I'm stuck and need guidance
I am hoping this discussion will help shed some light for me to uncover the best path to take. I'm currently 26 and graduated back in '19 with a business degree. Landed a sales role and from there got promoted -> Moved around and landed a Product Manager role with the same company. Now I'm @ Schwab in a call center role chatting with financial advisors.
I'd like to get into equity research/analyst role with top financial firms such as GS, JPM, MS, etc. or really boutique firms to gain experience. For someone who doesn't have finance experience/background, I'm trying to decide whether I should study for the CFA level 1, pass it so I get a little boost on my resume to get at least interviews and gain financial knowledge to apply in the real world or should I get my MBA - study hard and network like crazy - I don't think I'll make it to a target school - probably somewhere in Florida such as UCF/UF/FIU or who knows online at a decent university.
I don't mind getting an MBA in the future but need advice whether to study now for CFA level 1 to get an entry level role with boutique firms then get my MBA or completely cross out CFA and just get my MBA.
I'm stressed fyi lol but I appreciate everyone's feedback and don't be afraid to be honest. Thank you!
I think it would be better if you figured out stuff you liked and didn't like rather than saying you want to do research at a BB/EB. I'm not telling you that research at one of those is impossible but unless you CFA into a good MBA it could prove exceedingly challenging even then.
With your background I'd go external wholesaling or something at a Fidelty/Schwab/Capital.
wow bro they say you can't use CFA as a noun, but you used it as a VERB!!!! Impressive.
Online MBA programs and T100 or unranked programs are usually trash and just a cash grab. Check closely on their placement rates. Maybe some of the lower ranked programs do well regionally.
What was your GPA?
My advice would be to use the MBA as a backup plan here. By this I don’t mean it’s not out of the question.
What you need to do it a) take the SIE and pass it (2 weeks max) b) buy GRE study materials and grind like crazy in your free time to get the highest possible score —> good MBA program c) while you’re trying to study for the GRE you should definitely be networking in ER. By this I mean focus on some sectors that you’re interested . Write a few solid stock pitches (industry specific and build out models). When you send networking emails to DORs / analyst / etc attach them and ask if you could get feedback.
Do this until you can get a good enough GRE score. Apply to MBA programs and see if any good programs admit you (might have to try 2-3 cycles but don’t waste money on a mid program).
By this point and time you might land a decent ER offer and don’t have to go the MBA route or you land into a good MBA (or not).
GPA was like 2.9 - I honestly slacked off just getting by in college which was entirely a stupid thing to do and now regretting what I did. Looking back if I worked hard the outcome could’ve been different. I’m dealing with the repercussion now but now trying to get it together so when I’m 30 I can tell myself “that effort was all worth it”
Wow bro 2.9??? Yeah maybe an MBA is not for you. Your work experience is not that great and you’d have to get a 760 or 780+ GMAT to offset that GPA. Unless you went to a really crappy MBA program, which is not recommended. You might give the CFA exams a shot, but they are not a walk in the park and if you’ve never studied hard before I think they will be extremely difficult for you. Good luck.
PS - I’m not trying to be super harsh - just trying to be realistic here.
Also, with pitch decks. Since I don’t have financial knowledge. Which study materials would you suggest I should start utilizing to up my knowledge. I appreciate your feedback, thank you
Maybe you can stat pad the GPA? Ideally as cheap as possible… take some courses at your old uni online?
I’d call up some admissions people at some top MBAs and ask for their thoughts. Don’t have an MBA so dunno.
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