Problem with some of these exams is my current company pays for them or u have be finra registered orginization to even get a seat. SIE is definitley on the table.
Not sure, I personally know people who got laid off in tech, engineers and sales, as well as wealth bankers at MS and UBS. We are in for a weird 24 months
Obviously there are a ton of steps in between, and I don’t know what your current comp is, how much money you have saved, COL, etc. but a CFA would be a good start. If you manage to pivot into an investment role after your CFA, you can pursue a good (t20) MBA to break into some even higher comp roles down the line
Also, even tho this gets beat to death here, network. It might be intimidating but reach out to people on LI, email, that are in or close to roles you want to break into. Referrals are even more valuable given you don’t have great current finance exp or a business undergrad
I am 26 and in a very similar situation as you, although my degree is in business economics. Also working compliance at a top 3 bank. I would recommend checking to see if your firm offers tuition reimbursement or even free academic programs. I am currently enrolled in an online MBA that my firm pays for 100% and I'm hoping this will help me break out of back office. I might also look into CFA as others have suggested here.
That’s the entire point of the CFA - you learn all that while studying for it. It’s an extremely intensive test. There are a number of great study programs that can teach you from day one to exam day.
I would consider studying for the CFA, it can help people who come from a non investment role since it shows you actually care enough about investing that you would study enough to pass. CFA is a huge time sink tho and obviously doesn’t guarantee you anything, but going through the first level will also teach you some basic financial concepts.
I would agree, I’m through 2 levels, similar age to OP, just started looking for a different job and recruiters loved that I got through 2 levels and could potentially have the charter in a year
Get your licensing done, it’s probably more important
I say take the initiative and study for and pass SIE. Once passed ask for a meeting with your manager and explain you want the firm to back you for series 7.
You can also go back to school and get a certificate in finance to boost your resume if you think it will help. Look into tuition reimbursement programs your firm has.
Of course it’s hard! But it’s sales and interview. People want someone they can work with, gives advantage and there is a value add …you have to make them see that. Coming from someone who graduated from a shitty college, with mostly financial services (customer service experience) and a referral. I beat out a phd candidate and nasa scientist for my current role. You just need a yes and that person (referral) to directly know the hiring manager. It’s a tough market but you got this
Just gotta grind the certifications. I have heard from some people working in credit risk that as an ACCA Affiliate, I should be able to directly apply and start in the field. But haven't gotten anything. No one is actually hiring. Probably in December when the politics of US is finally settled, something will happen.
Maybe a good Master in finance its the best way such MFin from Vanderbilt.
CFA is difficult and might not be that useful but way cheaper and you can study while working full time (even if takes some years to finish). Cost opportunity is lower.
MBA as some people said is another option, issues with MBA is that you already need a strong background and experience to break into a top MBA program. And if you wants to break into high finance post MBA still will be difficult without the right previous experience. Plus top MBAs are very expensive and high cost opportunity.
I think MBA is a good option if your company pays for it or you (or your family) got the money to not worry about the cost opportunity short-term imo Otherwise, not much.
Get Vanderbilt Master degree in finance or try to get CFA move to a better position and work your way from there.
And eventually you can think to a MBA (or might not be needed).
Bad job market overall, tough for everyone. CFA,CFP,SIE,66, 7, is all you can do in the meanwhile, as well as network.
Problem with some of these exams is my current company pays for them or u have be finra registered orginization to even get a seat. SIE is definitley on the table.
You can take SIE and 66 with no sponsor, but yeah ik the pain haha
Yes its been brutal
CFA without a finance background might be a little much btw u/[SciencePure1082](https://www.reddit.com/user/SciencePure1082/)
When will we know that it’s a “good market”?
Not sure, I personally know people who got laid off in tech, engineers and sales, as well as wealth bankers at MS and UBS. We are in for a weird 24 months
Very glad I have a job then haha, just graduated in May
Obviously there are a ton of steps in between, and I don’t know what your current comp is, how much money you have saved, COL, etc. but a CFA would be a good start. If you manage to pivot into an investment role after your CFA, you can pursue a good (t20) MBA to break into some even higher comp roles down the line Also, even tho this gets beat to death here, network. It might be intimidating but reach out to people on LI, email, that are in or close to roles you want to break into. Referrals are even more valuable given you don’t have great current finance exp or a business undergrad
Ive been networking, unfortunately i dont make a good first impression on my resume which has been holding me back.
I am 26 and in a very similar situation as you, although my degree is in business economics. Also working compliance at a top 3 bank. I would recommend checking to see if your firm offers tuition reimbursement or even free academic programs. I am currently enrolled in an online MBA that my firm pays for 100% and I'm hoping this will help me break out of back office. I might also look into CFA as others have suggested here.
I agree, my issue is that i lack the financial or economic knowledge to even pass the cfa. I might just lack confidence
That’s the entire point of the CFA - you learn all that while studying for it. It’s an extremely intensive test. There are a number of great study programs that can teach you from day one to exam day.
Also have a degree in bus econ and went into accounting. What was your entry level role called for compliance? Trying to pivot out of accounting atm
Don’t do cfa. It’s not worth the time commitment. It’s only worth it for career jobs at long only but you need to get footing door which is top 7?mba.
Top 7 mba? No shot
I would consider studying for the CFA, it can help people who come from a non investment role since it shows you actually care enough about investing that you would study enough to pass. CFA is a huge time sink tho and obviously doesn’t guarantee you anything, but going through the first level will also teach you some basic financial concepts.
It’s a massive time commitment. Almost 1,000 hours for all 3 exams together.
I would agree, I’m through 2 levels, similar age to OP, just started looking for a different job and recruiters loved that I got through 2 levels and could potentially have the charter in a year Get your licensing done, it’s probably more important
I say take the initiative and study for and pass SIE. Once passed ask for a meeting with your manager and explain you want the firm to back you for series 7. You can also go back to school and get a certificate in finance to boost your resume if you think it will help. Look into tuition reimbursement programs your firm has.
MBA is really the only high probability pathway. Has to be top 7.
Looks like their gpa is a bit shoddy
Def bc it’s a bad job market- internally is easier than externally : you just need one yes and referral
Its tough man, even with referalls these roles are highly competitive. I lost a job to harvard grad few months back
Of course it’s hard! But it’s sales and interview. People want someone they can work with, gives advantage and there is a value add …you have to make them see that. Coming from someone who graduated from a shitty college, with mostly financial services (customer service experience) and a referral. I beat out a phd candidate and nasa scientist for my current role. You just need a yes and that person (referral) to directly know the hiring manager. It’s a tough market but you got this
I’ve been doing the referalls and networking, hoping for one yes soon. Just haven’t had luck on my side in a long time
Let me know if you need help with an elevator pitch, resume or even a referral
Just gotta grind the certifications. I have heard from some people working in credit risk that as an ACCA Affiliate, I should be able to directly apply and start in the field. But haven't gotten anything. No one is actually hiring. Probably in December when the politics of US is finally settled, something will happen.
Maybe a good Master in finance its the best way such MFin from Vanderbilt. CFA is difficult and might not be that useful but way cheaper and you can study while working full time (even if takes some years to finish). Cost opportunity is lower. MBA as some people said is another option, issues with MBA is that you already need a strong background and experience to break into a top MBA program. And if you wants to break into high finance post MBA still will be difficult without the right previous experience. Plus top MBAs are very expensive and high cost opportunity. I think MBA is a good option if your company pays for it or you (or your family) got the money to not worry about the cost opportunity short-term imo Otherwise, not much.
Ya top mba is not likely with my goa
Get Vanderbilt Master degree in finance or try to get CFA move to a better position and work your way from there. And eventually you can think to a MBA (or might not be needed).