I passed L3 this past June and I was able to get my work experience approved thanks to my current job as an Investment Analyst for a small Private Wealth Management firm in Dallas. My previous experience is not as relevant since I worked 2 years as a market research analyst for a marketing firm, right after completing my MBA (not a top school program). I’m living in the US on a work visa, and decided to pursue the CFA designation so that it would help me for my next career move (and hopefully help me find a firm willing to sponsor the work visa).
After completing the CFA and spending a little over 4 years in PWM, I would like to pursue something different. However, the issue is that my current employer is set on the use of Technical Analysis and does not quite believe in Fundamental Analysis, and therefore I never really had the chance to get some real work experience with financial modeling and valuation. Most of the research we do for investment opportunities is focused on looking at charts, drawing trendlines, resistance,support and looking for specific patterns.
Am I screwed when it comes to applying for new jobs? What can I do to improve my situation? I thought about registering for an online financial modeling course, but will that be enough to prove potential employers that I could work as a research analyst, without any actual hands on work experience? I also feel like having both CFA and MBA would make it more difficult to get entry level jobs elsewhere.
First, remind me never to invest with your PWM company. lol
But seriously, I was in a kinda similar boat as you. Got my CFA while doing manager research, was over 30 by that point (but no MBA), and figured I might be to old to break into actual securities analysis.
I did order “wall st. prep’s” course (the paperback version) and modeled out a couple public companies on my own - poorly I might add looking back but it was a start. I started an investment blog where I wrote 1-3 pages on each company I modeled out and my fair value of their company. Bringing these write-ups and models to the interview I think showed the company I was at least serious about this career track as I did this all on my own.
I looked for entry level research jobs around my city and applied to a couple. I made sure to mention that I wasn’t looking for an experienced CFA salary as I knew I was breaking into a new field. I think that helped. Got the job, very happy now.
It can be done, but you have to get it yourself. If nothing else you seem to have a good reason to leave your current employer, which is always a question asked.