How to 'break in' to the finance industry?

CFA General
#1

Hi guys,

I’ve been reading a lot of posts lately about how difficult it is to break in to the finance industry. First off, what exactly entails ‘breaking into’ the industry? Does this just mean getting some sort of beginner investment analyst position (CFA designation - portfolio management position long term kept in mind here)?

What would be my best bet if I wanted to ‘break into’ this industry? I’m currently 20 years old, 2 years away from completing my Finance (and hopefully Accounting) major, and 1 year away from registering for the CFA level 1 exam. By no means is my school and Ivy league school.

In addition to this, I’m in the school’s Co-op program, entailing 3 x 4 month work terms at various locations. I’m currently on my first work term, doing highly irrelevant work (basically learning how to use excel and it’s my first time working in a ‘business’ environment). My next two terms I’m hoping to land actual finance related positions, since that’s all I’ll be applying for and the placement rate is 100% for second and third co-op terms. I’m really not sure if this is considered ‘breaking into’ the finance industry.

Any thoughts on this would be greatly appreciated. I’m in a hurry so this post was rushed, please ignore how poorly written/structured it is lol.

Thanks!

#2

Um, some stuff that seems pretty opaque right now will make a ton of sense with say, 5 years of experience. Hang in there. You have plenty of time.

#3

“I don’t quite understand what ‘breaking into finance’ means, but I want it!”

#4

“an” Ivy league school

Anyway, “breaking in” really entails landing some kind of job in the finance industry, hopefully doing what you want to do. i.e. if you want to be an ops guy, you are a junior fund accountant (yech), if you want to be on the research side, maybe an assistant analyst or something, if you want to be a marketing clown, maybe some kind of sales job.

That co-op thing sounds like a good deal, should be good to have on a resume. If you want to do some kind of investment management, then yes, get that CFA level 1 out of the way asap. Based on what you are studying it should overlap well. It’s also the easiest by far of the three exams, so if you fail after trying hard, you should know that the CFA is not for you (because you will never pass II or III).

Good luck.

#5

Try with buying a pocket of Cohiba Grand Corona to key manager, have you watched the movie with Charlie Sheen and Michael Douglas?