Typo? Or just shopping for a retard?
I dont know what they are looking for. But I certainly dont qualify for it. lol…
I’d think they definitely could have worded that better, but probably meant you need not have an MBA or CFA to apply.
I have met that recruiter–Alex Gannes. He pitched me a bear sterns equity research role last july. Thankfully I got rejected in later rounds.
Candidate will assist Sr. Analyst with industry research, financial modeling, and client relationship management. Translation: Answer the phone, get coffee, write(…type) reports. MBA or CFA are not preferred. Translation: Shouldn’t come in with high expectations…of doing anything different than above.
…or any pay increases above inflation
Big Babbu, How did you get in touch with Alex Gannes ? He seems to have a lot of job postings on efinancialcareers.com. Did you call him up and ask to meet him or did he get back to you after you applied for one of his job postings ? Thanks.
I’ve seen a lot of these Associate research positions and none for regular analyst positions in my company. Are analyst research positions usually taken? These Associate positions are always looking for 2-5 years experience which I don’t have.
Here is another funny response from a recruiter. He works for one of the largest and well-known recruiting firms. There was a posting for an investment associate. Requirements: good understanding of DCF, IRR, CAPM and EBITDA. I sent him my resume with the Level 3 candidacy and my graduate degree. His response was that the employer is looking for somebody who has good understanding of DCF, IRR, CAPM and EBITDA and CFA program is not adequate to understand those concepts. Very interesting recruiter and employer.
tom18606 Wrote: ------------------------------------------------------- > Here is another funny response from a recruiter. > He works for one of the largest and well-known > recruiting firms. There was a posting for an > investment associate. > > Requirements: good understanding of DCF, IRR, CAPM > and EBITDA. I sent him my resume with the Level 3 > candidacy and my graduate degree. His response was > that the employer is looking for somebody who has > good understanding of DCF, IRR, CAPM and EBITDA > and CFA program is not adequate to understand > those concepts. Very interesting recruiter and > employer. This kind of sh*t infuriates me. Sometimes I want to choke these douchebags that have no idea what the CFA program entails.
Maybe they are looking for real world experience?
CFAdummy Wrote: ------------------------------------------------------- > Maybe they are looking for real world experience? With what, DCF, IRR, and EBITDA? This is like 101 crap, how much “real world” experience can you need to know these concepts inside and out? CAPM, possibly dependent upon the capacity of the analysis, but even that is a fairly academic topic, and in most circles considered far removed from “real world” current practice. Just the description sounds out of touch with reality and entry level at best. It would be one thing if they wanted someone with actual experience building complex models forecasting cash flows out of complex instruments, someone who could accurately and consistently determine the underlying assumptions while identifying likely variables and sources of material impact. That would take some hands on experience to do, but I’m not picking up an emphasis on that here. This sounds like a typically plug and play position with some minor model tweaks required from time to time that would most likely utilize assumptions provided by the macroeconomic research teams.
I have work exp. in corporate finance and it was shown in the resume. But no DCF, IRR, EBITDA, CAPM key words in the resume. Black Swan, you will like this one. I met a PE firm director when I was travelling. It was just before the L2 exam and I was reading the FSA book. He asked me about what I was reading. He never heard about CFA program and asked me if it is an online accounting course from the University of Pheonix.
Similar experience once when I was interviewing in credit research with a COO of a small firm who had previously been an MD at Morgan Stanley. I alluded to my CFA candidacy work to highlight some point and the lack of response was so complete I think I grinned. I mean, there’s poker face, then their’s black hole of emotion, her’s was the latter.