Advice needed finance, needed

Elliotbay

Hi All,
I work at a very big IB on Wall Street from India in the technology department. I have a strong inclination towards finance and thats why I have signed up CFA level 1 in december 2009. I am a 2008 pass out from a prominent Engineering college in Mumbai, India....so I have a little over 1 year of experience in my pocket...My job is to develop, maintain and enhance equity/equity derivatives applications which are used by traders on wall street.
Will it be easy for me to move into finance once I clear Level 1?
How do i go about it?
should i shift to another dept (like equity/debt research) in the same firm or switch over and when?

thanks in advance

waldziuchna

"Will it be easy for me to move into finance once I clear Level 1?"

What do you mean by "move into finance?" You want to move to the back-office, IB, ER, HF, PE???

Be a little bit more specific.

Plus, clearing L3 is not guaranteed to easily take you anywhere, talkless of clearing L1.

Now I think shifting to another department internally (ER, Trading...etc) is a better route than depending on the CFA.

I'm a big believer in networking and gaining experience. Passing the CFA will help, but is not going to guarantee anything really.

ogoluwa

varundarji, CFA will surely give you a good outline of the investment world.

Also, it will help you understand the very applications, you are developing now.

I guess, in the short term do what you are doing along with taking CFA. In short-medium term target to become Business Analyst, people who bridge Investment Business with IT. And then subsequently target to be Investment Analyst.

But as Damil said, CFA is only the icing on cake, it will help you but cannot guarantee you anything by itself.

Bulla564

"Will it be easy for me to move into finance once I clear Level 1?"
---this means...i wana pursue my career in Equity research/Debt Reserch/Analysis of Risk like Country/sector ---> Investment analyst
--------------------
secondly i agreet hat Passing the CFA will help, but is not going to guarantee anything really....

I have less inclination towards being an business analyst...some guys in my office are BAs but only do testing for the software i develop.....i know this is not wat BAs are suppose do this is the reality here.....

Bluetick1010

It may be quite difficult to get a Equity research/Debt Reserch/Analysis job, just based on L1 qualification.

How is CFA recognized in India? Specially where in you are currently working?

But since you are already working for an IB, it may be easier for you to do a lateral shift in the same company.

Other than that, keep appropriate people/bosses in that area informed about your interests, intentions and about your being CFA L1 candidate. Also, surely broadcast it among them when you have cleared it.

Another more sure way to get in where you want to be, is by doing a full time MBA in finance but from a REPUTABLE business school ONLY.

This is what I understand. Others may not agree with me.

Best.

Kiakaha

^ Dude don't argue about the why and just face reality.

The CFA by itself won't get you an Equity Research/Debt Research/Analysis job. You are not guaranteed anything.

Stop whining.

siavosh

First of all, the Level I is not a qualification in its own (strictly speaking)

That being said, from my limited knowledge of the Indian and Middle East job markets I think the CFA definitely helps. I know in India last year (during the real boom in the stock market) there was a dearth of qualified people to work in research/ derivatives analysis jobs, and I know that they mentioned a shortage of CFA's (whether that refers to candidates or charterholders or both, I don’t recall)

Either way the U.S job market is very different. India and China are still lacking qualified and experienced securities industry personnel. That being said, the CFA alone is no 'guarantee' for anything. Experience, proficiency in English and polish are a couple of other things that employers look for in these markets. Plus in research you need to know financial modeling and have decent writing skills.

dontknow1987

Dami4Real...I am not arguing....I am just asking...the reson...
Please dont take it too personally

kamara5

varun,

Some reality chat here. You wont know the credentials of passing L1 if you didnt write the exam, pass it and apply for transition. Personally, I think possesing it does make you standout from the crowd if you furnish your resume with something extra.

If you're looking for assurance, you will find NONE here. It's all on a personal basis. My personal experience tells me it does help. Limited to an opportunity of interviewing but not landing the job.

The best post in this thread is by beatthecfa. The credentials for L1 in US and in India will differ by a mile. Spot on!!! We're in short of sector specialist. Put aside comparison, the best thing to do is keep trying. Apply for a transfer and write the exam at the same time since MBA is no longer an option to you.

dcfox83

yes totally agree...thanks "keelim"