Job Responsibilities
I'm assuming the position prior to grad school. Overall view-
manage a portfolio of about 100 clients with total potential
loan balance of $25M (includes total amount of lines of
credit). Out on the road visiting clients about 2 days/wk-
visits include signing loan documentation, delivering checks,
checking in with folks, annual updates, filling out finincial
statements, collecting payments, etc. Also out on road closing
loans at attorney offices approx 1 day per week on average.
While in office, rest of time spent inputting and analyzing
financial data, writing up loan packages, accounting for real
estate or personalty appraisals, other due diligence, managing
paperwork (filing!), making phone calls, auditing own client
files as well as peer-auditing other's clients' files, and
probably about 1 day per month on average thinking about overall
marketing plan for company. So I had a lot of responsibility in
multiple areas, allowing me to determine which path I want to
head in the future.
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Job Requirements
I thoroughly enjoy the entrepreneurial and wholistic approach to
case study work that I do in the program. I know from my own
experience that most business decisions do not just affect one
area of the business- they have reverberation effects that echo
through. The class time is very good- taught by professors who
have good credentials and who stimulate interest in their
respective subjects. Also professors are very approachable.
There's a fast track program that minimizes time in the
classroom which is good for some, I'm sure, but you miss out on
so much stimulation from classroom discussion and building on
other peer's points of view and experience. Babson is a smaller
school, which is new to me, but I've found that if you have a
strategy to get the course you want- popular or no, you can get
them. Grading is fair, thus far. Workload is manageable,
allowing time during the regular semester for an academic year
internship or part-time job.
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Uppers
The people I work with without a doubt is the best part about my job. They kept
me there perhaps a year longer despite differences in points of view with middle
and senior management, for which I am grateful. I learned more about myself and
how I respond in different situations.
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Downers
The worst part about my job was dealing with favoritism placed
on a colleague that seems unfounded, verified by external and
internal people. The other is giving people bad news, and
seeing their disappointment, even if in the end it's good that
they got the bad news. Another frustrating downer is being in
disagreement with a style of management as well as not getting
credit for your creativity or new findings.
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Lifestyle
Lifestyle was great for this position. You could work as much or as little as
you wanted. In general I worked 50-55 hours/wk. Travel was regional, able to do
in a car. Company social events were company-wide once a year as well as 2
office events in a year. Dress code was slightly more relaxed than business as
often you were visiting work sites. There was not so much diversity, although
more and more women were in the credit rep/loan officer posisiotn.
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Compensation
Base salary was $35k when I started with a $3k signing bonus and
raises were generall 3-4% per year, with some years 10 and 6%,
so that after 4 years I was at $49k. No stock options.
Excellent 401k matching program. Car benefit. Health insurance
was very good, especially for singles. Bonus were team-based
and maybe a little stingy. A trade-off for lifestyle
convenience.
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Advice to Jobseekers
Use a mentor. Learn how to prioritize work early. If you don't
like it, you can always change.
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