thanks for the insite ancientmtk, I find IT really interesting, but I have heard from other people that it’s a thankless job where your skills are seen as redundant when version 2.0 of a software system comes out.
I just talked to a money manager about his experience and he overall painted a really grimsome picture. Basically, he said that in his experience the CFA didn’t help him land a job probably until level3, and even with that it was still an uphill battle. Especially in the SoCal area, opportunities are slimmer because there aren’t just that many IM firms or ibanks. Basically all the IM funds in Newport Beach won’t be looking for new hires because they can handle the jobs themselves.
I am quite lost and overwhelmed by this; I know this before i talked to him, but he just clarified the reality even harsher. And engi background means nil in this industry.
> And engi background
> means nil in this industry.
Really depends on who you talk to. If in research, you cover securities that are relevant to your engineering background, then having the technical knowledge can certainly come in handy. Plus, its a credibility factor, putting a P.Eng/CFA infront of a client, or on the research report gives them (the audience) more reassurance, since they understand both the technical challenges in their industry (understand, not just listen to consultants and others, but can make their own educated hypothesis about it), in addition to having the financial know how to get things done.
But the point about GPA’s is true; recruiters dont care if you took nuclear engineering, or a major in drama, the GPA number is all they look at.
I am Software Engineering PhD Candidate hopping to wrap up my studies this year. While I dont necessarily have age on my side (early 30’s), I plan on switching over to Finance as a Quant Analyst down the road. My background includes an MBA and MS in Computer Science from an excellent school (note: emphasis is on excellent not the schools ranking) and have about 10 yrs of professional experience, 6 of which has been with a Top Tier Strategy Consulting firm. My questions are as follows:
1) Would the CFA designation help improve one’s chances of landing a Job as a Quant analyst ?
2) What is the preffered study guide (Swesher or Stalla)
Thanks for responses in advance.
Note: One of the driving factors of my decision to move into Finance is because of my intent to relocate overseas to a country which is not “technologically advanced, hence my desire to apply my skillset towards the finance field.
1) Instead of a CFA for Quant, look into getting an MSF or MFE, and one that focuses more heavily on the Quant side.
2) Both, however it seems that Schweser may be the more popular choice on these forums. People have had successes using both, they are just tools you can use and will not negate the fact that you will have to put in many hours of studying to fully understand the material.
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No thanks, I don't want to increase my probability of passing.