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Job market in Canada for CFA Charterholders

Canuck707 wrote:

No. What I’m saying is that it can be done.

You can learn to build your network and you can learn to fit into the culture. It may take time, but it definitely can be done. I didn’t have a network of any kind in Toronto, but I made it to the FO. As did at least 4 other Indians in my cohort. Funnily enough all 4 of us Indians (from India) who made it to the FO Finance (Not including corporate finance where it’s a lot easier to break in) either had a CA or a CFA, and yes, it did give us a leg up on the competition. 

If OP chooses to do her MBA from Rotman/Ivey, I believe that she can definitely transition to corporate finance/corporate strategy.

Cooler wrote:

If a majority of the population make a conclusion about something then it’s not a generalization.

Most of the people dream about moving to the west one day

Now you’re making an assumption about the majority of the population agreeing with your views.

Cooler wrote:

A small percentage of Indians do not represent the overall picture of Indian corporate. 

Exactly.

Thanks for the insights! Great to hear some success stories from fellow South Asians! After reading all these comments i’m more inclined to pursue an MBA as long as the investment is justifiable. Coming from a developing country investing 100k+ is a real make or break decision for me. 

I do have a few questions i would like to ask you about your MBA experience if you don’t mind. 

Given the 100k+ you probably would’ve folked out for a Rotman MBA do you think the ROI is justifiable? And is there a major difference in compensation between FO and Corp.fin/strategy roles? A lot of people have told me that investing 100k+ is not justifiable unless if you land a FO banking position. What’s your view on this?

And what is your opinion about McGill or even Sauder? In terms of recruitment stats I think they are more or less equal (This should be discounted as Mcgill and Sauder have smaller class sizes compared to Ivey or Rotman) but you might be able to give a better opinion as an insider?

I know its a whole load of questions and my apologies for that! Thanks so much for your time in advance!!

Cooler wrote:

Canuck707 wrote:

No. What I’m saying is that it can be done.

You can learn to build your network and you can learn to fit into the culture. It may take time, but it definitely can be done. I didn’t have a network of any kind in Toronto, but I made it to the FO. As did at least 4 other Indians in my cohort. Funnily enough all 4 of us Indians (from India) who made it to the FO Finance (Not including corporate finance where it’s a lot easier to break in) either had a CA or a CFA, and yes, it did give us a leg up on the competition. 

If OP chooses to do her MBA from Rotman/Ivey, I believe that she can definitely transition to corporate finance/corporate strategy.

Cooler wrote:

If a majority of the population make a conclusion about something then it’s not a generalization.

Most of the people dream about moving to the west one day

Now you’re making an assumption about the majority of the population agreeing with your views.

Cooler wrote:

A small percentage of Indians do not represent the overall picture of Indian corporate. 

Exactly.

Yes, she can do it. Good luck OP. 

Thanks Cooler! Can i know what your story is like? Are you currently working in Canada and if so how did you manage to land a job? I’m assuming you did an MBA?

I’m a guy btw!

hemaka wrote:

I do have a few questions i would like to ask you about your MBA experience if you don’t mind. 

Given the 100k+ you probably would’ve folked out for a Rotman MBA do you think the ROI is justifiable?

For me, unequivocally, yes. 

hemaka wrote:

And is there a major difference in compensation between FO and Corp.fin/strategy roles? A lot of people have told me that investing 100k+ is not justifiable unless if you land a FO banking position. What’s your view on this?

Yes, there is a major difference in compensation between FO and Corp.fin/strategy roles

It depends on what your alternatives are. If you’re comparing a T-15 US MBA  I’d say your ROI would obviously be higher there just because Canadian salaries tend to be lower. Futhermore, it’s a lot harder breaking into FO finance in Canada v/s the states just because of the size of the market there.

Not everyone who wanted FO at Rotman made it to the FO. Many had to settle for Middle/Back office roles where you probably make ~CAD $85-95K all in.

hemaka wrote:

And what is your opinion about McGill or even Sauder? In terms of recruitment stats I think they are more or less equal (This should be discounted as Mcgill and Sauder have smaller class sizes compared to Ivey or Rotman) but you might be able to give a better opinion as an insider?

I am biased, but I would personally only recommend Ivey and Rotman to International students. I am currently on the recruiting team at my bank and as Cooler mentioned, the resumes from these two schools do go in a different pile.  

McGill and Sauder are good schools too, but they can’t really compete with access that Rotman has to Bay Street. If you’re networking from Rotman, Bay street is a 10 minute subway ride away. Can’t say the same for other schools.