What do you do that you earn six figures?

[u/fidgit86]

It seems like a lot of people make a lot of money and it seems like I’m missing out on something. So those of you that do, whats your occupation that pays so well?

[u/Root_3dge]

Are you like a compliance where you need series 24?

[u/Alternative-Fly-8854 → u/Root_3dge]

I’m in product safety and regulatory compliance - part of the legal team. Highly experienced paralegals at large law firms and corporations can make in the 6 figures.

[u/HarveyFloodee → u/Alternative-Fly-8854]

A good paralegal is at least worth that and knows their stuff

[u/AssaultLemming → u/Alternative-Fly-8854]

The compliance people at my company make easy 6 figures. I would not do that job for a fat pay rise. Wow their job is dull lmao.

[u/Maxsmack0 → u/Alternative-Fly-8854]

You and I both know they can make a lot more than 6 figures.

[u/Accomplished-Bad3380 → u/Maxsmack0]

7 figures?

[u/AssaultLemming → u/Accomplished-Bad3380]

Probably not working in a company, the ones good enough to make 7 figures work as consultants or partners in a legal firm and just go around solving serious problems or explaining how bad problems will be if they don't get solved.

[u/Sh1n1ngM4n → u/Alternative-Fly-8854]

Interesting to see someone with the same job.

Do you have a special area of expertise at your company?

[u/astylishfox → u/Alternative-Fly-8854]

How did you swing that job, if you don't mind sharing? I'm currently a 2nd year at an large firm, working in syndicated lending but hoping to branch into regulatory work. Did you do Big Law time then move in-house? Also, have you always done regulatory work?

[u/MathBusters → u/Root_3dge]

I work Compliance and Risk Management at a fortune 500 financial firm. I have my 24 and that test is an absolute BITCH. 10x harder than the 7.

[u/Root_3dge → u/MathBusters]

Dang I was planning on my 7 later this year and quite possibly sit for the 24. Is your career enjoyable? Are there a lot of competition for a job in compliance?

[u/MathBusters → u/Root_3dge]

Yes, I do enjoy it You should definitely do it. I worked in other areas in Finance for a few years before I moved to Compliance. Getting the 24 opened up a lot more options of jobs to apply for. But it is a rough test.

[u/TwoBluntsToTheDome → u/MathBusters]

I started my career in Anti Corruption compliance a couple months ago. It isn’t where I originally thought I was headed, but I do love what I do. What is the 7 and 24 you are talking about?

[u/Root_3dge → u/TwoBluntsToTheDome]

Securities exams given by the Financial Industry Regulatory Authority (FINRA). FINRA regulates investment and brokerage firms to ensure they are following either state and/or Federal (SEC) rules and laws. Series 24 allows you to oversee compliance for advertising, trades, underwriting, market making. The series 7 allows you to effect trades with things such as Mutual Funds, ETFs, options, direct participation programs, and some other stuff.

[u/Root_3dge → u/MathBusters]

Do you mind if a dm you? I have just started taking those exams with 2 (soon to be 3) under my belt. Would appreciate some insight.

[u/MathBusters → u/Root_3dge]

Sure, no problem.

[u/HereIsThumbkin → u/Root_3dge]

I also have the 7/24 and worked as a home office OSJ for many years. Other poster is right, 24 opens a lot of doors but you take on a lot of risk too if in direct supervision. Happy to chat if you’re interested.

[u/ShrimpCaptain56 → u/MathBusters]

If you dont mind me asking? How does one get into risk management. I also work at a financial firm, and know some one in risk management. But what certifications did you need? I currently work in the call center.. so i have a good understanding of the business. But the person I (Kinda) know works part time and is making nearly double my current salary?

[u/MathBusters → u/ShrimpCaptain56]

I actually started in our call center too. I worked a few different Service jobs for our company (phones, training, writing procedures) all related to Brokerage and Mqnaged Accounts for a few years until I was considered an expert. Then I got an entry level job in Compliance, because they needed someone who knew Brokerage more than they needed a Compliance expert. I learned a lot there and got my 24, then I got a better job in Risk Management.

[u/ShrimpCaptain56 → u/MathBusters]

Thank you kindly :) good to know other people get out of the call center. Almost seemed like a dead end.

[u/marchdk2016 → u/Root_3dge]

Just creeped a bit on your comments with mathbusters and just wanted to recommend going for your 24 after your 7. I personally didn’t think it was much harder than the 7. I believe I scored like 86% on the 7 and 85% on the 24.

I’m not to six figures (maybe in a few years), but the work is interesting enough and my current role I probably only work 20ish hours a week from home and my down time I just spend with my family with my laptop open. The supervision side is just more laid back in general as opposed to being a trader or someone in sales (I’m not cutout for the sales crap reps have to do).

[u/Root_3dge → u/marchdk2016]

Wow, really only 20ish hours a week? Is that typical or only for your situation at your company? What would you say somebody would expect new to the field and has their 24?

[u/marchdk2016 → u/Root_3dge]

It’s definitely unique to my situation, but even before it was like this I had reasonable work expectations and not much stress. 40 hours is still the norm for most people.

My recommendation would be that after getting your 24 to look for work as a suitability principal and you should be able to be paid 50-70k. After a few years of experience doing that you might be able to find a more comprehensive branch/regional supervisor role which is where you can expect to make 80-100k+.