all - this is the answer to the question. from JPM351 “It depends on what you want to do. If you want to be in research or investment management, you will be hard pressed showing up with no CFA and a bunch of futures trading experience. Here’s my abbreviated story. Got a job at a bulge bracket in the back office out of school. Absolutely hated it - you get no respect, and despite what they might tell you, there is zero lateral movement out of the back office. Worst part for me, though, was dealing with people making 150k acting like they ran the shop - still makes me want to puke thinking back about it. So I knew trade settlement wasn’t for me - shocker - so I took level I of the CFA, passed, and started thinking about what I wanted to do. More and more, research was on my mind, and I got lucky enough to literally rub elbows with a senior analyst at the company gym a couple times. His associate happened to leave in the ensuing two months after meeting him, he offered me the job, and I was pumped. However, speaking to the bureaucracy of big shops like that, my managers in operations, in addition HR, yes, HR, would not let me move to research. So, with no prospects for another job, I quit on the spot. After taking level 2 that spring, I wrote research, modeled and figured things out the best I could. I sent all my work to bulge brackets - got a couple bites - but everyone just pushed me off because I had no experience. Eventually, I pitched myself into a role at a small research shop and I’m still here three years later covering my own space. I would have never been able to get an offer at the bulge bracket, write my own (clearly immature) research while unemployed, or get my current position without at least passing level II. Life, and most things, are what you make it. For me, even partial completion of the CFA was a game changer. I would still be in the back office hoping for a 100k a year scheduling position like some of the other guys. Hope this gives you some perspective.” having worked in ER for the ~1yr i will say for those without experience it is extremely difficult to even get looked at. Above is THE BEST way to be considered when you have 0 experience, IMO . . . . . SHOW INITIATIVE. actions speak louder than words. saying you want to be in ER and simply sending a resume vs. taking it upon yourself to write a report and model the sector you’re interested in and sending that with you resume is like a racing a hyundai vs. a ferrari
Good post +1
Yes Kudos
Research is very tough to break in. Congrats on the guy making it, but as a note of precaution to others, don’t expect doing this to dramatically increase your chances of making it. The odds are still very much against you without a top education, connections, or experience.
iteracom Wrote: ------------------------------------------------------- > Research is very tough to break in. Congrats on > the guy making it, but as a note of precaution to > others, don’t expect doing this to dramatically > increase your chances of making it. The odds are > still very much against you without a top > education, connections, or experience. +1 but jpm’s attitude and initiative when applied to other candidates will definatley increase their chances against similiar applicants (ie 0 experience)
Yes it will help, but I have never heard of someone landing research with 0 experience (unless it was through on campus recruiting of course) The people that get them usually always have finance experience in something.
i cant believe this thread is down so far. this is the answer i guess no one wants to do the work…what else is new
builders Wrote: ------------------------------------------------------- > i cant believe this thread is down so far. this is > the answer i guess no one wants to do the > work…what else is new Because no one wants to work this hard. They want to hear getting the CFA is good enough.
SuperiorReturn Wrote: ------------------------------------------------------- > builders Wrote: > -------------------------------------------------- > ----- > > i cant believe this thread is down so far. this > is > > the answer i guess no one wants to do the > > work…what else is new > > > Because no one wants to work this hard. > They want to hear getting the CFA is good enough. it isnt.
Cool…Can someone now post a similar story on how to now move from ER to a hedge fund… this is the boat that I am in right now.
You need to redo ur CFA. I have gone through the progra twice now.
Only twice? I did it three times already and still no dice. SuperiorReturn Wrote: ------------------------------------------------------- > You need to redo ur CFA. > I have gone through the progra twice now.