IT to finance...career change

Hi everyone, I was just wondering if CFA is a good way to move from a career in Technology to a career in Finance. Do you think one can get a well paying job in finance solely on the basis of CFA. Thanks, Mr. Clarke

If you passed L1, I think you can start from the bottom. Whether it will then become a lucrative career depends on you.

*Great* case study from busy_people here: http://www.analystforum.com/phorums/read.php?13,606224 also http://www.analystforum.com/phorums/read.php?1,605919,606699#msg-606699 …and probably a thousand other threads on AF; see if you can search for “IT” as a standalone word.

what exactly is IT anyways? are IT the guys that help us fix the computers when it freezes? from my understanding, IT are guys from Devry not computer science people right?

http://en.wikipedia.org/wiki/Information_technology

I think the younger you are, the better the chance you have. Who wants to hire someone in their mid 30’s trying to transition from IT into finance?

You don’t want to be too expensive because in reality you know nothing so why would they hire you instead of a fresh young star who will be a lot cheaper as well?

Thanks for all your help guys. After CFA, I wonder what should be my next step in transitioning to Finance.

Mr. Clarke, as someone in a situation similar to yours in order to make the transition from IT to Investment management it’s going to take some very good networking skills. You’re going to have to find a way to meet the right people and impress them enough to convince them to hire you. Will passing the CFA exam help with the transition absolutely, will it be sufficient in and of its self absolutely not.

Its very hard, especially in a sh!t market like Toronto but not impossible. I have a background in Computer Science and I started working in the field after level I and have changed jobs a couple times since then. I have passed level III now. I find the hardest thing is getting in. Don’t work in the back office, its real easy to get in but hard as hell to get out. I learned the hard way. Just try working on some financial modelling yourself and try to prepare a sample report to show to employers, cold call, network with ppl in the industry and you might get somewhere. A really good way to get in is to move to a city with opportunity (not Toronto 6800 CFA’s, few good jobs). I want to get out of here but its damn hard!!!

Hey thanks cfa_toronto_on. I am based out of New York. Whats your job profile now. Is it possible to get into middle/front office jobs right after level1

I’m also in Toronto currently working as a Project Lead. I passed level 1 in June and have been looking for work in Toronto (so far unsuccessfully). Have had many opportunities to work in back office but did not go for it for the reasons stated above. CFA_toronto, how did you get in? Did you think its worthwhile to start in the IT side of an Investment management firm ? I find it’s difficult to make such a move because the IT manager questions your reason for taking CFA, obviously they are aware you are using their dept to move to the investment side eventually.

i can’t begin to estimate how many people want to switch from IT to finance. good luck

I think people forget that finance (certainly “high finance”) is less about numbers and more about people skills than you’d ever imagine. So for future IT-switchers…I hope you have the client-facing skills, otherwise you’re probably barking up the wrong tree.

DirtyZ, I agree “soft skills” are important. So knowing how to talk to ppl, make presentations, and general ppl skils will set you apart. I’ve been asked in several interviews about my presentation skills. I got into the back office (fund accountant) and then moved to middle office (manager of managers) and now I am trying to get a research associate position. Wish me luck I just had some interviews. But if you really want to switch an MBA from a top school would help (but it won’t do everything). Networking is the most effective way. It helps if your gf works at an Inv. Bank! For me I just made as many contacts in the industry as I could. Applied like hell to every job. Cold called. Created research reports on my own. Used my CFA study buddies at the local University to help me out. You name it. To make the switch you really need all the help you can get. But in NYC you probably have a better chance to get in the front office than in Toronto. Toronto has 6800 CFA’s and hardly any front office jobs to go around. I really want to get out of this hole. Its the most competitive market for the least amount of money.

just curioius… whats so bad about back office jobs?

ancientmtk Wrote: ------------------------------------------------------- > just curioius… whats so bad about back office > jobs? An extreme analogy would be like working as a janitor in a hedge fund, ie you will never make big $$$ and people will look down on you.