I have a six figure medical job and want to transition into finance, am I crazy?
Hello,
I work in healthcare (physician assistant) and make decent money for my age (late 20s, 115k). I have always had an interest in finance and I am considering CFP as a reasonable transition out of healthcare. I'm burnt out with no upward trajectory in my current career path. Unfortunately, I think I have lost my passion of caring for patients, but I'm struggling to find a way out as there are very limited "non clinical opportunities" (not seeing patients) in my field. I love finance and browse r/personalfinance and r/financialindependence religiously.
My question is how realistic is this? I have a bachelors and masters degree, my understanding is I will not need any additional college level courses, however passing the CFP Exam typically requires 250+ hours of self study.
Questions-
- If I do obtain my CFP, I don't really know what the next step would be, I don't have any connections in the financial world. Randomly apply to entry level jobs on Indeed? What kind of salary ranges are expected starting out? It would be discouraging cutting my salary in half, but I understand my current salary may be an unreasonable starting point.
- Do you find your job rewarding? Not to sound harsh but I want to feel like I am making an impact on clients and not necessarily just helping rich people get richer, etc.
- I have no interest in pushing commission based products on people (whole life insurance, annuities, etc.). Is this generally a big part of most CFP jobs? My personality is not the "salesman" type.
- It seems a lot of financial jobs require 50-60 hour weeks early in your career. The one upside of my job is I generally work 35 hours/week. I am trying to maintain some semblance of a work life balance. What are some of the general CONS of your career as a CFP?
Any general advice is welcomed, even other careers in the world of finance you think I would be better suited for. Thank you in advance.