Should I just… find a job?
My goal is to get into Asset Management/equity research/investment management, preferably on the buyside, but I’ll take anything on either side. In order to accomplish this goal, I got admitted to some MSF programs. However, now that I’m looking at the price tags, I’m asking myself, “Do I need this to find the job that I want, or can I do it on my own?”
You guys probably think I’m a total idiot for not even trying to find a job before I applied to the MSF programs, but here are my reasons for not trying in the first place: 1) I went to a non-target, state school that is much better known for agriculture than anything else. 2) For the past two years I’ve worked as a state regulator for small, community banks. (I guess I could spin this experience to say that I analyze financial statements for risk everyday, which I do actually do.) 3) I was an econ major and only took one class in finance. The professor sucked ass, and I don’t really remember anything. So since I know nothing about finance, my biggest fear in an interview (if I could even get one) is that they’d ask me an easy, basic technical question, and I’d shit in my pants. 4) I have absolutely no network to speak of.
Since I just got accepted into some MSFs, I guess I’m getting slightly more confident in my resume. So what do you guys think? Is it likely that I can find a job in this field on my own, or should I continue down the road I’m on now and get the MSF?
I think you can do it on your own, though it will take a while. The MSF will get you some interviews, but it's an expensive route to go.
CFA program would probably be a decent fit for you. It helped me get a job in asset mgmt. You'll get the same material as an MSF program and it's going to be cheaper to figure out if you actually like doing it. If you get involved with it, it can help you build a network.
The bank regulatory stuff would fit in well with a small-cap oriented shop. Small cap is full of regional banks and boutique firms usually don't have a lot of depth in financial services, since it's a much more specialized skillset.
I'd guess that you probably have some compliance/trading restrictions at work, so I'd recommend starting a paper research portfolio and writing up stocks/ideas. If you choose to focus on a single industry, it will help to do it long-short. Track the stocks, figure out if/where your thesis went right or wrong. Just be able to talk about successes and mistakes, what you learned, and demonstrate your passion for it.
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