I am working in India in a company on buy side M&A… i would like to move to Private Equity or Investment bank,
I have also done MBA from a reputed Bschool in India, however i didnt get any interview calls with PE players even after passing Level II last year…
Will the Charter have any value if i want to move abroad to Singapore or US int he Finance Industry… Whats the way of going about it?
CFA is a recognized worldwide but I dont believe it will give you an “international opportunity”. I believe it’s all about experience and CFA could give you a push if others don’t have it.
Singapore and Hongkong have a lot of CFAs. The market is already saturated and not many jobs are available to outsiders. Ive been to singapore twice and used to check their classified daily. Was disappointed.
Is there anything like CFAs? Stop nailing ethics on its head!!
Didnt understand what you are trying to say Babsfrey. I just meant they have a lot of Charterholders there in Singapore as compared to their job market.
I think he was just saying that CFA is not to be used as a noun as you had done… Per CFAI Ethics book, you can say “CFA CHarterholders”, but cant say “CFAs”…
It can’t hurt, but not sure how much it will help. I think your biggest way to get an offer abroad is to do something that those countries don’t have enough of or do it for way less money than your average citizen would. In the US programming skills or engineering come to mind as an example of something where we have a shortage or will import Indians todo it at a lower price.
CFA jobs tend not be the type of jobs where people are looking to cut corners and save a few bucks. They are generally well paid. Unsurprisingly, there are many many many candidates willing and able to fill them. So there you go. Also they are jobs that depend on experience and relationships, so importing anyone fresh off the boat from Bangalore would be detrimental as you want somebody who knows the industry, with a track record who fits in socially and doesn’t creep out your clients.
Personally I’d say you re better off staying in buy side m&a in India. I’m in Indian PE and can’t fathom why anyone would want to move abroad and do this in Singapore or the US currently.
Personally, candidacy in the CFA program hasn’t helped me much in the job market except for impressing a few of my colleagues. That being said, I haven’t lost hope at all. There are always opportunities. But don’t expect that passing Level 3 and getting your charter will land you a great job abroad. I don’t believe in it any more after my experience in Turkey and Russia.
Despite that, I kept studying for the Level 3 exam even after I failed the first time. I guess there is just hope in me that gives me strenth and patience.
Unfortunately, you say you have a prestigious MBA. One way to get a job in the US market will be through the MBA route of the top business schools.
@TRH How is CFA charter seen by PE players in India? Does it garner any respect?
^ I’m far from a typical so don’t use me as a benchmark. For starters, I’m not Indian, I just work there. My track record is all that matters. THE CFA DOES NOT MATTER for me. Respected sure. But really my IRR is what I brag about on my CV and what allows me to keep my job. That said Indians love their certifications and qualifications. I’ll say what I’ve always said, there are way too many CFA candidates here in India already so as someone looking to hire you I’d want some other skill or experience.
Don’t regret the program at all, as I really needed it, having no business or finance background. It filled a huge gap in for me and I actually get to use most of the stuff we learned fairly frequently.
I’m a level 3 candidate. I I found out I passed, then great. If I don’t I should probably quit the program as I don’t see it as necessity at this point in my career. My sense of pride would probably have me do it again. But I’m not sure that is a good reason to do it. My 2 cents.
The charter has really nothing to do with the PE/VC space. It’s sad to see the pool being tainted by people who don’t recognize what the charter is for and what it does.
The M&A space in the US is extremely competitve. Heck, FWIW, all Finance gigs are extremely hard to get into nowadays because of the oversupply of talent.
If you want to try to break into PE in the US, try going to one of the top five MBA schools here. Even then it’s not a done deal because the PE space is even more dependent on liquidity and tends to lag the general liquidity in the asset management sector. People’s chances of getting into PE may improve once the economy picks up more steam… maybe like 3-4 years out (and assuming the EU doesn’t go bust).
Thanks to having my charter, I’ve been able to teach in Vancouver, Toronto, London, Paris, Geneva, Zürich, Frankfurt, Moscow, and Kiev (as well as doing webinars for candidates in Malaysia and Singapore).
It’s certainly given me opportunities abroad that I wouldn’t have had otherwise.
^ Good point!
In general, I think it will definitely open more doors for you in any part of the world where CFA skills are needed. However, for your case, there are a few practical things here I know from friends’ experiences:
Work Visa: esp. for US, EU.
Language barriers (for non-English speaking countries): Unless it’s an internal transfer, you are more likely to be required to speak the local language fluently (German, French, Chinese, Portuguese, etc.) to do anything that makes your move financially worthwhile.
Supply and Demand: as mentioned above.
Thanks TRH… its not that i am desperate to get abroad… but on the buy side M&A, things move a bit slowly and it depends a lot on the promoters view… i can change organisations but things wouldnt be much different.
I am not too keen to join Investment banking but not averse if thats the stepping stone
i would like to be a part of a good PE players who has good funds to invest. I thought that such opportunities to be a part of a PE might be better abroad and thats why the question.
I would like to gain good experience in investing and think that a PE player or a Hedgefund might be a better option .
How do i get into that is a big question though?
Ironically, my CFA candidacy hasn’t helpmed me at all in the job market. Despite that, I am strongly willing to get the charter. I don’t even know why, but I tried hard for these exams (especially for L3 since it’s my second attempt).
A good network is important to get into PE in India. But that said PE scene is not that good in India or abroad anywich ways
Breaking into PE is tough. Perhaps tougher than CFA L3 because the rules aren’t known/ common across the board. I am in the same boat as you with nearly 7 years of work experience in sell side investment banking.
Most PE funds aren’t hiring - they are over staffed, sitting on investments with little scope of exit. Very few funds looking at expanding teams. I have tried with my network which includes managing directors and chairpersons of PE funds, but to no avail.
If you are already in PE - like Righteous - you are lucky and can ride out the storm till things get better - PE generally expands with a lag after the economy expands. If not, few will make it in now and then also, I feel they will be people either from IIMs/ISB or at more senior levels - therefore, more work experience and track record.
More to the point - I don’t think the charter opens doors - if you already have a foot in, it might help you get a nose in - nothing more. Whether abroad or India, it doesnt matter as much. Though I would believe PE in India would recover faster than abroad purely because of greater long term scope. Also, for a charter holder because the number of charter holders are still under 1000 (this is from the CFA website country breakup as on Dec 2012), it makes the charter slightly more valuable.
My 0.02.
@Righteous - if you dont mind my asking, what is the situation at the fund where you are working? Whats the background of your fund - Indian or foreign? Any scope for hiring me? 