I am Mohit and I’ve a tough situation. I am working as a Security guard at night so that I can study for CFA L1… Although I got an offer from a Bank in Canada for a position that demands lots of hours. ( call centre) …I thought of taking the job then I am left with no energy to come home and study… though the was good for now( 2800 per month)…but I cant make a career working at a call centre…
A little bit about my background which I Show on my resume
Bachelors in commerce ( university of delhi)
Bachelors in Business Admin ( Distance Education)
International Busines MGMT ( Post grad Diploma) …which I think is useless…did it from a community college in Toronto
Canadian Securities Course ( license to sell securites and first phase of becoming canadian investment manager)
Here I am thinking of clearing CFA asap and work in an investment Institution (not retail)…Is it worth while to get the CFA designation then get all the experience or work and get call centre experience or strictly get CFA asap and open more boundaries…I took the Security guard Job so that I could study more…
Ok given that you wrote a decently elaborate post, I’ve ruled out troll. Is the call center remotely related to investments? will you learn anything? security guard to finance is a very tough transition. There’s almost no way to relate the two.
That’s a pretty inspiring story, though. It shows work and dedication. I don’t know how, but one should look for some forum where you can demonstrate how hard you are willing to work to get where you want. Quite honestly, with your background, I think sales is the best way to get a foot in the door. Everyone needs salesmen, and you sound like you are willing to work hard at almost anything that will move you in a better direction, so you sound like you’d be willing to bite that bullet and go the sales route. You’d likely be cold calling trying to get people to buy things that a broker-dealer has in inventory. It’s still a tough haul from there, but given that your past is so far away from the industry, I think this is what you should target for your next step. CFA can help too, but it won’t be enough on its own, and it’s going to take several years to pass those exams anyway.
Its hard to know that when you’re not in the game…but you’re 100% correct. only thing i would say is, don’t limit yourself (i.e. no retail). chances are, you won’t have any choice in the near future as to where you will work. you will have to scratch by with whatever you can until you build up some experience. If you say no retail, good chance you will beg to get into retail soon enough. No way with your experience will you get more than call centre. You’re essentially competing with undergrads right now where unemployment is high. Given you’re a foreigner and assuming you’re energetic, this phase of getting low end jobs may take anywhere between 2-5 years or forever.
I started out in a call center. It’s not glamorous or enjoyable in the least, but it gives you a chance to see if this industry is something you will actually like before you get your heart set on it. Plus it’s a good way to learn the basics. Transitioning out of it to a decision-making role is a challenge but it can be done. As for the time commitment for CFA, there is always time for study if you make it a priority. I passed level 3 with 4 kids - my youngest had just turned 2 weeks old at the time.
i too started at a call centre (not willingly) with dreams of investment banking. boy am I happy my dream never materialized. its definitely possible but very difficult.
Well currrently I am not in Toronto… and I do have 2 years sales experience and 1 year Audit experience…But I dont have Canadian experience… If it takes 2 or 3 years to get a decent job…I might as well not waste time and start working on my charter… @Frankarabia: Is the there too much competition in Toronto??.. I was in toronto…now I am in a new province which is developing currently…(Saskatchewan)…
I believe Toronto is the CFA capital of the world. Lots of competition. Don’t think “if it takes 2 or 3 years” to get a decent job. You might spend 5 years or more or worst, never get in. I know guys that are still at the call centre with their CFAs thinking they can get to wholesale or investment management. Not to be too gloomy, but being a foreigner hurts your chances big time. If you can’t speak fluent English and not part of the Canadian culture, good chance you won’t make it those “decent” jobs. Just my take.
I dont Understand why it takes several years to pass CFA exams… I intend to pass level 1 on june and the other levels serially once i graduate from my college. I am reading CFA I books and it seems that that its not that bad if you focus and give some time to it and i know few students who have passed all three levels in a year. The only problem is getting experience.
you are so right…I know a guy who passed all three levels in his graduation…(3 years) …the only thing he lacks is experience…he is currently of my age 20 …and working with some bank as junior analyst
Mohit, There is a lot of truth to what Frank is saying, what you are aiming to achieve is almost impossible especially when the balk of your education has been done in India and Canadian employers don’t regard foreign crenditials very highly. What is the nature of the call centre job? Is it at a discount brokerage or even in a financial instituition? If so I would take it. With your background and the fact that you speak hindi as well as english, you may be able to get a sales job on the retail side. With some experience there, your work ethic and the CFA behind you, you can have some very promising long term career. growth. A lot of people look down upon retail banking, but in Canada at least it seems to be a pretty good place to start. Especially considering the fact that you are pretty much completely out of the running for the more intense finance jobs.