This is an all familiar/boring story of an IT guy trying to come into the finance world - with a small difference:). Yet another hopelessly hopeful story
I have no experience in portfolio mgmt or equity research, but have been in the IT field developing front end customer facing applications for Retail Banking. Ive cleared CFA level 1 and have written level 2 this year.
What would you advice me to do - Should I take up FRM level 1 and then search for a job OR take up WallstreetPrep Financial modeling course. I have a family and would not be able to manage both together, so I unfortunately got to make a choice. And either way I would write Level 2 again or write Level 3 next year as well.
I know too little to make a choice and my priority is to first get a foothold after which probably I could make informed decisions. Thank you in advance for your advices/pointers.
Quite honestly I see a couple of different ways to move into the finance world.
Get an MBA
Get a CFA/ FRM and seek a finance roll within your company.
Work your network.
I think it is hard for someone with IT to move into a finance roll without the experience. Most mid-level positions want people that will need minimal training. For my current position, my boss told me they had PhD’s in finance applying (obviously they were over qualified). There is just too many finance people out there to pick non-finance candidates.
This is my honest opinion. I wish you luck with your career goals.
Do both WSP and FRM if you can. WSP is only 40 hours of lecture. FRM should be doable in <200 hrs and is partly a review of L2. I’m starting WSP this week, and plan on FRM starting mid-July. For a mid-career change, don’t expect either certificate to get a finance job, you will need a network connection to do that. The financial sector is still contracting.
Is there any point in taking these exams (FRM, CAIA) from a career perspective? It does not seem like most people have heard of the exams or care if you have them.
Technically, even if one of these exams was harder than the CFA, would it matter if nobody has heard of them? Not saying it is not good to take if you like to accumulate knowledge, but just thinking about it from a career perspective.