Operations Analyst in Investment Bank: How helpful?

[lucielseven]

Hello, I recently got a job offer as an Operations Analyst in a well-known Investment Bank. My final goal is to work as a quant (or more generally, in the Financial Engineering industry) and was also debating going into graduate school for MFE. How helpful is experience as an Operations Analyst in an IB would be in both relevancy to Financial Engineering careers, and in terms of adding credibility for future quant-related job securement?

Thank you.

 

[AyeRasputinTheTasteful]

Operations/Product Control are not quant positions and you will use no financial engineering concepts in the job. With that said, it will give you exposure to the trade capture process and will give you some good insight into the underlying mechanics of, e.g., P&L attribution and FOBO reconciliation. Having experience in Ops/PC at a BB bank certainly will add credibility to any position you apply to in the future. My advice would be to take the job, learn about the industry, and then leave after 2-3 years to pursue a MSc in Quant Finance/MFE (you'll at least have some $$$ to put towards your education). The experience certainly won't hurt and will give you some tractable product knowledge/something to put on your resume - but if you want to eventually become a quant then the MFE should definitely be on your radar.

 

[Ken Abbott]

@AyeRasputinTheTasteful has provided you with some very good advice here. Your first job should a) serve to convince you that you're in the right overall field, i.e. finance, and b) give you background. If you change your mind, that's ok - in my experience, most employers will allow you a "Mulligan" on your first job.

 

[bfm.my]

Operations/Product Control are not quant positions and you will use no financial engineering concepts in the job. With that said, it will give you exposure to the trade capture process and will give you some good insight into the underlying mechanics of, e.g., P&L attribution and FOBO reconciliation. Having experience in Ops/PC at a BB bank certainly will add credibility to any position you apply to in the future. My advice would be to take the job, learn about the industry, and then leave after 2-3 years to pursue a MSc in Quant Finance/MFE (you'll at least have some $$$ to put towards your education). The experience certainly won't hurt and will give you some tractable product knowledge/something to put on your resume - but if you want to eventually become a quant then the MFE should definitely be on your radar.

Completely agree. But I would give myself at most 2 years and then start MFE. 3 years is a long time.

 

[kakttt]

Operations/Product Control are not quant positions and you will use no financial engineering concepts in the job. With that said, it will give you exposure to the trade capture process and will give you some good insight into the underlying mechanics of, e.g., P&L attribution and FOBO reconciliation. Having experience in Ops/PC at a BB bank certainly will add credibility to any position you apply to in the future. My advice would be to take the job, learn about the industry, and then leave after 2-3 years to pursue a MSc in Quant Finance/MFE (you'll at least have some $$$ to put towards your education). The experience certainly won't hurt and will give you some tractable product knowledge/something to put on your resume - but if you want to eventually become a quant then the MFE should definitely be on your radar.

Thanks a lot for your input, Aye
Im not OP but in the exact same situation. I wanted to be in the front office and do quant-related work but I ended up being in Operations as there were no other open positions when I was looking for a job....
I got so encouraged by your advice, and I will pursue what I want to do for my future career!

 

[AyeRasputinTheTasteful]

Completely agree. But I would give myself at most 2 years and then start MFE. 3 years is a long time.

Reviving a dead thread :^)

Yeah, I agree. Two years should really be the target. Equate it to a grad program.... but with much more tractable product knowledge and a salary

Thanks a lot for your input, Aye
Im not OP but in the exact same situation. I wanted to be in the front office and do quant-related work but I ended up being in Operations as there were no other open positions when I was looking for a job....
I got so encouraged by your advice, and I will pursue what I want to do for my future career!

Good luck and congrats, kakttt! I am of the firm belief that some job > no job. Get some experience and use that to your advantage when trying to pursue your dream position. It won't be easy, but you will have some actual real-life practice, which, in my view, trumps pretty much any degree. Theory is one thing; applying it is something else entirely. Hence my disdain for most "economists"

Let me know how things turn out or if you want any additional advice!