Hi guys, I am in a very difficult and awkward situation. I graduated several months ago (have several months of internships) and this monday (7.01.08) I started working for a small investment intermediary as a risk & compliance manager. The position itself is new to the company so currently I am helping the firm to become compliant with several financial regulations. Future responsibilities include managing the risk profile of the firm’s portfolio, calculating VaR, reporting in front of the financial services supervisor etc. However, I received another job offer to work as an M&A analyst for a consulting firm that has significant position in the local M&A market. I would like to hear your perspectives on the issue, and possibly advise me on which job has a better chance of being recognized as an appropriate work experience by the CFAI as I am in pursuit of the CFA charter (currently level I candidate). I would also want to hear what is the typical career path for an M&A analyst (which in this case is more of a starting/junior position). I know it is up to me to decide but others’ opinions can be quite valuable as well. Besides, even if I decide to join as an m&a, I don’t know how I will get the courage to leave my current job as my colleagues are very supportive and rely on me to assist them on compliance issues. Any feedback will be greatly appreciated!
Risk & Compliance? If you can ditch the Compliance part; I’d go for the Risk part of the job. You don’t want to be doing compliance, trust me, it’s as boring as hell. Risk is my biggest hobby. If Compliance is an integral part of your job, go for M&A. Note: I love my job in risk management so take it for what it’s worth.
One piece of advice I will give you is to not turn down a better position due to lack of courage. In the end you have to do what is best for you and most people understand that, but some will give you a hard time. Just try not to burn bridges, tell them the reason your leaving and leave it at that. As far as the job, I think you need to take one step back and look at why you are at either position. You mention that you are concerned about work experience that counts towards the charter. I think you need to bring that up one level and focus more on what experience will be more helpful to your longer term career ambitions. The Charter is a means to an end and not necessarily a career ambition. It is just a credential. my 3 cents
I echo acumen. Dont take a job just b/c it counts towards CFA work experience. Take a job that is most closely related to your long term goals. CFA is a tool to help you achieve your long term goals…it shouldnt be the goal necesarrily. If I knew that I could get my dream job w/o the CFA and that I could be great at it…I wouldnt be in this program. However, I feel very strongly that having the three letters will help me in quest for the ultimate career. my $0.02
with a good job (and the right job), you may not even need the CFA charter. i agree with the others, go with the best one that positions you for where you want to be in your career down the line; if you don’t know what that is, go for the one with the best and most relevant exit opps. people care much more about good, relevant work experience
I echo what the above 3 mentioned. You definitely don’t “need” the CFA, it is just a tool to help you get the job/career you want. However, if you’re set on getting it, remember that you can spin most finance related jobs to qualify for the work experience portion of the charter. A job in either risk management or M&A consulting should be no problem.
Yes, you’re right about the CFA charter. The thing is, I love risk but I didn’t even realize that compliance can be so boring. My first 5 days at work seemed like 5 weeks. They told me that after the new RM framework is implemented I’m gonna be more focused on risk but many months can pass before this gets done. And yet, compliance remains.
2x2equals4 Wrote: ------------------------------------------------------- > Yes, you’re right about the CFA charter. The thing > is, I love risk but I didn’t even realize that > compliance can be so boring. My first 5 days at > work seemed like 5 weeks. They told me that after > the new RM framework is implemented I’m gonna be > more focused on risk but many months can pass > before this gets done. And yet, compliance > remains. sounds like something that’ll only get worse going forward. boredom in the workplace isn’t something that comes and goes; rather, it is something that tends to linger if not remedied by better, more ambitious career pursuits
I wonder if you can delegate some of the compliance aspects of your job that you don’t enjoy.
this is a no brainer. take the m&a job
M&A. Since you just started working for your new firm you can get out now very easily. You would feel much more guilt if 6 months from now you were involved in a huge project and decided to bail. Not that that should be a huge factor anyways. Forget what they say about the job changing from less compliance to more risk. If they say months is what they really mean is years. Chances are you will just be doing both and working more. If you are great at compliance then why would they ever have a reason to stop asking you to perform compliance duties. You may be able to move up quickly in the company as it grows but if you don’t like compliance then forget it. Also, and I could be off on this, but I believe the M&A route has more more income potential. Best of luck.
If you’re bored now it’ll only get worse. I’d get out if you have a “better” opportunity.
go for the M&A job! definitely sounds a lot more interesting than compliance (that sounds…bleah to me). I think M&a offers better prospects and exposure…
I think I’m gonna go for the M&A. Definately, compliance and dealing with articles, laws etc is absolutely boring at least for me. Thanx a lot guys. Please do not consider the thread closed. Other perspectives on this issues are highly welcomed!
i would say M&A too. no doubt. but my question is how could get 2 jobs offer in this kind of economy.
It depends on where you are. In an emerging economy, like the one where I work in, there is a lack of qualified workers in almost any field right now. It is not easy to get a good job but it is a lot easier than in, for example, the US, especially with the ongoing crisis.
Compliance is a hopeless area to work in anyways so if they can’t split risk and compliance: get out.
bearing in mind that your “M&A role” will be in a consulting capacity rather than deal execution, i still think it is a better gig than the compliance role which sounds like somewhat of a dead-end job. of course, you’ve already made up your mind so i guess this case is closed.