Career Advice for CFA
Thanks for looking
Brief CV:
3 years in aFoF
MFin at a top target
CFAcharter
Basically after 3 years at a multi-asset role in aFoFin LND I wanted to switch to direct investing (equity but would also consider infra/RE). Applied to many many places and spoke with several recruiters, all gave the same feedback - no modelling experience.
I thought going back to uni would be a good idea to qualify forSAand grad programs. I have had a couple interviews at boutiqueHFsbut didnt get offers as the fit wasn't right. However I am struggling to get even 1st rounds (test scores arent an issue) at mostBBs,EBsand large AMs.
我遗漏了什么东西?
What advice would you give someone in my position?
Comments (22)
Hi Prospect in AM - Equities, any of these discussions helpful:
More suggestions...
Fingers crossed that one of those helps you.
bump
You need to prove you can do the job.
My read is your background shows you're a very smart guy, but have little relevant work experience to any direct investing role. Yes, test scores, target schools and theCFAcharter are all wonderful to have and demonstrate your focus, capacity and drive....BUT if you have zero relevant work experience, its going to be a risk for any fund to hire you. You need to convince whatever fund you interview with that you can AND want the job.
I suggest two options, the first is to prepare investment pitches with complete models and reach out to firms directly. There are plenty of templates out there, suggest you check out theMBAprogram at Columbia for their template (the school's Graham and Doddsville publication has a few pitches and is in general a must read).Going in with these ideas and your background can demonstrate you can do the job from day 1. Without any ideas to pitch, it's going to be hard to convince anyone you can actually do the job given yourFoFbackground.
The second idea is to do a topMBA(i.e. LBS) and then pivot to the buyside. This would give you a great foundation to push for a direct investment buyside role, and given your background, you should be in good shape.
Best of luck!
thanks telemachus! your response is much appreciated
I suppose I am trying your second suggestion to do anMBA- but went to do an MFin as this is a much more common path than anMBAin LND / EU (associate postMBArecruiting is limited to a handful of US BBs). I thought this path would get me more traction in the AN recruiting for sell-sideERand buy-sideERbut not much so far. Does this handicap me from applying for roles not on a grad/SAprogram?
I have just read through the latest Graham & Doddsville publication and this gives me good inspiration on how to frame stock pitches (I have tried doing my own in the past without any template and found I got mixed responses when I shared it with some people I reached out to). Would this approach also work for sell-sideERroles? (less keen than buy-side but want to get my foot in anywhere)
Yeah pretty tough spot tbh.FoFhas a knack for trapping people, rarely see anyone leave it.
Theoretically you could go back to uni but that's 3 years of lost earnings and about 50k in cash (SFE doesn't finance second degrees). You've already done an MFin.
MBAis potentially an option.
Thinking outside the box, just throwing ideas:
Act like an undergrad and find somewhere to intern that will let you get modelling experience.
Or try to break into sell sideERand move from there.
You might be asking too much by looking to go straight to equity investing, you might need a stepping stone, so think about that.
thanks appreciate the reply
I'm currently doing an MFin and applying for internships but found that as I'm not a penultimtate year student i dont qualify, but then forFTroles or direct roles I dont have the experience so I'm trapped as you said. I dont mind the lost earnings, its annoying but thinking longer term it should hopefully pay off
sell-sideERis an area I have a small network in so will aim to use that to try and get something but its too early to recruit for that considering I'm only available in the summer. Can I ask if you see people apply with pitches/models and any tips when doing so?
Not qualified to answer your last question but I will say that plenty of banks allow "final years" to apply for their summer internships. Probably too late for that info now.
Think you've received really good advice above. Good luck.
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