Is equity research or sales the job for you? Why one professional made the switch
A career in equity research is a dream job for many. But our dreams often change as we grow and mature. Rachel Madsen, CFA, thought she had landed her ‘dream job’ when she took a sought-after role in equity research early in her career, but she soon discovered her true passions lay elsewhere. Now a director at Loomis, Sayles & Co., Rachel says her love of working with people led her to pursue a different career path in sales and relationship management. In this video, she shares how she learned from failure and the importance of finding a tribe in business and life.
Five years into my career journey, I actually landed my dream job in equity research and I thought, this is it. My life is set. And it was hard a few years into it when I realized that my true passion was actually people.
I left my dream job to pursue a role that was more focused on sales and relationship management. If I could write a letter to my younger self, she would never believe that I work for an investment firm and not for Disney Studios as an animator. She would be really surprised at the left turn that my life has taken.
My initial passion to pursue art came from my grandfather. He was just this fabulous artist. I loved going over to his house and seeing his sketches and his paintings, and sitting with them on the couch and sketching next to him.
It's opened my mind to nontraditional approaches. So when I see a solution that might be considered outside the box, I actually gravitate toward that solution. I was able to take a leadership class, and this caused me to shift my ambition from wanting to pursue a career in the arts, to pursue a career in business, instead.
The first piece of advice that I would give my younger self is embrace failure. You are going to make mistakes. You're going to face trials and have setbacks, but try to look for the opportunity in those moments.
Twice in my career I've been laid off and the second time my then nine year-old son asked me, “Mom, have you ever lost your job before?” And I said, “Yeah”. Several years ago when I lived in Texas, I lost my job. But you know what happened? I moved to Chicago and I met your dad, and I had you. So let's see what blessings come this time.
Don't be afraid to be who you are. Early in my career, I made the mistake of trying to hide who I was. But I ended up doing was actually depriving the people in my room of my unique perspective. The last piece of advice that I would give my younger self is business and life are team sports. So find your tribe and hang on to them.
A letter to my younger self
What advice do you wish you had heard before starting your career in finance? In this series of personal stories, CFA® charterholders from different backgrounds discuss the insights they have gained during their career journey and the pivotal moments that shaped their professional paths. What would you write in a letter to your younger self?
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