small rant
The series exams in this industry bring no value to anyone's career nor is performance on the exams an indicator of your performance in the industry.
Looking at other industries (like accounting) a CPA brings actual credibility to a person where as 99% of people in IB don't even list their completed series exams on their resume.
It's frustrating to see so much time wasted on frivolous BS by analysts trying to check a box.
One of two things needs to happen in my opinion either make the intro testing something useful like a CFA level 1 or just make all analysts go to some sort of compliance training where they learn about ethics and rules. (That's what it's all about anyway).
I genuinely don't understand what the series exams accomplish.
What brought this to mind was this WSJ article highlighting how many people fail these things. In my opinion it is just industry apathy toward these exams that are useless and have no benefit to the industry. People think they are a joke (they are) subsequently don't pass and then retake and no one cares or blinks.
No one has ever decided to have stronger ethics or morals because these series exams enlightened them to niche rules.
<p>Stockbrokers Who Fail Test Have Checkered Records - WSJ <a href="https://online.wsj.com/article/SB10001424052702304819004579489754292756262.html" rel="nofollow">https://online.wsj.com/article/SB1000142405270230…</a></p>
I disagree with this first part-- exams like the series 7/79 are great intros to basic levels of your job in investment banking.
Did you even read your own article? Here's the text from the graphic at the top, you don't even have to log in to read it:
"Red flags of all types were more likely for those who failed the exam three or more times"
Depending on your bank, some of these red flags will not only end up with you being terminated but it'll effectively blacklist you from working with any credible firm.
1. Sounds like you're ranting because you failed, not because of a WSJ article - just my take.
2. Never rant about an article from a random journalist in the first place, not worth the energy.
If you want a cohesively regulated industry where the assets are human capital, you have to have exams like this. Even if they don't do much for you at all and it could be just for optics, they are nonetheless going to be instituted.
Omnis doloremque possimus sequi quo ipsam. Quo sed occaecati reiciendis dolorum iste qui perferendis numquam. Doloremque saepe perspiciatis eius sed est.
Saepe nulla enim repellendus consequatur magnam eius voluptatum. Eaque odit sed quidem accusamus dicta id veritatis qui. Et ipsam quia sit non.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...