Breaking in to Finance from Mgmt. Consulting - H1B Visa Status - Florida

Water Cooler Careers
#1

Hi All,

I am originally from Venezuela and I have been living permanently in the US since 2014. In 2015 I got an MBA with a concentration in Finance from Babson College in Massachusetts and as of 2015 have been working as a Sr. Management Consulting for local consulting practice in Florida (I currently live in Miami – Although I have been in some finance related projects the majority of the engagements I have had relate to project management).

I have always had an interest and passion for finance and actually started working as an analyst fresh out of college in Venezuela (I also hold a bachelor’s degree in business), but for reasons related to economics and politics over the course of the last 15-20 years capital markets have been pretty much dead/non-existing in Venezuela.

I have successfully passed the first two levels of the CFA program and planned to take the third level next June (if I manage to pass I would have successfully passed all three levels in my first try – not that I think that matters…). I am currently employed under an H1B visa and plan to have a more permanent status shortly (I have been living with my GF whom is and American for three years now, and have as of recent been thinking about given that final step).

Like I said, I have always had a passion for finance, during my MBA I managed a portion of the schools endowment money in a 100% equity fund, and progressively discovered that I wanted to have a career somewhere on the buy-side in an analyst role and maybe hopefully later down the road as a money manager. I am aware, that these positions are hard to get and as such, my second best option would be to take a client facing role that combines some of the learnings that came with consulting (i.e. dealing with clients, addressing needs, etc.) with investment management (although I am entirely sure that a role like this exists as of present)…

In essence, I am looking for any advice that would help me in making this transition from Consulting to Finance. Please share with me any thoughts you may have on the following:

  • What is/are the roles in which a transition (as described above), has the highest chances of success?
  • What actions can be taken to cover gaps related to lack of experience (For example, I have already taken and advanced certification in Excel Modeling and valuation – Wall Street Prep. I would welcome any other initiatives you guys consider productive – I am also an avid reader and have tried over the last three years to read all of the Finance must books…)
  • Is having an H1b visa status a handicap? Or, merely just a hurdle?
  • What strategies have work for you guys in the past as it relates to getting a role in finance? (I have limited contacts here and I am doing my best to network, but I really have no edge here. I have found that due to nature of the job networking with people in these positions is hard i.e. the events have big price tags and I don’t really know a lot of people directly in the industry. I considered joining the CFA society in MIA but not sure I can give this requirement: “Have 48 months of acceptable professional work experience in investment decision making”)
  • Any approaches to networking that you would recommend to someone whom is not a US native or lacks specific contacts in the industry?
  • What websites are the most appropriate to post resumes/CVs for finance roles?
  • What is your opinion on interview guides and similar materials that claim to be contributors to success when going through the interview process? (I have seen sites like: https://www.mergersandinquisitions.com/getstarted/, that offer material like this)…Thoughts?
  • What are the top 3 things that you would devote your time in to succeed in this transition?. And, any other things that I may be missing

Sorry if this is a lot, but I feel that my context/situation is not very plain vanilla so I wanted to front load as much relevant detail as I could. In closing, I am 31, speak both English and Spanish, 3.71 GPA (MBA), 3.70 GPA Bachelors, CFA Level III candidate, 3+ years of consulting experience, residing in Miami and determined to do what it takes. I truly appreciate all of your comments and input that you think can help…

#2

H1B is the biggest problem, as it will disqualify you from essentially all small firm jobs, and most large firm jobs (given your credentials). It’s almost not even worth trying until that is changed. Other than that, something related to sales is probably the most feasible option. You won’t get into VC, PE stuff without IB background, and it doesn’t seem like you have any quantitative skills. Hopefully, you have good people skills.

#3

Thanks a lot for your input!!! My status is likely to change soon… Hopefully this will increase my chances. You mentioned lack of quantitative skills. I would like to address that. In your opinion how can a bridge this gap?

Is passing the first two levels of the CFA program, an MBA with a finance concentration and bachelors degree in business of little impact/evidence?

Not trying to disprove your point, but I believe that I do have the required quantitative skills. I simply seek your opinion in relation to what body of evidence leads you to this conclusion and what can I do to showcase that this is effectively not a gap,

Thanks in advance!

#4

Do you have a PhD in physics/math/engineering? If not, do you have a CS/Electrical Engineering/Math MS, undergraduate or similar degree?

If not, you do can claim to have some functional knowledge of finance math, but you will not be considered for heavily quantitative functions.

#5

I PM’d you. Might be able to help.

#6

Just PM’d you!

#7

Any other comments/thoughts?