Applying for IB without knowing much about finance/IB?
My undergrad major is Actuarial Science, so I don't know a lot of stuff in business/finance (tho I just got my CFA Level 1 books today and the entire volume 1 I've already learned from actuarial exams... don't know about the other volumes yet tho)
Would it be reasonable/practical to be still applying for IB jobs?
ie: would boutique IB firms disqualify me on lack of current knowledge, or would they still give me a chance since I have proven ability to pass exams and solid analytical skills?
You can get into IB without much finance knowledge. You CANT get into IB not knowing what IB is and does. Learn what IB does and why you want to do that and the rest can be taught.
I'm learning via CFA L1, hopefully that'll show my commitment... especially since I had to do contract programming to get the funds for the exam :)
You can definitely break into banking without a prior finance BACKGROUND, but you still have to have finance KNOWLEDGE. I recruited for FT IBD jobs with no prior finance background, yet I was still expected to nail the technical questions. You probably won't be grilled as much, but you still have to do your homework and brush up on accounting, valuation, etc.
"Applying for IB without knowing much about finance/IB? "
Sorry, misunderstood your IB understanding.
I would start emailing and calling boutique places around where you live. Check here for a list of all the small shops in your area:
http://www.wallstreetoasis.com/forums/regional-boutiques?page=1
Also, check out this site
http://philadelphia.bizjournals.com/philadelphia/
(Just change the city to the one nearest you. You can purchase a "book of lists" when basically lists every bank, contact number, etc. Most school career places will have it. This will give you a comprehensive listing of everything in your area.
Who are these shysters pushing the CFA exams on people? Honestly no one cares about the CFA. If you nail the technical questions and sound like you know what you're talking about, then people will get convinced that you can do the work. To paraphrase Will Hunting, you can get that level of knowledge for $1.85 in late fees at the library. Absolutely zero need to spend $$$ on CFA exams.
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