I am in my late 20’s and have my BS in finance & currently work as a licenesed retail bank branch manager . I live in the San Francisco area and I am trying to switch gears and obtain a position as an analyst, junior PM or “relationship manager”. I am trying to decide what further education will help me get an interview for one of these positions. Should I start working towards my CFA or would I be better off pursuing my Masters in Finance, or even an MBA? Also what entry level salary should I expect in one of the above mentioned positions?
these are all different types of jobs. What do you know about each? Salary should be the last thing on your mind. I know RM’s that make 400+ but they have been in the field their whole career. I was a junior PM and enjoyed the worked but quit after 2 years. All depends on you.
Get a CSA job at an asset manager and go from there - if you want to become an RM. Prob best for you be on 3rd party side. Brokers will see you as one of them with your retail exp.
Thanks for the input. Goldenboy what education did you have when you got your junior PM position? I guess what I am trying to figure out is whether or not I need my masters or if I should just pass the CFA I and start putting my resume out there. Also Danteshek, could you help me out with the “CSA” acronym?
It all depends on what sector you want to get into: For example if you are looking to get into Investment Banking: Go to a top notch MBA School while studying for your CFA. Take your MBA seriously and get high grades, you will be recruited out of school by top firms with starting salary of around 70K-80K + bonuses (usually 1-3 times salary) as an associate. If you want to become a portfolio Manager: Try getting your foot through the door as an associate PM or junior analyst, even back office. Given your management experience you can always start in relationship management as well. Work on your CFA and move your way up. If you want to become a broker…don’t waste your time with MBA or CFA….just get in the door and work hard…. Just a few examples of many possible paths…you really need to narrow your path down… Cheers