I’m looking for some general advice on moving from the back office to the front office (analyst). Currently I see passing one or more CFA exams as the best option. Some background: I’m currently a software engineer at a HF. I have a graduate level education in computer science. I have been working in software relating to the financial/accounting industries for 6yrs with the last 1.5 in the HF world. I also have a little background in a somewhat exploratory and unfinished MS in economics (the best things to ever happen in my life took over – wife and son). I am currently tearing through my wife’s textbooks from her BS in finance. Anyone care to offer advice as to the objective? Is taking the first exam next June a decent first step? How many of the exams should I pass before attempting the move? Am I wrong to understand the range for junior analyst positions centers around 100 with an equal or greater bonus assuming competence? Thanks
It’s not an easy feat though there are some people who have done it successfully. It also depends on the firm you’re working for. If your company is open to these internal job changes and you have a boss who supports you, then you’ll have better chances of moving to front office provided you have the requisite knowledge to suit that front office role. Yes, taking the CFA might help, but you’ll probably need to do it all the way until Level 3 in order to see some results. You might also consider taking a Master’s in Finance in a top-tier university. I know that some of the ivy-leagues offer such programs but the names escape me now. Many of the students there also come from an IT background.
sounds like you ripped my advice buddy
To move from BO to FO, getting a MBA from a good program is your better bet. I doubt even passing all 3 levels of the CFA program will help. The networking and recruiting opportunities in a MBA program will help more.
CFA is helpful only in equity research field. But you need to be working as an analyst when you start the CFA program.
1st thing I would do is to find out if the CFA is valued at your firm? If so I would probably start taking the exames and work towards an internal move. I’m guessing its going to be of marginal help so your options are (1) MBA at a top 10 school and hope to get recuited out, (2) try to get an entry level investment related job elsewhere (protential pay cut), (3) move to another firm doing your same job but one that promotes internally (employer might not follow through). So now examine your opportunity costs.
i put this on a post a few years back: I would not say the jump is tough to make but more the culture of the firm to make it. For instance, if you have some turnover or a growing desk then it may happen quicker. If you have a head of trading that rather hire exp people then bring someone up then it may be tough. Often times there is much more happening then the person simply requesting a job. You need a few things to happen or go your way.
I’m interested in this CFA vs MBA debate. My impression is that generally speaking ladder climbers pursue an MBA and people in the investment industry pass CFA exams. My positions is supported by my experience. At the risk of looking like a total jack*** I doubt very seriously every junior analyst/PM I’ve met went to Wharton. With that risk in mind feel free to educate me.
Programming -> quant -> analyst might be more feasible than programming -> analyst. When I talk to quants, they sometimes mention that tech people want their jobs.
You mean these tech people want their paychecks…not necessarily their jobs…