|Topic||what's the chance?|
|What is the chance of getting employeed in a CFA position given that I have absolutedly no previous FA experience other than CFA level One Pass, with Bachelor degree in Electrical Engineering. How much should I expect to get paid? Thanks!|
|haha, I just love these questions: "when all this CFA pain is over how good will my life be?"
Frankly, what answer do you expect to get? "you will be rich!!!" :oD ... or ... "chances are that you will get a job with Goldman within 1.5 months after getting the charter" :oP
How is it going to help you if somebody tells you that he got an indication from two PM's that he'll be hired immediately after he passes Level II? Just go ahead and arrange a few informational interviews with potential employers, ask them directly if they are hiring charterholders. How many did they hire during the last 12 months?
As for the MBA - why don't you go ahead and ask your placement office or your fellow students, they will know if it will be hard or not to get a job after you graduate. Honestly, I would do it before applying to the b-school.
The entry level corp finance position is an analyst. Some modeling and lots of brainless work. Too bad if you have a CFA there, cause you're not going to use it ... Well, maybe you will take your HP12C to every meeting just to show how smart you are...
best of luck
|I hate to say it, but don't be too optimistic.
The CFA is most useful for people already in the business, but sure, you can possibly use it to break into the industry as well. On average, once a person receives his charter you can earn perhaps $100K a year. But in your case, you lack those 3 years of experience so you will have to start at the bottom, i.e. where recent college grads start. I don't think you will get a high-profile CFA job without any FA experience what so ever.
|I have another comment.
From what I have seen so far during my interviews with some investment banks, I am way beyond many of the candidates with my leve 1 CFA candidacy. There are a ton of candidates sit there with a bachelor degree in some non-quantitative subject, but did an internship and get hired before me. Getting an analyst position is not about having super-qualification or the CFA, I've seen guys with Geography degrees who are excellent communicators, teamplayers etc - and the IB firms really value this.
I think it is very naive to believe that all of a sudden IB firms will show interest in you because you have a CFA. Sure, that may help, but ultimately it's about WHO YOU ARE, not what the CFA is. If you haven't got hired during your last ten attempts, chances are that you won't either, with or without your CFA.