Financial Analyst after JD?

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danquayle
Posts: 1108
Joined: Tue Dec 09, 2008 2:12 am

Financial Analyst after JD?

Postby danquayle » Tue Oct 02, 2012 8:09 pm

So a friend I graduated LS with a few years ago just got offered a job as a financial analyst. He seems really keen on taking it. He's talked to me about it and is asking my advice, but I really have no idea what financial analysts do, or even how they differ from a business analyst. My basic question: 1) is it a good move and 2) will the JD have any long term benefit on this career path.

Background:

Education: T1 Law School, Cum Laude graduate. Undergrad in Econ with 3.9.

Experience: Worked a few years in a small law firm job in a mid-market in the South. Doesn't seem to enjoy either the job or the market. His long term prospects there strike me as mediocre, unless he miraculously turns rainmaker overnight.

The Offer: Financial analyst with a Fortune 500 energy company in a strong and growing Southern market.

Intangibles: Has always wanted to work in finance in some aspect, though obviously the law route did not work out. Personal opinion is that he would be both happier with the work and the market.

My concern: Once you leave law, I know it is incredibly hard to ever go back. Doing well in law would be a more direct route, and I feel that in some respects he's setting the reset button on his career by making this move. I seem to recall plenty of business undergrads getting this kind of job, and its hard not to feel like the law career was a waste. The law degree would become at best a soft plus.

My current impression is that this is a good move for him, despite the draw backs. The law career is a sunk cost, and the current job looks like it has a strong upside, certainly much stronger than his current role. But I'd love to hear any opinions from people more in the know.

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dextermorgan
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Joined: Wed Jul 09, 2008 12:37 am

Re: Financial Analyst after JD?

Postby dextermorgan » Tue Oct 02, 2012 8:14 pm

So he tried the lawyer thing, decided it wasn't for him, and now has an opportunity he would enjoy (and succeed at) more?

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danquayle
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Joined: Tue Dec 09, 2008 2:12 am

Re: Financial Analyst after JD?

Postby danquayle » Tue Oct 02, 2012 8:20 pm

dextermorgan wrote:So he tried the lawyer thing, decided it wasn't for him, and now has an opportunity he would enjoy (and succeed at) more?


Hopefully succeed. I know very little of the prospects of financial analysts. (Other than a bunch flock to get a MBA, but I can't imagine him wanting to jump on that wagon as well.)

But sounds like you agree it's probably a good idea.

KidStuddi
Posts: 465
Joined: Fri Jun 15, 2012 12:35 pm

Re: Financial Analyst after JD?

Postby KidStuddi » Tue Oct 02, 2012 11:12 pm

Need more specifics on the compensation and seniority to make informed commentary. Financial analyst isn't a very descriptive term. It's like saying he was offered a position as an associate -- that can mean 60k shitlaw, 160k biglaw, or anywhere in between. Likewise, if he's being offered a position with some seniority to it, that's a much different prospect to an entry level position; just like how being a 6th year associate is pretty different in terms of work and compensation than being a 1st year associate, even though you're both nominally associates.




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