From IT to Equity Analyst
Hi Guys,
I am a software tetser testing the brokerage apps of an Investment bank. During my tenure here I developed an interest in capital markets and finance in general and now trying to move towards this business. I have some gained some brief knowledge about financial markets and capital markets in general. While in India I took up a course called CFA(ICFA) (an equivalent of US CFA) and I have been pursuing it since then. I have completed subjects like Fin. Mgmt, Fin statement Analysis, Equity and Fixed Income valuation, Fin. Market, Quant and Accounting.
I have been trying to change career lines here in US but I have not been getting any calls from employers. I would like to ask if this change is possible or do I need some kind of degreee to make this happen? I am really passionate about company analysis and reports and therefore want to make this change and become a Equity Analyst.
Is the financial services industry open to such people wanting to make a career switch ?
Could someone share some thoughts and guide me in the proper direction.
Thanks Mohit
Start by networking with tech analysts, then do a thorough SEARCH through this site, there's tons of info on moving to FO. Also, consider an MBA: plenty of people work in tech/IT for a few years and then get an MBA to go into finance.
Could also do a research report on an equity company and attach that with your resume. This way you are giving people a feeler of the quality of work you bring to the table.
Or better: do variants of the same report, with different valuations/recommendations. Send them to different firms. Six months later, send a mail to the lucky winner: "Told you so."
Apart from having theoretical knowledge, I haven't got much to do in this sector. But I do have stock picks of my own and reasons for it. I wanted to ask if you have an industry template for a research report? I would like to see one and get an idea of the work life and also put my thoughts into a format ?
Thanks Mohit
Pretty easy to find research reports on the web. On Google type Equity research report filetype:pdf and you should be able to find a plethora of sources.
Ok, I will do that this weeked. Thanks for the info ..
The user "Human" has a great deal of information on this site, look him up: //www.wallstreetoasis.com/blog/human-previous-useful-posts
The switch is possible, but it will take extensive networking effort, continued studies in finance (not necessarily via MBA), and you'll need to consider roles that offer transferable skills or industry knowledge---obtaining your dream ER gig will not happen right away.
Plan accordingly and you will succeed. Best of luck.
Hi Passant,
I do not have much connections in the field of finance. Do you think stalking people on linked in having profiles I aspire for and mailing/ calling them directly would work .? Thats the only way, I could network I believe. Not sure if there are equity groups that holds meets up etc.
About the study part do you have any specific certifications or courses in mind thatI could do to break into this field ..? Or getting hold of an analyst and trying to learn things from his day to day activities would do justice ..?
Thanks Mohit
Yes, cold email and cold call like crazy. Expect rejections, but try hard to build relationships. And, learn more about the area of finance that interests you---what employers are looking for, industry news, etc.
As far as courses, you mention you're enrolled in the CFA/ICFA Program. Continue building your knowledge there. There are also many Analyst Societies in big cities, they offer courses and networking functions. As you learn more about your career, you'll have a better understanding of courses/books you may want to study. (I'm not a proponent of the MBA in today's world)
Keep in mind, you're not just looking for a job, you're building a successful career. Invest in yourself and pursue opportunities that will develop skills relevant to ER. It may take time, but the switch is possible--you're not trying to work for NASA.
It's doable. I came from IT background and have worked up the ranks to senior analyst. What technologies do you work with? What hardware platforms do you work on? Extract what you've worked with and what you understand very well, figure out who makes those tools/products, go to their IR website, and start cold emailing all of the analysts with your opinion on the tech.
Hi Effer,
So now I know I have precedence. Well, manual software testing is more about the applications and less about software and hardware stuff. The thing that motivated me to learn about markets and investments was the application and the trading projects that I worked upon. I have worked on brokerage apps of "Fidelity" here and worked on various trade offerings of it. That knowledge is the only take-away for me from here to the finance world if ever I become a Equity Analyst. Like you said emailing and cold calling people in here; I am trying to do that .. matter of time when I get a good lead
Thanks Mohit
Study for and get your Series 7. That's what I've seen IT people do in several large firms.
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