Hi this is Yashwanth from Chennai.I am a Software Quality Engineer in an IT company.Will CFA L1 be a good option for me to migrate to financial services.As an entry level candidate what will be my fate,is getting a job with L1 will work fine?If not any other suggesions will be helpful.
Hi Yashwanth, the answer is most likely no.
“Could you please help me out by saying the best possible way for me to shift to financial services”.
You’re going to have to network. Find a way to meet people in the industry and make the move that way. It takes time to transition your network from Software Engineers to Financial Services professionals, but that’s the best way to make the transition. The CFA will helpful, but not sufficient by itself.
MBA at a top notch Uni!
Thank You Jonney.
If you can afford it maybe. I wouldn’t consider this until I’ve networked my butt of first though. There’s no need to waste all that money when you could maybe get a job by having good rapport with somone and buying them a few drinks.
Just my 2 cents…
I’d love to do a part time MBA… full time if I can get in… Sure there are NPV and opportunity costs and whatever but for me it’s the intangible assets… this is what gets my attention. Hard to quantify intangible assets because people value different things differently. If the OP can get in to a top MBA program, go for it. I don’t think it’s waste of money.
A full time MBA’s opportunity cost drops significantly if you are unemployed. If jobless, you’re out about $120k
If you have a job, and you quit just to do the MBA, you’re going to be out $250k. If you have a six figure paying job, your real cost goes to $340k
I’m sure most people know how to come up with those numbers but thanks iteracom. For some people I think it’s what they get after their MBA program… not just the increase in their salary or bonues or getting a promotion (although it would be very nice) but the intangibles. It’s not my 2cents or my opinion, it’s what people with an MBA told me.
Yashwanth,
your question - will L1 help you get entry level in fin services? Yes
I can’t say it would help you with Goldman and the like, but no question you might be a good fit for some backoffice type work in smaller type of firm - maybe an advisory firm.
I doubt that’s what he wanted.
Alternatively, you could try to get an IT role in a financial services firm, which would give you some exposure to the investment industry and would allow you to network and possibly move into an investment role.
reminds me of the saying, “want in one hand, shit in the other, and see which fills up first.”
Generally speaking, people do not make lateral moves when switching between specialized fields like IT and finance. And if they are technical people, they should have no problem understanding why that would be the case - so maybe it is what he wanted.
Level 1 helps with entry level positions in that it shows a commitment beyond a college degree. I wouldn’t give it much more than that on a resume.