Short background - 25, Chartered accountant form India, CFA L3 candidate (got band 9 in 2015), Currently working in Ernst and young TAS-TS, Solid in accounting, BIWS financial modelling course, Regular member at toastmasters.
Im interested in working in Toronto, Canada, obviously in the finance area (IB would be nice
Few friends with similar backgrounds who have gone here say finance jobs for capable candidates are not hard to find. Have some CA friends over there working in McKinsey, Accenture & BDC canada.
I am still undecided between working in toronto for a year or so (on the basis of CA, CFA & Big 4) and then go for the MBA (solely canadian schools) or go for MBA first. Should i also go for the canadian CPA ? The US CPA ??
I know that canada already has the highest number of CFA charterholders and candidates, but should this stop me from working hard and going for my dream.
Almost everyone here has slogged or is slogging right now, aint this true ?
According to this board it seems like every Indian wants to move to Canada and work in finance. I have no experience of the Canadian job market so canāt really contribute anything specific, but it seems like many others have the same plan as you.
@S666 I dont know about others, but i really want to do this when it is still possible. I can get a front office Izb job in India( big 4 or Big boutiques ) but want to explore more.
The only reason i dont want to get an mba from the USA is i dont want to live there, and getting an mba from USA and then moving to Canada seems too loopy unless i get top 10 MBA.
Btw one of my friend (27, CFA, GMAT 760, big 4 audit workex, fine extra curr.) got an admit in rotman on 30% scholarship but he did not take it as he got a 100% scholarship from NYU stern. Dont know how he got it, you can call it fate as he was the only Indian to apply this year. Maybe some other reason too.
So for me an MBA is also a route of entry. But I also want to fully use the CA and CFA.
There is a ton of competition for finance jobs in Canada. A TON. CFA Candidacy means essentially nothing unless you already have the charter (even still we have the highest number of Charterholders and candidates as someone already mentioned) and relavent work experience. I know charterholders working in my back office department There are yongins graduating from top schools who have done internships at the top IBās and accounting firms throughout school who already have those jobs all but locked up. If your friends came over and found good jobs at those firms, your best bet would be talking to them and seeing if they can get you in. It will be extremely difficult for someone to come over with no Canadian work experience and secure a job in a top firm over the many qualified graduates we have coming out of school.
@stageright You are perhaps right, so my best bet would be an MBA, but i believe anything is possible. Lets see how things work out. I know I am at par with all those candidated seeking a job in toronto.
@atush people like you are the most hated buddy. You are not the authority on eveyrthing buddy.Sorry to say but your opinions are worthless as you are.
Accounting societies like Actuarial ones are pretty centralized worldwide. Iām not sure if itās still the same but a couple of years back you could easily convert your degree depending on the MOUās signed by various organizations. If I were you, Iād convert the degree, ask E & Y for a transfer to their Toronto office which shouldnāt be difficult and get a couple of years ex. since you still have time on your side. An MBA from a good school after that should put you in a reasonable enough position to push on.
Atush is just butt hurt or frustrated with his lackluster career and his failure to get into finance. sad reallyā¦
Anyways you have really solid work experience. If you want to move and give it a shot why not? Now is always the best time than later. Donāt need to ask on AF. Ask your mentor or real people who actually made it and/or care about you. They will give you real advice or constrcutive criticism and who knows even a connection. Here you will most likely just find āyou canāt do it ā¦no shotā¦top 2 mba or hacksaw.ā It is funny the first few times but gets real old real fast.
@scatman The mou is still there. I just have to give 3 exams and ill get the candian CA and CPA both, but im not sure if ill go fot it or not. @infinitybenzo Super thanks for the motivation buddy. its now or never.
Your CFA in Toronto doesnāt mean all that much, as previous posters have already mentioned. If anything, it only puts you on the same level as the rest of the well-qualified job seekers.
For top finance jobs (you did mention IB), there are very few openings in Toronto compared to the overwhelming number of qualified (and underqualified but aspiring) candidates.
Let me put this in perspective:
Rotman MBA class is about 350 students, letās say only 10% (realistically itās more than that) are interested in top finance jobs, thatās 35 students every year looking for those lucrative jobs. On top of that, add other top ranked MBA programs (Ivey, Queens) and the MBA job seeking pool tripples. This is your competition strictly for on-campus recruiting. For the 2015 graduating class, I would say there were ~6-8 IB Associate spots amongst all the top Canadian banks recruiting at all the top MBA programs in Canada.
If you donāt get a job offer during on campus recruiting then who is your competition after graduation? Wellā¦ you have people from your class who also didnāt get an offer during on-campus recruiting cycle. Then you have MBA grads from a year ago who didnāt get their dream finance job and are giving it a shot this year, also competing against the graduating class. And then you obviously have all the people in the industry looking to break into finance or looking to switch from one type of finance job to another.
The downside for you is that you donāt have finance experience in Canada. This is a big negative. Even if you do an MBA here in Canada, itās only an education credentialā¦ work experience matters a lot more.
My advice, ask E&Y for a transfer to their Toronto office, continue working in TAS at least for a year in Toronto, and then maybe consider doing MBA. That way you will have some Canadian experience on your resume.
@kblade Thanks for the detalied post sir. As far as competetion goes, india has almost 50 times more competetion than what you specified i would be facing in Canada, and yet i think i havedone fairly well. I am not crediting my sucess to my self, i am solely dedicating it to GOD and my family. I can anytime get a good front office IB role anywhere in India any time i want ( i declined an offer from one of the bigger boutiues in India because of the EY brand name and working hours that are essential to study for the GMAT and CFA.
I know my capabilites and limits as well, where i can shine and where i lack gravely. In the end it is the happYness that matters.
Yo have given me a solid & practical advice which i would seriously consider. Btw how would you rate queens for an MBA vs other canadian schools?
It is competition not ācompetetionā. First of all, it is foolish enough to compare compeition level of two countries. You are way optimistic and over confident about your credentials. Once you will be here you will understand that why competition level in Canada is of different nature.
EY brand? in indiaā¦ I had many people in my group working there. It is nothing more than a typical outsourcing work. No matter how do you explain people that you were a rockstar in India, companies in Canada know what goes in Indian officesā¦ Cheap labor and Cheap workā¦
Someone already told you about MBAs hereā¦hundreads of candidates are out there with stronger network than you and maybe with solid work experience including Canadian. MBA wonāt help. Transfer? I donāt think they are going to send you over here for no reasonsā¦ try getting it.
Go to States if you canā¦ you will thank me laterā¦
@atush first of all, any one can make a spelling error.
You present yourself as someone who believes only he is born with privilege, well let me tell you atush, people have made it and they will keep doing the same in the future. Your negativity wont be affecting anyone in this forum.
I have a habit of winning (only with the grace of the almighty) and you are absolutely a tiny bump in the road. Good luck buddy.
I think you misunderstand Atush. He is not trying to break your dream, but just pointing some true reality of Canada and western countries to you.
You will understand better once here. For now you cannot really get it as you still see your value in India as fully transferable to Canada. But sad reality is that is not always the case. Most of the time, you will face people who wonāt even consider your indian background at all
@missyota i have understood atush correctly, but his way of conveying the information shows that he is all knowing and everyone else is just foolish to even try something new.
The fact is that less qualified people have made it & so will I. But in the end it all boils down to fate, some people put in no effort and still make it and some put in endless effort and fail to make it.
