Career/Job Prospecting Help/Advice

Hey Guys I am looking to get into either IB, Equity Research, or portfolio management. Here is my background: • CFA L2, CFP, BBA major in finance and minor in accounting. Many industry courses (CSC, CPH, LLQP, etc…) • Experience o 5 years of accounting o 1.5 years as an IA Assistant o 1.5 years as an Insurance Advisor o 2 years as a Financial Advisor with Major Bank o Currently a Contractor Business Analyst I am currently making good income but would like to get into IB or Equity Research and move my way up. Where would you suggest I start looking? My research has shown me that IB is nearly impossible to get into without a MBA or connection, and perhaps I would be better off pursuing a position in equity research. But even that it seems people who are applying for such positions already hold their CFA Charter. On the other hand when looking into portfolio management, I am not qualified enough to be a full associate but too overqualified for assistant portfolio manager. So I am stuck in the middle wondering how to go about pursuing a career in the mentioned three areas. What do you guys suggest? Where should I start looking? I am currently living in Vancouver, Canada, but willing to move to a major financial centre (I have no problem working in the US as I have dual citizenship). Any advice or help would be greatly appreciated it. Thanks

Seeing as you’re at a “Major Bank”, why don’t you call HR and ask how you go about getting into IB at your current firm?

If you have a dual citizenship I recommend going on eFinancial Careers and other similar sites and applying for jobs in the U.S. There seem to be many more opportunities south of the border in IB.

Turkish, I am not with a major bank anymore, I left about a year ago and been doing contract work as a business analyst for the brokerage industry.

Oh you’re overqualified for assistant PM?

I like HSA’s question, how are you over-qualified for Assistant PM?

That is what I have been told in 3 interviews I have gone for Assistant PM Positions. I personally don’t think so…but again they could have just been giving me BS excuses for not hiring me.

no, no, you just didn’t understand what they were telling you. nobody says what they mean in this business. translation: “look, we know you can do this boring ass job that probably consists of portfolio rebalancing, etc., but we also know that you will get bored really quickly. since we aren’t looking to hire anyone above the level of this job / promote internally any time soon, that would put both of us in an awkward position. you might leave after just one year to go do something better, and then we would have to go to considerable time and expense to hire someone else (which we don’t want to do, by the way). so… no thanks, dude.” that’s one possible explanation, anyway. “overqualified” is a dubious term. think about it from the company’s point of view. they want to hire the best people they can get for the lowest possible cost. clearly, a PhD is not going to be running lunches for a trading desk, but if you are marginally overqualified, so much the better from the perspective of the people doing the hiring. (unless you are overqualified to the point that they think you might leave.)

asdffdsa, I agree with you. Actually one guy was very honest and said almost the same thing to me as you just mentioned. He said “…we are looking for some one who will stay in this role for 3 years or longer and we don’t see you staying in such administrative role for that long…” he did ask me to contact him if I see any other positions opening in their company that might be better suited for me, but so far nothing. I appreciated his honesty and I am considering giving him a call to maybe ask his input on how to go about pursuing getting in the industry at a job level that he thinks would be fit for me. Do you think that would be unprofessional? He is a partner at a medium size firm with lots of credibility in the community and did mention I can call him anytime…

Get your butt to NY or smth. You have a dual citizenship, use it to the full extent. Unless you’re a ski bum or a pothead, what else is in Vancouver. There is some venture capital activity going, but that’s about it.

sure, give him a call. it can’t hurt. he already said he doesn’t think you will fit in, so it won’t be insulting. i’m curious to know which firm / community you are referring if you don’t mind posting. “community” implies outside of NYC, and i am always trying to get to know regional firms better since a lot of the best stock pickers work at those kinds of firms. i am much more interested in picking stocks than updating earnings models and rehashing press releases, which seems to be what a lot of the wirehouse product is.

Vancouver Investment community is very small and so I can not mention any names, but it’s a small size Vanocuver based firm which is closely held by its partners. I think I might have said too much already. LOL