I have been working in the banking industry since 23, doing operation role in corporate banking. Recently i have passed Level 3 exams as i really want to move to the investment field, the future is brighter. Do you know if i am too late to join this field?
Absolutely not. You may just have to swallow title/salary in the beginning to get in as corporate finance–while somewhat applicable–is a different animal than thinking like a creditor or an equity participant/sponsor.
Honestly, it’s not about what you know, it’s all about who you know
I think a wise man told me that. Foolishly I didn’t follow but it is what it is. I feel like a vast majority of sucessful people were also lucky (and hard-working) to get to where they are at. But that’s just me.
I am 34 and getting interviews for Investment Banking Analyst roles within the energy industry. Age is definitely an issue, but the interview process and landing the job is overcoming your weaknesses in the interview process.
There are a lot of advantages of being older and more experienced with a CFA then wanting to land your first investment analyst role in your 30s.
Nothing wrong with putting your name in the hat and going through the process. The biggest obstacle is taking a step back in pay and to be honest in your 30s that is hard to do when you are used to making XYZ.
PIMCO had had an employee who was writing some software to analyze their MBS and CMO holdings. He’d done about ⅔ of the work, then quit.
They advertised for someone who knew graphics programming. I did, so I got the job.
The fact that I had a BA in Accounting – a business degree, which meant that I’d had some classes in finance – was a serendipitous bonus.
While there, I finished off the analysis software that the previous employee had started, rewrote the algorithms for computing OAS (this is where my MA in math paid off), then rewrote everything so that it was optimized for computers with multiple processors (threaded code, for those of you who understand the lingo).
After that, I developed proprietary prepayment models for MBSs.
Having a degree in business (albeit Accounting, not Finance) and two degrees in mathematics was a huge advantage in that environment.
Things are going pretty well, Brent. This Fall I have three classes in linear algebra and differential equations at CSUF; it’s a really fun class to teach. And I’m thinking really hard about going back to school to finish my PhD in algebraic topology; there’s a professor at UC Davis who would be a perfect advisor, and I might be able to get my preliminary coursework done at UCI so that I don’t have to move up North immediately. We’ll see.
I’ll be happy to charge you for a Skype session if you like . . . for nostalgia’s sake, of course.
I wont speak for S2000magician but he’s got some cool stories that we talked about with PIMCO. He’s a brilliant source for learning this material, getting ahead in the CFA, and getting past this exam. He knows more about this exam than 20 test takers all wrapped into one.
I’m pretty sure he worked in the front office.
And unlike most front office people…he’s a really nice guy…LOL