From Middle Office to ER

I have recently started a role as a Product Controller at a BB coming from a non-target school. Planning to take the CFA level I exam in June. My questions are :-

1) Will passing the CFA level I exam help me break into ER at a BB as a 1st Year Research Associate?
2) With 6 months PC experience + CFA Level II candidacy, what front-office or consulting roles would i realistically have a shot at?

Thanks in advance for anyone who gives any input!

 

You stole my question.

I posted a thread here a little over a year ago about going from F500 finance rotation-->CFA-->ER in your sector of expertise and quite a few people said I had a plausible game plan. My new question is:

How plausible would it be to go from Operations-->CFA-->ER covering banks?

I don't think it really sounds all that crazy, because Operations guys actually get a good feel for how money actually flows throughout the bank and are familiar on how things work from the inside out.

Competition is a sin. -John D. Rockefeller
 
Best Response
Hooked on LEAPS:
You stole my question.

I posted a thread here a little over a year ago about going from F500 finance rotation-->CFA-->ER in your sector of expertise and quite a few people said I had a plausible game plan. My new question is:

How plausible would it be to go from Operations-->CFA-->ER covering banks?

I don't think it really sounds all that crazy, because Operations guys actually get a good feel for how money actually flows throughout the bank and are familiar on how things work from the inside out.

Wrong wrong wrong. Stop thinking the CFA and some junior level administrative work is going to make you and industry expert.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 
Flake:
Hooked on LEAPS:
You stole my question.

I posted a thread here a little over a year ago about going from F500 finance rotation-->CFA-->ER in your sector of expertise and quite a few people said I had a plausible game plan. My new question is:

How plausible would it be to go from Operations-->CFA-->ER covering banks?

I don't think it really sounds all that crazy, because Operations guys actually get a good feel for how money actually flows throughout the bank and are familiar on how things work from the inside out.

Wrong wrong wrong. Stop thinking the CFA and some junior level administrative work is going to make you and industry expert.

*an

Sorry, had to

Hey, you're inside the bank, now network.

Get busy living
 
Flake:
Hooked on LEAPS:
You stole my question.

I posted a thread here a little over a year ago about going from F500 finance rotation-->CFA-->ER in your sector of expertise and quite a few people said I had a plausible game plan. My new question is:

How plausible would it be to go from Operations-->CFA-->ER covering banks?

I don't think it really sounds all that crazy, because Operations guys actually get a good feel for how money actually flows throughout the bank and are familiar on how things work from the inside out.

Wrong wrong wrong. Stop thinking the CFA and some junior level administrative work is going to make you and industry expert.

I didn't say it was gonna make you, but I think someone with some sales skills and networking skills could spin a story out of it.

Competition is a sin. -John D. Rockefeller
 

CFA level one will slightly help. After that it will become useless in breaking into entry level.

It helps because they glance at your resume and at least know you know the basics of accounting/corp finance.

If you majored in finance at a target then it does not matter.

Rest, simply read the two guys above, better off networking. Also CFA level 1 + ops = tough to get to a BB, you would have a significantly easier time at a smaller shop.

 
WallStreetPlayboys:
CFA level one will slightly help. After that it will become useless in breaking into entry level.

It helps because they glance at your resume and at least know you know the basics of accounting/corp finance.

If you majored in finance at a target then it does not matter.

Rest, simply read the two guys above, better off networking. Also CFA level 1 + ops = tough to get to a BB, you would have a significantly easier time at a smaller shop.

Why would passing level 2 or 3 be useless? It's not like it's going to suddenly make you overqualified.

 
reformed:
WallStreetPlayboys:
CFA level one will slightly help. After that it will become useless in breaking into entry level.

It helps because they glance at your resume and at least know you know the basics of accounting/corp finance.

If you majored in finance at a target then it does not matter.

Rest, simply read the two guys above, better off networking. Also CFA level 1 + ops = tough to get to a BB, you would have a significantly easier time at a smaller shop.

Why would passing level 2 or 3 be useless? It's not like it's going to suddenly make you overqualified.

Because if you can't get in now you sure as fuck won't get in 2-3 years later after you sit for level 3. Even as a precious CFA. The longer you wait and put all your eggs into that one basket the harder it will be.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

Flake has this right.

Basically, if you're passing CFA level one you're likely in the low twenties range. This means you can leverage the fact that banks "know" you understand the three financial statements and valuation.

If you can't get in after passing level one, it means your networking skills are weak and also it raises an eye brow "why couldn't he get in the past year or two? Is he serious?"

Corporate finance (real corporate finance like M&A team at a major company) you have a lot of transferable skills already so it is much less about "does he know the job" and more "can he do the job". "Can he do the job" usually warrants interviews, where both questions combined make it tough to bother with an interview.

In terms of internally jumping around also won't comment only have experience with IB/ER/S&T/HF/PE/MutFun recruiting.

 

Take this with a grain of salt, but this is what research told me. Granted these were VP's that started their careers in leveraged finance and another ibanking division.

1). You're internal, so that's a leg up (a lot of places have/had hiring restrictions and wouldn't hire externally- too risky). 2). Develop an in-depth knowledge for a specific sector. Learn the comps inside out, the models, etc. Prepare a SWAT analysis that details the top and bottom line growth and why (I'm assuming they'll have you pitch this to an analyst in that sector. Probably only to a. tear about your thesis, or b. push your buttons). 3). Sit for level 1 at minimum. A lot of banks require their analyst analyst to atleast take level 1. They may have been blowing smoke up my ass, idk. 4). Crush your current job. This is a bit of an anomaly, as when it came time my group wouldn't release me. 5). Be prepared for rejection.

I wasn't able to convert and actually left my BB. Drop me a PM if you have further q's.

I'm on the pursuit of happiness and I know everything that shine ain't always gonna be gold. I'll be fine once I get it
 

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