Aviator to Finance

[Hopeful Hoya]

Just wondering if anyone has made the jump to Wall Street after serving out their commitment.

I'll be working on Wall Street this summer at a premier bank and I realize it's coming to a point that I must decide what I want to do with my life. I love aviation and I love finance, and if all goes well with getting PQed and selected I would love to serve, but I've been thinking about what kinds of options I would have if I decided that I was not a lifer.

I don't have a engineering background so TPS/Aerospace jobs are effectively ruled out for me, and so I was wondering if anyone has experience with getting an MBA and going into banking or buy-side after flying in the Navy.

Feel free to respond or PM me. Thanks!

 

[wink]

Knew 2-4 guys that did that. One was based at Rota, loved Spain, and while serving with me in London on the staff of NAVEUR got his Masters from the London School of Economics, got out, and found a job with a Spanish bank.

 

[whitesoxnation]

My recruiter / OSO was a CH-46 pilot and went to the University of Chicago while he was doing the recruiter thing. He got an MBA or an MFin and I'm pretty sure works at a bulge bracket now.

 

[Uncle Fester]

Lots of guys have moved to the financial sector after doing a stint in uniform. And you'll have cool jet models and plaques in your office to impress your friends once you've gone on to money-fondling.

And don't necessarily rule out TPS/Aero track jobs. The Navy wants to see you can handle the academics at TPS before selection, but I know guys who've gone there without a heavy STEM background, and I worked in flight test for a few years as a civvie with a History degree.

 

[Duc'-guy25]

Go fly...you'll kick yourself in the butt for not doing it...

-From the guy kicking himself in the butt.

 

[Hopeful Hoya]

Go fly...you'll kick yourself in the butt for not doing it...

...And that's exactly why I'm leaning towards it. As hard as it would be to turn down a job on Wall Street I know I would be sitting at my desk every day wondering what if...

Glad to hear that there are opportunities though, ultimate goal would be to do banking at Goldman Sachs or Morgan Stanley and I'm guessing that they look very favorably on veterans.

Also @Uncle Fester (realize this is a bit OT) what is the process like going to TPS without such a background? I never really thought about it because I figured there was no chance for me.

 

[Duc'-guy25]

...And that's exactly why I'm leaning towards it. As hard as it would be to turn down a job on Wall Street I know I would be sitting at my desk every day wondering what if...

In all seriousness I know where exactly where you are coming from... The spring of my 2/C year I had every intention of applying for active duty... Come fall of my 1/C year I was offered a civilian job with the navy that was promising very lucrative to me (I got to drive a 689' ship on a daily basis which was what my degree was in, it paid better than anything else I was qualified to do, and I was pretty much told when I shipped as a cadet there was a good chance I would be captain and have my own ship before I was 30 which was almost unheard of), so I took that and defaulted to a reserve commission thinking I was applying my skill set in support of the mission the best I could. Made a bad decision. I remember both sitting at NAVSTA Norfolk watching E-2s and later sitting in my helo control shack clearing -60's for picks from Boxer, BHR and their ARG's thinking "what the ***k am I am doing here?" about 6 months into my first boat. That all said, I would give anything to go back 3 years and apply for SNA, because it has been an uphill battle every since for me to try to get a transfer. Just advice 24 y/o me would give 21 y/o me. The 8 year commitment from getting winged may seem long right now as a college student, but its nothing. Also, good chance the Navy will help you out with getting a MBA on your shore tour. Just my two cents.

 

[PhrogLoop]

There are several top tier MBA programs which look favorably on Naval Aviation experience which often gets you an interview. The rest is up to you to prove you'll be a good fit for the cohort they are trying to put together. Post 9-11 GIBill is a beautiful thing. PM me if you want to hear more. As far as a Wall Street career afterwards, stay in close contact with your peers starting that work now. Chances are one or more will be at your target firms during your first year in B-school and help with a referral during MBA recruiting.

 

[Uncle Fester]

Also @Uncle Fester (realize this is a bit OT) what is the process like going to TPS without such a background? I never really thought about it because I figured there was no chance for me.

I didn't do TPS myself, just worked in flight test with a whole bunch of guys who did. It's essentially like applying to graduate school, for a program that's part aero, part programs management. A finance background isn't so weird, provided you did well in school...it's not like French Literature or Dance Therapy or something. A lot of guys apply straight off their first Fleet tour, but I've also seen guys get picked up for TPS out of the OPEVAL/test support squadrons like VX-1 and VX-30, which don't require TPS, and out of DCMA billets.

I'm by no means an expert, but I think it'd certainly be doable. Finance and TPS/VX would set you up pretty well for an Acquisitions track, among other things.

 

[Hopeful Hoya]

Makes sense. Degree will be in Economics though, not finance. Hoping the fact it's more theory-based and is considered a bachelors of science (in foreign service) gives me a chance at least.

 

[pourts]

Or, just do banking now, and see how you feel after the 2 year contract is over. If you are burnt out, then do the military thing then. You will only be 2 years older. If you aren't burnt out, then you really do belong there. Or, leave for grad school and re-evaluate there.

If I had to do it over again, that's what I would do. By the time you get your wings, get to the fleet, and realize you don't really like it, you will be looking at about 6 years of time left on your contract. That's a long time to be studying for the GMAT and dreaming about the outside.

Also, if you are a finance guy, throw this onto a spreadsheet for consideration:
Calculate the lost earning potential (adjusted for taxes and cost of living, etc) between 11 years in the private sector vs. 11 years in the military. There's a chance your employer somewhere down the road will pay your full MBA tuition, so that about balances out the GI bill, which doesn't cover the full cost of a private university anyways. Then, calculate the value of the retirement benefits you are giving up by leaving at 11 years (since its 20 year cliff vesting). Most of the online calculators that I have seen say you would need to make about $100,000 per year more on the outside (assuming that job has no retirement plan) in order to equal the discounted present value of the military pension.

If you can look at those numbers and you would still rather do the military, then go for it.

 

[Hopeful Hoya]

I'm not going to lie the financial security afforded by finance would be a huge weight off my shoulders, especially as someone who was extremely fortunate and never had to worry about money and thus never really developed good financial planning skills.

Still though flying is a huge draw and has been something that's I've wanted to do forever, and I don't think there would be anything better than getting to do that as a job, even though I'm sure you guys deal with just as much, if not more, BS on the inside as we do on the outside.

At this point I'm going to move forward with LASIK and the ATSB so I can be seen by a board in the fall. Working 90 hours a week this summer will be a big gut check and hopefully make the decision a little easier.

Either way, please keep the advice coming, this has been extremely helpful.

 

[Uncle Fester]

Regret sucks, Hoya. You will definitely make much more money in the financial world, but you're never going to be too old to make money. There's only a narrow window to be a military aviator.

On the other hand, one of these days you could be watching jets scream by at an airshow and thinking to yourself, yeah, I could've been a Navy pilot, but the extra years of money-fondling were worth it...

 

[PhrogLoop]

I have received a lot of PM replies to my earlier post, and please keep them coming. In the meantime, I'd like to share a very good resource for those of you considering getting your MBA.

I highly recommend checking out the rankings at militarymba.net. They created a composite ranking combining academic reputation and value for Active Duty and Veterans using the Post 9-11 GI Bill and/or Yellow Ribbon benefits:

http://militarymba.net/schools-and-programs/study-top50.html

I have very good contacts in the Admissions departments of Michigan Ross and UCLA Anderson, but I can certainly help you navigate the seemingly impossible task of getting started no matter which school might be your dream destination. As Military leaders armed with substantial educational benefits, you are much more attractive candidates than you even imagine, so let me know if I can help.

 

[rotorhead1871]

Just wondering if anyone has made the jump to Wall Street after serving out their commitment.

I'll be working on Wall Street this summer at a premier bank and I realize it's coming to a point that I must decide what I want to do with my life. I love aviation and I love finance, and if all goes well with getting PQed and selected I would love to serve, but I've been thinking about what kinds of options I would have if I decided that I was not a lifer.

I don't have a engineering background so TPS/Aerospace jobs are effectively ruled out for me, and so I was wondering if anyone has experience with getting an MBA and going into banking or buy-side after flying in the Navy.

Feel free to respond or PM me. Thanks!

make lots of money...buy your own plane......have fun......IF you love what you are doing...you are doing the right thing......