I'm almost 30, I live in NJ, I currently hate my career path, and I have next to NO education. I've been working in cellular sales and I recently changed jobs from a reasonably well paying job in which I made about $32,000 per year but only work 20-30 hours a week to a slightly worse paying job but with a lot less stress and a better title and room for advancement... but I don't think I'm happy with this job either. In fact, I don't think I can be happy in this career no matter how far up I go or where I am working. I'm done with retail sales, it's just not enough money for the amount of stress that I have to put up with... and to be honest I feel like I can do better with my life.
I'm always looking for a new career, and it's getting to the point where I can't stay where I am anymore because my home life is starting to fall apart (not because of interpersonal problems more because of health and age related issues) and I can't support the people around me the way they deserve and have done for me in the past. I also have a wedding coming up in the next year and at this rate I'm not going to be able to pay for the wedding we want, or much of any wedding. I need to change and rather quickly.
I've been looking at jobs working in banks and finance recently because I've always been pretty good with my money. I've never been in any real debt, I always save money, have a 401k, have a well balance budget and find myself to be responsible when it comes to money. I've also noticed that a lot of entry level finance/bank jobs don't require a college degree which is good for me because I don't have one and couldn't afford to get one any time soon. Another plus is that these types of jobs pay decently well and don't require relocation or lots of travel, something I can't afford to do with the home situation the way it is. I found a job just a few moments ago that pays $35,000 per year, which is more than I currently make but more hours as well... but I suppose the inclusion of health insurance and such make up for that.
Sorry for the long post, I find myself getting very long winded these days. Anyway, can anyone help me with general advice when it comes to the finance industry? What it's like, education needed down the road, good resume tips, pit falls to avoid etc. As always, thanks in advance for any and all advice.
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Starting as a teller at a bank is much more manageable for someone with little education. Good hours, stable work, holidays, and you can work your way up internally. Having any cash-handling experience (retail) would be a big plus.
This is exactly what I was thinking. I was just doing the laundry and was trying to associate my retail experience with banking positions for the resume I'm working on. Anyone have any tips on how to do this?
Yeah it pretty much is. Different banks have different rules though. From my experience, Wells Fargo was really big about pushing stuff on customers, where as at Chase bank I didn't feel pressured to try and sell things. At most if I noticed a customer could use a particular product, I would refer them to their personal banker.
Yeah this too. As soon as I graduated they offered me a personal banker role, where as one of my coworkers had been trying to get a promotion for several years and was passed up due to lack of a degree. She would have been a good banker too.
Also, you could try call center work in a finical firm. You can get your foot in the door. They usually pay pretty well, with benefits and such. And some even offer tuition reimbursement, in case you want to get a degree and start ladder climbing.
However, just remember that any job, short of the mythical dream job, is going to suck. That why they have to pay you to show up. I encourage you to seek to better your life, just be careful of the "Grass is always greener mentality".
Also, maybe track down a copy of this book.
Steam
Only the strong can help the weak.
This is almost exactly my plan step by step. I do plan on returning to school once things settle, for better or worse, at home and after the wedding is paid for and everything is in place. My first position, and probably the next few, would be more entry level and mostly for the experience. I don't have any illusions of being a bank teller being that much different from my current retail job other than it doesn't sound as pathetic (as a career) and it is slightly better paying. I also feel like banking will always be more professional were as retail is getting more and more geared at minimum wage teenager positions full of punks. I could not stand that my former boss was 5 years younger than me and was always saying things like "when you've been doing this as long as me"... meanwhile I had worked at the company for 3 years longer than him. But thats another story for another time. Again, this is all solid advice and I'm going to start working on my resume once I get home from work.
It can be a nice switch, but when your dealing with a cell phone, the complaints are about the phone / service / high bill. When your dealing with a bank, you'll be dealing with people you CAN"T PAY RENT, CAN'T BUY FOOD, etc. So they will get a little more aggressive a little faster just because money is sooooo important.
Due to your lack of education I would try to get a job as a teller although it may be possible to get a personal banker job without a college degree, but not without a high school diploma (not sure on your meaning of "NO education"). Personal bankers/tellers have absolutely nothing to do with an education in finance, its all retail but just looks fancier. I majored in finance and trust me, you dont need a college education to do this job, but they like you to have it.
You will also probably have to prove you are good with your money as a lot of banks submit you to a credit check and you have to have a score high enough for them to not have to pay extra to insure you/bond you.
From my experience tellers will make around 23-27k a year, but that can change area to area and my figures are a little old. Also some teller positions have commissions for referrals so I guess it depends on how aggressive you are.
The customer problems you have can be way more serious than the cell phone gig, but you will learn how to handle them.
Be ready to answer the interview question where they ask you to talk about an experience where you turned a problem into a sale or something like that. They love that crap.
As for my personal education, I do have a high school diploma for what that's worth. I have some college education, if I had to guess I'd say 15-20 credits maybe. I've never been much of a school person and I while I was in college I felt like I was going because it was the thing to do not because I wanted to. Now that I'm older I would have liked to have finished for no other reason then to have a degree and be able to use that to put myself in a better position in life. The sad irony is that I currently make to much money to qualify for any financial aid but I don't make enough money to return to school by paying for it myself... so I'm stuck on the outs until I can figure out a workable career that will pay me a little better so I can return to school to make more money later... jesus I've wasted so much of my life waiting to do something and never having a clue what to do.
@Gnomercy:
One of the positions that actually caught my eye was Personal Banker, seemed interesting. Maybe you could tell me a little more about that position so I know what I should do to prepare for it? Starting salary for the one I looked at was already more than I make currently so that would be helpful to start with.
Also, though you may not qualify for financial aid, you most certainly qualify for various tax credits (American Opportunity, Lifetime Learning) that will help significantly defray the costs of pursuing higher education, particularly if you start at a community college.
This isn't the most likely opportunity for you, and I'm not trying to push you this way, but have you thought about 4 years in the air force?
It's kind of "eh" for four years, but you can go to college some while you're in and finish up (basically for free) when you get out.
TylerJ on League of Legends (it's free and fun!)
At smaller banks that arent so sales focused you are like a doctor to their finances instead of their health. If they have problems they come to you and you have to come up with options and solutions to fit their needs. You need to be there go-to person when they have a money issue or inquiry.
Some banks also have you do the job of a teller which is mainly operations, anyone can do that with enough practice and attention to detail. It's always confusing and perhaps overwhelming at first but if you just dive in and dedicate yourself to learning it, it is easy.
It may be tough to get a job as a personal banker without a college education but I know some banks dont require it. My big bank job required a college degree and I had to get my Series 6 and 63 investment licenses and life/health insurance license as well. My smaller bank job doesn't require a college degree, but college grads always get picked over non-grads.
Good news about banking is that you can (Depending on where you work) go to nightschool. I'm currently going to nightschool after work to get my MBA and all it took to accomodate it was to shift my schedule around by 1 hour 1 day a week. Lots of bankers do this, and some banks even help pay for school after X years.
Let me know if you have any other questions.
Nope, never have and they wouldn't take me even if I wanted to join up. Besides being color blind and near sighted I also have a gimped out shoulder... there was a time when I had tried becoming a helicopter pilot but my color blindness completely disqualified me from that. *sigh* just another career down the tubes.
@Gnomercy
The Personal Banker at a smaller bank sounds like a lot of fun actually. Not saying I can't sell, since that's pretty much all I've been doing for the last 5 years, but helping people with their money seems like it'd be something I would want to do. I like the idea of being able to work till 2 or 3 in the afternoon and then go to school for a class or two while still getting home at a decent time. Last time I attempted night school I was out of the house from 8:30am till 10pm and I ended up burning myself out after a semester.
I really need to update my resume tonight, I made the attempt last night but got home late and am still not feeling so great from my recent illness. Do you have any tips on making a good resume? Thanks again!
Unless you're talking about working part time and then taking classes on your own dime.
There also aren't very many part time Personal Bankers, they are usually full time. if you want part time I'd look at teller jobs.
For your resume, highlight any cash handling, operations, customer service, and SALES skills that you have and used in previous jobs.
Also any supervisory and team member skills you've been trained/learned your way into. Emphasizing teamwork and any overseeing of other employees helps!
TylerJ on League of Legends (it's free and fun!)
They get your resume and decide if you are what they are looking for so then you get an interview.
At the interview, they ask you questions to determine if you seem capable of conversing without seeming like a total weirdo. They then decide if they can stand working with you in close quarters for 8 hours a day, if Yes, expect an offer of employment, if no, expect no callback.
As luck would have it I have a fair bit of management experience between my last 2-3 jobs so I should have no problem filling out my resume with that. I also think that my decade of cash handling and nightly deposits should help me land a job at a bank. I just got home from work so I'm going to eat some dinner and then work on my resume a little bit, if I have time I may even apply for a few positions I've seen online.
Anyone have any experience with only working a new job for a month before deciding to quit? I won't quit until I have a new job, obviously. But, I find myself flummoxed about how to handle the whole situation. Should I put them down on my resume? What do I do if I'm asked about it on an interview? My mind is boggling.
TylerJ on League of Legends (it's free and fun!)
Air force age cut off was 27 when I last checked, 24 if you want to fly anything. Marines are 29, army and navy are substantially higher. Turns out none of the jobs I'd want in the military allow you to do them if you're colorblind so I bowed out of that career path, but I looked into it quite heavily and was told by several recruiters in both the Air Force and Marines to basically get lost.
Edit:
If you just want a change of career you may want to pick something you can half enjoy, I know lots of people who enjoy accounting but would hate working at a bank. Maybe go about this whole thing the other way around, think of something you can enjoy and take a couple classes, then try to find a job doing that.
I'm not entirely sure that people can actually enjoy their jobs, I never have and none of my co-workes ever do either. If I had any idea what would make me happy I'd jump at it in a heart beat, but banking seems interesting. I have a dumb question, what do accountants do all year when it's not tax season? I assume working at a company doing... paper work? I honestly have no idea. Another thing about banking over accounting, at least in the short run, is I assume banking has a lot of entry level positions whereas accounting probably requires more of an education... again just assuming because I don't know. *sigh* I will never understand how people just know what they want to do for a living.
I've enjoyed every job I've worked. It's a mindset thing, not the job being fun.
Accountants do bookkeeping and auditing out of tax season. There are entry-level positions for accountants as bookkeepers in small businesses and such, but a degree is ofc much easier to get a job with. Banking's entry level positions are basically teller, but you might find a hidden gem.
I've found what I want to do for a living because it pays the bills, I work with good people and I don't hate it.
TylerJ on League of Legends (it's free and fun!)
Also, as for the 1 month of employment. One of the worst thing you can do is show gaps in your employment. If you can skip it without a gap, then go for it. Otherwise, you should disclose it. Or the employer is likely to ask you what you were doing during that gap.
I find this part of the message kind of troubling, to be honest. It makes it sound like you're going to walk out on someone who needs you because you'd rather not support them at all because supporting them insufficiently is really stressful to you. I don't mean to derail or say you shouldn't look for a more fulfilling job, but I also don't want to advise you to bail on your family or anything. It's always good, when you're looking for a new line of work, to examine your reasons for wanting to change careers. (by the way, who in the hell are you selling cell phones to that is sending you death threats?!)
That said, there's nothing wrong with looking into finance, but know this: if you try to go work as a teller, you're not going to up your income by that much from what you were making before (it might very well be lower) and those employees' advancement opportunities are going to be limited to branch management and customer service. You're not going to break into derivatives trading or risk analysis starting there. There's a certain level of requisite education to go much beyond the (totally respectable!) $32k you're earning now that you just don't have at this point.
That's not to say it is a terrible intermediary position while you are working towards something else. One opportunity you might consider if, as it sounds like you do, you have a very good credit score, is to work in a bank branch for a few years, grab an associate's or even a bachelor's degree in accounting or finance, and then start looking for work as a Financial Adviser. Your responsibilities range from giving investment advice to your clients to actively managing client portfolios with a power of attorney arrangement. You could look for a firm that provides those services or even go into business for yourself if you're really ambitious. If you're good with money, you understand the markets, and you are willing to work really hard for the next few years getting there, you could increase your income very substantially.
Also on Steam and PSN: twobadcats
I never meant to sound like I was walking out on anyone, in fact it's the opposite of that... I need to make a change so I can afford to take care of people. I don't mind the stress of taking care of people, I mind not being able to do it the way I feel i should. I need more money, any amount more, so I can funnel every penny extra it to them. If I can use this as motivation to get myself a job I won't hate then bonus for me. But, even if I end up making more money and hating the new job at least I get to make more money which would make the home life easier.
I know I'm going to need an education, but I can't get one without making slightly more money so I can at least afford a class a semester. I figure a foot in the door plus working on my education is better than just working on getting my education because at least then I'll have experience under my belt as well. I'm actually kinda torn between banking and accounting... I didn't know there was so much that I would be able to do as an accountant and the more I look into it, it looks more and more interesting.
Also, $32,000 (pre tax) a year in NJ is next to nothing... rent in a shit box apartment would run me at least $12,000 a year not counting any utilities... also it'd be in an area that would more than likely get me stabbed bi-monthly. Couple in super expensive car insurance, food, gas and super high taxes and I'd need at least $45,000 a year to able to support myself adequately and safely.
*Slightly off topic*
Ohhh the scum bags I work with... they are truly the worst bunch of people I have ever encountered. Today alone I had a guy shout he was going to "ruin *my* entire life!" because I ran his credit and he required a deposit on an iPhone... as though it was my call. Another lovely lady said she would love to "kick *me* in the dick" because we had sold out of 32gb iPads before she had made it down to the store because supposedly she had called at 10am to reserve one from me... I wasn't at work at 10am and we don't do reservations... but she swore it was me. You can not win with these mouth breathers. And as I was on my out of the store for the day another person told me to "get my scrawny ass behind the computer and find him a 64gb iPad before he decapitates me and rapes my neck"... actually 100% what he said.
Really sounds like you need to get your college degree if you are that focused on $$$
Agreed, no ENTRY level job will do that, however if I can get in and move up the ladder while working on my degree I have a decent shot of making decent money. At least I hope I do... I'm going to look a little more into accounting, seems interesting.