Hi Guys,
I am currently working as an IT Business Analyst Consultant in Trust Servicing business at Jersey City, NJ. I have over 10 years of experience working as an IT Business Analyst in investment banking area. I have passed CFA Level 1 and registered for Level 2, I am planning to switch job as an Associate in IB area. I have about 9 months experience as an Equity Research Analyst with a Broking House in India back in 2001. Do you think I am being realistic in switching? How should I approach the job market and what should be my plan? Any tips or suggestions will be highly appreciated.
no.
kids at top business schools arent even getting offers in banking when the firms are actively recruiting them, you have even less of a chance than that
and im talking about a 1st year wharton mba student, a 1st year darden mba student, and a 1st year cornell mba student,..3 different schools, three similiar experiences.
so aside from the 90%+ users on this site i actually have perspective.
He passed Series 7 too. Therefore, he must be baller.
“I’m a CPA! I got money b***h!”
if you can do it, do it
experience trumps mba’s and aholes alike
I love these posts, keep em coming
@ builders
Thanks…you seem to have a perspective and you seem to match the opinion of majority that the IB field has not stabilised much in terms of job market.
@ mar350
Thank you for your support. I am also banking on my experience and thinking of giving a shot…at least I would have tried!
Any other suggestions, thoughts will be appreciated. Should I start floating my CV? How should I prepare?
Abdemanaf Wrote:
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>
> Thank you for your support. I am also banking on
> my experience and thinking of giving a shot…at
> least I would have tried!
>
> Any other suggestions, thoughts will be
> appreciated. Should I start floating my CV? How
> should I prepare?
I’m sorry what experience do you have is applicable to becoming an investment banker?
Go to a top 5 business school. That’s your only chance, even then its not even close to being guaranteed.
builders Wrote:
——————————————————-
> no.
>
> kids at top business schools arent even getting
> offers in banking when the firms are actively
> recruiting them, you have even less of a chance
> than that
>
> and im talking about a 1st year wharton mba
> student, a 1st year darden mba student, and a 1st
> year cornell mba student,..3 different schools,
> three similiar experiences.
>
> so aside from the 90%+ users on this site i
> actually have perspective.
UVA and Cornell are top business schools now?
justin88 Wrote:
——————————————————-
> builders Wrote:
> ————————————————–
> —–
> > no.
> >
> > kids at top business schools arent even getting
> > offers in banking when the firms are actively
> > recruiting them, you have even less of a chance
> > than that
> >
> > and im talking about a 1st year wharton mba
> > student, a 1st year darden mba student, and a
> 1st
> > year cornell mba student,..3 different schools,
> > three similiar experiences.
> >
> > so aside from the 90%+ users on this site i
> > actually have perspective.
>
> UVA and Cornell are top business schools now?
i would say they are.
"I talk the truth only.two month ago I pass the exam to study the econmic master" - qqqbee, Sept 1, 2010
Daren is around T12-15. Solid school. A few of my buddies go to law school at UVA and they say the MBA students crank out ridiculous hours compared to how much they’re studying.
Cornell is T20 but I’d say UVA is definitely a few steps ahead. Cornell is more known for its MMH degree than anything.
I thought Darden was a restaurant chain.
“I’m a CPA! I got money b***h!”
ohai Wrote:
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> I thought Darden was a restaurant chain.
you were thinking ‘Olive Garden’ - its the breadsticks
Hey, they also have Red Lobster. I know three random people who have eaten there and they had the same good experience. Therefore, I have more perspective than 90% of the people here in judging restaurant quality.
“I’m a CPA! I got money b***h!”
ohai Wrote:
——————————————————-
> Hey, they also have Red Lobster. I know three
> random people who have eaten there and they had
> the same good experience. Therefore, I have more
> perspective than 90% of the people here in judging
> restaurant quality.
Probably correct. Also, Red Lobster and Olive Garden are top restaurants.
Red Lobster > CFA Level II ?
“Soros was known as the only private citizen to have his own foreign policy”
ok there is a wharton kid in the mix there, and for this forums information the guy i know at darden got 6 of the SAME EXACT interviews at top iBanks (jmp, ms, barclays, gs, cs, jefferies) as the kid i know at Wharton
so yes, i guess you could say Darden is close to a top tier school. also, the darden kid i know is a JD too, and he got 1 iBanking offer out of 9 iBanking interviews.
truth.
Long Horn > Olive Garden > Red Lobster
Oh look..it’s this thread again…
builders Wrote:
——————————————————-
> ok there is a wharton kid in the mix there, and
> for this forums information the guy i know at
> darden got 6 of the SAME EXACT interviews at top
> iBanks (jmp, ms, barclays, gs, cs, jefferies) as
> the kid i know at Wharton
>
> so yes, i guess you could say Darden is close to a
> top tier school. also, the darden kid i know is a
> JD too, and he got 1 iBanking offer out of 9
> iBanking interviews.
>
> truth.
i didn’t realize 11% offer rate with a JD and an MBA was the new killing it.
thanks for your highly anecdotal truth.
@justin88
no, its not killing it at all. this thread was about the first poster making the switch to banking and i was just showing how unlikely it is for him to do so by simply passing Level I and sitting for Level II in june.
he basically doesnt even have a chance, as evidenced by the track records of my friends who are highly credentialed and at very good schools having limited to no success.
Anecdotal evidence is dangerous. There is a UVA law graduate at my firm that’s “only” making 75k. When I saw that I was like UVA must not be as good as I thought or law school bubble. But at the end of the day, it comes down to the person and experience.
Being Born Wealthy > Being Jewish or WASPY > Born Pretty > Top 5 MBA > CFA > Avg MBA > Born middle class > Born lower class > Born in crack house > Working in IT but looking to switch to buyside
Zesty Wrote:
——————————————————-
> Anecdotal evidence is dangerous. There is a UVA
> law graduate at my firm that’s “only” making 75k.
> When I saw that I was like UVA must not be as good
> as I thought or law school bubble. But at the end
> of the day, it comes down to the person and
> experience.
i used anectdocta evidence from three different candidates at three different schools having the same experience. either my friends at wharton, uva, and cornell are total losers, or there is something else going on in the biz right now
Anyone who is thinking on going to business from IT is out of their mind. There is enormous opportunities in IT, and good chances to get a fat VC funding. This opps wont be there forever so it is now or never
Builders is wack I just wanted to point that out.
Not really, it boils down to one’s perception…
IT Services provided by most of the outsourcing companies are into low end service…
also, personally, my interest lies into finance…m an accounting grad and did Post Grad Diploma in Financial Analysis. I was compelled to join IT in 2001 due to global market meltdown and the salary was peanut back then (an Equity Analyst was paid Rs. 10,000 per month thats about $ 240)
wake2000 Wrote:
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> Builders is wack I just wanted to point that out.
@wake
how many people do you know at a Top 5 schools like Wharton and a top 13 school like UVA and Top 18 school like Cornell who are currently in the interview process and getting multiple offers?
please, enlighten us.
builders Wrote:
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> so aside from the 90%+ users on this site i
> actually have perspective.
http://images.businessweek.com/slideshows/20101101/best-and-worst-mba-jo...
“This year [2010], recruiting started to bounce back, with all but three of the top 30 schools improving their job placement rates. Schools such as Emory University’s Goizueta Business School (Goizueta Full-Time MBA Profile) and the University of Texas at Austin’s McCombs School of Business (McCombs Full-Time MBA Profile), managed to boost their job placement rate by more than 10 percentage points over last year. Meanwhile, some schools like Dartmouth University’s Tuck School of Business (Tuck Full-Time MBA Profile) managed to get their offer rate almost back to prerecession levels, with 97 percent of the class reporting job offers within three months of graduation.
For most schools, though, it has been a hard slog. Job placement numbers at the majority are still not quite back to where they were before the financial crisis hit. On average, about 12 percent of graduates were still jobless at the three-month mark. The sluggish job market has also hurt starting salaries and signing bonuses, which are flat or down at most schools. ”
http://www.businessweek.com/bschools/content/nov2010/bs20101110_255552.htm
“As director of the Career Development Center at the University of Virginia’s Darden School of Business, Oakes had watched the Great Recession choke off his students’ job opportunities…By graduation in May, 77 percent of the class had job offers; three months later the figure reached 87 percent”
http://www.usnews.com/education/articles/2010/06/18/more-mba-graduates-w...
” Cornell University’s S.C. Johnson Graduate School of Management, for instance, assigns career advisers to each student, which helped 95 percent of the 2009 M.B.A. class get hired by year’s end. The school plans to do the same this year, but in a quicker time frame, thanks to the improving market.”
http://xingfu.us/mba-application-resources/mba-job-placement-rates-trend...
“This year, on average, about 12 percent of graduates at the top 30 schools, or one in eight, still hadn’t received even one job offer by the three-month mark. That’s an improvement from last year, when one in five students were jobless three months after graduation. Salaries are flat or down at 23 of the 30 schools, with starting pay averaging $97,049, inching up only $549 from 2009.”
A while ago, there was a guy on AF who said his friend’s mother was a retired HR executive from Goldman Sachs. Therefore, somehow by this association, he was an expert in finance recruitment. I thought I would just throw that out there.
“I’m a CPA! I got money b***h!”
comp_sci_kid Wrote:
——————————————————-
> Anyone who is thinking on going to business from
> IT is out of their mind. There is enormous
> opportunities in IT, and good chances to get a fat
> VC funding. This opps wont be there forever so it
> is now or never
+1, Hits the nail on head!
I graduated in ECE but took job in finance, after 1.5 years I’ve switched back in IT. There is nothing close to IT if you are young and you want to grow your net worth rapidly. Technology is still a bubble, but won’t be for much long. Entrepreneurs are flooding the market and scraping away every little opportunity that exists, slowly barriers to entry in all the subsets of technology are increasing, and in some cases they have gone insane, but there there are many sub fields in IT where barriers to entry are very low. And, I’m talking about R&D barrier.
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SOS T.T ~ I told is reality;not a funny !!
- QqqBee (on August 27, 2010)