Canadian non-target school and a mediocre GPA (unworthy of putting it on resume) - however, I excelled in all my finance courses and taught myself TA & financial modeling during my free time.
Have no formal experience in anything related to finance - therefore, I can’t make an informative decision on what I’d like to do.
I have a very strong sales and customer service experience, and I excelled in various call leads jobs.
very confused on career options and not sure where to start and what types of jobs to apply to.
I spoke to a six professors and professionals in my network for advice and I got two main conflicting feedback:
some suggested that I do some reflection and decide exactly on what I want to do and then draft a plan on how to get there (e.g. certifications, potential employers, where and who to network with)
others suggested I do everything I can right now and just enjoy the journey. They suggested I take CFA level 1 in December and do the CSC, which is a license to sell mutual funds - an easy version of CFA Level 1 - legally required to become an adviser in Canada, and to apply to all jobs possible and then figure out what I want on the way.
Right now I am erring towards the second advice because the more reflection I do, the more I fall into paralysis by analysis. I am thinking of just doing the CSC asap so I can step into the financial services world as an investment adviser/financial services rep and then keep my other options open by pursuing the CFA and networking.
Only thing I’m afraid of, and that is according to one of my professors, that being dubbed as an advisor will make it harder to break through other finance and management careers.
if i had any idea how hard the cfa exams were going to be. i wouldnt have done it. esp cuz there is a high chance you will not complete it. when i graduated, i had a quote that said i wanted to be a financial advisor on a scholarship website. i really meant a financial advisor to myself as i already wanted to retire lol. i think cpa is easier. as i have met cpa who rage quite the cfa exams. so i might do the cpa instead. if i can roll back the hands of time.
but now you’re a charter holder. I feel like being a charter holder not only shows you’re an expert in finance, but it also shows you’re willing to put in 1000 hours of studying of your own time and that shows a lot about work ethic and character.
Nobody in real life at least it was for me in NYC in the hedge fund world thinks that CFA means you’re an “expert” in finance…After all the pass rate is around 40% for each level meaning you just gotta be little better than the middle of the pack to pass…Getting an MBA from top20 will get you more respect and notice.
If you want a high finance job here is what you do…You can take CFA right now if you want but more importantly, take any job you can right now and just kick ass! Volunteer consistently for the next few years and ace the GMAT in a few years…Now you might be some back office guy or corporate accountant or auditor (nothing wrong with these) but you still have that dream of working a FO analyst…Now you get your top20 MBA and this MBA will be your tool to transform your career and lifestyle…New job, new money, new friends, new elevated network, etc.
then some might say yeah but CFA is so much cheaper compared to the MBA…well sometimes you get what you paid for kiddo
yeah nobody gives a shit about the CFA in the hedge fund space, maybe if the hiring manager has one that’ll give you some brownie points. Top schools and stellar resume matters more.
some very strong buyers remorse here. Who cares what hedge funds think? You 3 passed very tough exam and spent a lot hours of your own time studying for it and now I am sure your knowledge in finance is at least within the top 10% of the world population.
what nal is saying is true, we are definitely better experts than most. but to be fair. the more you learn, the more you realize how much you dont really know and how much of what you learned is really useless, goes for college as well. what you do learn is that other people who claim to be experts arent really experts, you become better at sensing bullshit. as for glorifying hedge funds, lets be real. they all suck the d and have underperformed so who really does care what they think.
you’re really smart and really want options —–MBA/JD
you’re really smart and want security and guaranteed $300k income —– MD
you’re really smart and want to make seven figures in 10 years —— MS/PhD in computer science, financial engineering
you’re really smart and patriotic —– MS/PhD in physics, math or some engineering
not that smart but hope to have some options in finance —– CFA
OP, you’re a CFA material…Forget about what I wrote a few threads up about your route to MBA and potentially to a FO role…you’re a CFA material and CFA only…Go get it kid!
MBA in finance is an absolute joke, especially if you have BCOM.
I’ve met many successful analysts and very rarely they have MBAs in Finance. The ones who do, however, have a bachelors in math, CS, or statistics.
Seems to me you’re the kinda guy that only chases $ and disregards passion. Why would I get a JD or an MD if I’m not interested in these fields? wtf is the matter with you?
“BUT hedge funds and IB love finance MBAs!!!” yeah and that’s why they never beat the market and most IB never last more than 2 years or end up killing themselves or marrying women 24 years older than them (See: Emmanuel Macron)
I’m guessing you had to repeat all your CFA exams at least once so you’re costs piled up and equaled the cost of an MBA, buyer’s remose, LOL.
Nice troll so far… but if not you should know that the hedge fund space where people make the big bucks is still a clubby industry and ultimately pedigree and connections matter more than what you think you know.
well the OP, Nalbukhari, is an expert…ignores all opinions and advice given so far…Do whatever you want kid…oh wait…you went to “Canadian non-target school and a mediocre GPA” and “Have no formal experience in anything related to finance”…LMAO
This is why your professors and others in your network told you to go sell some mutual funds as a “financial advisor” aka mutual funds and insurance sales agent…Maybe maybe after 10 years of this you can become an RIA and call yourself “client portfolio manager” hahaha.
Good luck kid!
Btw Passion you say?? my passion is spending time with family…passion lies in traveling with comfort and luxury…my career helps me achieve those…So yes, I do chase money because my passion does not involve working 60 hours a week looking at 10Ks and talking with the mgmt of the companies I am researching on or talking with investors on some of our winners and losers and our take on the economy…My passion is in my family…work is just work…I do enjoy my work however not because of the things I do at my job but because of the people I am surrounded with.
Just another kid who feels they can do it as well as anyone else, should have it all but have nothing to prove they belong, only their word.
Try selling yourself in an interview about your passion for finance (which direction you don’t even know yet). Any pro will laugh at you or hurry you out the door. People who last in the industry work for their real passion: life, family, experiences, finance is just what they’re good at.
You clearly didn’t even read my question because it wasn’t whether I should do an MBA or a CFA.
Judging from your replies to other threads, it seems like you have a tangle of BS in your head that you feel the need to spew everywhere regardless of its relevance.
You can also achieve that “passion” of yours by working a minimum wage job in Ontario. IBs, lawyers, and doctors work well over 60 hours a week. I don’t know know what planet you live in where you just get a degree and all of a sudden you’re making 6 figures working light hours.
I gotta admit though, I like the subtle trolling in your original condescending ad-hominem and straw man themed advice insult.
well actually my first post was sincere…you want that high finance job (FO) yes? Really the only way is top20 or top10 MBA given your credentials of lackluster undergrad brand name and gpa…Doing any of those options you mentioned will probably not get you to high finance jobs…THAT IS WHY I mentioned the possible route to MBA for you…