Master's in Finance - Canada (Queens vs Schulich vs Rotman) vs CFA Level 2

CFA General
#1

Dear All,

I have cleared CFA level 2 and have 4.5 years work experience on the credit side in Mumbai, India.

I am planning to move to Toronto, Canada and my PR application is under process. Will CFA level 2 suffice to get a job on credit side with decent salary or should I pursue masters in finance at Queen’s university of Schulich?

Kindly help!! Fees are in the range of CAD 43-50k for domestic and PR students.

Thanks.

#2

I’m not an expert on the subject on the matter but what I have understood from this forum and being fairly active in the CFA scene is this:

Toronto is saturated with CFAs. One could even say that there is oversupply of CFAs. For this reason, I do not think lvl2 would help you tremendously in finding a decent job.

Not trying to be Negative Nancy but this is the way I see the situation in Toronto.

But as I said, I’m no expert. So, if there are any CFAs/candidates in the Toronto area, please pipe in and help the brother out!

#3

I remember lots and lots and lots and lots and lots of people showing up to the Toronto centre back in my day. If anything, I expect the number has increased.

#4

Says the guy who’s going to fail any Level III questions on Standard VII(B).

:wink:

#5

Excuse moi everyone, Toronto is saturated with Chartered Financial Analysts and candidates in the CFA program :wink:

#6

Says the guy who’s going to fail any Level III questions on Standard VII(B).

:wink:

#7

Well, whatever you call 'em, we’re up to our eyeballs in 'em!!! :sob:

#8

I used to teach classes for all three levels at OTPP. You’re preaching to the choir here.

#9

Is it possible to have CFA exams nullified ? :sob:

IMO, I think my LVL1 and LVL2 exams should be and I should go back to being LVL1 candidate haha!

#10

I am in the Toronto Rotman undergrad program atm and I can tell you that in the MBA program, we have so many people who are in a similar situation. I am not sure what their job success rate is like but I am pretty sure that the main factor here is networking into jobs cuz we already have so many CFA’s / Masters students in the GTA.

I know some people from India that had senior positions there but they had to start from an entry/mid level position here and then they moved up the ladder. So yea, I guess be open to any possibilities…

#11

Third time lucky?

#12

Speaking as someone who was involved in the local society, you are kinda right.

There is a glut of CFAs and people who have finished exams, but very few people are quality candidates with a solid command of English (or French for that matter). Sorry, but communication ability matters a lot.

There is a glut of international students who really don’t know their sh*t, and only graduated from their masters programs because the schools can’t afford to turn down international student fees. This is especially true of places like India and China where there are a lot of undergrad diploma mills that give students a false impression of their abilities and of the standards required. I can’t tell you how easy it is to earn money doing assignments and papers for these people, who are literally buying their degrees.

No one is going to hire you if, at the interview stage, it’s obvious that you don’t know what you’re talking about. Despite appearances to the contrary, it’s very easy to hack these exams and learn to parrot the correct answers. When you’re not in a scripted situation, you can’t do that any more and so it immediately becomes obvious that you don’t know your sh*t.

#13

Hello tinkushal,

I’m a Toronto-ian and I can understand where you are coming from. I have an MBA from Ivey Business School and a lot of my friends are from India who did their MBA as a way to get into the Canadian market. Here is my opinion.

A CFA Level 2 is not enough to get you into the door of any company. You will need to network and prove to hiring managers that you are worth hiring. Even a Masters in Finance will not guarantee you an interview or a job. Nor will an MBA do that.

Here are a few options though:

  1. Begin networking. Start with middle managers, but make your way up to senior level people. These are the people with hiring authority and their recommendations will really give you an edge over others.
  2. Don’t just look at Toronto. Look at surrounding areas as well. In fact go broad if you want. For example, one of my MBA friends started searching in Toronto, but he went to Ottawa for a weekend and ended up getting a great job there instead. So look at places like Mississauga, Hamilton, Ajax, Pickering, etc., but if you want to also look outside.
  3. Apply, apply, apply, apply. Don’t give up hope. Networking will only get you that far, but you also need to apply to jobs. This application process will work better for smaller companies, not the big banks. The big banks rely mostly on word-of-mouth and recommendations.
  4. If you really want to pursue a degree, go to a university that has a strong alumni base and a culture of paying it forward. Look for a university with strong career management assistance and events. Between the 3 you listed above, Queens is a good choice. Rotman (in my personal opinion) is overrated and they do not have the strong alumni network or career management team. I went to UFT for my undergrad and I had zero help in searching for a job or reaching out to alumni. Schulich is also good, but Queens is the better option. Ivey is another good school. You can also go out to west to UBC. These are just 3 I know off the top of my head.

I hope that helps. If you want to discuss more, please feel free to message me or post here and I’ll answer your questions.

#14

HINT: (something)holder

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