Reasonableness of Expectations

So I have determined that I need a new career path to maintain my sanity. I want to ensure that my aspirations and qualifications will closely align within the next couple years, and would appreciate any insight from others on the forum. Position Desired: Equity Analyst Academic Background: - Bachelors in Business and Masters in Accounting from McCombs School of Business, UT - Austin (3.4/4.0 in both degrees) Work Experience: Currently within second year of audit within a Big 4 accounting firm (I do not plan on quitting until I obtain a desired position) Certifications: CPA Currently studying for Level 1 of CFA, plan on passing all 3 sections within next 3 years Additional Information: I’m spending a lot of free time becoming highly proficient in financial modeling skills and basic programming therein (specifically VBA, considering Matlab if it will add significant value). My main question is whether my current direction has the ability to lead to my eventual goal. Also what other steps I should consider taking along the way to expedite my aspirations. I seem to spend more and more time daydreaming about the markets and want to materialize this fascination into a fulfilling career. My greatest concern is my GPA, I underperformed in relation to my capabilities in college (which can only be blamed on my inability to see the big picture during these crucial years). Any advise would be greatly appreciated.

“Currently studying for Level 1 of CFA, plan on passing all 3 sections within next 3 years” Why not 18 months? Let’s show some ambition here

When you hit the resume-writing stage of this process, make sure you indicate you’d like to pass all 3 CFA levels within 2 years (Dec-June-June), and that it will ensure superior performance in your applied-for role. Employers generally like to see that sort of ambition.

“plan on passing all 3 sections within next 3 years” Let us know how it goes bro!

The only reason I noted 3 years was because my girlfriend’s graduation is on the date of the December exam, so I plan on taking each level in the next 3 available sessions (I am highly ambitious, but I had to prioritize accordingly). I have already received the curriculum for the June 2009 test. I don’t foresee needing 10 months to study for the exam, but I am also studying other topics in depth concurrently to help supplement the concepts within the curriculum. Thanks for the support :slight_smile:

Looks good NewDirection. Just remember not to underestimate the CFA. Tell us how everything goes!

NewDirection Wrote: ------------------------------------------------------- > The only reason I noted 3 years was because my > girlfriend’s graduation is on the date of the > December exam, so I plan on taking each level in > the next 3 available sessions (I am highly > ambitious, but I had to prioritize accordingly). I > have already received the curriculum for the June > 2009 test. I don’t foresee needing 10 months to > study for the exam, but I am also studying other > topics in depth concurrently to help supplement > the concepts within the curriculum. Thanks for the > support :slight_smile: You are gonna have to choose between your girlfriend and CFA…

Well New Direction if you find success let us know. I had a similar background and was looking around with no success in ER. 2.5 years Audit (not there now thank god), CPA, Level I CFA, own my own business, and small experience doing some FSA for a local M&A firm. I think the advice would be network like crazy. More so now than ever. I actually am glad I didnt find much because after discussing with some people in ER I think it would be too detached for me and I really like my new role. Much prefer a more impacting role (operational) for my tastes. Plus it doesnt hurt to have a lot of time for other crap. Look at it this way, you can still invest and make the same decisions regardless of your profession. Oh and yeah, choose now between CFA and girlfriend.

How about my expectations? similar to him but, well, 6 years in audit, not 2!!! Dream position: ER plan: mid Oct GMAT Fall 09: 1 year MBA FAll 2010: grad, market is up and get my dream job! Possbile or impossible?

miker2800 Wrote: ------------------------------------------------------- > NewDirection Wrote: > -------------------------------------------------- > ----- > > The only reason I noted 3 years was because my > > girlfriend’s graduation is on the date of the > > December exam, so I plan on taking each level > in > > the next 3 available sessions (I am highly > > ambitious, but I had to prioritize accordingly). > I > > have already received the curriculum for the > June > > 2009 test. I don’t foresee needing 10 months to > > study for the exam, but I am also studying > other > > topics in depth concurrently to help supplement > > the concepts within the curriculum. Thanks for > the > > support :slight_smile: > > You are gonna have to choose between your > girlfriend and CFA… Yeah, I agree. This is your future. You can save 6 months by skipping the graduation and sitting in December. If she loves you she will understand . :slight_smile:

Networking is the most important at this point. What you need to do is start meeting research analysts and collect their business cards, then update them (at minimal) everytime you pass a CFA exam. Going 3 for 3 is indeed ambitious, yet somehow I feel that 3 years is too long especially for a career switcher. You really need to shoot for 18 months. Don’t let the sarcasm deter you. It has been done (yours truly), and I was from engineering and within 2 years am now doing equity analysis for a small buy-side shop

I agree about taking the L1 in December. Being able to go December-June-June as opposed to June-June-June is a tremendous difference. That’s an extra year right there. For someone who seems to be desperately seeking a career switch, being able to have L2 under your belt a year from now, as opposed to two, should prove to be a notable asset in your job search. There’s nothing wrong with being a supportive boyfriend, but the Mrs. better get used to taking a backseat to these exams (a slight exaggeration, but not really). One day is nothing compared to the prolonged absence that will result from you having your head buried in a book for 5+ months of studying at a time. Setting one of your career goals back a year just to make some face time at a formality of an event is a decision that merits serious contemplation. On a related note, this talk of timing brings me to an interesting question. For those who have been in the position where they’ve passed L3 but had to wait to get the charter, how big of a difference do you feel getting the charter made? It would seem to me that besides the three letters after the name, it might not make a tremendous difference, particularly to a potential employer. Clearly, if you have the charter, this means you have significant work experience in investment analysis, which is desirable in its own right. However, looking purely at “Passed Level III” vs “CFA Charterholder,” how big is the perceived difference? I ask this because regardless of whether he takes L1 in December or June, this is a situation the thread starter will likely encounter (and myself, with any luck). Edit: Also, agree with the point about networking. Relevant work experience and a strong network will trump any certification/charter you have under your belt.

Actually having the charter only matters for client facing roles where the firm needs you to have the credibility the letters bring. Just saying that you passed the exams does not make the same impression. In my experience, this is mostly true on the advisory side of the business. For an analyst role, it should not be relevant – people in the industry know that passing the exams is basically the same thing as having the charter, provided that you have some experience and are clearly on your way to four years.

As far as obtaining the work experience to obtain the charter, according to the cfa site, auditing qualifies and therefore I should be eligible for the charter upon completion of the exam. http://cfainstitute.org/cfaprog/charterholder/membership/jobtitles.html

NewDirection Wrote: ------------------------------------------------------- > As far as obtaining the work experience to obtain > the charter, according to the cfa site, auditing > qualifies and therefore I should be eligible for > the charter upon completion of the exam. > http://cfainstitute.org/cfaprog/charterholder/memb > ership/jobtitles.html I didn’t realize that. That’s excellent for you. All the more reason to take these tests ASAP.