Hi, I’ve decided to start this post in Level III, because I believe that the majority of you guys at this level have already on the right track to achieve an amazing career or perhaps paved the road to start a great career in the investment industry. I really need some advice or insights to decide how I should start out my career. I graduated from a prestigious Canadian univeristy last year, with an averge GPA (3.51), did one internship in an aerospace company (non-financial related position), was the VP Finance of a student club, and also had some part-time job expereinces. After graduation, I worked as an accounting assistant at school ( I didn’t wanna stay in the city, but i had to, due to personal reason). My supervisor asked me to extend my contract, but I didn’t, because I know that I won’t learn anything from that job any more, even though it pays my bill, and it’s time to move on, heading to the financial center of Canada-Toronto. I’m aware of my background is very average. I sat for CFA Level II this year, didn’t have a good feeling about the exam and have prepared to retake it next year. I didn’t study that hard, so I’ll have to swallow the result. No complaints! I have been searching for 2 months to try to find an entry-level position in the investment industry, and as many of know have known it, even the entry-level position requires some years of experience. I have applied some positions that could possibly related to investment, such as investment advisor assistant, investment representatives in a call center, but still no luck yet, not mention that the limited positions that I could possibly qualify for… I really don’t know what I should do now. There is no doubt in my mind that I will finish the CFA exams for as long as it takes. But as of now, what kind of positions should I be considering, which will push me to the right direction one day. Should I consider a teller position, just to at least have some financial services related expereince, so I could move to a more relevant position in the future… I could care less about the monetary compensation, I really wante to learn and get on the right track. I thank you for your patience to read through my prolonged talk and anxiously waiting for your enlightenment.
Becoming a teller with get you further away from being a real finance professional. It is a very separate track. Being a teller is about counting bills, and maybe you will grow to become a mortgage broker. A fine path, but not a high finance one, and not particularly analytical. Many first real investment jobs are the result of networking. So go start networking. Not on a forum, but with people from your school, your alumni network, etc. Just keep pushing. That’s what people like in investing. Pushing.
ki-zhzhu I’ve worked as an Associate for a broker - and my first role was as a rep in a call centre -bout 10 years ago now - I am also in Toronto - so i can provide a bit of guidance on both if you’re looking to get into either role - the absolute first thing you’ll need is the CSC and CPH through the CSI Institute - these are required to obtain your trading licensces -you won’t even be considered on the discount or full service side without these basic requirements - the good news is - if you’re motivated and enroll right away - you should be able to do both before you need to get serious about your L2 being a teller - while clearly not related to your chosen path - at least gets you in to the firm - it’s not very difficult to make the transition from branch to call centre once you’re in the door - but the CSC and CPH are a must hope it helps
ga yao!
“I’m a bank teller” - Michael Scott
To tkchunc, thank you for taking the time to get back to me. i definitely agree with you that starting out as a teller won’t even be close to where i would like to end up in the long run ( not a analytical role at all). But i have to start somewhere somehow if that’s the only optional i have now ( don’t know yet, still trying to search…) I’ll definitely network with the people I know or don’t know ( from school, from career fair, from professional association…) In terms of networking on this forum, i see it’s a means of opportunity to learn from other people, listen to their experience and advice, i think i’ll still keep doing it… i like the word u used " pushing", yeah, just keep on pushing…
to chiffy, thank you for your genuine insight. i actually obtained my CSC this January and has planned to enrol and finish the CPH as soon as i settle in Toronto. i actually got an interview opportunity from BMO for an investment rep position last yr, but because i’m in montreal, so they need bilingual ppl… i went to the career fair last yr at my school, talked to the representatives from RBC for a call center position, but still the same story ( they need bilingual), the HR lady even told me that after i finish my contract with my employer and if my French was improved, i could contact her… and of course mastering a language takes several yrs of practice i’ve applied for a handful of positions in Toronto, but so far, no interview yet, i guess the competition is much more severe than i expected… all in all, your advice is indeed appreciated.
i know the senior manager at BMO Investor line in Toronto - close friend of mine - and i used to work at RBC Direct Investing for 4 years - still have a ton of contacts there shoot me an email at bchizz@hotmail.com when you’re in Toronto can’t promise you anything - but can put you in contact with a couple of guys the rest is up to you.
to chiffy, all i can say is–thank you-you are very generous. i’ll be in toronto in sep and will shoot u an email.
i’ve been called worse but no sweat
Really… bank tellers and call centre jobs are what you guys are advising he get into? When I graduated from uni of toronto, my first job was as an accountant in a private equity firm, and now I working in treasury for a large multinational. I would not even consider adding such trash to my resume… You’d be much better off if you took a year off and volunteer for a non-profit. A bank teller/call centre job will not get your foot in the door, it will not help you at all. It will in fact keep you from the high finance jobs faster than simply being unemployed.
trash ? the only that reeks is your arrogance - some very talented people got their starts in all these roles mentioned above - guy’s 22 - if that - cut him a break i don’t see anywhere where we - or myself - actually advised he get into those roles - i guess reading is not required at your large multinational he specifically states that he was looking into those roles on his own - but had no luck in montreal but is moving to Toronto - where - if he’s still considering those roles - i might be able to put him in contact with a few guys - and - again - reading is required here - i mention to him that it’s not a difficult transition from teller - to call centre / broker assistant - and it’s not - transitioning from teller to a " high finance role ’ is mentioned in line - oh wait - its not mentioned feel free to review the posts at your discretion and yeah - that’s great advice - freshly graduated and take a year off and volunteer while all your peers that just graduated scoop up what little jobs are available - then - try again next year and compete with a new batch of graduates with the zero industry experience you haven’t accrued - in any role
Seriously though… There is no way in hell anyone could transition from Bank Teller to any serious investment front office position. Not a chance in hell. One would definitely be better off taking the year off and volunteering somewhere, joining the military, or practically anything… at least then they’d have something interesting to talk about at an interview and maybe make some connections along the way. IMO having “Bank Teller” listed anywhere on your resume (unless it’s while your in HS/college) would lead to immediate disqualification. A better bet would be to get a entry level gig in the back office of some respectable investment firm… but still very low likelihood of moving to the front office since everyone else is trying to do the same thing.
chiffy Wrote: ------------------------------------------------------- > trash ? the only that reeks is your arrogance - > some very talented people got their starts in all > these roles mentioned above - guy’s 22 - if that - > cut him a break > > i don’t see anywhere where we - or myself - > actually advised he get into those roles - > > i guess reading is not required at your large > multinational > > he specifically states that he was looking into > those roles on his own - but had no luck in > montreal but is moving to Toronto - where - if > he’s still considering those roles - i might be > able to put him in contact with a few guys - and > - again - reading is required here - i mention to > him that it’s not a difficult transition from > teller - to call centre / broker assistant - and > it’s not - transitioning from teller to a " high > finance role ’ is mentioned in line - oh wait - > its not mentioned > > feel free to review the posts at your discretion > > and yeah - that’s great advice - freshly graduated > and take a year off and volunteer while all your > peers that just graduated scoop up what little > jobs are available - then - try again next year > and compete with a new batch of graduates with the > zero industry experience you haven’t accrued - in > any role You’re inability to read inbetween the lines to ascertain that he is looking for an analyst job as opposed to a coin-counting job is actually funny… and you are trying to lecture me on reading comprehension? Do I really need to point out how you are advising/encouraging him to pursue this absolutely retarded notion that a bank teller will get you anything in finance? Really, OP, you listening to this guy will the absolute worst thing you can do for your career.
I’m really glad to hear all kinds of voices and feedbacks and i do understand why McLeod81 and bruizeman think that start out as a teller is far of track and it won’t even be close to where i eventually would like to end up-- which is the front office. I have to start somewhere somehow. I’ve been looking for entry-level positions in the back office, in the middle office, in brokerage firms, in investment management firms… But so far no luck. If i had a choice, I would love to start as an analyst, but even the junior positions require 2 to 3 yrs of experience. So I don’t have a choice now, I could only hope for getting into an administrative/clerical/customer service role first. In terms of volunteering, if I could get a position that pretty resemble the kind of works of an analyst in the front office, then i would be open to consider it. If there is a position like that, please let me know. I have to justify this for chiffy, he didn’t talk me into starting a position as a teller, I was just wondering if I still couldn’t find a position within the next 2 to 3 months or so, then should I just at least start somewhere? Then to see transfer to the brokerage side, get some experience in the investment industry… And trust me, it’s just killing me inside to think about starting as a teller. Otherwise, how do you get started in the investment industry, for people like me who doesn’t have any experience and with a very average background. I was also thinking doing an MBA or master in finance in 3 to 4 yrs, if that could give me at least a shot to get into the front office. But that’s something I’ll consider in the future. Every bit of your advice is fully appreciate:)
bruizeman Wrote: ------------------------------------------------------- > Really… bank tellers and call centre jobs are > what you guys are advising he get into? > > When I graduated from uni of toronto, my first job > was as an accountant in a private equity firm, and > now I working in treasury for a large > multinational. I would not even consider adding > such trash to my resume… > > You’d be much better off if you took a year off > and volunteer for a non-profit. > > A bank teller/call centre job will not get your > foot in the door, it will not help you at all. It > will in fact keep you from the high finance jobs > faster than simply being unemployed. I was actually thinking about getting an accounting designation ( CA, CMA or CGA), especially being an CA, which allows you to learn different industries and business. Being an accountant working in the investment industry + CFA will open up a lot of opportunities. But it all depends on how future unfolds for me, if I’ll be in that kind of position to pursue an accounting designation. I was wondering how did you become an accountant ( don’t you need some yrs of working experience) right after University? You must have a strong extra-curriculum+strong internships+strong grade I assume. If you feel comfortable to share some of ur experience, that would be great, if not, no hard feelings…
Three easily ways to get into the industry: 1. Internship (unpaid) 2. Dividend Processor, lock box clerk, etc, etc, etc (i.e. meaningless back office job) 3. Sales (probably your best option if you want to get into F.O.) I have done all three so far… You have to understand that the job market is nearly impossible to break into unless you have something going for you in terms of interpersonal skills or experience. Being a bank-teller is not an entry level finance position any more than being a bagger at a grocery store. I know people who were bank tellers at age 15 as their first job during high school. What you need to do is NETWORK. Press the pavement and get your ass in front of some people, and tell them you will work your tail off and want a chance to prove yourself, blaa, blaa, blaa, blaa… Eventually you’ll find something if you are good at selling yourself.
ki.zhuzhu Wrote: ------------------------------------------------------- > > I was actually thinking about getting an > accounting designation ( CA, CMA or CGA), > especially being an CA, which allows you to learn > different industries and business. Being an > accountant working in the investment industry + > CFA will open up a lot of opportunities. > > But it all depends on how future unfolds for me, > if I’ll be in that kind of position to pursue an > accounting designation. > > I was wondering how did you become an accountant ( > don’t you need some yrs of working experience) > right after University? You must have a strong > extra-curriculum+strong internships+strong grade I > assume. > > If you feel comfortable to share some of ur > experience, that would be great, if not, no hard > feelings… Well being an accountant is at least a much better option than being a teller that’s for sure. At least you will get a crack at the MBA as a way to transition to finance. You will never get a MBA with your teller o call centre - csr at a branch career path… I wasn’t a particularly strong candidate after school. Extra curriculars… i was involved in the academics side at uni. TA with economics dept + peer mentorship. Grades were average (3.00 - 3.50) Had a crappy accounting processing job at school I interview well though, or so i’m told. Have a pretty resume and know how to write it properly. I did have the opportunity to scan through thousands of resumes when i interned at a staffing agency. And the volunteer @ a nfp idea was geared to get you into MBA.
i’m from canada too, and i think IA assistant is definitely a good starting role and shouldn’t be too hard to find.
All I can say from experience is to choose your first job very carefully, because with it, some doors open while others close. With a teller on your resume, a lot of doors will close…