Wall Street Gets `Outsourced' as Analyst Jobs Shift to Mumbai

Z

zoomz00m

New member
Joined
Jun 28, 2006
Messages
0
Reaction score
0
Just saw this post tooday.....

Feel free to comment on how CFA will be valued 5 years from now when almost a million indians will have passed the CFA.
What would that do to the salary growth/outlook of CFA here in the US...

Patankar, co-founder of New York-based Adventity Inc., predicts India will have more than 20,000 analysts in 2011. That would put it ahead of the 15,229 securities analysts working at brokerages and investment banks in the U.S., according to Thomson Financial, a New York-based firm that tracks Wall Street research.

http://www.researchconnect.com/current_comments_detail/cc_845.asp
 
I'm a seller... that assumes a minimum of 33% analyst growth over the period with no jobs left on the street. Furthermore, on the buy-side, how am I going to get an analyst in India on the phone during the day? are they going t man the phones alll night? I'm certainly not going to hash out details with their assistant...
 
Firms will outsource the modeling and quant work overseas and analyst here will essentially be specialized institutional sales people (They kind of are right now anyway).

The value of the designation has and will definately continue to decline unless the CFAI limits the number of new charters they allow per year or perhaps ups the experience or education requirement to some type of masters degree.
 
Haven't they cut down on the number of places allowed to give the exam this year??
 
Dunno bout this. My much more succesful pals (MD level at various houses) all say the same thing about research, sales, trading, etc., as it relates to business around the world. They get to work at 6:30 EST in NYC, and, for example, the guys in CA get in around 4:30 and are already 1 hour behind these SOBs.

Obviously, it's a global marketplace, etc. but the point is, timing and proximity are huge, which means the 20m Indians with CFAs will have a leg up pitching / developing great ideas two hours before market open to Bombay based hedge funds trading whatever. And by that time, in NYC there will be an entirely new way of slicing and dicing assets, that will have yet been let loose on the rest of the world.
 
Yeah. I agree that the quant and modeling jobs can go but I think that it would be optimal to be right in the thick of the companies that you are researching. That should mean being in America imho
 
If everyone you're competing with has a CFA, wouldn't it increase it's value? IMHO, a pre-requisite is more valuable than icing on the cake...
 
What are you guys talking about? The time zone comments are particularly laughable. A day is 24 hours long in India as it is in NYC, London or Tokyo.

Listen. This is a business. If your only usefulness to the industry (client�s, employers & investors) is your excel skills or your "cfa", then you are in for a rude awakening; Mumbai or otherwise.
 
"Listen. This is a business. If your only usefulness to the industry (client�s, employers & investors) is your excel skills or your "cfa", then you are in for a rude awakening; Mumbai or otherwise."

first logical thing said by imp ytd...keep it up.
 
I think it's overblown. Remember the outsourcing scare in IT. As most of you know it was not nearly as significant as people made it out to be. IT people in the US are still high in demand and paid very well. Let's just hope this news discourages many people in the US from pursuing careers in finance so we have less domestic competition.
 
"The value of the designation has and will definately continue to decline unless the CFAI limits the number of new charters they allow per year or perhaps ups the experience or education requirement to some type of masters degree."

Can you please explain why the value of the CFA (or any other credential) necessarily declines in value because more people attain it? I think that logic is spurious. That certainly hasn't happened with respect to the CPA.
 
"I think it's overblown. Remember the outsourcing scare in IT. As most of you know it was not nearly as significant as people made it out to be. IT people in the US are still high in demand and paid very well. Let's just hope this news discourages many people in the US from pursuing careers in finance so we have less domestic competition."

You must not be in IT.

"The value of the designation has and will definately continue to decline unless the CFAI limits the number of new charters they allow per year or perhaps ups the experience or education requirement to some type of masters degree."

You sound like an immigration reformist or maybe an Augusta National member.
 
porters5 Wrote:
-------------------------------------------------------
> "I think it's overblown. Remember the outsourcing
> scare in IT. As most of you know it was not nearly
> as significant as people made it out to be. IT
> people in the US are still high in demand and paid
> very well. Let's just hope this news discourages
> many people in the US from pursuing careers in
> finance so we have less domestic competition."
>
> You must not be in IT.
>
Are you in IT? I have several friends who are all working at great firms, the fact of the matter is that even with outsourcing IT is still growing faster than supply. Here is some evidence to back up my claim.

http://money.cnn.com/2006/05/02/technology/business2_nextjobboom_hotjobs/index.htm

IT is expected to remain the #1 growth industry.
 
in a borderless global economy, the meritorious shall triumph.
no matter he be indian, american, polish or nigerian!
 
especialy nigerians... what with their extensive experience in international money transfers
 
The_Irritator Wrote:
-------------------------------------------------------
> Can you please explain why the value of the CFA
> (or any other credential) necessarily declines in
> value because more people attain it? I think that
> logic is spurious. That certainly hasn't happened
> with respect to the CPA.

I dunno. I think the CPA exam is becoming a requirement for accounting majors, but they usually move onto something else. Personally, I'd take the CFA over the CPA any day.
 
You must log in or register to reply here.
Back
Top