I am in IT. I took the L1 exam because I am kind of bored in what I’m doing right now and have always been interested in Finance. Do you think that it worths to go on with L2 if I pass or get a job in the industry first, or just stuck with my job due to this economy (IT seems to be more stable right now).
I am in IT Operations and Strategy. I took this exam because Finance (Buy side Equity research) is the field that I want to step in now. Although I work in a Technology Dept of a leading financial services company, I believe getting a CFA (all three levels) would help me make a swift move from IT to Front Office.
i am in the industry (sort of) but current work experience does not count towards charter.
If I were you… I would stick to my IT job now… especially due to the market conditions and more 180,000+ ppl in the NYC market looking for Finance positions. I would wait and finish all three levels (atleast 2) and let the dust settle down in a year or so (possibly). If the market shoots up, there will be numerous opportunities in the market and then you can tap the right one. If you are desperate about moving to Finance right away… look for a job as an analyst in a leading consulting firm Deloitte… such that you can use IT & Finance both.
Ive been doing SAP for 10 years and ready for a career change. Figured the 2 Master degrees plus a L1 pass at least gets my foot in the door for a look.
jlive1975 Wrote: ------------------------------------------------------- > Ive been doing SAP for 10 years and ready for a > career change. Figured the 2 Master degrees plus a > L1 pass at least gets my foot in the door for a > look. Another thing to consider is whether you are willing to take a big pay cut for an entry level financial analyst job. I assume that you are making big bucks doing SAP. I’m also making pretty good money right now.
I am an actuarial student right now, trying to double fist with the actuarial exams and CFA exams at the same time (which everyone tells me is crazy, but I’m crazy so it’s ok). I would like to move into more of an investment position, some in portfolio management eventually; I feel that taking the CFAs will help me get to that long term goal. But job switching at this time is a huge no-no. As for pay cuts… Anyone know what entry level financial analysts make? I google’d a poll and it was around 50k, not much, a little depressing actually.
sunnyrollen Wrote: ------------------------------------------------------- > If I were you… I would stick to my IT job now… > especially due to the market conditions and more > 180,000+ ppl in the NYC market looking for Finance > positions. > > I would wait and finish all three levels (atleast > 2) and let the dust settle down in a year or so > (possibly). If the market shoots up, there will be > numerous opportunities in the market and then you > can tap the right one. > > If you are desperate about moving to Finance right > away… look for a job as an analyst in a leading > consulting firm Deloitte… such that you can use > IT & Finance both. Thanks for your advise. Most of my friends think that I’m crazy spending so much time doing this in this kind of market, especially I have been in IT for 10 years after Graduate school (so you know I’m very old compared to others). I am still debating…
I sat next to a lady on Sat who is a business journalist – I thought that was interesting…
Me… 
I’m auditing financial services companies…so I’m kind of in the industry, but trying to get more into it. My firm does valuation for M&A, where I want to get in, and they require their people to get CFA. So I’m hoping CFA will help me to get into that department.
fin reporting and tax manager for an ibank. not investment related but my clients are hedge funds. accounting/tax is nothing more than a cure for insomnia to me - i hate it that much, but im happy to have a reasonably well paid job given current conditions so wont be going anywhere tell i at least get through lvl 2…
veggiebun…was that you in Montreal section G?
CFA=NOLIFE Wrote: ------------------------------------------------------- > I’m auditing financial services companies…so I’m > kind of in the industry, but trying to get more > into it. My firm does valuation for M&A, where I > want to get in, and they require their people to > get CFA. So I’m hoping CFA will help me to get > into that department. CFA-NOLIFE, could we possibly talk offline sometime. im in the same industry as you.
i always thought it is those people who want to work in finance who take the exams. The people already in investment and fund management don’t consider CFA important. Not many investment bankers have CFA.
wake2000 Wrote: ------------------------------------------------------- > CFA=NOLIFE Wrote: > -------------------------------------------------- > ----- > > I’m auditing financial services companies…so > I’m > > kind of in the industry, but trying to get more > > into it. My firm does valuation for M&A, where > I > > want to get in, and they require their people > to > > get CFA. So I’m hoping CFA will help me to get > > into that department. > > > CFA-NOLIFE, could we possibly talk offline > sometime. im in the same industry as you. if you can find my email address in one of the forums… ok i’ll make it easy: ymarasanov@gmail.com
shakespeare Wrote: ------------------------------------------------------- > veggiebun…was that you in Montreal section G? Nope. Haven’t been to Montreal before. 
I’m taking a crack at Level 1 in June after spending 5 yrs in various PR/marketing roles in asset management and investment banking. It’s definitely a stretch but figure it’s worth a shot. Worst case is I fail but have a better understanding of things as a result of studying. Does anyone know what the typical starting salary is for entry level analyst positions, plus bonus? I would definitely be taking a short-term pay cut if I go through w/ this and pass, but just wondering. Thanks.
Rangers81 Wrote: ------------------------------------------------------- > > Does anyone know what the typical starting salary > is for entry level analyst positions, plus bonus? > I would definitely be taking a short-term pay cut > if I go through w/ this and pass, but just > wondering. Thanks. I would like to know that too. I think it would be easier to transfer internally within the company without getting much pay cut. I work in IT dept for a mortgage servicing company, so I have to look outside. Jlive, how about you?
I don’t know what the starting ranges are and it will vary by city of course. I do know that while I expect a pay cut, I also have mouths to feed so financially, the switch may not be possible.