I am writing level 3 exam for the first time in June 2015, and with no prior work experience in Finance I was wondering how hard would it be to find a an entry level job in equity research or IB? I have few years of work experience working as an accountant in industry and I am trying my best to network as much as possible at my local CFA society.
At this point I dont want to go for a masters in finance which is listed as a requirement for most of the jobs these days. I was wondering if someone who was in a smiliar situation had a career change after passing level 3.
I really cant answer this question, but it is extremely dumb IMO if a firm would hire someone with a master in finance but not someone who has passed all three levels of the CFA exams.
Hey mj2014, I’m in a similar situation. Bromion is right, location matters, and it’s going to be an uphill battle. Try to leverage your network and industry experience the best you can, you must have the drive and passion to succeed in the business. At time, it may seem helpless and feel that there’s nothing you can do, but there are; there are always more than one route to get to hwere you want to be, just have to hustle it out, in another word, avoid tunnel vision and keep working hard.
^ yes, and dare I add, in Canada, if you have both MSF and CFA you’ll still face an uphill battle if you have no research experience (and even if you do).
But this “dumb” thing happens all the time at least in NYC. Masters in Finance from NYU is not equal to passing 3 levels of the CFA exam. NYU program wins 99 out of 100 times. The other one time is because the CFA dude is the son of the MD at the firm.
But then I actually don’t know. I am not in ER or IB.
CFA Pogram has its place, especially for discretionary portfolio managment, you need to be a Charterholder with few exceptions depending on the country of residence. MSF is easier to obtain and the reason it adds value is because one can finish it within a year especially when they dont have relevant work experience.
i know having both CFA and MSF adds more value to the resume, and no doubt adding some other certificate on top can add even more value, but the question is where to draw the line?
I am not sure if Masterns in Finance is “easier” than passing the CFA exams. I guess it depends on what program you are going for. I will say this however, I have never heard anyone who said they got a job after passing the CFA exams or through CFA career programs (there is none). But I have heard people who landed FO jobs after a masters in finance from NYU or Columbia. Just my opinion. Passing three exams will not open big doors and all of a sudden change your career.
I disagree, I would flat out not hire someone with a Master’s in Finance. It’s sort of like the CFA but more expensive and time consuming and therefore even worse, particularly if the candidate has higher salary expectations because of it. It’s like paying more for no discernible benefit.
There’s no one best answer and a wide varity of view points play out in the market, but I don’t think you can say 99/100.
Edit: I can’t think of even one person I know or have heard of in a good front office hedge fund role with an MA in Finance. I’m sure they exist but my 500+ connections on LinkedIn begs to differ.
whatttt really? I don’t have MSF so this is bright news. Is MSF easy to get in? I always thought that masters from top schools is always better than the CFA program.