Maybe it is a US thing since you are saying BB. I havn’t heard of a single Canadian shop utilize associate underlings or whatever you want to call them. A secretary books flights and does admin work, and associate does all the other grunt work. Sort of sounds like a jr investment banker or something - we don’t have those either. Regardless, I agree with everyone else that if you are going to have a job that actually does something important the pay will be at least 40-50k and you should take it as a first step.
N. VanCandidate, Thanks for the advice. Yes, I do want to break into investment world, that’s why I took the CFA in the first place. I may have misunderstood, but are you saying that my current job as a revenue analyst would not give me any valid experience in helping me to break in? Because I took this job 2 months ago as my first step to break into investment industry as I was a software engineer before but that didn’t provide any finance experience. As for the business analyst role suggestion, I am involved in business decisions at my firm as we are the ones that provide the analytics to provide approval for business cases. I’m not sure if that’s what other ‘business analyst’ do. With regards to the engineer getting into finance question, I just found engineering to be boring personally. Don’t know about others. Thanks again for the advices.
Turkish Wrote: ------------------------------------------------------- > Actually, there are a ton of other resident > experts much more qualified than me. > > Joe, Numi, Bambi to name a few. > > No charter yet in fact, but I worked in the > industry in a few capacities, Associate in HNW > sales, Associate PM for a CAD equity manager and > structuring closed-end funds. > > My ability to do numerous jager-bombs on a > Thursday night and still make it to my desk by > 7:30am on Friday is easily my greatest skill. thanks for the props Turkish, but you are too modest…you definitely know your stuff too and are an asset to the forum
Thanks Numi. N.Van, I am in TO and you’re correct there are a lot of Candidates/Charterholders…however there remains a great deal of opportunities.
Turkish, Would you say NYC or TO is a better city to get into IB? I have dual citizenship and considering move to NYC as its a bigger financial centre; but that goes without saying that it’s more expensive to live in NYC than TO. Disciple, Not sure about your position. If you are doing financial analysis of any sort it will very useful to you later on when you decide to move to investment sector. Make sure you make up your mind on what are of finance and/or investments you want to get in first and pursue that. There are many areas where you need different skill sets. Take Sales role vs. analyst role for example…much different skill sets as you would imagine. Cheers
I’m not really qualified to give a good answer on that one…it really depends on where you want to work. Let’s put it this way, if my company wanted to transfer me to NYC or a BB called me for some bizarre reason and offered me a job in NYC, I’d already be at the airport. On the other hand, some people enjoy the slower pace, smaller deal flow and relative financial obscurity of TO.
“It is aimed to train new candidates to move up to an associate position within usually 2 years.” That will likely be around 60K (I have a friend who was in HR info in one of the big banks who told me about this type of ‘program’). I doubt there will be any real big bonuses as I didn’t ask her. It looks like a training ground to get your career started there (great opportunity IMO) A Associate will likely be around 70-80K + bonus.
Thanks for all the input guys Offer was of 55K + overtime + annual bonus
Guess 3 letters wins.
You go first : )
Alayle Wrote: ------------------------------------------------------- > Thanks for all the input guys > > Offer was of 55K + overtime + annual bonus not bad at all starting out. I’d take it! If you get time and a half for OT (I do here, I think it’s common) and get roughly 20 hrs OT per week you’ll easily crack 6 digits
CFA_Halifax Wrote: ------------------------------------------------------- > Alayle Wrote: > -------------------------------------------------- > ----- > > Thanks for all the input guys > > > > Offer was of 55K + overtime + annual bonus > > > not bad at all starting out. I’d take it! > > If you get time and a half for OT (I do here, I > think it’s common) and get roughly 20 hrs OT per > week you’ll easily crack 6 digits I do not think I will go about 20h a week OT, but I surely hope for some. OT is based on any time over 8.5H per day. Pay is excellent considering cost of living (not in TO)
Hey Alayle, I am finding I will probably have to start in the assistant role and the money seems ok from what you have been offered (well it’s a pay cut for me but have to do it). Associate and Analyst roles seem to be extremely competitive with MBA and CFA Charter holders taking the jobs (I am L2). Can you tell me a little about what they are looking for (what sort of experience and education do you have)? and was this in TO? Thanks
I’m confused as to what this “assistant” role is…I’ve never heard of OT in research.
I think it’s a Junior Research Analyst…some co.s call it assitant…
N.Van I guess we’re both competing for the Junior Research Analyst role. Lace up the gloves. Keep it clean.
frankarabia… where are you located? I thought you were in TO not VAN, Also I think you have the edge on me as you have your L3 not L2, correct? But not sure about your experience?!!
i’m taking L3 in June. my experience sucks. Discount Brokerage. but i’ll trying to leverage it as a trader.
in addition, I also just passed CAIA L1…
Congrats, you should be alright in getting a junior analyst positing…Are you from Vancouver? How did you find the CAIA? If you don’t mind me asking how old are you?