Is it worth continuing the CFA to break into Canadian IB?
Hi all, I'm an incoming MBA student at Rotman looking to pivot into IB in Canada. From what I've read and heard, I understand that it'll be an uphill battle given the increasingly limited spots in Canada at the MBA level, and that the US would be more ideal. That said, I'm an international student so the potential visa issues down the road have led me to avoid the US for now.
Since I'd be competing for very limited spots in Canada, I want to be sure that I'm not missing out anything else that's important in my recruiting strategy apart from networking and honing my technicals. To my understanding, the CFA is generally more important for Asset Management / Research / Trading sort of roles but I noticed that a lot of bankers in Canada, including those who broke into the industry at the MBA level, seem to have done at least level 1 or 2 when they were recruiting.
I've already passed Level 1 last year. Would it be worth spending the time to continue with Level 2 before school starts in the fall? Curious to get people's thoughts on this. Thank you!
Only try hards pursue CFA. Utterly useless designation that has no utility in IB. Save your time and focus on networking. Assuming you are a straight male, you are fighting for less than 10 spots across the street excluding DEI.
Wow didn’t realize Canadian IB at the associate level is that tough
Scarcity of lucrative exit opps leads to little A&A turnover resulting in only a handful of MBA spots. Out these 10-15 spots, ~50% are reserved for DEI (mainly women) given this nepotism / DEI evil is far more potent in Canada vs US due to liberal disposition
Based on the most helpful WSO content, the CFA designation is not typically a game-changer for breaking into Investment Banking (IB) in Canada, especially at the MBA level. While many Canadian bankers may have completed Level 1 or 2, it's often seen as a "nice-to-have" rather than a "must-have." The general consensus is that the CFA is more relevant for roles in Asset Management, Research, or Trading, rather than IB.
For your specific situation as an incoming MBA student at Rotman, your time would likely be better spent focusing on networking and excelling in your MBA program. Networking is critical in the Canadian IB landscape, especially given the limited spots available. Additionally, honing your technical skills and preparing for interviews should take priority over pursuing further CFA levels.
One key insight from WSO threads is that the first half of the MBA program is extremely demanding, with networking and maintaining strong grades being crucial. Adding CFA Level 2 preparation on top of this could stretch you too thin and may not yield a significant return on investment for IB recruiting.
In summary: - The CFA is not essential for IB in Canada, though it can be a minor differentiator. - Focus on networking, technical skills, and academic performance during your MBA. - If you have extra time before school starts, consider using it to build relationships or enhance your financial modeling skills rather than pursuing CFA Level 2.
For more insights, you can explore this thread: https://www.wallstreetoasis.com/forum/investment-banking/why-canadians-…</a">Why Canadians get an MBA AND the CFA.
Sources: Why Canadians get an MBA AND the CFA, Why Canadians get an MBA AND the CFA, Does having the CFA help for MBA admission?, Here are the Target Undergraduate Schools in Canada, Brief Introduction to Banking Recruiting at the MBA Level
CFA is useless
Zero value. Focus on the case competitions, networking, and your grades
Wait a minute, they check your grades at Rotman mba? So not only do you go to a school with less opportunities compared to a top 20 MBA program in the US, but you have to be at the top 1% of your class to even get a chance at an interview in this market? Wow…
Mollitia officiis doloremque earum et sunt quisquam possimus fugit. Blanditiis temporibus dolor omnis ab quis. Quis incidunt molestiae officiis delectus aut dolorem rerum.
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...