Hii…After the much awaited results are out…I think there are many like me who have cleared level 2 but still hoping to get into finance industry…any help for such people is much appreciated…like how to get into finance industry, opportunities after clearing level 2 etc…
Please help…
TIA
The job market is brutal, its especially tough right now to make a career switch as more hires are direct replacements than expansions. Employers want someone that exactly fits the job description. Employers will look at your experience first and if two similar candidates have the same experience, the one that is a CFA candidate will probably be considered more favorably.
sre, what have you been doing in the meantime?
It’s great to have already completed 2 levels of the CFA but you have to remember to break into this industry, the rest of your resume has to shine. Your experience, where you went to school, etc. Employers have the power to be very picky in this economy as andrew pointed out, only the top candidates and those who have good networks can make it. What you can do at this point is develop relationships/network and look for an internship.
this is why CFAI wants 4 years of work experience before you qualify. Otherwise CFA is just someone who knows how to memorize and take a test (i.e. worthless in this job market)
I keep seeing these threads! I think te first thing you should do if you have not done so already is write an investment research piece. You cannot just hope to be hired because you have passed level 1, 2 or 3. I think for people not in the industry, you need more to show you actually are truly interested in investing and the best way to do that is to write investment pieces, especially that a lot of buy side or sell side interviewer require you be able to show some of your past investment writings. I think if your piece is decent that will weigh a lot more than someone not in the industry having passed any level but not having anything to show for it (like someone said here, it means nothing other than he can take test and study hard).
Just think of it this way, when you applied and send a cover letter and resume and attach also an investment piece or even just say you have an investment writing piece available if necessary Vs someone just emailing his resume that shows level 3 or passed all levels but nothing to back it up experience wise and nothing to show that he actually can do the research job. I would think he just wasted 3/4 years passing a certification that is really hard to get and think he would have spend just 6 months passing level 1 and another 2/3 months writing a research piece to back up the fact that he is pursuing the charter despite the no related experience, it would have made more sense and also show me that he already knows what the job is like. Basically, that would mean you have not just read online that the CFA is the hardest thing to get in finance and thus will get me in the field but instead that you have looked much deeper in what the job requires and be able to show for it. If on top of that you an investment account and own a security you wrote about that did pretty well or if it has not yet moved much but your thesis makes sense, this will get you much further.
fball, I have been working in IT division for a finance client… Will this really help me??
sre, I think it can help if you utilize your position to contact people in the firm that work in some financial role. You need to really utilize the soft people skills here. Let them know you are interested what they do and maybe ask for a chance to shadow them or ask for an unpaid internship under them. You have to really sell yourself to them, let them know how you can contribute based on your previous experience. Do you have an alumni network you can tap into? Maybe message people on linkedin that are in the business that have background(I think you might have to pay for a membership to do so though, not sure). While your at it, put your resume up on different job sites, apply to internships as well as entry-level positions, write good cover letters. good luck
Networking is key…clearing CFA exams is not enough! In India, either finance companies have no idea about the value of a CFA or they have to make a choice from a pool of MBAs from top institutes like IIMs (who also are pursuing the CFA).
So CFA or no CFA, Networking is key. Make all the right kind of noises at this finance client for whom you work for and in front of the right people. What you want to do in this industry, why you want to get into this industry (you will need a convincing answer for this of course because this part of the world is shrinking currently) and try to meet as many people in this industry to get a feel about how this industry works, how a typical day in their lives at work is, what skills do they most utilize. Try to look for events or analyst/investor meets and go for these events. You will meet a ton of people there.
Its not easy, but its not impossible. You need to be very clear with your objectives and goals. Good luck! 