I was wondering if there were any Monkeys out there that switched from a non-Asset Management role in banking to Asset Management role by passing the level exams of the CFA® and networking through associations. This would be ideal, rather than spending over $100K going to business school to obtain an MBA. If any one out there has successfully done this it'd be great if you shared your story.
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I was able to move from back to mid to front office ER at large asset manager while taking CFA exams. Passing all 3 CFA exams definitely helped but I was able to do it by networking within my company, doing excellent work, and interviewing well. I am pretty sure the CFA was seen as nice to have but if I didn't network successfully, was mediocre at my previous jobs, or didn't interview well I wasn't going to get the job, CFA is a great supplement to show hard work and intelligence but without networking I'd still be in the middle office with or without CFA.
This. You can't use the CFA charter as a crutch. Make the interviewer see it as a cherry on top and not a backup for a bad interview.
I echo this and what HFer_wannabe said. I was able to switch into a credit analyst role at an Insurance company in their AM department. Passing all three levels and getting the charter helped by showing initiative and drive, but networking and keeping your name out there was just as, if not more important. Best of luck.
It definitely helps. I received looks for investing roles after passing level 1. Nothing has materialized yet (on hold while studying for L2).
On the networking piece, I landed my first job in the Investment Management arm of a large bank (think: JPM, GSAM, US Trust) by using the local CFA Society as a networking spot (did not have CFA charter yet, still don't-- taking L2 in June). I showed up in my interview suit at a CFA Research Challenge competition at my alma mater and gave my elevator pitch to all the contest judges, one who was Head of Investment Strategy for the Private Bank. Shortly after, I landed a role as an internal client PM and have since moved to the Manager Research group focusing on managed-account/model portfolio management. It all started with the networking, confident attitude, soft skills.
That's great to here. I just passed L1 in December and am taking L2 in June. I'll be doing a full-court press and then some on the job search starting June 9th.
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