Can you do any careers in the city that earn a lot with an arts degree?

[Justpipedreamin]

If you are not an Oxbridge graduate, can you ever manage to get into a lucrative city career?

Maybe something like marketing, or business development?

I'm not very well versed in what the specific types of roles are apart from traders, who earn vast amounts. I don't even know where to research online that does an easy breakdown of different job types.

But surely the people who work for investment banks or hedge funds in other roles also earn very good money, even though it's a fraction of what traders make?

I did manage to get school hours when I worked in the city but I was the only person there doing that and it caused some friction with colleagues who thought it was unfair. Above Director level I didn't know anyone working part-time. Long hours were the norm and welfare was them funding a gym and paying for staff to have time off with stress. Still worth trying if that's your dream but the reality may not be as rosy as it appears though financially its great and 30 days holiday.

You don't need an IT degree but you would need to show a passion for coding and writing software. Also Marketing and project management supporting the technology functions.

But be aware that you will be competing with loads of people with IT degrees or years of experience, you will need need to show more than a passion for coding you will have to pass a technical test even at the basic level.

The "just jump into coding" is like the free half hour at a solicitors on Mumsnet recently

What about IT project management for banks though? I know quite a few people doing this, all with arts degrees, no specialist IT skills, they're all earning very decent money (though that's with significant experience).

My friend has a media degree from an ex poly (so a real ding, ding bingo for these types of discussions) and she is a project manager for some huge company earning well over £125k! She works 16 hour days though.

There aren't many who make it to partner in a Big4 by 35 nowadays. I was one of the youngest in my peer group at 36. And definitely on well short of £360k a year.

The days of making it to partner by 35 are long gone for all but the most exceptional people. Partners are getting there later. Earning less as a new partner. Staying there longer. Not the golden age it used to be.

Much better to go for a less well known career - there are thousands of people in the city earning very good money despite the fact that even their spouses have not a scooby what it is they actually do.

This is great advice... except its hard to find out about these jobs isn't it!?

I would suggest back or mid office in banks. Doing operations or compliance roles you can easily earn over 80k after some years experience and you will be on the same that a qualified accountant in their 10th year at a big 4 will be on and you'll work way less hours.

Also for those thinking of accountancy - check the pension scheme carefully. Most banks will do something like 6% for free, then match up to another 6%. So if you pay in 6^ your employer pays in 12%. Ths compares to the big 4 I am at where they match up to 4% only at this age. Which is SHIT. Total fucking dog shit. Makes a HUGE difference to your pension over your working life. Also some banks will do pension cont on your bonus as well. My big 4 does not. So even more you are loosing out on.

My next move will be out of a big 4 and will be focused on longevity prospects and pension contributions (as well as pay, bonus and conditions obvs).

I would also suggest insurance for QBE - best pay to hours and stress pay off. You have to do additional exams but you do for accountancy and law etc anyway.

Financial PR / Investor Relations is SUPER competitive - loads and loads and loads of bankers who got laid off in the GFC all crowded that space.

My friend is in Ir and it is good but quite high pressure and not good work life balance. She does it for a bank tho, IR for other listed companies might be better.

@TinklyLittleLaugh sorry I assumed he meant UMIDT didn't know that -he talks about Manchester equiv of aston course that he did! It used to be UMIST back in the day when we were at aston and lots of equiv courses.

This is an interesting read

www.bbc.co.uk/news/education-41693230

I didn't realise you were already in PR. This is also my industry. You can make big money but usually by setting up on your own or making director level in a decent firm.. your experience sounds fine to me. The only thing I am wondering is if you are maybe a grad that came out during the recession a few years ago PR salaries were really squeezed then and many working for free etc has had a lasting impact. You have good experience in my opinion you just need to find someone that pays a bit better. Trying to get in-house in property/retail/leisure PR may help your salary and is related to what you've done.

If you're seriously thinking about change from beauty PR to accountant or city I think it would be a big culture shock!

ruby RfP wot dat?

Silver
I've done a mix of IR, PR and public affairs during my financial services career (IR and PA in-house, PR in-house and agency)
IR involves a lot of travel and above average amounts of entertaining, and I think MiFID II is possibly going to make this worse for in-house IRs

PA is probably the least amount of entertaining 'overtime', but is predominantly an agency discipline now, so would be mean lots of pitching and client entertaining, which takes up the house.

In-house PR for financial services can be long hours but the bulk of the heavy lifting will be palmed off to agencies. There is a degree of being able to cherry pick the travel and extra hours when you're backed up by a good agency.
Financial PR agencies will be doing lots of pitching and potentially long hours when working on big M&A and IPO projects

As you pointed out, post-Financial crisis, it has become a much more appealing career for people who want to stay within the City bubble (with City bubble salaries) but not at the sharp end. So standards have risen when hiring, and salaries at entry level are flat because there is an oversupply of new entrants.

Gross overgeneralisation alert:
I think the biggest issue for OP is that the career path is structured (or has come about by accident) so that the bulk of the long hours and entertaining is done earlier on. Win/win for the recent grads who are happy to eat and drink on the company dollar while on relatively low salaries, and enjoy the freebies and fun while your biggest consideration is juggling a hangover with an early meeting.

By the time you've risen through the ranks to be able to delegate that sort of stuff, you're also at the sort of age where a family might be on the cards, late nights in fancy bars hold little appeal and you can pay for your own social life.

Going in at the lower ranks in your 30s, as OP would be doing, means a lot of the grunt work and long hours, at a time when it might not be so appealing to be doing shots with recent grads and trainee journos

But the same would be true for any other career shift within the wider world of financial services...
Perhaps with the exception of trading, because they never seem to grow up and slow down

milliemolliemou

An RFP is a 'request for proposal'
It is something sent out to service providers (banks, law firms, PR firms etc) when you are looking at hiring them
You write a doc outlining what the project is, what competencies you are looking for and what information the company should respond with.

It requires good knowledge of the business need, the sector the service provider operates in, and the ability to subjectively and objectively assess different responses to the same questions.

And to be a better writer than to just say 'wot that' when you don't understand something

This is interesting

www.google.co.uk/amp/s/www.bbc.co.uk/news/amp/education-41693230

do you mean a fine arts agree or a Humanities Arts degree? I have a Bachelor of Arts and i majored in Prehistoric Archaeology and comparative religious studies. My degree is not Oxbridge and in fact is not even from the UK. I now work for an Insurance company in the City. I do Insurance Claims work - usually corporate insurances and management liabilities. I take home £85k p/a. i would like to take home more but that is not likley to happen unless i step into leadership and frankly i am note sure i want to.

I work with Barristers, Solicitors and people with A-levels. Those with the A Levels have had to graft a lot harder to get in the door but they did.

A 2.1 degree in English. Not fine art.

Sociology degree and now Head of Marketing in the City so yes it's possible. Have done some extra study and industry qualifications. I don't earn mega £££ but comparatively I know I'm lucky.

Hmm well so initial exploration of going into corporate PR agency at very junior level shows I'd have to be ok with a salary of £18,000 a year. As that's the going rate for any grad.

My PR experience is irrelevant if I go by job adverts, it's the wrong kind to even look at jobs offering £22,000 as they want a year or two of corporate PR behind you.