[vcorn]

Hi everyone

Do you think CFA is sufficient to get a job in trading/sales (front office) in investment banking?

I have no finance education background (did engineering last time), am currently in support line of an investment bank and thinking of moving to the front/business line. Don't really mind to start as trading/sales assistant (do let me know if you currently know any vacancy )

Is it worth taking CFA starts from level 1 or do I have to get a finance degree from college (e.g. master degree)?

Opinions wanted!!

Cheers

[shreshti]

CFA makes you really cool
CFA can earn you a lot. no you need not go 4 any degree but concentrate and complete all the levels..make sure to join some place where you could learn topics of finance otherwise it would be tough once you clear you can get a job in the IB..

[freeier]

i am not sure who gave you the idea that cfa can give you a front line banking job ? which domain?!

[Mat]

Before enrolling into the CFA make sure you are willing to sacrifice a lot of your free time into studying....after a few years of work, it is not that easy and the CFA examination will require a fair amount of personal study.

As for CFA being a good way to move to trading/sales...it is not sure science....I have seen people in support function who after taking all three CFA level managed to move to a more FO position but I also saw a couple getting their CFA and not changing position.

[vcorn]

Originally Posted by freeier

i am not sure who gave you the idea that cfa can give you a front line banking job ? which domain?!

I heard opinion from lots of ppl abt it, it's not that it will assure you the job, just that it will support your application when you have no college degree in finance. That's what I heard.
So I wanna know if in the case I completed level 1 or 2 and put it in my CV, will the recruiter even interested to look at my application? (provided no finance degree written in my CV)

for domain..let say forex or derivative trading

[climber07]

Originally Posted by vcorn

I heard opinion from lots of ppl abt it, it's not that it will assure you the job, just that it will support your application when you have no college degree in finance. That's what I heard.
So I wanna know if in the case I completed level 1 or 2 and put it in my CV, will the recruiter even interested to look at my application? (provided no finance degree written in my CV)

for domain..let say forex or derivative trading

Will passing the CFA exams make your resume more attractive without prior finance background? Maybe a little.

Will it get you a Front Office job? Not likely.

Will it increase your overall comp? Possibly, but not necessarily.

CFA is indeed a respected program in the IB world, but is it a golden ticket to the desk? NO it's not. Until you prove yourself, you are not going to be getting though many doors I'm afraid. Additionally, if you're not already working in the business, you will not be granted a Charter without the experience, so it's a double edged sword. If you weren't specifically recruited out of a graduate program into the analyst program for the Front office, your best bet is really to try to get your foot into Middle office and PNL support and prove your worth while studying hard. Also depending on your age and your soft skills (i.e. "people skills") that door may already be closed.

[vcorn]

Originally Posted by shreshti

CFA makes you really cool
CFA can earn you a lot. no you need not go 4 any degree but concentrate and complete all the levels..make sure to join some place where you could learn topics of finance otherwise it would be tough once you clear you can get a job in the IB..

I hope it does

Originally Posted by Mat

Before enrolling into the CFA make sure you are willing to sacrifice a lot of your free time into studying....after a few years of work, it is not that easy and the CFA examination will require a fair amount of personal study.

As for CFA being a good way to move to trading/sales...it is not sure science....I have seen people in support function who after taking all three CFA level managed to move to a more FO position but I also saw a couple getting their CFA and not changing position.

is it necessary to take all three levels before they really consider your application? let say even entry level?

[freeier]

let's put it another way.
i started mine years ago before i joined the financial industry. i have never put it inside my resume i think.

after i joined the industry (in 2003 supported by a master of science in financial engineering), i continued my cfa and am now retrying my level 3.

so having gone thru it myself, and being in a position that i occasionally help hires front office personnel, NO, I would not use CFA as a criteria... i am willing to consider engineer with no financial experience and background. but it would be strictly his merits in previous job and not based on his attainment of cfa.


maybe someone that has not gone thru the programme him/herself wld think other wise..

ok then you have maybe 50% of the hiring manager sample to work on.

[vcorn]

Originally Posted by freeier

let's put it another way.
i started mine years ago before i joined the financial industry. i have never put it inside my resume i think.

after i joined the industry (in 2003 supported by a master of science in financial engineering), i continued my cfa and am now retrying my level 3.

so having gone thru it myself, and being in a position that i occasionally help hires front office personnel, NO, I would not use CFA as a criteria... i am willing to consider engineer with no financial experience and background. but it would be strictly his merits in previous job and not based on his attainment of cfa.


maybe someone that has not gone thru the programme him/herself wld think other wise..

ok then you have maybe 50% of the hiring manager sample to work on.

Okay, so the bottomline is that CFA is a must whether it will be looked at or not in the resume as you still take it eventhough you already had financial eng. degree.

As I am already in financial industry but in support line, I've learnt some financial products myself on-the-job way, what is your opinion of my next steps if I want to switch to Front Office via entry position like say sales/trading assistant in the desk?
As of now I can only think of CFA to support it.

Regarding comment by climber07, It seems really tough and has to join via Middle Office, I thought it will be better to join via entry level as Front desk assistant, why is it not the case?

[dipper]

Hard to see how being a member of the Cat Fanciers' Association would get you a job in banking unless the boss really likes cats. You never know though.