^^^What the hell are you talking about man! Where are you living? “You start as an associate after an MBA”? What makes you think you are able to create deal flow at an associate level when you couldn’t even get a job after getting your first MBA?
strange that with corporate finance experience and still you cant break into IB…i dont see how another MBA can help
Mason88 Wrote: ------------------------------------------------------- > ^^^What the hell are you talking about man! Where > are you living? > “You start as an associate after an MBA”? What > makes you think you are able to create deal flow > at an associate level when you couldn’t even get a > job after getting your first MBA? Dude - he didn’t go to target school for his first MBA. Now he wants to go to target school so he can land a gig at IB. Obviously, he is not going to tell to his future employer about his first worthless MBA.
Ok, all people said here makes sense. I actually don’t have too much committment to do that. But in terms of age, I think it is still not too late, if I didn’t have first MBA. I mean, when I was in my first MBA, I was nearly the youngest with some folks in my class 10 years old than me, and they didn’t work in IB before MBA and land a finance job is one option for them as well. The thing is, really, the type of committment and determination.
CFABoston, A couple things: (1)You: “Obviously, he is not going to tell to his future employer about his first worthless MBA”. Coming from an aspiring CFA is a sad commentary (2), this guy WILL NOT get into a Top MBA. If he applies to say, Stanford, he is required to submit his current and previous GMAT scores from the GMAC (The org that administers the test) which directly sends it to the school. (This guy should know this). If you get an interview at the Top Program, Now, you have to explain and basically lie to the program director assuming the top MBA program doesn’t have the resources to figure out that you began a previous MBA program (By the way, top programs do not admit people who already have an MBA). Getting away with these “web of lies” is futile, and may even jeopardize your chances of getting a CFA. I said my peace.
As you can see by the reaction on the board, the 2nd MBA will not help you. The CFA might. Just out of curiosity, why so obsessed with IB? IB is great when you are a kid b/c its the fastest track to a decent paycheck; once you have experience and a some contacts, even a low level executive at a company makes just as much with half the hours. Basically what I am saying is, at 22 there is no other way to make $100k straight out of school; but at 30 there are tons of ways to smash that. Within finance, IB does not pay the highest btw. CFA did a survey recently (posted on their main site) about how finance jobs pay. The highest paid was portfolio manager. Granted, no one starts as a PM straight out of school, but it does tend to be an older, more experienced and more diverse crowd than IB and they generally do not work you to the bone like they do in IB. IB is great when you are starting out, not so great once you cross 30. As was stated above, I know alot of people who literally carved their way into IB - and within two years jumped ship for something else. One kid I knew was hard working, nice guy, and fairly smart - they ground him into dust; he couldnt even speak straight when I last visited him. He did 1 year as an analyst at a bb IB firm and bailed. With an engineering background - ever thought of VC in the Valley? Would have actually been my first thought if I was you.
I think you should go for a second CFA designation!
KTE Wrote: ------------------------------------------------------- > I think you should go for a second CFA > designation! this may some merit. when the CFA program started they were giving it away to anyone who could spell finance. even only a few years ago the exam was much easier. some of the veterans i work with have a CFA designation but i bet they couldnt pass it if they took it now.
even only a few years ago the exam was much easier. That’s an statement worthy of discussion. With CFAI’s global outreach, there’s no way that they have not dumbed down the exams. I think the toughest period, at least for grading, was in the mid-to late 1990’s when the exam volumes were rising fast but Level II and III were still all essay. CFAI cared then how many people they let through. They clearly don’t now.
So let’s start a new designation. I’m already pursuing my Certified Divorce Financial Analyst designation
this is so true, I was looking at historical pass rates and they used to be much higher than now. In the early 200s, the L3 pass rate actually hit 84% one year… I know several older charter holders, there is no way they could pass thing now. I know because they came over to peer over my shoulder while I was studying and got a number of things wrong. Basically, by setting the filter to be more difficult now, we make them look good. It is actually not them building the CFA designation’s prestige - it is the last 5 years or so of candidates plus ourselves. In some ways the CFA is like a giant ponzi scheme; mind you though, once I pass it, I will be the first demanding CFAI make it more difficult. I’m tempted to start sending in questions now actually…
dracop Wrote: ------------------------------------------------------- > this is so true, I was looking at historical pass > rates and they used to be much higher than now. In > the early 200s, the L3 pass rate actually hit 84% > one year… That’s probably because the quality of exam takers were better i.e. higher percentage working in the industry.