Possible job switch original, learning, performer, job

ikoreaii

Hey guys, I mainly lurk in the shadows and read here but for once could use some input. I'm in toronto and graduated with a bachelor's in 2009 and was having hard time finding a "decent" job at the time, so I took a job as a personal banker for one of the big 5. Been here for just over a year, and my original plan of using it as my "foot in the door" doesn't seem to work out that well. As I'm learning, retail banking a) tries to keep you around if you are half decent performer, making it harder to move laterally, b) was given a small raise which locked me in from applying internally for other posting for another year. c) contrary to point a, theres still low job security from what i've seen. I passed my level 1 in december and scrambling to pass level 2 in june (im not too optimistic on it though when facing reality of the test).
A friend is offering to set me up for an interview at State Street for Fund Accountant position.. After doing my research I found that
a) Work is hardly challenging/ very repetative
b) Start salary is in mid to high 30's while I'm making 40k at retail.

So my dilemma is, do I even bother with the process? Is taking the a small pay cut worth the experience and just how relevant is it? (to me so far FA looks like a glorified processing clerk). Staying where I am does occasionally put me in front of a director in the right departments, but so far haven't paid off... thoughts?

cityboy

Get out of the retail bank and get into the commercial bank in possibly a support role. Its a better launchpad for your career.

Houjichasan

I would like to add that if you are decent at sales or enjoy interpersonal interaction it also means that you're likely not going to enjoy accounting, in fact you may hate it.

I know that that's the case for me, I'd take the pay cut for a position as a personal banker if I could.

HuskyGrad2010

mmike, forgot to say, I'm in Toronto too
probably there is still a large amount of people in the industry unemployed or underemployed and that is why we are having such a hard time



Edited 2 time(s). Last edit at Wednesday, May 11, 2011 at 06:30AM by florinpop.

meghanjackson

Thanks for the input guys! Pretty much confirmed my own thought process. I'll pass on this one
@ black swan, yes I am

neil1234

Mmike, did you say you're in Toronto?

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Analyze_This

Stay in retail sales, your future is much better there.

Five years ago a guy I started the CFA with was in the same role as you, he is now a PM in the PWM division of a big five bank and I am asking him for career advice.

If you switch to fund accounting you WILL regret it.

bpdulog

What do you want to be doing? If it's investment management, research, etc... FA is not going to really help you get there.