Chance to earn megabucks, but at what price?

moomin82

Hi there

I have attended an open day for a one off opportunity to become a Fund Manager through a unique 18 month training scheme.

They would start me in Sales and Marketing and I would have to study during this period to pass exams in Investment and Finance.

It sounds like a great, huge opportunity and they have given me up to the end of today to respond.

I have not called yet because I am apprehensive of the immense pressure it would involve. I am also naturally not good at MATHS and have no prior experience in Business or Finance..They are looking more for tough grads for their personality.

It's also very male-dominated....

I get stressed quite easy but I am currently stressed in a low paid job (slowly and steadily paying my debts). My current job is more like a slow poison! This job would be like 100x more pressure and I can see myself burning out very easily ( I get ill a lot)

I am attracted to the prospect of earning a six figure salary but I know it would be very cut throat.. My interests in this role are purely for the earning potential but it seems to go against all my interests. I would have no time to do any of the things I actually enjoy. I came across this job while looking into different careers.

They describe a role with unlimited earning potential but it means you are solely responsible for generating this (ie self employed).

Does anyone have any advice please?

cpria7

I think you have answered your own question here. Whilst obviously money is important you also have to consider your happiness.

teabelly

Easy answer is to flip a coin then follow your gut reaction. If you are stressed in a low paid job it might be because you are bored and unfulfilled more than any other reason.

What is the worst that could happen?? You could find you didn't like it then drop out part way through the training. It doesn't have to be forever either. You could do this for a couple of years, save as much as possible then quit and live off your savings while you find what you really want to do.

I actually think you should take a chance and go for it. Expect it to be tough but rewarding. Expect to cope. Expect to find you actually enjoy the new challenge. If nothing else it might open you up to other opportunities which you hadn't considered and which do reflect your skills and interests.

dmg24

I have heard of several 'training schemes' of this sort. They are rarely what they seem, if they were, they would employ you and reap the profits. I would avoid at all costs.

Spanish868

Mate i can save you ALOT of wasted time and lost money. :T

Do you want to have to go to a little office everyday (Paying your own travel to get there),
spend your day sitting at a desk cold-calling up 100s of people from a list and trying to convince them to 'give you money',
with you promising them that you will return them more money.

And you ONLY EVER GETTING PAID ANY MONEY if you manage to convince enough people to pay enough. :cool:

bristol_pilot

If the starting salary (training) is not at least £40k basic, then you are NOT being trained as a Fund Manager.

Debt_Free_Chick

You don't earn big bucks easily - not ever.

You say you'll be a "fund manager". Are you sure? or will you be expected to sell unsuitable financial products to your family and friends?

What firm is this? We may know them!!!

Quasar

First off, if this sort of work requires people with rhe right head for it. It is an arid, statistics ridden job and you have to like doing this stuff otherwise it will be a massive chore and you will find it hard to succeed - because there isn't the mental interest.

How much do they pay you to start with? What happens if you decide this fund management stuff is not for you?

Also remember that they always show the top end of earnings to entice people, but those who go on to earn mega money are few and far between, and they usually have a good head for finance to begin with.

In any event, good luck to you.

Carmen_Queasy

It sounds like a bit of a con to me as well to be honest with you.

Voyager2002

The give-away is the phrase 'self-employed'. You would be selling some kind of financial product on a commission-only basis. With the personality you describe, you will make few or no sales, earn very little, and end up unemployed.

The word 'bargepole' comes to mind.

moomin82

Hi All,

Thank you for your insights.

I did not call them back as I decided it was not going to be an opportunity I could live up to. It is an 18month scheme where they start you in Sales and Marketing for the business.. it is only if you excel at that, and meet your targets every day that you will go on to be a Fund Manager for them.

During this time I would have to study through the night and pass exams while meeting my targets and attracting wealthy people as new clients..

Among one of (many) reservations, I know my maths/finance capabilities and I struggle a lot with these subjects. I once did a PA job for a Financial Training company and they suggested I study one of their exams to gain an understanding of the product - I actually passed it but not without a lot of struggle - my brain does not absorb this stuff easily

The company is small but a giant if not leader in Fund/Wealth Management. Nice work if you can do it but I think I will have to try my luck elsewhere.

:cool: