CPA + CFA lv3, 26 yrs old, bad job

Hi guys, I have come to the conclusion that going to business school is the best way to save my career at this point. I would like your advice on whether to spotlight,mention, or completely ignore my CPA and passing of CFA level 3 on my grad school apps, as well as a simple profile evaluation. (I am targetting Duke, UVA, Cornell, my dream school is Columbia and Wharton, but I don't think I have a chance with my work experience)

I am fully bilingual in Chinese and would like to become a porfolio manager specializing in Asian equities, or a head of finance for a multional firm such as Google, Toyota.

My background:

26 years old, male
720 GMAT - 47 Q, 42 V
2008 grad from top-2 public school on the West coast - 3.43 GPA
U.S. citizen Immigrated to the US at age of 15, speak/read/write English and Chinese with equal mastery.
CPA licensed, pass June 2011 CFA level 3

I worked 2 years at a small business management firm in LA right out of college. The firm serves as financial nannies for Hollywood moguls, from Russell Crowe, Sam Worthington...to JJ Abrams. We do things from paying bills, depositing checks, to financial statement compilation, investment porfolio summary, legal filings, royalty tracking, expense budgeting...

The firm had no mobility and I thought I needed more GAAP reporting and human, inter-departmental interaction, so I became a staff accountant for a movie theatre company, and have been there since.

I know the CFA 1 is not worth mentioning at all on applications, but what about CPA+CFA 3? Is my background interesting enough for my target schools? Or am I shortchanging myself and I'm actually good enough for top-10 schools?

I also have a suspicion that my lack of opportunities in investment management jobs has to do more with my geographic location than anything else. Is my problem (want an analyst job) easily solved by moving to NY or Boston, where the CFA is more valued?

Thanks to all who reply. Merry Christmas to you all!

 
Best Response

Sounds like a good idea especially if you can get into a top-tier program.

It's probably not your fault as much as the economy. The financial services industry was in a bubble. Investment banks, asset management firms, hedge funds, etc. are continuing to make cuts.

Of course location matters. Are you at least near San Francisco or Los Angeles... otherwise what investment gigs do you expect to find? Wealth management cold-calling financial adviser jobs? What specific roles are you applying for? Accounting or analyst roles... other? Being a CFA is valued but perhaps you're not applying for the right jobs. Also, my issue with the CFA is that too many people have it and it no longer differentiates you like it used to.

The benefit of an MBA is that it will allow you to network. Let's face it, sometimes landing a good finance job has more to do with who you know. But yea, sitting out in grad school during a bad economy is a good bet. You just have to make sure you don't get too much in debt because while a higher education degree is great there are no certainties in the future.

 

your job is not even finance, it's high-end errand work. unless you want to write about these useless experiences in your MBA essay you need to sac up and move on. i suggest talking to recruiters for PWM positions with asian clients. if you don't get better experience under your belt you have no chance at wharton or columbia. you are young enough to take a chance so do it now, you are wasting your life.

 

Modi sit laborum saepe dignissimos sed vero. Excepturi dolores maiores voluptates fuga et impedit dolorum. Corporis et repellat autem enim nam sit accusantium. Unde quia asperiores enim nobis. Ipsa ipsa sunt distinctio rem.

Sed ex est laboriosam molestiae amet quam. Id dolor sunt eum.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”