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Your thoughts please?

I’m pursuing CFA Level 2 (got a ‘did not pass’ this morning, I will retake next year). I have 7 years experience in Compliance program management and another 5 years in IT and financial services prior to that. I’m 36, been on mat leave for 3 years now. Cant go back to previous employer because we’ve moved countries for husband’s job in Canada. I started with the CFA program while on mat leave because I am interested in the subject and keen on moving into investment related jobs. I’m trying to find an ‘in’ into the industry but its hard finding takers without prior experience (not surprised, I must add) even in basic modeling and valuations. I’m thinking of going the personal blog route where I chose an industry and a few companies to stock pitch. Do you have better ideas on how to gain exposure from a potential employer? Also, I do feel stuck on getting started with the blog. Any forums where I can collaborate with other people to do some equity research? I’m looking to go through the process with someone atleast once so I can make sense of the mental fog I’m navigating through.

P.S: I have in the past received comments on how CFA is not the right choice at this age and stage in my life. I respectfully disagree with those thoughts, so pls keep them out of your responses. Thank you in advance.

There is 0% chance you will work as a research analyst.

I’m not trying to be rude, I know you don’t want to hear it, but there is no reasonably believable scenario or pathway in my mind I can create that ends with you in a research role.  I’m trying to save you wasted time chasing an impossible role in a declining and increasingly crappy field.

#FreeCVM #FreeTurd #2007-2017

Thank you Black Swan. Is there any area/point you can suggest to make a start towards working in a role that will eventually involve a combination of finance and economics? I’ve been told Treasury is a good place to look at but I don’t find people’s interest in my resume for these roles due to my previous tilt towards processes.

Possibly like a valuation or treasury role like you mentioned or maybe investor relations, but it’s just such a difficult transition. 

The core problem is that the whole of trading and research is in decline (Deutsche bank -18,000 employees, Citi - 600 employees, HSBC -4000 employees all in the last two months) and those are just what comes to mind.  The field is generally shrinking which makes it not so great to be in, but is also creating few job openings with a lot of experienced candidates meaning most hiring firms are looking at pedigree, etc and not accepting non-traditional candidates.  I don’t agree with it, but its sort of the new reality.

In theory, there more business / corporate / commercial banking and underwriting / credit analyst roles might be a fit worth looking into.

#FreeCVM #FreeTurd #2007-2017

I would like to add that that doesn’t mean your efforts a waste since I realize you’re coming off of L2.  For a lot of people this is a highly educational process and may impact your understanding of this field and investing and frankly we all learn about the world so we can pass those things on to our kids.  Industry is just very tough right now and likely for the known future, there’s a lot of people who are being forced out having sunk a lot more into this career path.

#FreeCVM #FreeTurd #2007-2017

Thank you for your notes. You’re right, its about learning something new every single day. It will count. Thanks again.

Look for sales/asset management associate type of role for banks, asset management, brokerage firm.  Make sure it is front to mid office role, get your foot in, complete your CFA and begin to ask for more responsbilities.