For any anons ( I know not many) who actually work in the finance industry? Are you worried about automation?

For any anons ( I know not many) who actually work in the finance industry? Are you worried about automation?
I'm 25, finished a degree in Business/Econ/Finance. Work a low level Insurance job and I've been studying for the CFA level one, and it dawned on me, what if this is a massive waste of fucking time. The CFA takes approximately 3-5 years on average to hold the Charter. On top of that, competing with other CFA holders means most also go back to school for there MBA's, but within finance, what are the odds that it's genuinely not worth it?
I imagine things like Hedge Funds, Private Equity, Asset Management are pretty secure, but what about analysts? Especially considering analyst is how the vast majority get their start in finance.

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I graduated with a business degree, literally went back to college a few years back and studied computer science... Have a feeling that automation will take over and the only stable path will be coding the bots or maintaining them.

Im a CPA MBA CFP, Im planning on retiring within the next five years. The entire industry will be replaced by Ethereum smart contracts sooner than anyone predicts

That fucking video kek

user, I'm a CFA at a hedge fund. Stick with it it's worth it.

get that Charter
don't let anyone shit on your hopes and dreams of becoming a member

>charterholder here

the juice is worth the squeeze. also worth investing in stretching techniques. i developed back problems.
GET THE FUCKING CHARTER!

stick to Schweser notes for lvl1. it's a walk in the park
but for II and III fucking study your ass off and rape the end of chapter questions.

I'm more fascinated with the drawing. I find it to truly be Art.

You'll have to forgive me but those are some serious accreditation's for an user on Veeky Forums. Not impossible, but hard to believe. Also if true, could you elaborate a bit on why you think that would be the case and why someone like me should or shouldn't continue on the path.

I've been thinking about going back to school for either something in medicine or computers, but it seems like I should make an attempt at finance at least seeing as how I worked as hard as I did for my shitty 35k a year job.

That video is hot af. Anyone have more videos of her? Pretty sure it was all pretty much purged

>sup sup sup

Corporate finance

Currently a 22-year old M&A analyst. Automation won't happen in our lifetime. People still want to know that humans are behind valuations. There's an autistic level of detail that goes into preparing materials for clients that not even machines could match, at least not yet. When a machine can format financial data and spit out """"analysis"""" like "in the year ended December 31, 2017, X Corp. saw gross margin increase slightly from 25.3% in the year prior to 25.4%," then you can worry.

CPA and CFP should not be "hard to believe." They are literally retard-tier, particularly CFP.

brilliant.

It's not that I don't think the Charter holds value, but without going into alot of detail, my home life is difficult to say the least. People say I live like an immigrant from the early 1900's in terms of the responsibilities I've taken on in comparison to other people my age. (Family, household etc.). I'm trying to gauge the level of difficulty involved in terms of competition, not purely reading material.

HAHAHAHAHAHAHAHAHAHAHAHAHHAHAAHH

aHAHAHAHAHAHHA

>accurate assessment. assessment is accurate

People have it tougher than you. Most people pursuing CFA are putting in 80-100 hour weeks on top of household responsibilities. If you want to succeed, stop being a pussy.

Interested in this as well

Good for you dude, I wish I left my whore of an ex before college and worked harder at gaining connections than keeping my household afloat and giving that bitch my time. Now I'm trying to catch up desperately. But I digress, machines can outperform humans in any task that follows a verified set of sequences, how much of finance work do you think will be automated and what effect that will have on future employment?

>You'll have to forgive me but those are some serious accreditation's for an user on Veeky Forums. Not impossible, but hard to believe. Also if true, could you elaborate a bit on why you think that would be the case and why someone like me should or shouldn't continue on the path.

>and I've been studying for the CFA level one, and it dawned on me, what if this is a massive waste of fucking time.

There's your answer. You can be replaced by a few lines of code. Luckily, you're in a position to purchase a small stake of the network which will make you obsolete.

Buy in now.

Anyone have the real pic?

A good book to read on this subject is Average is Over.

When I worked in the City of London at the turn of the millennium there were over 150,000 people working in Finance. There are now, apparently, fewer than 50,000. Take that as you will

routine.
plan ahead.
stick to plan.
execute the shit out of it.
mine was 3 hours a day (reading CBOK and problem solving)

cash out all PTO before the exam, detox from work and the cascade of bullshit that follows it. practice exams, practice exams, practice exams. problem solving problem solving problem solving.
orient yourself with the structure of the exam. TIME IS OF THE ESSENCE> they squeeze you with time.
drink plenty of water before the exam. urinate once or twice before stepping in. game face for 180 minutes.

50 hours at work, 10 in the gym, easily 30-40 at home keeping my lunatic family together. I'm putting in the time, and I am a poor immigrant kid, but that's not the point. I have no issue with the work itself, if it carries with it opportunity. I'm trying to gauge the odds of that opportunity.

Lol online mba I bet

M&A user is correct. Valuation is too difficult to automate.

because they denizens of londonistan have embraced islam and have figured that traditonal finance is not halal

it's a video not a pic

hahahaha
they'll automate it soon. as long as it improves the bottom line

CFA is worth it if you genuinely enjoy investing and want to make a career of it. I've seen burnout charterholders who just do financial planning-type stuff at tiny wealth management shops, but for those with drive CFA is a golden ticket.

Ten hours in the gym a week? Are you retarded? It should be like five tops. Use your time more efficiently

Automation will replace everything, nothing is safe in my opinion, and it's only a matter of time as robotics and software along with basic AI programs are affordable enough to begin replacing large sectors of the economy.

"Soon" needs a more accurate assessment. From my perspective 30-50 years is not so soon that I shouldn't double down on the workload. 10 years however reducing my chances of success by say 20% is serious enough for me to take a step back and consider my options.

There's no way to do it (I'm a PM at a megafund).

I do fight sports as well. Workouts aren't just me lifting things up and down. Lots of runs, lots of sparring.

It sounds like you're not ready for it yet. General rule of thumb is 300hrs of diligent study per level. You'll never get it done if you are prioritizing workouts and family time.

Jesus, I work 10-15 hrs a week and pull 35k. Only one semester at community college ta boot.

dude
scale back the gym

I agree, and it's why I wanted to get some feedback from my dear friends on 4 Chinz. I've come to that very conclusion and I've laid the groundwork for how to optimize my chances of success in the fasted allotted time. That involves me basically not going to the gym anymore and negating a good chunk of the less burdensome responsibilities of my household. I'd like to gain a bit more insight and confidence in myself that I'm not making a fools run at it.

if you're that worried about it, either learn to program or shack up with a programmer so that you can help create the automation that is coming, since you know what is needed and what is most susceptible to automation

can i come work for you!
zero hedge fund experience.
worked in Saudi Arabia for 6 years. managed $3 billion in assets for a single family office.

i'll start in the mail room if i have to.

Doing what

Alright you fuck, you can decide LARP or not but I work at one of the god tier BB as an analyst on the distressed desk and no. If you are front office you do not need to worry about autmoation. Yet. You bet your ass its coming though, and guess what finance is bullshit anyway. The real ballers have gone on to buyside. PE, and HFs with specific strategies. The days of global macro are fucking over because that has been 100% automated. But no automation won't be replacing guys like me and because clients and MDs still want someone to blame and hold responsible to for valuations, client decks, presentations, etc.

Being adept at code and programming however, is much more lucrative in the long run combined with financial experience. I say stay in finance and continue to go forward but fuck the CFA (buy side wants to see your "edge" and CFA no longer holds the same "edge" factor as it used to) and people are starting to realize most MBAs are sham. They're just 2 year expensive vacations for burnt out bankers but you still need to go to a top 20 MBA for it to be worth the ridiculous cost. My plan is to learn how to code and apply it within finance because that's gonna be the way to maintain job security.

What do you want to do in your career? CFA isn't guaranteed money but CFA + drive is. I've seen CFAs with no drive earning $70k - in that scenario the charter is not worth it.

No. Go back to the family office. That is truly the dream.

huehuehue
>family office
>dream
>kill me

Curious, how'd you like single family office out there. Is it comparable at all to family office stateside?

Top tear goal would be M&A. That's a very long road for me, wish it wasn't so, but just the nature of my life's journey.
Graduated with a 3.7 GPA at an average state school for my Bachelors. Did extra curricular's (Started a business/investment club, some off campus athletics, light volunteer work at my church), I was working at the time in Sales, did well in terms of production numbers, I get lots of sales job offers because of it. Worked for my father's business for a bit after, then did some account management, laid off for a bit and now Insurance. Also as I mentioned before, 25.

HELL TO THE FUCKING NO

zero estate planning
also (saudi arabia is a unicorn economy, no taxes!) hahahaha
>corporate taxes ZERO
>income taxes ZERo
>cap gains taxes ZERO
it's awesome

most affluent saudi families structure their empires in a way that allows them to embezzle and fuck over their family members. it's awesome.!
they have no grasp of corporate governance or separation of entities.
they literally treat their businesses like ATMs

Tier*
Sorry I'm tired.

you seem tiered
keksimus

I am user. Tomorrow is Friday and I go into the office to do bullshit

Yazan?

I've found Saudis to be the most vile and virulent creatures i had the displeasure to entertain. very dishonest, entitled, greedy, racist worthless pieces of shit. i can't wait for their shithole back water country to be embroiled in a civil war.

By comparable I mean the assets you invest in, the strategies etc. So you're saying family office is just PWM over there?

I own a direct sales business and I also make passive income on skill based gaming systems that I place to locations.
Rest of time I'm a stay at home dad or I just fuck off for the day.
My Sig other is a doctor.

if youre actually intelligent and have good business sense you get rich on your own, not working for someone else you cuck

I wasn't racist until I had to work with saudis myself, I can't believe "people" this vile exist.

That sounds pretty nice. My father is a very skilled craftsman, I liked working with him but he's too much of a hard headed Balkaner. Every time I tried to implement some actual business strategy he would fuck it up with his temper or other emotions and or shitty English. Would have probably stuck with it if he understood social behavior a bit better. One time we did a $4500 job for this guy, 2 months without a check, my dad called the guy and cussed him out. Turns out my sibling had thrown the mail into a bin one day after school. When we found the check my father ripped it in anger. Took me a weak of shmoozing and apologies to get the guy to sign another one.

Even at the relative top of the heap I still have to put in 65-90 hour workweeks. It doesn't get easier over time if you're focused on earnings=. If you are focused on earning, my advice is to change your attitude, drop the extracurriculars, get a CFA, and keep plugging away.

it's mostly real estate. direct holdings. but also we managed local equities in house. held for trade and available for sale.
off shore accounts were managed by private banks. we monitor and manage that relationship and often times leverage those portfolio to acquire assets abroad. then we also manage relationships with corporate bankers in the region because we're leveraged to the tits.

>islamic finance is laughable btw

cheers man, you were in the trenches with us. i'd buy you a round. they truly are despicable

Yeah that's fine with me honestly. I put in that much time in "working" generally speaking anyways. The top of the heap is the goal.

yeah but they will replace pink collar jobs before they replace blue collar jobs and if they replace white collar jobs we are almost fucked

Saudi's are not to be confused with strategic thinking. or thinking for that matter. they just want to get away with stealing and corrupt/shady business dealings to skim as much as possible before their sand castle get's swept away by a rising tide.
and that rising tide is this crown price.
MBS
he's going to fuck so many things up.
>popcorn

It's incredible to watch their war effort in Yemen and what a total blunder it is. They send one, maybe two tanks at a time up narrow passes in mountains and get uppity when a 13 year old runs up to it and throws a grenade into the gun.

Old school is old school. That's all they know. Bullheaded is a curse also. Especially when you have to sell a product to people that always think they're right.
I would have fucking killed my sibling.

It's pretty nice being your own boss. Although waiting for payments can be brutal during the slow times. Plus in my area I have 4 competing companies to deal with. They are all multi employee businesses and owned by cunts. So it's tough being the one man army.
If I wanted to nut up I could probably make at least 3x what I do now working 40-50hr weeks but I'm realizing I'm getting lazy in my mid 30s...

I live in a Medical School city. I should probably try to find me a sugar Doctor mama while studying for this damn thing.

It helps.
Mine is good looking for her age but was a hottie in college, a jock, Mensa level smarts, has street sense. Little bit crazy but hey you can't win em all.
Plus your children will be intelligent.

Kek

I don't work in finance, but in finance recruitment

1.the jobs are already devalued. FOs and head accountants proportionately make less today than twenty years ago. finance controlers are a dime a dozen

2.automation is not something in the distant future, it's here already

3 echoing to 2, it's here in two forms. ERPs allow the work of ten in the 90's to be done by 3 today and secondly Internet allows support to be outsourced to SSCs in the third world. Expect these two factors to mutually re-inforce one another with next gen cloud-based ERPs

4 I'm not a finance expert, but I'm a finance labour market expert. Two paths are available to you. Become a specialist (ERP implementation/migration, programming, so your original idea, tied to accounting) or become a manager, human skills and strategic input are more valued in CFOs now than they ever were, and that's where the job is going. The time of the technicians is over.

What's the best way to get into hedge fund management? Dad's cousin does it and he's the most Chad guy I know. I'm just finishing up gen eds so I'm totally open to taking any classes for any major.

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