Working as a financial analyst is a pretty tough career path. There are crazy workloads to consider, crazy long hours, and a high-pressure environment where, depending on the situation, several seconds can be the difference between big profits and minimizing an unmitigated disaster. A 2022 report on employees in the finance industry indicates that 4 in 10 of them feel burnt out by their work.
Some have expressed that the industry focus on upward mobility and in an industry that's the prime focus is the management and manipulation of money leads to some pretty rotten personalities one has to deal with on a daily basis. There are some who would argue that the very nature of working in finance is an inherently "soulless" prospect, as there aren't many children who laid down in bed and stared up at the ceiling and dream that they'd be an accountant. Or work in mergers and acquisitions.
However, there are definitely people who get a kick out of working in finance. Take Warren Buffet for instance. He loves managing money so much that even though he eats like a 6-year-old with a grown-man's appetite, he's still very spry despite being 91-years-old.
But many feel that type of enthusiasm was nowhere to be found in a viral TikTok of finance interns looking like they're seriously questioning their life choices.
The clip shows a bunch of young men on a Zoom call staring down the barrel of their respective camera lenses as they learn about QuantumVest, the company they're interning at.
The company's website reads: "Quantumvest is an industry-leading investor in the world’s financial markets. We are fee-only, Fiduciary Advisors who always act in our clients’ best interests. Quantumvest is focused on how the financial markets work."
"By understanding how markets move and translating that understanding into highly effective portfolios, we have built a track record of success. For almost a decade we have sought to deliver superior investment returns to our capital partners including pension funds, endowments, foundations, governments, and private individuals."
Google reviews for the brand are quite unforgiving, with one user by the name of Kyle Shelton calling Quantumvest, "a complete and utter joke." There are only 5 reviews for the business: 4 of them are 1 star reviews, with one 5 out of 5 star recommendation for the firm.
The video was uploaded by Taylor Roncancio, whose TikTok profile reads: "Founder / CEO / Senior Portfolio Manager at Quantumvest / TCU Alum / 📍LA." Several of his clips focus on his recreational boxing hobby and clips about his investment workflow.
The lack of joy in the interns' eyes was apparent to TikTokers who viewed the clip:
"I’m convinced this is a joke"
"Wait this isn’t satire LMAO"
"They got turned down by Northwestern Mutual and came here instead"
"bro i thought this was gonna be a skit"
Many also remarked that they thought the beginning of the video was actually the lead-in to a skit and were shocked to learn that it "wasn't satire." Others stated that the situation "screams working for experience."
"I’d be thinking about nothing except leaping out that window," another user remarked.
Forbes' list of top financial firms to intern at include some heavy-hitting names that even folks who couldn't care less about money management would recognize:
- AT&T Financial and Leadership Development Program
- Blackstone Group
- Credit Suisse
- Deutsche Bank
- Goldman Sachs
- J.P. Morgan's Investment Bank
- Morgan Stanley
- Northwestern Mutual Financial Network
- UBS Investment Bank
The outlet indicated that nearly all of the internships offered paid positions. Quantumvest's Internship page on its website doesn't specify whether or not its interns are offered any compensation for their time.
The job description for an equity analyst intern is as follows: "The intern will work under close supervision and receive on-the-job training. After participating in this internship, the intern should have a better understanding of what is involved in becoming a Financial or Private Wealth Advisor within the wealth management business. The intern should also become familiar with the many investment choices offered and have a basic understanding of how an investment plan is designed and monitored."
What do you think? Is the video as disheartening as some people are saying it is? Or is this just a case of a bunch of young peeps trying to look as professional as possible while being thrust into a very "grown up" world all of a sudden?