management at GS hires out of BSchool from Harvard and Stanford and extremely hard to get in It’s probably private wealth management or sales, marketing, or strategy

[@abdullahebrahim4045]

Yes your video do benefit us!)

[@AfzalHussein]

:D

[@Slayer2298]

Great video man. Did you quit your job before you started making money from other pursuits or no?

[@ladyp9793]

Hi, and, above all, thank you for your videos, they are quite interesting, i would really like to watch a video about public speech, i am more into linguistics and this kind of topics, so it would be more than useful to me.

[@sachinsawant8733]

Can you please make video on books those you read every day

[@darshitshah7095]

Hey bro! Just wanted to ask you one question: Is the US CMA exam useful to become an investment banker ?

[@taresy6789pp]

Investment banks are so hard to get into especially Barclays,

[@isaiasyoyo]

Shoe dog is a great book !!

[@AfzalHussein]

Agreed! One of my favourites of all time!

[@shrutijain9590]

Please tell some resources from where we can learn Financial Modelling

[@inspireitoday]

Hi Afzal, I want to be am investment banker. I'm preparing to do MS in Finance from an USA university. However, I have no idea which courses or skills I need to learn to get started.

[@mikealike5000]

All this also applies to consulting as well

[@persononinternet7868]

you talked about other jobs in the same industry that had lower hours for similar pay, what jobs have similar pay with lower hours?

[@blankblank582]

working your best years to retire in the years you are at your weakest seems like the worst risk to reward trade you can do.

[@nayemMmm]

Hello brother. I was wondering why you said in this video that " my friend from other finance job is making more money than asset management" Does that mean there is entry level job that pays better than asset management but working hours is less?

[@brycebrubaker5631]

You said that you had friends across the industry working less hours and enjoying a better work life balance and similar pay. 8:52 What positions were your friends in? You also made mention that you didn’t want to regret being in the same position 40yrs down the road. Is Asset management hard to move up in?

[@faisalmullick9309]

how much are they paying you and through cfa only u got ur job?

[@primrose5765]

lol. My friend said exactly same things 4years ago

[@annajones9701]

Working for a smaller firm can actually make you more money than a Goldman and have more control with so much politics and red tape. Goldman and many others are not the Place they are made out to be - like a Rolex with so much marketing for the college grads. Goldman and the others just have good marketing

[@williamhoward5100]

Short form sounds like cliff notes

[@Chilunem]

Hi afzal I’m an African American 🇺🇸 and I’m in my final year of college and I’m going to get my MBAs afterwards. I have an issue concerning how my hair would be an issuin the work place. As I would love to know how my hair would be governed at work.

[@solab0y]

Short and natural. Maybe a fade.

[@Shivangishiva]

Give some ideas to average person to make improvements in career and life at late 30s and not satisfied with their choices they made.

[@AliAli-un3nf]

Forget all that. Bottom line how much did you get paid?

[@bigbanknewyork3655]

I could definitely see asset management being boring. Invest that $100K and watch it grow like grass over time. Exciting. Not.

[@imicca]

I think in general most finance jobs dont add value or be useful to society.

[@HK-ho3rm]

..

[@AfzalHussein]

..

[@nkunam]

95% of fund managers underperform, and yet 99% of them keep the jobs. Asset Management industry is filled with incompetent and thus highly insecure people.

[@alanandrew3140]

Most finance jobs are haram , thank god

[@manvithkankipati4658]

First Comment

[@AfzalHussein]

:)