I need some advices on my career.

Hi guys, I am a recent graduate from University of Waterloo with a math degree. My career goal is to become an equity analyst or a fund manager, so I want to start off my career in the banking/finance industries. I have no real work experience in the banking/finance institution. Only certificate I have now is CSC. I am broke so I can’t afford to pay my CFA level one at this moment. I have been looking for work in Toronto for a month and half, so far 2 phone interviews for trading assistant and no luck. I heard people saying TO is a bad place to work since the competition is intense, pay is low and tax is high. So what other cities are good for a young buck like me? Can you guys recommend me any non-Canadian career web sites. (PS the top 3 cities I prefer are Toronto, Shanghai and NY. )

If you can’t get into toronto, you won’t get into NY. CSC won’t get you anywhere. Perhaps consider taking a retail banking job for a couple years. This will do a couple things. 1) at least give you (albeit less than relevant) financial work experience 2) money to take and pass your CFA levels 3) money to save for an MBA. Then when you’re ready, go back to do your MBA and make the tranfer to the capital markets after you have an MBA and a couple levels of the CFA… Don’t like this option (plan)? You have no business background by the sounds of it so that’s not helping. Pony up the $600 to the level I in june. You’ll get their curriculum books which although not idea, will put you on the right track. Keep applying for jobs in toronto. Search other threads here for how people get ahead and noticed when applying for jobs. My go to advice, do an initiating research report on a small cap company you know a lot about. Include that stapled to the back of your resume. good luck. tough times await.

a month and a half is nothing, just look harder

I am really pissed at my school and program now. A math degree in Combinatorics and a minor in Statistics don’t get me dog shit in this country. A BBA is easier and it probably would get me alot further in my career.

doesnt waterloo have campus hiring ?? I know few people that good good jobs through there …try firms like MERCER / HEWITT …they hire quite a few new grads …

Waterloo has a career web site called JobMine. It supposes to post jobs for graduates and alumni. However, only a few position are posted every week. Most are really non-finance/banking related. (They sometimes post position for janitors for ****** god sake) Occasionally there is a decent position and hundreds people apply.

DonYuan Wrote: ------------------------------------------------------- > A BBA is easier and it probably would get me alot > further in my career. Yup, I realized that in grade 11 when all of my friends were clamoring for their BSc. Most of them aren’t up to too much these days.

Don’t get discouraged. Looking for your first job out of school is very frustrating… we have all been there except for the few who get lucky and land a job before graduating. Trust me though, in a few years you will be glad for the character you built during your first sh@tty long job hunt. Toronto is a tough venue in terms of pay. But there are jobs to put good experience on your CV. The big banks are tough to get into without being recruited from school so I think you are probably out of luck there. Try StateStreet… they chew up young grads like crazy. They pay crap and work you long hours but most people who put a year in there move onto much better things. Once you get some experience on your CV the Math degree with look good. And also, I recommend working there for a year or two nad then trying to switch locations. A former collegue of mine moved to HK after a year and I moved to Bermuda… all rellocation costs covered. But companies won’t do that fro new grads cause you have nothing to offer yet except a willingness to work. Hang tight and it’ll work out. Takes about 3 months on average.

If you got 2 trading assistant interviews in Toronto youre not doing too badly. Your school/GPA only gets you to the first interview. If you cant get through that then perhaps work on other things? Perhaps prepare more for these interviews? I too know of quite a few waterloo math grads in good positions…ie fixed income, derivatives…Just keep working at it.

Also, how did you manage to not get any work experience over your summers? Do you have extra currics? Thats a big disadvantage, UW Math grad or not…

I worked as a Resource and Management Administrator in the Canadian Arm Force for the past three summers and most of my free time. I did a lot back office paper work in that job. It doesn’t look too impressive no matter how I window dress the tasks. I was stupid and spent a lot earning on useless stuff and partying. Now I don’t even have money to pay for CFA. I have asked my parents enough financial support so I can’t really ask them to do more for me now.

u can’t chew up 600 bux for CFA exam? Cut ur daily expenses, stop buying booze and starbucks, stop goin on dates and what not and start saving.

yeh i reckon just take the hit… i dunno about over there, but over here, im using is as one big tax deduction, so its not all that bad

Parents don’t like to be viewed as “Bank of Mom” or “Bank of Dad,” but they usually do like to be investors in their children. So if you can point out what the CFA exam is, what types of jobs it is designed for, and reassure them that you’re not asking them to subsidize a life of partying, I think that - unless they are struggling to put food on their own table and a roof over their own heads - most parents would be pretty happy to help out with CFA fees (and maybe even a study course). If you really want to convince them, tell them you will repay the fees if you don’t pass (but then you’d better study hard!)

the truths is, having CFA level 2 Candidate on your resume, doesn’t help much either.

don’t you have a credit card?

1.5 months is really nothing and if you’re discouraged now, maybe you need to re-check your desire to be in such a competitive industry. To echo some of the previous posts here… 2 phone interviews with no experience is actually doing pretty good. You really just need to give it more time and from the sounds of it, you may need to work on your interview skills. Waterloo has a career center… go there, get some feedback on your resume, cover letters and most importantly your interview skills. Finally, you should expand your focus… there are tons of jobs in TO in the finance industry… capital markets BO/MO, etc, commercial banking and retail banking… and like what the first person said, save up for the MBA and work towards it. If it’s a long term goal than you need to have a long term plan and long term commitment. All the best.

You should use your statistics and combinatorics and see if you get “lucky” in Las Vegas.

DonYuan Wrote: ------------------------------------------------------- > I am really pissed at my school and program now. A > math degree in Combinatorics and a minor in > Statistics don’t get me dog shit in this country. > A BBA is easier and it probably would get me alot > further in my career. You are wrong. A few years down the road, you will be GLAD for your quant background that gives you a leg up on virtually ALL BBA and Commerce grads. Keep trying and best of luck.

if you think toronto is hard, try victoria BC !!!