I’ve recently finished my MBA, and have experience in other sectors. (My B.Sc is in electrical engineering) With the current job market the way it is, it’s been nearly impossible getting into the finance sector. 1. Does a CFA help, at least theoretically, in getting into Management Consulting or Private Equity? 2. Is a partial CFA (e.g. passing Level I or Levels I and II) worth anything in the market place? Or do employers generally only take the CFA seriously when it’s completely finished? Thank you
- Your MBA should help more than a CFA 2. Passing is worth something.
- Management Consulting. . . I would have to say no. . . PE. . . perhaps 2. In my exeprience it has been somewhat helpful to have completed some of the exams
What was your background prior to the MBA? Engineering? My (brief) experience with PE is that you typically need to go through some sort of investment banking training program in order for a PE firm to be interested in you. I’m not sure if just having an MBA is sufficient.
I thought your name was “Mother Tried” at first. That’s pretty good.
do CFA now that the MBA material is fresh in your head
Perhaps a better question would be this: With the hordes of people that have been recently laid-off, is there still a point embarking on a CFA now? I had planned on my MBA helping me to change sectors (into finance), and it’s from a pretty decent school, but it hasn’t been happening for obvious reasons. So realistically, would a MBA with a CFA L1 get hired at all in this market? or the forseeable market in 6 months? I don’t have any more time to waste
I think with this many people laid off, its expected that you have started or have your CFA, cause everyone else has
I think it’s a question of prioritizing your time. Passing any levels of the CFA will only help you, but the benefit would likely be very marginal at this point in time. I’d focus all your time on digging for job leads through networking and research, and spending your time focusing on getting and then acing the interview. If you have time after this, I would spend it on the CFA. Level 1 especially is good background information for jobs that require valuation skills, so having this fresh in your head will be beneficial for interviewing.
momothetired Wrote: ------------------------------------------------------- > I had planned on my MBA helping me to change > sectors (into finance), and it’s from a pretty > decent school, but it hasn’t been happening for > obvious reasons. > > So realistically, would a MBA with a CFA L1 get > hired at all in this market? or the forseeable > market in 6 months? If you have an MBA from a decent school, I think will help very marginally.
Unless you have prior finance experience, your pretty much screwed, particularly on the PE front. Too many guys with multiple years of experience out there. Ask yourself, why would a hiring manager choose you over them. I would look at some under the radar boutiques PE firms, see if they need someone. You’ll have to schmooze your way in by contacting somebody in the FO directly with a compelling spiel about why they should give you a chance. Hopefully not too many people are already banging down their door. Management consulting will probably be slightly less of an uphill battle. However, getting into to Bain is still probably a long shot with so many ex bankers and analysts vying for those openings. Still, if you can get in touch with a hiring manger and layout a convincing spiel, you just might get lucky. Either way, your going to have the pound the pavement pal, trying to rely on the ole look at my credentials routine ain’t gonna work unless you really got the goods i.e. multiple years of FO experience, top top MBA, CFA, phat rolodex of contacts, II-All Star etc. Those are the only types getting snapped up on GP these days.
momothetired Wrote: ------------------------------------------------------- > Perhaps a better question would be this: > > With the hordes of people that have been recently > laid-off, is there still a point embarking on a > CFA now? > > I had planned on my MBA helping me to change > sectors (into finance), and it’s from a pretty > decent school, but it hasn’t been happening for > obvious reasons. > > So realistically, would a MBA with a CFA L1 get > hired at all in this market? or the forseeable > market in 6 months? > > I don’t have any more time to waste not to be rude, but why are you asking such simple question which a person with an undergrad degree can simply answer. does it help. ofcourse it does. having something rather than not obviously helps. hordes of people getting laid off… so doesnt’ that mean it’s more important to have the cfa and stand out… also. the market isn’t going ot be bad forever… it goes in cycles as you have learned from your expensive ass education which… so when it does go back up… say in a year or 2… then the cfa would be even more important to have for the promotions … and it will take you that long to do it anyways… anyways… you sound like a guy that just got into 3rd year university and asking these questions. defintely not someone i would expect with a “decent” mba degree.
Trying to move into finance into this market is going to be next to impossible unless you are very fortunate. Most of the people I work with at one of the more stable BB’s are worried about keeping their jobs and what they will do it they lose theirs. There are a lot of people with a lot of experience and education who can be had very cheaply right now.