HI guys, just wondering how you guys got that very very first financial analyst job? I"m trying to break into the field as well, but haven’t had much luck so far. i don’t even meet the requirements to be a junior FA (which requires 1-2 years of analyzing experience) i just recently passed my Lv1 and i’ve been working as a broker’s assistant for the past year, and i’m getting really sick of it. im not exactly an outgoing person so i know i don’t want to be a broker/ be in a sales position. it would be nice to hear what the path was like for the rest of you guys out there! thanks a lot 
when you mean broker’s assistant, do you mean making cold calls to get people on the phone, then passing the phone to your broker?
@iteracom, be nice…but admittely, it was kind of funny @jcyt, you ever think about going the accounting route? Everyone here is pushing the CFA like it’s a magic elixir. Truth be told, starting out as an accountant or junior accountant then working you way up it a solid way to make it into a respectable finance role. What’s your background in, undergrad degree?
jcyt Wrote: ------------------------------------------------------- > HI guys, > > just wondering how you guys got that very very > first financial analyst job? > I"m trying to break into the field as well, but > haven’t had much luck so far. i don’t even meet > the requirements to be a junior FA (which requires > 1-2 years of analyzing experience) > i just recently passed my Lv1 and i’ve been > working as a broker’s assistant for the past year, > and i’m getting really sick of it. > im not exactly an outgoing person so i know i > don’t want to be a broker/ be in a sales position. > > it would be nice to hear what the path was like > for the rest of you guys out there! > > thanks a lot Try and find the nearest match to what you want to do in your organisation. See if you can fit there. Try and understand the skill gap. I have found writing blogs on Financial aspects to be helpful. You don’t have to write daily. It is nice way for a recruiter to know the candidate. On your blog show that you have reached conclusions in a coherent manner over a period of time. If not today, eventually this will help you to get to your place. And yes persistence helps.
I moved into a job that would be considered middle office, where you have constant interaction with investment professionals. While there, I completed the CFA program and was able to make the jump after that.
I know some people who started as bank tellers, and then moved to various parts of the capital markets business. Basically, they applied persistently to internally-posted positions until they got something. Granted, none of them are in strictly “Front Office” roles (yet), but they’re young and by my subjective account, generally moved in the right direction.
My undergraduate school had an optional program called cooperative education whereby they would solicit companies to create 4 or 8 month placements for students. They also helped you through the resume and cover letter writing experience and brought in HR reps from several companies to give interviewing and resume tips. It wasn’t very hard to get accepted into the program but obviously there was intense competition for the best placements (IB, ER, Corp Fin, Bus Dev, Accounting etc). You were required to fulfill at least 2 placements totaling 12 months of work. You had to pay tuition for the program but you were also paid relatively well for your placements depending on the company and sector. Having 12 months of previous experience made all the difference in the world when I was actually out there applying for real jobs. I have no doubt that it’s the only reason I was even selected for an interview for my first financial analyst type job (Corp Planning and Bus Dev) and it definitely gave me a step up over other new graduates. Hopefully this provided some insight and feel free to ask any further questions.
Zesty Wrote: ------------------------------------------------------- > @iteracom, be nice…but admittely, it was > kind of funny > > @jcyt, you ever think about going the accounting > route? Everyone here is pushing the CFA like it’s > a magic elixir. Truth be told, starting out as an > accountant or junior accountant then working you > way up it a solid way to make it into a > respectable finance role. What’s your background > in, undergrad degree? I tried this, being an accountant makes me want to kill myself its so boring. I have come to the conclusion after finally listening to many of the people around me, that I would fit better in a sales role. Now getting there from here is something I need to figure out.
I’m not there yet but almost. I started working for a wireless carrier in 09/2010, promoted in 01/2011 and a few Analyst jobs opened internally on 02/2011. I had an informational interview for an Accounting Analyst position. Interview went well. Lady told me she would have really considered me for the position if I would have formally applied. She gave me a few names to network with. 2 days later I got an email from a supervisor asking me to interview for an alalyst position that opened up that same day. He gave me a choice of days to interview. Apperantly i was recommended by the lady i had the informational interview with. I went to speak to HR but they shot down any hopes of transferring for at least 9 months. But I was told that if I wanted to get into finance, that I would get in. I just have to wait what seems like an eternity.
After a few experiences negotiating the pit of despair staffed by useless monkeys (aka HR) at a couple places, I decided to cut them out of the process. I wrote a letter outlining my desire to work for the firm and addressed it to the managing partner. He called me a couple days later, we chatted, and he told me if I wanted a job to show up at 6 am the following day. I did, and the rest is history. I know it’s difficult to do at many places, but avoid HR at all costs. I knew a girl in HR a few years ago - she and her co-workers were too lazy to read all the resumes that were submitted for a job and didn’t understand half of the skills people claimed to have and how they related to the job in question. Putting your resume into the HR hopper is a crapshoot. Network or find a way to approach management directly.
Great job Hayek. I also agree that HR adds almost no value; their job is primarily about CYA for their company. The one exception is if you personally know someone who works in HR at a location you target. Then they may help make sure that you show up in interviews where you are arguably qualified. But then again, knowing ANYONE at a company may be just as good or even better than knowing an HR person.
So not sure if this adds anything, but back when I was looking for a first job, I cold called a shitton of small desks, since I figured it would be good to cast a wide net. I basically told them that I was looking for the small company experience, etc. etc. Naturally, lots of them said “ok, I will call you back”. The thing is, some of them *did* call me back - after I had accepted a job at a large bank. Then I had to tell them what happened and I felt like a jackass.
But doesn’t HR need to approve your transfer if you’re staying within the same company? But aside from that, listen to Hayek, if you want something you have to go get it. Hayek Wrote: ------------------------------------------------------- > After a few experiences negotiating the pit of > despair staffed by useless monkeys (aka HR) at a > couple places, I decided to cut them out of the > process. I wrote a letter outlining my desire to > work for the firm and addressed it to the managing > partner. He called me a couple days later, we > chatted, and he told me if I wanted a job to show > up at 6 am the following day. I did, and the rest > is history. > > I know it’s difficult to do at many places, but > avoid HR at all costs. I knew a girl in HR a few > years ago - she and her co-workers were too lazy > to read all the resumes that were submitted for a > job and didn’t understand half of the skills > people claimed to have and how they related to the > job in question. Putting your resume into the HR > hopper is a crapshoot. Network or find a way to > approach management directly.