Charles Schwab Broker Trainee.. to Asset Management?

Wasn't sure whether to post this under AM or HF, but here goes:

I'm a senior this year in the honors program of a big state university in AZ. I have a 3.7 GPA and plenty of great EC's.. started a community service club, interned with the Department of Homeland Security for 2 years, spent a semester studying in Italy (Milan). I'll be graduating this spring with a double major in Finance and Management.

My career objectives have changed a lot since I began school.. and I have settled on Asset Management. Specifically, I would like to get into Hedge Fund work (analyst/research, and eventually management). However, the school I'm going to isn't exactly a target. Also, unfortunately, I haven't had any practical experience in financial services at all at this point.

However, I do have an opportunity to begin working for Charles Schwab Bank this winter as a Broker Trainee. I am aware that the work will be mostly retail sales.. but I will at least be in the industry, have my 7 and 63 licenses, and some exposure to the investing world. I will also have several months of experience by the time I graduate in May.

My question is this: Will I be wasting my time at Schwab, or will the skills/experience gained be beneficial to me when trying to break into AM? I need to have an answer for schwab within the next few weeks.. thanks in advance.

P.S.- I'm studying for CFA level one in December as well.


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Comments (12)

Aug 26, 2012 - 10:56pm

You're doing quite a lot. If you can network to simply meet some HF people, ignoring what everyone on WSO thinks, you'll do well with that background.

I know a number of HF people who are expanding out, so just pm me when you're finished and perhaps we can chat about it.

Aug 26, 2012 - 11:09pm

try to get the 65 while youre at it, you pretty much already know the stuff and it will open more doors.

If the glove don't fit, you must acquit!
Aug 27, 2012 - 10:02am

If there are funds or any IB boutiques based in your region and assuming you can handle the load, you should just reach out to these places and offer to work for them for free during the school year. Not sure about AZ but this works in places like New York. Just put as much on the table as possible and try to convince them that it's worth taking a chance on you. At the junior level it's incredible how much comes down to motivation and attitude.

PM me if you have questions.

Aug 27, 2012 - 3:00pm

Thanks for the feedback guys. I'll do some networking in my area and see what I can dig up.
Tuzki- I have motivation and attitude in spades, but no experience to show. I'm hoping someone will take a chance on that :).
G.M.- I would definitely like to chat about it, I will send you a pm.

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Jan 17, 2016 - 6:24am

Schwab Equity Broker + CFA = ? (Originally Posted: 03/26/2010)

Schwab Broker + CFA = ?

Any advice where this could lead if you are starting as a Schwab broker on the phone, working toward CFA? My back office fin. services is getting old and have been looking to change it up. CFA L1 in June to break the boredom. I have a friend a Schwabb that can get me there, but would it be worth it (paycut, phone jockey vs. working in an area I studied, "hopeful" career advancement/satisfaction)

Jan 17, 2016 - 6:27am

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