MBA now CFA

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erice

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Any recent MBA's (06 or 07)? Just graduated but still cannot find a decent job. Thought I would try out the CFA in Dec to see if my prospects would improve.

Currently work for one of the BIG fives but nothing has changed since I earned the MBA (Finance). Its more frustrating after putting in all the time.

Does anyone share my sentiments?
 
Can you give more background?
- What was your undergrad?
- Where do you work?
- What do you do?
- How many years have you been working there?
- Where did you get your MBA?
- What kind of finance related job are you looking for?

If you elaborate we may be better able to help or direct you appropriately.
 
ditto. I got my MBA finance in 05. Working in a State government job. Hope pursuit of CFA charterholder will find a break. But, I don't share your frustration, as I understand there are millions of better talents in the world to compete with. So, just do your best, nothing can gaurantee from going through all these expensive education.
 
I got my MBA Finance in May 07, Seton Hall University (SHU). I work as a business analyst. I transitioned from being a small time broker.... I wasn't making much and it was such a hustle. I have my Series 7 and 66 (65 and 63)....which have not expired yet.

I have been working for this firm for the past 1.5 yrs. Looking to be an equity analyst or any position I can use my licenses and make money.
 
erice, I was in a similar situation. Had the 7 and 66 (and it's funny how you break apart the 63 and 65, I had to do that all the time too), was a broker not making much $$, so I went back to school (completed MBA in 05). Job-wise, I got lucky (went to a regional state school for MBA...undergrad rep probably helped me out more), but my advice is to stick it out and get through the CFA. Even passing level 1 might get you an interview. From there, it's all up to you. Keep at it, be patient and don't settle. Good luck!
 
I have completed my MBA in 06 and still at the same place. I am working as a Business Analyst and want to move to Core Finance (Business Side) and thought that MBA would help me in getting that side but I was wrong. I got a job with different company but the same position which I was doing after my UnderGrad.

I hope CFA would help me in working that side of the company.
 
You guys just need to network. IMO, an MBA and a CFA is not going to be some golden ticket into a high finance job.

I'm a lowly undergrad in my final quarter at a teir two school. So far, I've already weasled my way into two internships with firms that supposeldy only took Ivy Leaguers other brand name univ grads. The one I'm working now is awesome, I'm working in the front office at the CMBS desk. My previous was at an IB.

I attribute my landing the gigs purely to being aggresive in my pursuit of getting real world experience so I could land a gig easier in nine weeks when I graduate.

Right now the subprime market is going to hell so the firm I'm at pretty much said their not going to keep me. However, I've made nice with the SVP's and MD's. All of them are 100 percent behind me to find a new shop. Their even letting me use my Bloomberg terminal to look for jobs on top of calling their homies to see if they can get me in elswhere.

Look, if my dumb ass can do it anybody can. It's just a matter of positioning, desire, and biting the bullet i.e. taking risk. I forgot to mention I'm working for free!! Ouch!! Nevertheless, the contacts I've made worth not having an income for the last three months.

It's cutthroat out there. I see the jobseekers coming in from all over the country to interview for analyst, trading, IT, you name it. Some have CFA's, others MBA's, still others have only their BA/BS. The bottom line the people with talent get hired. Also, alot of people with degrees in fields like Mathematics, Physics, and Comp Eng are getting the good jobs because they are more proven handing the nitty gritty quantative tasks with the leaset amount of handholding plus they can program.

Lastly, the truth is this:

1.) CFA Institute plays up the CFA to be this panacea for people in the Finance community. Trust me, nobody gives a @#$%& if you've passed all three exams but you still have zero experience, you will not be managing a dollar.

2.) CFA is important at firms that care about CFA. Some don't. It's hit or miss. I've mentioned I'm enrolled in the program and some people just don't give a @#$%&. My point, read the bios of the people at the firms you want work. If everyone has CFA's you probably have a better shot as a candidate there.

3.) I've asked dozens of people about the real value of a CFA. Most say their firm looks at it as the equivalent of an MBA. Call the firms your interested in and ask. They will tell you. I'm still going to persue both.

4.) Experience will get you in the door over a CFA or MBA any day. So I try to just get gigs, any gigs in the front office and go form there. Once your in sell yourself, show you know your @#$%& and hopefully sombody will champion you.

5. Having more than just finance skills is a huge plus i.e. VBA, C++, SQL, Oracle, VB.net, Matlab, Bloomberg, Intex, Sentry, Lawson, Lehman Live, Factiva etc. Excel and Access is not going to cut it anymore. Also I cannot empahasize this word more MATH MATH and More MATH atleast through basic PDE's. There are about equal amounts, if not more, people with degrees in math as MBAs in finance at my shop at least. If I could go back thats what I would have studied.

Sorry for the long post. I have been as honest as I can about my experience on front lines. It's not easy, everyday I feel like I could be given the boot. If your not performing, even as an intern, your toast. You gotta want it. The reward, saying you were there. Money of course, the guy next to me on the desk is a analyst...I peeped the invoice for his direct deposit while the group was in market meeting......24k for one month. He has no MBA, of CFA...he does have a Phd in physics though.

I wish you all the best of luck. I don't think any of us are going to make it with out a little of it on our side and a ot of conviction.
 
I think a CFA would definately add value to your MBA, but nothing can replace good experience. But the MBA-CFA could give a ticket to that experience and from there , its all about how you manage your career.
 
Gouman thx for your insight....and I agree with all the posts. Being smartly aggressive is the game than just being blutantly aggressive with no game plan.

It doesn'thelp to have all these degrees and certifications if you can't make the income - atleast that's my reasoning.
 
way to break it down Gouman. And your words are applicable to ANY field. Folks have to get out there and go for what they want. Nothing in life is a given.
 
erice, i just completed an mba, i just wrote level 1 and am planning on entering the CA program by next summer. i currently work at a big four's m&a department, which is fantastic for getting exposure to anything and everything in finance (corp finance, valuations, due diligence, advisory, etc etc). i'm also coming out of a canadian school, and not a highly ranked one, so trust me, anyone who wants to get into a position for experience can definitely get it.
 
I have an MBA and just took level 3 of the CFA. It made me stand out from most other candidates in my job search. I also got a salary premium. What it didn't do was guarantee me my dream job or instantly mean i could make $150k per year with little experience. But no reason not to get them.
 
My experience is completely different.

Completed my MBA in 06 from one of the Top Canadian schools. Landed with several interviews from Wall Street and Bay Street right after my Year 1.

Having been working for one of the Top 5 Banks for the last 12 months. I just took Level II.....already headhunters approaching me with different positions. No planning to move before I become a charterholder.

I can say, CFA after my MBA definetly added substantial value to my overall package.
 
Diesel2 I hope to make a good six figure income like yourself when am done. Level 3...good job!

dnoyelles, what is CA program - is that the Client Associate program - correct me if am wrong.
 
erice Wrote:
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> dnoyelles, what is CA program - is that the Client
> Associate program - correct me if am wrong.


CA stands for Chartered Accountant. More or less the Canadian version of CPA.

http://www.cica.ca/index.cfm?ci_id=17150&la_id=1



Edited 1 time(s). Last edit at Wednesday, June 27, 2007 at 05:06PM by lola.
 
erice Wrote:
-------------------------------------------------------
> Any recent MBA's (06 or 07)? Just graduated but
> still cannot find a decent job. Thought I would
> try out the CFA in Dec to see if my prospects
> would improve.
>
> Currently work for one of the BIG fives but
> nothing has changed since I earned the MBA
> (Finance). Its more frustrating after putting in
> all the time.
>
> Does anyone share my sentiments?

====================================

Hi All,

Here is the final list of Electives offered as a part of my Executive MBA Program:

a) Securities and Portfolio Management
b) Derivative Risk Management
c) Mergers & Acquisition.
d) Project Appraisal and Finance.

And other two are :(Forced upon us, as there were just 4 electives in Finance)

Retail and Distribution Management.

International Brand Management.


Can any one who is doing a MBA tell me, if above list is sufficient and would complimet CFA?

Are the above at par with what is being offered by other international B-Schools.

Thanks
===========================
 
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