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I work in the healthcare industry as an administrative assistant. I was wondering does anyone here work for a private equity firm or an hedge fund?
What are the pros/cons, job security in this field and what is the best way to apply for an entry level position?
Any advice would be appreciated!
Define "entry level" in your perspective.
Also, why the change of fields; and, why Private Equity/Hedge Funds?
Offhand, there aren't any such positions. Assistant positions require demonstranted financial experience and licensing! You also need a level of focus, exactitude, dedication to the job, and an extreme ability to deal with *pressure*. Nothing which your healthcare experience has prepared you for.
You'll also need very good to expert skill with the standard office software, as well as familiarity with specific financial software used by the individual firms you apply to.
Realize, these are coveted positions, which offer the possibility of six figure salaries and and bonus. Your healthcare experience will account for nothing.
Do you have a college degree? If so, in what field?
Entry level positions w/b better found in Investment Banks and Broker offices, where you could gain experience and knowledge.
That is incorrect, there are such positions and you do not need to be licensed. They're admin asst jobs like any other, but they will want a high level of experience and skill with the office suite (but you should have that regardless as an admin)
I'm an Executive Assistant in healthcare sales right now, about 18 years of experience as an admin
I did work for a hedge fund for 2 years before I started my current job 10 years ago.
It's high stress and you're dealing with major attitudes. I actually recently received an offer that is 20k above my current salary to go back and turned it down, simply because the stress was not worth the money. There are also a lot of layoffs and reorgs, and the little people are the first to go.
I gained this healthcare position straight from High School it was "if you can pass this administrative exam you can get the job". I scored extremely high which is why I have this position. I then went on to a community college while working to obtain an Associates.
The field doesn't necessarily matter I am just looking for administrative positions that would pay at least 50k and good benefits since I would like to go back to school and move my way up the career ladder.
I gained this healthcare position straight from High School it was "if you can pass this administrative exam you can get the job". I scored extremely high which is why I have this position. I then went on to a community college while working to obtain an Associates.
The field doesn't necessarily matter I am just looking for administrative positions that would pay at least 50k and good benefits since I would like to go back to school and move my way up the career ladder.
How proficient are you in Word, Excel and PowerPoint?
That is incorrect, there are such positions and you do not need to be licensed. They're admin asst jobs like any other, but they will want a high level of experience and skill with the office suite (but you should have that regardless as an admin)
Really?
Let me see you work on the trading floor w/o Series 7 and/or 64, and, in some cases more![/quote]
Quote:
I did work for a hedge fund for 2 years before I started my current job 10 years ago.
In what capacity? Human Resorces?
I presumed the OP was interested in being 'in the money', perhaps my mistake.
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It's high stress and you're dealing with major attitudes. I actually recently received an offer that is 20k above my current salary to go back and turned it down, simply because the stress was not worth the money.
You're dealing with people making serious money, and there are NO excuses. None!
Quote:
There are also a lot of layoffs and reorgs, and the little people are the first to go.
NOT, if you are connected and vital to the BIG people! If one is not highly ambitious, there is no point of working in such a place. It is more than a J O B, its opportunity!
I know people who pay their staff, out of pocket, on top of the firm's salary and bonus! Particularly, when there are cutbacks and layoffs.
Let me see you work on the trading floor w/o Series 7 and/or 64, and, in some cases more!
In what capacity? Human Resorces?
I presumed the OP was interested in being 'in the money', perhaps my mistake.
You're dealing with people making serious money, and there are NO excuses. None!
NOT, if you are connected and vital to the BIG people! If one is not highly ambitious, there is no point of working in such a place. It is more than a J O B, its opportunity!
I know people who pay their staff, out of pocket, on top of the firm's salary and bonus! Particularly, when there are cutbacks and layoffs.
My offer to be an Exec Asst that I turned down was for $110K and did not require any licensing. And it wasn't HR - it was supporting C Suite level. I did something similar when I worked there before, just not at as high of a level.
OP was specifically asking about Administrative Assistant positions, I don't think that's what you're talking about. You only need a Series 7 if you're taking orders.
OP - my suggestion to you is to hone your Word/Excel/Powerpoint skills. You will be tested on these for the higher paying admin jobs, and the recruiters will favor you heavily if you ace them (95%+). Find a few that are advertising for Exec/Admin Asst positions for iBanks and Hedge Funds, and give them a call. They will likely at least bring you in to test and prescreen you for positions they have open.
My ex applied for a job as office manager in the hedge fund that her brother in law was a top quant wizard at. Even with the in and the lowly position, she said it was like trying to get a job at the CIA. Multiple interviews, rediculous questions, background check after background check.
I have 6yrs of healthcare administration experience. My experience is so short because like I stated before I came out of high school took a test and score 98 in MS Word and 93 MS Excel that at the time was enough for me to get the job.
I will have to brush up on Powerpoint skills because I do not do Powerpoint here I took courses towards electives for my major but a refresher course is probably what I need.
I am not necessarily set on applying to private equity firms/hedge funds sorry if I wasn't clear about that but I did want to hear perspectives on the environment itself I know to pay 55/60k with bonuses there are certainly cons.
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