AuthorTopic: Need advice for an entry level job
@2006-05-10 11:31:48
Should I take an entry level job that isn't something I necessarily want to do forever?

I will probably be offered a job from a major bank that is basically a portfolio manager assistant. The portfolio manager is in charge of asset allocation for HNW clients, choosing outside money managers and mutual funds for each asset class, and monitoring those managers. He basically invests in outside managers, instead of investments.

What I would really like to be is analyzing investments for a hedge fund or mutual fund. Would this assistant job be a good start to eventually do what I'd really like? I basically have no work experience.

@2006-05-10 22:06:00
Depends on if you even have a fighting chance to get those 'dream jobs' of yours. i'm assuming you're not in that position yet, so i would definitely take the job that is offered to you. #1 it is work experience that counts toward CFA designation #2 you're working in the industry and therefor will get your feet wet #3 it will be beneficial to have on resume when you finally get a chance to apply for the job you're really aiming for.

i know too many people who wait on the sidelines for their dream jobs and end up doing nothing.
@2006-05-11 16:19:23
I don't know that hedge funds or mutual funds hire front office folks straight out of undergrad, but I could be wrong. The position you are anticipating the ofer for is a good job. I'd say take it, get the experience, work on your CFA, and position yourself for business school in a few years.
@2006-05-12 09:20:22
It's a portfolio analyst position, they said it will pay in the mid 40s, with bonuses, so I assume it will be about $50k/yr. I'm not concerned about salary though, just as long as it has to do with investments. Whcih btw, they said that the work has nothing to do with the CFA Charter since it's analyzing managers instead of investments. However, they still say the CFA is important becuase it's like a "driver's license" in the industry. Meaning you don't need a driver's license to know how to drive, but you do for people to let you drive.

CFA Discussion Topic: Need advice for an entry level job

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I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!