Unemployed CFAs

Since I am on the precipice of joining you and with no job prospects in sight (this is echoed by my unemployed CFA friends) what are folks doing with their time and how are they looking for employment (if at all!)

no such thing

bigwilly Wrote: ------------------------------------------------------- > no such thing LIES

Any CFA charterholder can get a job, I think it is more they only want the jobs they want not the ones available.

Tough to refute the statement “Any CFA charterholder can get a job!” - similar to “Anyone can get A job at anytime” I know 5+ Charterholders that have been out of work for 12+months - these are guys in their 30’s with 7+ years experience - yes, I guess they could go work for some shop for $80k and take a 65% pay cut

What’s wrong with a $80K base?

ws Wrote: ------------------------------------------------------- > What’s wrong with a $80K base? Geography and experience are big factors in this question. Plus, bonuses are negligible at some companies.

OK, let me reword it. There is nothing wrong with a $80K base when you are out of work.

dmnyc Wrote: ------------------------------------------------------- > Tough to refute the statement “Any CFA > charterholder can get a job!” - similar to “Anyone > can get A job at anytime” > > I know 5+ Charterholders that have been out of > work for 12+months - these are guys in their 30’s > with 7+ years experience - yes, I guess they could > go work for some shop for $80k and take a 65% pay > cut wait so these guys were making ~220k? edit: i’m in my mid to late 20s. I don’t make anywhere near that or anywhere near six figures. I would love to make 80k if I get my charterholder.

I saw some ridiculous survey a while back that showed CFA charterholders made huge salaries easily in 6 figures and often breaking 200K. Of course breaking 200K in NYC is not the same as breaking it in Dallas.

What were these $220k dudes doing prior to their 12mo unemployment? Research, trading, sales, Fidelity?

I think $220k is a summer intern salary at Fidelity so definitely not that company.

juventurd Wrote: ------------------------------------------------------- > Fidelity? +1

i looked around in glassdoor.com PM at SSgA/Putnam/MFS/ Boston Buy-side is mid to high 100s.

BiPolarBoyBoston Wrote: ------------------------------------------------------- > i looked around in glassdoor.com > > PM at SSgA/Putnam/MFS/ Boston Buy-side is mid to > high 100s. Obviously that’s why no one who has any talent works at those companies, they’re all at Fidelity making gazillions.

Hmm converting to Euro I’m still doing cr@p on the salary front :frowning:

Has the thought, that in this business salaries are cyclical, ever crossed your mind?

Are salaries cyclical? Or is it the bonuses that are cyclical or both?

I think that salaries will see a secular trend downward due to 2008. Learned the concept from fixed income L3. Ha. God I remember L3. I must be a classifiable geek.

To be clear - referring to NYC based jobs - guys were primarily doing structured finance transaction work (i.e. securitization as a form of execution) and/or credit risk - So to go from making $200k+ with $75k worth of student loans in NYC to $85k simply isnt an option without completely uprooting one’s life and losing their home (as 2 with mortgages have done) Btw what’s the average age here - in my mid 30’s - other folks around there as well?