Oh they’re not that harsh… they are just giving honest opinions and good advice. I actually learned a lot from their recommendations and would be worse off without them. Regarding the CFA societies, Montreal has no CFA society job forum on the society website… so sad. I’ll be bookmarking the Toronto and Vancouver and Calgary society job webpages selon all of your advice!
Just an update… I left a message on the voice-mail of my career counselor. I briefly explained the situation (overqualified & under experienced). I also sent Canaccord an e-mail explaining I would like to gain experience and get my “feet wet” so to speak and that money didn’t matter; the experience is worth more to me and if they could help me out I would appreciate it.
JonathanC Wrote: ------------------------------------------------------- > I’m also going to try telephoning Brokerages, > Insurance companies, and the Big 4 accounting > firms to see what they have for someone in my > position. > > Anyone have any recommendations for > jobs/internships I should keep an eye out for when > applying to: "Hello Merrill / Hartford / Deloitte receptionist: I paid 48k (CAD of course) to pass two levels of the CFA exam and obtain an MBA. Although I may appear over-qualified, can you please tell me what positions you can offer me? FYI - I have a personal line of credit with RBC, so you don’t even need to pay me. "
Is that how I should phrase my e-mails? Should I mention my line of credit?
lol I hope you’re joking Jonathan otherwise, I wouldn’t look any further
No I’m not joking. I didn’t mention the line of credit in my e-mails because I only used it for tuition. All of my current income comes from a generous family inheritance which is why I don’t need a salary, but I also don’t like wasting time and I really want to build my career. Thanks for your advice, though.
JonathanC Wrote: ------------------------------------------------------- > Well I want to thank you all for giving me such > quick and useful advice. I wish there was some way > I could repay you all… I’ve browsed my school > employment center site more and come across a > large repository of links to organizations that > offer internships to new under graduates and > graduates with little to no experience. > > I’m also going to try telephoning Brokerages, > Insurance companies, and the Big 4 accounting > firms to see what they have for someone in my > position. > > Anyone have any recommendations for > jobs/internships I should keep an eye out for when > applying to: > > 1) Brokerages > 2) Insurance companies > 3) Big 4 > > ? 4) Institutional funds - pension, casuality, life co’s???
Okay, let’s narrow it down here. Assume I want to get into either: 1) Equity analysis (technology sector) 2) Investment banking What entry level positions and which firms would I be looking to apply to with no relevant experience, a completed MBA and a CFA L3 candidate? How do I START my career?
JonathanC Wrote: ------------------------------------------------------- > Okay, let’s narrow it down here. Assume I want to > get into either: > > 1) Equity analysis (technology sector) > 2) Investment banking > > What entry level positions and which firms would I > be looking to apply to with no relevant > experience, a completed MBA and a CFA L3 > candidate? How do I START my career? Investment banking is pretty much limited to the banks. I’m sure Concordia would have contacts, or that the banks have done a career fair. Equity analysis - try buy side institutional client focused investment management firms. There are an eplethora of them in Toronto. Google is your friend 
Start your research with company websites to figure out what services they offer (i.e. Canadian coverage, US, Global, etc) If you’re serious about creating an unpaid internship, SELL IT… pitch it to the partners - create cover letters and follow up with phone calls. Smaller firms will probably be more receptive. Good luck!
JonathanC Wrote: ------------------------------------------------------- > Just an update… > > I left a message on the voice-mail of my career > counselor. I briefly explained the situation > (overqualified & under experienced). I also sent > Canaccord an e-mail explaining I would like to > gain experience and get my “feet wet” so to speak > and that money didn’t matter; the experience is > worth more to me and if they could help me out I > would appreciate it. you’re so nice and polite… Can’t you find something in sales ? Financial Adviser something like that ?
Wow - No why would someone care that you have a line of credit? How is that relevant to your ability to do the job? DON’T tell them that money is not an issue, you don’t want to give the impression that you can work for free for ever (AND if you can, why the heck do you care if you have an IB job where you will work crazy hours?) just to get in the door and get some experience and a reference to put on your resume. Have you tried using a recruiter? They could probably help you get your foot in the door somewhere. I would say that having such low salary expectations also makes you look desperate (which you may be) but you don’t want to let them know that. JonathanC Wrote: ------------------------------------------------------- > No I’m not joking. I didn’t mention the line of > credit in my e-mails because I only used it for > tuition. All of my current income comes from a > generous family inheritance which is why I don’t > need a salary, but I also don’t like wasting time > and I really want to build my career. Thanks for > your advice, though.
Okay, so is my best bet to do the following: 1) Push university career management services harder to find something for me 2) Use networks like LinkedIn to network with alumni and friends for job openings 3) keep plugging away at online sites like Workopolis.com, Monster.ca, etc… 4) NOT accept unpaid internships and apply to jobs like “Junior/associate/assistant” “Equity Analyst/Investment Banker” ?
I think a recruiter would be helpful for you
Like Robert Half and Michael Page?
JonathanC Wrote: ------------------------------------------------------- > No I’m not joking. I didn’t mention the line of > credit in my e-mails because I only used it for > tuition. All of my current income comes from a > generous family inheritance which is why I don’t > need a salary, but I also don’t like wasting time > and I really want to build my career. Thanks for > your advice, though. If you have the capital to not get paid, you have the advantage of taking your time in applying to exactly what you want to do and getting exactly what you want to do. A lot of people are not in that position and get a job close to what they want to do and compromise. Another alternative is you can sacrifce pay for the brand name and/or experience. You could get in a top notch shop unpaid, and prove yourself. I would just wait until the opportunity that you really want to do comes out. Or if you really have enough capital/credit, you could start your own company and hire all these people who got kicked off the Wall St. boat, be founder of your own firm and make decisions on how things will run. Even though you might not have the experience to execute, you will have enough insight to pick bright people around you that can execute, while you provide direction.
That’s some pretty good advice! I wish I had THAT much capital but I only have enough to last, say, 2 years maximum. I don’t want to end up like the others you made reference to who compromised and landed a job nowhere near their career aspiration paths. I don’t mind taking the time to apply to the right job, BUT I just want to make sure that jobs like: “Junior/associate/assistant” “Equity Analyst/Investment Banker” are the ones where I will be applying CFA material and are the ones for fresh CFA/IMBA grads with no experience like myself.
JonathanC Wrote: ------------------------------------------------------- Regarding the CFA > societies, Montreal has no CFA society job forum > on the society website… so sad. > Are you sure about this? Is it because there is currently no jobs and if there is one, it will be posted?
I think I have to be a member of the society to get access to the job listings. That costs money.
Hi Jonathan… it’s cfa1@live.ca. I see your posting got much attention – i wonder why… is that because most out there unemployed?! Today, I have another suggestion for you… Concordia alumni society offers mentorship program. Register with them and search for an investment professional (also Concordai alum). Good luck & keep me posted.
JonathanC Wrote: ------------------------------------------------------- > I think I have to be a member of the society to > get access to the job listings. That costs money. I don’t think you have to be a member. I believe it’s $60 for 3 months of job board access.