I graduated from BU in 2010 and have since worked as a financial analyst for a VC (1 year), a technology incubator/startup (4 years), for a logistics firm (3 years).
I’d like to move into equity research or portfolio management which is why I decided to pursue the CFA designation.
Given my above experience:
How likely would be I be able to find a job in equity research/portfolio management after I pass level 3 exam, given that I have no prior experience in those fields?
What salary range should I expect/ask for if I decide to work in cities such as Boston, NYC, Chicago, DC?
Frankly its brutal… not to be discouraging but I m a Charterholder… have 8 years experience in the industry and 4 years working in equity research and having a hard time right now finding a new job… I made a mistake moving to project finance /credit and feel like my career is over. at this point I have a better chance of hitting the mega millions tonight than landing a high speed equity research job.
most firm’s would rather just hire a fresh graduate from top 10 school than a career changer nearing 30. you’re also competing with MBA grads and people that have years ofGOOD experience. I don’t know what else to say… it’s tough
obviously if you know someone that is Managing Director - partner of a firm they can get you in tomorrow… but other than having an amazing connection you need to be super sharp… and an expert in accounting/ spreadsheet modeling if you ever get lucky enough to land an interview… there is no more time for management training programs or learning on the job. they want people that are turn key ready.
It’s possible for you to become an equity research person or something, if you can BS that your combination of industry experience and accounting background give you good insight into business workings. It would still help to get an MBA from a good school though to help with academic pedigree. Also, the field is pretty small. So, even if you take all the “right steps”, you probably won’t get the job you are envisioning today.
If I were in your position, I would focus on generally maximizing my current job market value. This would be through promotions, diagonal moves to different companies, or an MBA. If you become a more valuable, more impressive worker, you will be eligible for better opportunities. Let’s say you become a mid manager in finance in some random company, and this puts you on a realistic path to higher jobs in the field. This is better and more realistic for you than becoming some entry level ER when you are pushing 30.
My best friend works at Amazon in Downtown Seattle and has been telling me about FP&A jobs there. While they aren’t as sexy as ER or AM, they pay some VERY respectable comp. and total benefits are pretty great. Not sure how you feel about Seattle but they are hiring a TON of people.
Kind of interesting to me how so many people come here and are like, “I will work soo hard and do anything to change job… anything…!!” But it seems if they could really apply that super initiative to their own work, they should be able to advance in most fields…