Experienced advice needed...
Good afternoon everyone, I was wondering if someone might be willing to offer some advice regarding my career situation. I currently work in investment/wealth management for BofA as a Portfolio Analyst. My education consists of a finance undergrad (4.0 finance GPA, 3.66 cumulative) from a non-target school and I'm scheduled to sit for level II of the CFA exam this June. I would like to work here for another 2 years while I finish the CFA program and then pursue an analyst position at an investment bank in either Chicago, CA, NY, or TX, put in 2 years, then pursue my MBA from a target (or top 20 most likely). My questions are basically: 1. Should I try for a BB or boutique? 2. What are my chances given my education/experience? 3. Which end of the Ibanking spectrum should I aim for (MS versus not so prestigious)? 4. If you were in my position, how would you reach my goal of becoming an analyst?
I appreciate and respect your opinions. Thanks in advance.
why do u want to go for an analyst role after a couple of years with a previous bank... most analyst in IBD at BB firms come straight from college... I think that would negatively impact your application to a top 5 MBA program... as your career track should show progression not regression. My advice would be to try to get a position at an IBank in the BB or get a position with a PE firm
Given your credentials you would fit perfectly in a Research Role but if you really want to get into banking then you should finish your CFA and then try for that MBA and get in as an associate.
So basically the consensus is to forget about the analyst role (lost opportunity) and try for an associate role. My only skepticism here is that I would be missing out on valuable experience and decreasing the prob. of landing a good associate role and/or getting into a top MBA. If I did try for the MBA, what kind of school do you think I could get into with my experience, future CFA credential, and education?
Thanks
To answer your question cls55amg, I didn't know I would want to get into Ibanking. After reading various posts regarding work life, responsibilities, compensation, prestige, and career progression, I believe the IBD path would better meet my long-term objectives. Also, by implication are you saying that an analyst position at an equally comparable firm to BofA would be a step down from my current portfolio analyst position?
Thanks
Hey Maynard,
I know how you feel. I came from a AM background, and I have my CFA. I will be a first year B-school student at a top 15 school this fall. We are a little different in that I started a business and it failed, but as I was going down in smoke with that, I was looking at analyst positions with PE firms. I realized that the analyst position was not the right move. Everyone pretty much goes back to b-school in finance- sort of a right of passage and another filter through which hiring firms evaluate their incoming job applicants. With all this being said, I recommend making tons of contacts in the IB/PE world as you continue an "associate search", finish your CFA (if you want to... b/c while alot of people I interviewed with were impressed with the cirriculum's rigorous nature, not a ton of people were wowed with how it would help out with required PE job skills), and get ready for b-school. You can come out starting at Associate level and skip the analyst bs.
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