Very well said Alladin … he is one of those privileged who checks 3 of the 4 boxes and still counts himself a failure (atleast thats the impression i am getting). Jee he’s envy of so many like me.
Friend all you need is time sooner or later you will be there. Lets hope i get there too someday. As it stands, i am trying to contact a old friend of mine who works in the treasury department of the biggest bank of our country. I’m buying him a lunch today and will tell him over the lunch that i need a job
bpdulog - didn’t knew you were w/o a job. Your resume looks sharp and promising. This is probabaly the last month before the job market dies down for the year and re-opens Jan 15th.
Frank, it’s really a grey issue I guess… soon enough I’ll simply need a ‘job’ and not a ‘career’. I have to think about what the first line of HR is thinking, because they want the best ‘fit’, not the best credentials. I dumb things down accordingly. It sucks.
But, you’re right because like BP, I went down this path in 2009, and it was the wrong thing to do. Now I’m back to square one (laid off a few weeks ago), partially because of this previously taking a lower role out of desperation (had more experience and education than those I reported too)
I feel you BP. I’m in a nightmare again and I can’t wake up. It’s a claustrophobic feeling, juxtaposed on a feeling like you’ve been dropped in the middle of a desert.
What you are saying may be true but you also have to take in to account how developed the financial markets are of the country, an individual is looking for a job. Like in my country, we have only 154 charterholders and just 1 is sitting jobless according to the most recent survey of CFAI. Compare this to the around 6000 charterholders in US and in Hongkong. We also have only a handful of Ph.Ds (if any at all. Most Ph.Ds choose to teach in universities than work in market) here but a super abundance of Chartered Accountants.
what are your salary requirements? i think i have an entry level position on a buyside high net worth fixed income desk coming open coming open soon. pay might be a step back, but experience and exposure have the potential to be more what you are looking for
No test or degree or qualification is going to allow you to skip the entry level. Experience weighs the most for any non-entry level job.
The charter certainly helps your qualifications for a job especially if you are a career changer. But don’t underestimate the usefulness of the charter even after you gained experience. For research analyst positions, particularly the buyside, many firms want their staff to have the charter for the optics (marketing materials) alone. Many understand that the combination of work experience and the charter makes for a powerful candidate for the job. Someone with years of experience may still have many holes in their grasp of accounting and finance. Many analysts are able to skate by and after a few years, they still lack basic skills. The opposite is true as well. Someone with the charter but no experience will certainly have many gaps in knowledge in research and analysis. I have 12 years of experience on Wall St. and the buyside in equities and fixed income, as well as derivatives at hedge funds. I only started the CFA program in 2011 because it has become an increasingly sought-after qualification for jobs since I’ve been in the business. Many top firms make it a requirement (or, at least, a very strong preference).
the stuff learned from the CFA is no more experience than say going to college…ppl have a misconception that just casue soemthing takes a lot of effort means its useful or powerful…
I would love to see this guy take a mock and get walk in the parkish results (like 95%). Or you could just ask him what he thinks about weird CFA minutia just to check it - tiny behavioral and ethics details could be fun.
There are many PhDs who overspecialize and just suck on some not-so-advanced subjects. Of course there are also many charterholders who forget whatever they knew that isn’t related to their current job though. And there are many random and sometimes even kinda useless long lists distributed among the curriculum - hardly anybody can apply them by heart, asides from whoever just studied it or uses it for work.
Either way, I think “walk in the park” comments are pretty ridiculous, and usually come from people who have no idea how the exam is like. Once I read some random blogger/poster claim that candidates from top schools were the only smart ones and probably have a 99% pass rate or so - unsurprisingly this guy never took any CFA exam.
