I currently work for pharma company - doing evaluations of all products that are going through our CDN and US portfolio. I have a solid background in both finance and accounting. I am taking my level 3 in June. Looking for a new job. Does anyone know of any interesting opportunities – e.g. any research companies in Toronto that covers pharma industry. Any input is appreciated. Thanks in advance.
Seems very painful to break the ice in toronto…I am struggling to get my first jod in the industry. I have more or less the same background.
Are you sure you want to work in Toronto? That’s the question. I do currently and work at a buy-side firm. Having the CFA seems to mean almost nothing around here - everyone and their pet dog has it. People have interviewed for a Portfolio Adminstrator job with the CFA designation and have been DENIED. Denied! To fill out forms and fax stuff!!! Once I get my 3 letters, I’m high tailing it to an environment where the supply of charterholders do not exceed the demand by such a ridiculous multiple. ETA: maybe you should try for a firm that is just outside of Toronto - maybe Hamilton or Kitchener. It’s a bit of a drive, but I think opportunities would be better.
The opportunities in Kitchener or hamilton would not be better. There are some that exist (a VC fund and a PE firm in waterloo) but after that you mainly would be looking at discretionary portfolio management for retail clients, working at the accounting firms, or treasury at some of the larger corps. Toronto has the jobs. Hamilton doesn’t…Burlington has a couple, oakville, tornoto, scarborough…but outside a 45 minute (non rush hour) drive, your options decrease substantially…As for the CFA not being valued in toronto. I disagree. In my experience i have recieved very positive feedback after passing each level in terms of job interest and interest in having me possibly join teams. BUT this likely isn’t a function of the CFA but the everything froma quality undergrad, MBA, experience at a big shop and so forth. Don’t forget to remain humble. the CFA alone isn’t your ticket to sucess…it is one piece of the puzzle that will help get you there. If you belive that the CFA is all you need…well…about that… As for the CFA who got denied for a port. admin - likely cuz they were overqualified. Why hire someone who’ll be misearable in 3 weeks? I know i wouldn’t want that job, even if i thought it was a foot in the door. And likely the people hiring thought the same thing - we don’t have any other positions so why put someone ina situation they will hate?..
ne_sashka, did you graduate in 2005?? I think we were in the same class together (Applied studies in Finance and another one)? Toronto is a disaster to get work, someone I worked with (who was a Jr. Analyst) at a event driven HF in TO…moved to UK and got a job as an Ibanking analyst within a month (just passed L2 no real industry experience) and said she had 3 to 5 calls a week… I on the other hand (I was a full analyst and passed 3 for 3 and have more industry experience) have very few interviews (like 4 in the past 6 months)… gl, but toronto sucks for jobs in the industry - its got lots of dead end back office stuff… but thats not for me… if you have the option get the f out of TO
Yes, I did graduate in 2005. It was a pretty small class - Applied studies in Finance. How did you figure out who I am? As for Toronto market, I do know that it is a complete disaster…was thinking to go to London, UK as i have friends there who work for the industry…still considering it…have a few ties in TO - my whole family is here, just bought a condo in Yorkville… What are you doing? What do you think are the obstacles for you to get a better position?
I worked as an Investment Analyst at an Event Driven Hedge Fund, I worked on Distressed Debt capital structure arbitrage, risk arbs and so on… amazing position…before that, I think I told you when I saw you at L2 exam, that I did an internship on an FX desk…I have only ever worked in the front office… I am saying that its a disaster in toronto to get into the industry… I have interviewed for a few good position - My g/f and I are in the market for a place… looking for a true conversion loft DT… congrats on the place… I hope to put in a few stink bids for a nice loft in the next several months…
I figured it out because I remember you telling me that you are working at a pharma, plus your user i.d., then when I didn’t see you at the L3 exam and now I see you on the L3 forum - all kind of adds up :)…inbox me at firstname.lastname@example.org and i’ll send you my msn addy…
oh and the BIGGEST obstacles to getting more interviews is my lack of networking and work experience…
Just to clarify - the person who had the designation who was denied the Port Admin job had no experience in the industry - as in no banking, no finance, no investment experience. And when I spoke with the hiring manager that was more of an issue than just having the charter. To me, what I see is that having CFA after your name has become like saying “I graduated from University” in terms of getting industry jobs in Toronto. It’s exactly as Striker says - getting an interview has almost nothing to do with being at whichever level of the CFA program and more to do with your current experience, coupled with having the educational background and the personality fit. Once you’re in the industry, the opportunities do open up. I’ve gotten several offers (and I didn’t even apply) to different teams because the mgr/directors know my work. The fact that I’m now writing L3 is just a bonus for them. Almost like a check mark and evidence to give to HR when they’ve already made up their minds. I wasn’t saying there are NO jobs in Toronto. I’m saying that to straddle in with no experience is very difficult and it might be easier to get a bit of industry exposure away from Toronto and then move in.
I am not on MSN - if you are on a facebook - we can do the addy there e-mail me at email@example.com As for work I am looking for, I am more interested in Valuations, Corporate finance, Restructuring, Venture Valuations, equty research etc…these are the areas that are extremely difficult to get into… Toronto market is very segregated…especially comparing to NY and London…
ne_sashka, I’m not on any of those social networking sites. I will be starting a new postion soon :D… I hope you find a position in what you would like to focus on… I wouldn’t say segregated as much as saturated (Canada is one of the most educated population in the world over 50% have post secondary education, the fact that TO is the hub in finance in Canada causes in an even greater consentration, in my view - just check how many CFA charterholders are in Toronto versus other major finance hubs) and close community (the position I landed was not even advertised) anyways, gl on L3 and the hunt
Good luck with new position! Hope you will enjoy it. BTW, did you pass your level 3 in 2007? If yes, did you use CFAI or Schweeser/Stalla in the preparation? If you used notes providers - would you like to sell/give away the material? Write to me at yahoo.ca
Ya, 2007 - I passed3for3 :D…I used the curriculum. The best way to go, you actually learn the stuff that way (Some of the other analysts at the HF had the CFA designation [and MBAs, CMAs] and were dumb as nails - after getting the designation they seem to have forgotten even the basics — they used Schweiser and stuff) I have some of the textbooks on my desk at work for reference and am actually going to re-study all the Fabrozzi for my new position…
To everyone who says it is difficult to find jobs in finance in Toronto…my advice is to move out west. Calgary and Edmonton are just screaming for employees in the financial industry, and if you have your Charter, then you can pretty much print your own paychecks. I lived in Toronto, and like most found it very difficult to land a job in finance. Moved to Edmonton a couple of yrs ago and now the possibilities seem endless.
Mookie Wrote: ------------------------------------------------------- > To everyone who says it is difficult to find jobs > in finance in Toronto…my advice is to move out > west. Calgary and Edmonton are just screaming for > employees in the financial industry, and if you > have your Charter, then you can pretty much print > your own paychecks. > I lived in Toronto, and like most found it very > difficult to land a job in finance. Moved to > Edmonton a couple of yrs ago and now the > possibilities seem endless. That’s what I’ve heard as well. I’ve reccommended this numerous times to people wanting to work in finance in Canada who are having trouble in Toronto. I really don’t understand why more people haven’t moved from T.O. to Alberta to be honest.
I would be open to moving to Alberta for right opportunity, though I would be wary to move there without job offer considering high living cost.
Mookie, can you shoot me an email to day_for_night2 at hotmail dot com
Do NOT seek IB positions in TO. Check out NYC,Chicago, Dubai, London…very hot markets, not to mention these are safer cities with MUCH better weather…more to do after work. KEEP AWAY FROM TO!!!
TriniNY Wrote: ------------------------------------------------------- > Do NOT seek IB positions in TO. Check out > NYC,Chicago, Dubai, London…very hot > markets, not to mention these are safer cities > with MUCH better weather…more to do after > work. KEEP AWAY FROM TO!!! NYC, Chicago and Dubai safer than TO?