A CFA success story

Water Cooler Careers
#1

Anybody who ever spent 5 minutes on AF knows that the CFA designation is no magic bullet that will automatically land you one of those much coveted jobs in SS ER or at a hedge fund - mostly thanks to iteracom. Yet in some cases the CFA designation might just be the little push that tips the scale in your favor. As it did for me.

I guess I want to post my story as a counterweight to the many discouraging threads in here, as advice for anybody in a similar situation and of course to give thanks for the constructive feedback and help I have received on AF (that’s you Ohai, magic2000, bchad, CFAvsMBA, Drago, etc) .

Even though I would have liked to start working in finance right after graduation, having been to an average school with average grades and no internships at any of the big firms, I didn’t expect to have much chance breaking in. I was happy to get an IT/project mgmt. job at a Swiss bank ca. 2.5 years ago. About the same time I enrolled in the CFA program still without a clear agenda, mostly because I like finance and thought my degree didn’t cover all areas sufficiently. Somewhere between level 1 and 2 I realized that asset/portfolio mgmt. is what I really, really want to do. So, I spent the last two years working towards an internal transfer and just last week I received the good news. I will start my new job in portfolio mgmt. by the end of the year.

Certainly, a lot of luck and being in the right place at the right time played a big role but looking back I can identify 3 major success factors:

  1. Networking: I don’t mean kissing ass, or annoying people at industry events, that might work too, I don’t know. What worked for me was to get to know the team and the department where I wanted to transfer to, showing an interest in their work and to simply hang out with them for an after work beer. Having a good reputation throughout the firm helped in my case as well.

  2. CFA: As I said above, I believe my progress towards the designation got me a foot in the door. Maybe it was particularly helpful because I knew the guy I would be working for is also a charterholder. There was some additional bonding over my ongoing exam preparations.

  3. Interview: Even an excellent networker that crushed all three exams, still needs to convince the right people to hire him. I had to interview like everyone else and I am sure there were dozens of candidates with better CVs than mine. My advice here: solid preparation and no fap

Did the CFA program get me that job? Probably not but it was an important part of the puzzle. What I am trying to say is just this: with a background like mine, it might not be easy but it damn sure is possible

#2

Great story, congrats. Those 3 things helped me me break in as well, good advice.

#3

Thank you for sharing!

#4

Bravo Eskimo!

Do I dare ask how I helped? I may not be the brightest brotha, but I am the most optimistic and hard working one. Optimism+Hard Work = Lucky Breaks. The naysayers who say things cannot be done have simply constructed a self fulfilling prophecy.

#5

Congratulations on your new job.

#6

I can admit that this place can be very discouraging sometimes.

But in my experience it’s just typical of online forums in general: obsessive personalities who love to talk about about their achievements and their credentials. It certainly doesn’t correspond to reality.

#7

Yay! Great to hear some good news now and then. Congratulations!

#8

That is exactly what I meant. Sometimes all you need is a brotha who just won’t give up. On anything. Always encouraging, never defeatist. Good stuff

#9

Congrats!!!

From a guy who can’t wait to write his success story :wink:

#10

Thanks for sharing bro! Hope you kick a** at your new job :smiley:

#11

Hey I’m so happy for you well done sir :)) this is good stuff we need more of this to go around

#12

Congrats man! IT to PM is a big jump!

#13

An important takeaway of this story is that an internal transfer into a desirable position is generally easier than trying to get hired into that same position as an outsider.

#14

well done bro. Really like hearing this stuff.

#15

These are the post I like to see! I take the negative doom & gloom post with a grain of salt. I don’t let anyone define me on what I can and cannot do. Hard work and putting yourself out there gets the job done… period. I just got awarded the charter last week and started the new job search last week as well.

Congrats man!

#16

Well, it was easier for me anyway but it also depends on the person. For a colleague of mine the opposite might be true. Great CV, top grades but not very sociable/likeable. Were the two of us in a typical, anonymous application process, I wouldn’t stand a snowball’s chance in hell. But if he had applied for the same position internally as well, I doubt he would have gotten the job.

Guess you have to play your strenghts.

PS: thanks to eveyone for the kind words, really appreciate it

#17

Congratulations my eskimo friend.

#18

Congrats, that makes it all seem worth it. A very motivating and inspiring story.