^ true. But experience doing what ? Did you read the job description - he’ll be support staff. Also once you’ve got the CFA headache behind you, then you’re done. Huge weight off the shoulders. Dunno, maybe it’s just me, but that’s how I feel.
Big Nodge Wrote: ------------------------------------------------------- > I can see you’ve made your deicision and I hope if > works out well for you. As a general comment > though, in this industry work experience is much, > much more valuable than the CFA charter. The > charter is a nice compliment to your resume and > may help you get an interview or climb the ladder, > but nothing beats actual experience. Agree 100%.
That’s true Vince, I read the whole thread pretty quickly and thought the OP said the position he was considering would be more hands-on than that, but that may have been someone else. If the position was anything like the job described in detail then yeah, the decision is much tougher and it might be better to wait for something better, especially if your current gig is decent. I’ve got no problems with paying your dues, but stocking the fridge? **** that.
rady27 Wrote: ------------------------------------------------------- > aspiring-analyst, > > I’ve read this post very carefully and I think I > can be of some help. I work in NYC at a mid-level > IB in sell-side equity research as a Research > Assistant (or Junior Analyst as your firm calls > it). My job, like you described above, is a > “junior position supporting all of the analysts in > the department.” It sounds like you’re a couple > years out of college (I graduated in 2004) and > have similar work experience. I completed Level 3 > in 2006 and am waiting to satisfy the work > experience requirements. > > All of the posters above make great points. You > and I are really not in a position to be very > picky in our job search, especially when the goal > at this stage of the game is to get relevant work > experience. Studying for the CFA should > supplement your job; they are not mutually > exclusive. > > As for the position, it has its advantages and > disadvantages. The major advantage is that you’re > exposed to (notice I didn’t say “work with”) > Analysts and Associates on a daily basis. You > will learn some new things through osmosis alone, > which will help somewhat in your studying. The > disadvantage is that the advantages end there. > > When they say your job is to “support the > Analysts” it means that you’ll be doing the jobs > that neither they, nor their Associates, want to > do. This means your day will consist of making > photo copies, doing expense reports, booking > flights/hotels/dinners, stocking the > refridgerator, picking up lunch, updating email > distribution lists, sorting mail, answering > phones, and doing channel checks. You will be > pulled in a million different directions all the > time and there will always be someone complaining > that you’re not doing enough for them. (As an IB > Analyst you’d be doing similar tasks for more > hours and more pay and for just one Associate and > one VP). It is a thankless job and the gap > between Assistant and Associate seems huge. > > Some Analysts will try to give you interesting > work, most will not. If they let you do overtime > (I’m not allowed) you might be able to pick an > interesting project. Plus, I report directly to > our secretary. > > The fact is, I feel more like an intern than a > professional, which is especially frustrating > since I’m (hopefully) two months from being > chartered and feel like I took a step back in my > career. However, you are in Research and can > state that on your resume, which will help your > exit opportunities should you decide to leave. > > My advice: Ask a ton of questions during the > interview process. DO NOT RUSH INTO THIS. Ask > what your job function is, who you report to, what > kind of developement they can give you. Remember, > all they need is a gopher and they will heavily > exagerate your responsibilies to lure you in (just > like most entry level jobs). Just be cautious and > do your research and you’ll be fine. I am also thinking of breaking into IB, but should I aim for IB analyst or Research Assistant/Associate? I only have less than two years of credit analyst experience (doing mostly financial statement analysis) and I also only have BS Finance degree. Do I have any chance? I posted similar question before, but people just made fun of it rather than trying to help me.
@ Big Nodge The position i was considered for was more hands-on. Updating models, gathering & summarizing data etc. I guess little adminstrative stuff would have been thrown my way but not sure what (they didn’t mention any). My current gig is pretty decent and i’m sure i’ll find something in near future (once i’m done with L3). @ Vince “once you’ve got the CFA headache behind you, then you’re done. Huge weight off the shoulders”. — that’s how i feel 
@ sleepybird Reading several posts, it seems hard to get into IB. Unless you go to some top tier grad school where all the IB’s do their hirings. I think you have a better chance getting into Research since you already have solid understanding of the financial statements. Good luck with your quest.
Alayle Wrote: ------------------------------------------------------- > Edit: I just re-read your whole post and your > assistant position seems to be more > office-oriented work than I do. I sure do update > mailing lists, but I’ve been asked to update > actual models / create worksheets here after only > 2 months. I guess the title is relative to each > firm. Hey Alayle, I’m thinking of applying for a research assistant position with a small Canadian asset management firm (I think there is only one research analyst). The job descriptions says that the research assistant will be executing models, gathering data, editing and formatting reports, assisting the marketing department on an ad hoc basis, administrative duties (filing, booking corporate meeting, etc) Does this position sound similar to your position? Also do you have any idea as to the typical salary of this position? I just don’t want to be a position where for the majority of the time I’ll be doing all the stuff that rady27 described in his post. Thanks.
based on what I read here and talking to others, I think it would be more beneficial to have experience and have only level 1 completed vs having level 2 competed and no experience, I am going to make an internship my priority for those of you who are familiar with the ER interview process, a) is there anything we should be aware of during the interview? b) what qualifications/experiences or skills should be emphasized in the resume and interview ? c) what does the recruiting manager want to hear ? (the HR is doing on campus interviews) thank you all !
in my opinion having directly relevant experience is more valuable than having any and all levels completed, or even having your charter. and this is coming from a charterholder. for ER be sure you have a couple stock picks down cold. be able to tell the story of the company, and have some relevant multiples and how they compare to peers and the broad market to support your thesis.
Should a candidate interviewing for an Associate position with no finance background at all, expect any finance questions during the interview? I’m interviewing with 3 sell-side firms right now and have yet to have a finance-related question. It’s clear from my resume that I don’t have that background, but from reading this forum, it sounds like an accounting or CFA background is the only way to even be considered for these jobs. I can certainly say that’s not the case. Interested to hear from anyone else that broke into ER without the standard B.Comm or CFA past.
P.dub Wrote: ------------------------------------------------------- > Alayle Wrote: > -------------------------------------------------- > ----- > > Edit: I just re-read your whole post and your > > assistant position seems to be more > > office-oriented work than I do. I sure do > update > > mailing lists, but I’ve been asked to update > > actual models / create worksheets here after > only > > 2 months. I guess the title is relative to each > > firm. > > > Hey Alayle, I’m thinking of applying for a > research assistant position with a small Canadian > asset management firm (I think there is only one > research analyst). > > The job descriptions says that the research > assistant will be executing models, gathering > data, editing and formatting reports, assisting > the marketing department on an ad hoc basis, > administrative duties (filing, booking corporate > meeting, etc) > > Does this position sound similar to your position? > Also do you have any idea as to the typical salary > of this position? > > I just don’t want to be a position where for the > majority of the time I’ll be doing all the stuff > that rady27 described in his post. > > Thanks. Sorry for the delays P.dub, I’ve been away for Christmas stuff. Yes, the job description looks exactly the same as to what I currently do. However, the nature of my work really is different depending on who is unloading his tasks over my desk. I mostly work with associates, and they know how I can perform and al, so they don’t hesitate to delegate more complex tasks. When I work with analysts, their requests are more simple (because they don’t often ask for stuff I guess). Anyway, I would expect around $45k-$50k base for what you described. Good luck