Hi all, I am a level II candidate and so far I haven’t been able to get any interview. (I have a two years working experience and a degree in statistics) So, now, I am wondering whether this study is actually useful and which positions would be suitable for a such profile. Furthermore, could anyone advise me about how can I improve my job search (e.g. sector, industry, company and so on…)?? Thank you very much!!
It may help to mention where you are based and where you are looking for a position, the job market is not easy at the moment.
Passing Level I doesnt really mean much/hold much weight.
anto Wrote: ------------------------------------------------------- > Hi all, > > I am a level II candidate and so far I haven’t > been able to get any interview. > (I have a two years working experience and a > degree in statistics) > So, now, I am wondering whether this study is > actually useful and which positions > would be suitable for a such profile. > Furthermore, could anyone advise me about how can > I improve my job search (e.g. sector, industry, > company and so on…)?? > Thank you very much!! get that PHD, player hating degree.
What kind of experience do you have and what sort of jobs are you applying for? Since you only have 2 years of experience, which college you attended and your grades are also extremely relevant.
I was a statistical modeller (SAS) in the first year and in the second year I worked for a big four in the financial services as a junior consultant. Now I am applying for advisory firms, investment research firms and energy trading companies. I have a bachelor’s degree from University of Milan, Italy. I am applying for jobs in EU.
Here is One more person who thinks that after Level 1 he’ll get something.Dude I am searching from last 3 months.I am from India and got nothing but here people in AF have motivated me a lot.Thats why preparing for Level 2.I have 3 years of work ex in Hard Core Accounting and working with all the Chartered Accountants. Still…not able to get even a single job in investment world.
what happened to the big four job? You shoulda stuck wiht that, its a good starter in euro
The best way to leverage on the CFA is when you are already interviewing for a finance job and you are up against similar candidates who are not pursuing the CFA track [but may have the same education and work experience as you do]. I know someone who got into a large global bank just because he was a charterholder while the other candidates were not. I know there are too many moving variables here, but the person who got accepted swears that it is the charter that swung it over his way. With that, I can generally say that the CFA is a good thing to have when you are already in the career path on investments/financial analysis. Other than that, it would be difficult to convince the cold hearted recruiters that you are suddenly a finance guy when all he sees in your resume is either computer programming/systems or marketing.
okiew5 Wrote: ------------------------------------------------------- > Passing Level I doesnt really mean much/hold much > weight. this statement is incorrect. take two similiar candidates, one who passed level I and is working Level II and one who hasnt passed level I (or might not even be taking it) and put them up for the same job. if you were the recruiter, and you knew what it took to just pass level I, i feel the nod would ALMOST ALWAYS go towards the Level II candidate. Level I holds a lot of weight with anyone who is familiar with the program, level II even more and so on and so forth. its a DEGREE/SKILLSET ENHANCER. as for getting it to change careers, i can’t speak to that as I’ve never had to deal with it
If they are similar candidates, then yes obviously the Level II candidate is going to get the nod. My statement was more directed along the path of changing careers or trying to jump from the BO to FO.
CPAbeatsCFA Wrote: ------------------------------------------------------- > okiew5 Wrote: > -------------------------------------------------- > ----- > > Passing Level I doesnt really mean much/hold > much > > weight. > > this statement is incorrect. take two similiar > candidates, one who passed level I and is working > Level II and one who hasnt passed level I (or > might not even be taking it) and put them up for > the same job. > > if you were the recruiter, and you knew what it > took to just pass level I, i feel the nod would > ALMOST ALWAYS go towards the Level II candidate. > > > Level I holds a lot of weight with anyone who is > familiar with the program, level II even more and > so on and so forth. its a DEGREE/SKILLSET > ENHANCER. as for getting it to change careers, i > can’t speak to that as I’ve never had to deal with > it No sh!@#! Of course if two similar candidates were equals and one had completed level I and the other had no intentions of pursuing the charter then he would get it. That still doesn’t mean passing the Level I exam propels you into auto-interview status. Trust me, level I doesn’t do you a helluva lot. It won’t get your foot in the door, it definitely won’t get you a job, all it is something that MAY, at best, complement good work experience coupled with solid networking skills. Geez, everyone needs to stop questioning why they dont get offers by applying for 20 jobs online and quoting that you’ve passed level I of the ever elusive CFA EXAM! hahahha… For those who are truly networking and having no luck, keep at it, it’ll come, unless you have no personality then you’re prob. screwed.
SAML1 Wrote: ------------------------------------------------------- > Here is One more person who thinks that after > Level 1 he’ll get something.Dude I am searching > from last 3 months.I am from India and got nothing > but here people in AF have motivated me a > lot.Thats why preparing for Level 2.I have 3 years > of work ex in Hard Core Accounting and working > with all the Chartered Accountants. > > Still…not able to get even a > single job in investment world. And here is a candidate who thinks is smart…L1 can be more than enough…you’re signaling the market about your ambitions so why wouldn’t be enough??? because you’re searching for 3 years…? I believe your opinion is not statistically significant… It will always depend on the rest of your professional experience…but it seems in india things are tough though…keep trying SAML1. anto, what were you expecting from here? you should screen exhaustively the market and leverage your network…besides that it will always depend on what you think you would like to do or at least try to do. don’t give up dude!
The charter is gravy to the employer. If you have it, then well and good. If you don’t then you will have to prove yourself during the interview through academic and experience merit.
The charter is definitely gravy to your present experience/education
hi tigas, my idea is to leverage my financial/risk modelling skills and trying to get a junior position in the financial services environment or in the energy markets where, I know, companies use also option pricing models. Moreover, I am expecting from you some insights to improve my search. I think it’s always important to share personal opinions with other people that have some common exp. Thank you everyone!!
The real issue is not whether you are qualified for an interview or a second look because of passing L1. When the economy was rolling and companies needed to beef up their ranks across the board, jobs were just there for the picking and people on the way to their CFA did have a leg up over their hard-work-averse peers. Today, however, there are many people who have lost jobs with many more years of experience than the average poster here, and some with the CFA letters after their name, who are willing to take a pay cut just to get a job. Those are the people that will get the jobs ahead of those with less experience and only partial progress toward the CFA. It’s another crowding-out effect. I’ve been working for about 12 years and have seen this happen twice. This cycle will be much longer than the last, though! I’d keep plugging away at your CFA but consider getting your MBA as well. It’s a great time to be in school (aside from the loan accumulation) because, hopefully, there will be some recovery or at least stabilization of the economy in the next two years. Maybe not new jobs but a steadying of industries and a resumption of more “normal” recruiting and hiring patterns. Also, while it is important to get into your desired field as early as possible, there is no shame in working in a “related” field (close to finance/investments) if you want to just get some overall business experience. It will be much easier to get your desired/dream job if you are employed vs. unemployed. Doesn’t seem fair but that’s how it tends to work. I didn’t get into my “dream” job until age 33 (dreams change in your 20s, sometimes) but I’ve had a nice, varied career (and I’m a regular CFA Institute member, despite only being an L2 candidate…)