Few analysts begin their careers thinking they will be analysts forever; most regard the position as a steppingstone to something else. But while career progress in industry consists in moving toward the top of the industrial pyramid, there are only a few jobs at the top of the investment research mesa. With no clear-cut pathway to those jobs, the creative analyst at mid-career may begin to wonder if he can keep the creative juices flowing for the rest of his working life.
The dissatisfied analyst should consider the advantages of being at the foot of the mesa. First of all, being at the top is often not that much fun. In investment organizations, the choice between Indian and chief is often a choice between monetary and psychic income. The investment world provides both, but not necessarily to the same people.
Then, too, creative investment analysts enjoy more intellectual freedom and excitement than the vast majority of their counterparts in industry. Their jobs, though demanding, pay well early in their careers. And a young man or woman can achieve recognition, respect and power far out of proportion to the number of years in the job.
Often, what the analyst perceives as job dissatisfaction is actually a reflection of problems in other areas of his life. But if the problem really is with his job, the analyst should investigate opportunities to diversify his activities within his current firm. Corporate finance, investment advisory services, retail activities and trading can offer a great deal of reward for a little extra input of time and effort. Finally, if all else fails, the analyst should look elsewhere in the investment business. Despite its shortcomings, the investment profession offers far more excitement and reward than most jobs in industry.