What proportion of candidates are NOT currently working in finance?

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cjones65

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Growth of the candidate base could outpace financial job creation for some time to come, and I am interested in the thoughts of those candidates who are not employed in finance. What keeps you going, and how are you approaching your candidacy? How many other candidates do you know that have been unable to secure positions in the industry? Are you paying for your own candidacy, and if not, then who is your sponsor? Are your weekly study hours in line with CFAI recommendations? How frequently do you apply to job postings, and most of all: what is your motivation for enrolling in the CFA program?
 
good question, i've found myself questioning what I've gotten myself into from time to time.

I currently work in finance (barely) but not in a job that qualifies towards the work experience portion of the charter.

My main motivations are an interest in the material (i found myself reading finance/valuation books for pleasure and figured what better way to learn more then to dive into the CFA material) Also I have two friends who have taken the exams, one has failed level 1 two times, the other cruised through and passed all 3 and now works as a PM. I have a similar knowledge base to this friend and figure if he could do it, why not me?

I currently am paying for my own canidacy. I'm kinda hoping/praying that by the time i get past all three (preferably after passing two) the market will have turned around and I'll be able to begin accruing related work experience for my charter.
 
I thought I was the only one. What I do isnt even remotely close to finance. The market is tough. What motivates me the most is taking an autodidactic approach to learning. It has become evident over the years that I learn better this way. The market and the way financial instruments behave intrigues me. This certificate will validate my credentials on both a personal and professional level. Hopefully obtaining Level 1 will help me land a job in finance. I am paying for my own candidacy.
 
finspert Wrote:
-------------------------------------------------------
> I thought I was the only one. What I do isnt even
> remotely close to finance. The market is tough.
> What motivates me the most is taking an
> autodidactic approach to learning. It has become
> evident over the years that I learn better this
> way. The market and the way financial instruments
> behave intrigues me. This certificate will
> validate my credentials on both a personal and
> professional level. Hopefully obtaining Level 1
> will help me land a job in finance. I am paying
> for my own candidacy.



From what i read finspert, L1 wont do much for you. If you want to get a job in finance, you need to have connections. I suggest you get yourself out there. Actually, I made a few connections when i was a personal banker at a big bank in chicago. Alot of fund managers and futures traders were around that new alot of big people. Its too bad i quit the job, but, it IS a good way to meet alot of people.
 
I am just reading the Schweser notes ATM to a get a feel for the course. I may register for level 1 for June 09, but I don't want to commit unless I find a position in finance
 
I am currently a trader working for a fee only advisor with $3.7B AUM. I am taking L1 in dec 08 and was inspired by two others at my firm that just took L2 in june. I am hopefully working towards a PM job or CIO for a fund. My firm will pay for hte test if i pass the first time. otherwise, its on me. I had to pay everything up front, but the reassurance that i will be reimbursed if i pass gives good motivation. I have been pretty consistnt with studying lately. About 2 hours on weekday and 5-6 per day on weekends. I am not really worried about my job security at the moment as the firm was just bought out by a pvt equity firm looking to take us public. i foresee good organic growth opportunities within the company in the future.
 
I am currently in a no-name B-school and, while the experience is great, the education is not as challenging as I would like it to be. Thus, I will be sitting for L1 in December. I am driven to pursue the CFA designation because of the prestige of the program and the personal challenge the exams pose. Studying for two programs at once has been a great challenge at times but, luckily, they mirror each other in a lot of areas.
 
I graduated undergrad in May and feel very good about my performance on Level 1 in June ( we will see in a few days)
I am having the hardest time in the world finding a job. It is ridiculous environment out there!
I have huge connections but they don't do any good when none of the companies aren't even considering people.
I have had 3 major firms actually schedule interviews with me and then call a few days before and cancel them telling me they either have put the position indefinitely on hold or they are "reevaluating their needs in the department"
I had one guy who has been with a major investment bank for 30+ years tell me I had one of the strongest resumes he has seen.
Its rough out there guys.
Anybody else is the same situation?

Good luck to all.
 
Me, did MBA (Oxf) last Dec, all ER guys say that I have a very strong CV for healthcare ER (happens to have both a Camb PhD and industry experience), prepared a research note for pitching myself but no luck yet. So, did L1 during this period and might have to take some job to keep myself going. had prelim interview with two BB while at B School, but those positioned has not been filled yet. Seems like they now want accountant with Life Sciences/Medical degree and merge two healthcare division into one- for one of the BB swiss bank. Other seems to be still in hold mode.
Pretty frustrated as well.



Edited 1 time(s). Last edit at Tuesday, July 22, 2008 at 07:23PM by saurya_s.
 
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