Equity Research job/entry level i banking jobs

i m an engineer and working in a consulting firm. we make sales intelligence reports for the marketing teams of IT companies.i also work on industry reports and trend analysis. can this experience be counted by good bschools?

Hey Tumtum,

What about those who are not getting it into IB. so this means, is it a waste to go ahead and get these qualifications. I am planning to pursue CWA and CMT. So, if i am not getting a job, I will not get it even after pursuing these qualifications.
Please throw some light on this. Also, please read this post to know more about me and my tryst with life - http://www.pagalguy.com/discussions/frustrated-and-i-need-some-inspiration-advice-25049509



Tumtum Bhai!

Iska Reply to de do yaar!:biggrin:

Kuch madat karo humari.

Chetan.

Ok...Chetan/Ashish et al. Im based out of Mumbai. If you folks agree, we can meet up on weekend at some place and talk in detail about all your queries. Take it as a lunch treat from me.

Tumtum Bhai I am based out of Delhi. I would not be able to travel 1300 kms to Mumbai.
Please help with your posts or if you could pm me your chat id...probably we can chat.


Cheers.

Hi Tumtum,

Nice to hear buddy that you are taking such a good Initiative to help others from your own experience & knowledge base.

Going through the posts from Ashish & Chetan, I am also of the same opinion, that we can have a webinar kind of or some stuff like that on net itself where we can schedule a meetinf or chat may be on gtalk,skype or yahoo as well, & hence have our fruitful discussion done, as I am alos based out of Hyderabad.

So you see 3 people all from 3 different locations need your help at the same time:)

Virtual Lunch party you can throw for us for sure.

Tumtum Says
Ok...Chetan/Ashish et al. Im based out of Mumbai. If you folks agree, we can meet up on weekend at some place and talk in detail about all your queries. Take it as a lunch treat from me.

Tumtum bhai , even i would like to get in touch with u. Thanx. And i am based in Mumbai only!

Hi guys, I'm Ram from Hyderabad.
Did BBA from Loyola college, Chennai,
currently CFA lvl 2 candidate-
would love to join the discussion 😃


1) i have done b.com from loyola college ( u mentioned one requirement is graduation from reputed college, so done).

2) i have cleared cfa level 1 last dec (u said join some course like cfa to kick start, so its done)

3) and i also have ca level 2 also, just cleared (but i don intend to continue it further cos i cant make up my mind to go for 3 yrs of mandatory internship under a ca and also cos i want to work like as an equity analyst or ib so y waste time in audit and taxation)

i planned to look for job and continue with cfa while working..staying in chennai, irevna looked only option where cfa will be valued (though ders no vacancy at present for equity research associate so im just waiting waiting..) ..so agreeing what all u said is true, im on ground zero again and i dono where else i can look for job..so can u help me out with my immediate options..

can we have a brief chat plz ,i have some more queries n i think u r the one who can show proper path..

awaiting ur reply eagerly..thanks..

revisitng ur words..
"An MBA will reduce this time frame to something like 3-4 years for you, without an MBA you will spend some time more at junior levels. The problem for you is that all the big league b-schools DO NOT CONSIDER KPO WORK EX in good standing because they know that it woudl be difficult to place you post MBA into a good place if you have KPO on ur resume."( i want my experience to count cos i intend to go for mba after 2 yrs of experience n completing cfa)

"If you dont want to take this acid test and still want to be satisfied calling yourself an "equity research analyst", then join some KPO like Copal Partners, Aranca, Irevna, Progeon and satisfy your false sense of pride" ( if kpo doent counts den brokerage house experience wouldnt count as well) so basically where should i look for job ? thanks again..


Ashish.

Look at your posts, you will find the solution yourself.

First of all to tell you, your graduation is from a reputed college, which works good for your overall profile but graduation by itself does not amount to much.

Secondly, I see you starting things in earnest and then floundering halfway through ! Take the instance of CA- you find faults with accounting/audit and taxation but its not necessary to get into this field post CA ! A CA degree has tremendous goodwill and hence will allow you entry into fields not related to accounting/auditing & taxation. I have seen so many examples of this happening right in front of my eyes. Similarly what can you accomplish by L1 of CFA? Absolutely nothing..."Half Degree is no Degree". Remember this. You should have cleared L2 this June...did you appear for it? I guess no.

Thirdly, why are you fixated on Irevna and Chennai? I have reiterated this a thousand times that Mumbai is the financial capital of India- its also a regional powerhouse in terms of finance in Asia (South Asia to be more precise). The kind of opportunities and wide-ranging finance work profiles that you get in Mumbai is the best in this country. What then are you doing in Chennai?

Fourthly, who told you that brokerage work-ex amounts to nothing? I think you are too full of fixed ideas.

In an MBA interview, the admission committee typically looks for "marketable skills" that the candidate has developed in his job.

It is these "marketable skills" that will help the B-Schools place the candidate in a plum job on completing the course.

If you work in a brokerage house, then there are many skills that can be developed- from small ones like executing orders to larger ones like bringing business from clients to even better ones of suggesting alpha trades and making money for the client/ prop desk. And mind you all these can be measurable in the amount of profits it generates.

Can you compare this with a KPO? NO WAY ! KPOs seldom provide such opportunities because essentially they are "cost saving" mechanism compared to brokerage business which focuses on "revenue generation". How than in this world can you compare both?

So as per me the game plan for you should be- complete either of CA/CFA FULLY and move to Mumbai. Dont sit in Chennai or for that matter anywhere else if you want a career in capital markets. Find a job in Mumbai and then complete the other remaining degree. You should remember that career development is a long game- its is not decided in a day or month's time. You have to work as per a strategy and stay focused despite all distractions. Then only can you build a successful career.

Hope this helps.

hi TUMTUM

I am very much interested in equity Analyst Job. Currently i am doing my PGDM(Finance) from JIMS(New Delhi).
I have done my B.Tech From NIT,KKR.
I have Cleared CFA(US) level 1 in june 2010.
I am sitting for FRM(GAAP) in Nov for both the level.
my college placement has been started.
In delhi i will get job in equity analyst or financial research profile.
But some of my friends are suggesting me to go to Mumbai.
or should i start applying through some consultants.
what should i do now?

Hi Tumtum

My long term goal is to establish myself in Investment Banking. I plan to do mba from a top Institute after acquiring some relevent work-ex. I hav done BE(Mech,2009) from an well-known institute, CFA L1 in June 2010 & presently working in TCE as engg. consultant for 6 months.Since I hav no experience in financial field, it has became difficult for me to switch to a suitable financial job. Please suggest some way to get out of this vicious cycle.

Hi Tumtum

My long term goal is to establish myself in Investment Banking. I plan to do mba from a top Institute after acquiring some relevent work-ex. I hav done BE(Mech,2009) from an well-known institute, CFA L1 in June 2010 & presently working in TCE as engg. consultant for 6 months.Since I hav no experience in financial field, it has became difficult for me to switch to a suitable financial job. Please suggest some way to get out of this vicious cycle.


Complete CFA first. Work upon understanding the markets and economy, the sectors and the industries. Move to Mumbai and try for openings in brokerages/i-banks. Chances are that you might get it ! All the best !

Hi Tumtum
I have gone through your advices for entering into the equity research job.I have done BCom.I am fresher.I am doing MBA(Finance) through correspondence(Symbosis).I am getting a job of Equity advisor in a broking firm in delhi.Should i join it and how this exp can help me to enter in equity research job later on???will this exp counts.What else should i do to enhance my chances to get a job in IB later on.Plz advice me......

hi tumtum , i just read the whole thread & clearly u r the guy to consult about IB, i am mark & i have done BBA(B&I;) from GGSIPU ,
MAHARAJA SURAJMAL COLLEGE wid 65% , i am currently working in
Barclays shared services in new delhi as a financial sanctions (its not a core finance job ) officer from the last 6 months, i have always wanted to be an investment baker & have gathered a lot of knowledge of investments
i want to join a reputed IB in 2 years time at all cost.
, i have three major options:
1.work wid barclays for next 6 months & do CFA.
2.shift from here to some KPO like capital iq as i read in merger & acquisition dat it gives a lot of contact opportunities wid IBs , & do CFA wid it.
3.work in a local brokerage firm / kpo in mumbai wid CFA.

moreover can u please clarify dat as local brokers are not recognised globally & i plan to do master in finance/MBA from a top b-school in USA in 3-4 years , wont it be better to work in a KPO as it will be recognised easily , will i surely learn more at a local brokerage den in a KPO?? what do u mean by bad exit opportunities?? lastly site like margersandacquasition advice dat CFA/FRM will not give an edge in joining IBs what do u think?? plz help......

i want to join a reputed IB in 2 years time at all cost. i have three major options:
1.work wid barclays for next 6 months & do CFA.
2.shift from here to some KPO like capital iq as i read in merger & acquisition dat it gives a lot of contact opportunities wid IBs , & do CFA wid it.
3.work in a local brokerage firm / kpo in mumbai wid CFA.


Why do you want to join IBs? Whats the driving force? Is it just money? Is it to get a good profile for MBA? Is it the love of markets- if it is the love of markets, how do you explain that?

markinson Says
moreover can u please clarify dat as local brokers are not recognised globally & i plan to do master in finance/MBA from a top b-school in USA in 3-4 years , wont it be better to work in a KPO as it will be recognised easily , will i surely learn more at a local brokerage den in a KPO?? what do u mean by bad exit opportunities?? lastly site like margersandacquasition advice dat CFA/FRM will not give an edge in joining IBs what do u think?? plz help......


Even if the local brokers are not recognized globally, the fact remains that that if you have worked with them, you know what business is all about- not like a KPO where you dont get a true hang of how business is done.
Secondly, for God's sake remove the KPO word from your dictionary- no matter what KPO you work in, it will never give you the kind of knowledge (mainly the knowledge of how the business flows and how you can take advantage of it) that a brokerage or a "real" industry will give. Take my word for it.

Thirdly, if you read my posts in FRM thread, I have reiterated time and again that doing FRM wont get you into some job. Rather it is something to be done if you are already into risk management/trading kind of a job. So whatever website you mentioned is concurrent with my views.

Bottom line: KPO= Career Killers in the Long Run.
Hi Tumtum
I have gone through your advices for entering into the equity research job.I have done BCom.I am fresher.I am doing MBA(Finance) through correspondence(Symbosis).I am getting a job of Equity advisor in a broking firm in delhi.Should i join it and how this exp can help me to enter in equity research job later on???will this exp counts.What else should i do to enhance my chances to get a job in IB later on.Plz advice me......


You are doing all that is required to sabotage your career dear friend.

Why at all do you have to take up a correspondence MBA even if it is from a Symbiosis or whatever institute? MBA is not about studies- it is about grooming. The reason why MBAs from top institutes are highly rated is because they are made to go through a lot of grind before they get their MBA degrees. There is a lot of IIM/IIT junta on this forum ask them and they will vouch for what I am saying. When you do a correspondence MBA, you are avoiding the "grind" part, and hence losing out the core part of a top class MBA. How then do you expect your career to be furthered with this namesake diploma?

Secondly, what will you do in the job of equity advisor? It will be a client facing role with you having to generate leads and get business out of clients- this is way different from research. To step into research from such a background when you dont have stellar acads is going to be really tough and might I say a dash far fetched an idea.

Hope you get the point.

thanks a lot tumtum , i really wanna join an ibank or any other reputed finance org as i have always liked the subject , although i have not invested myself due to personal reasons but i have a curisoity & liking for the subject from the school time,also the work profile & salary are an added bonus ,,,,,yes i want to get into a good mba school , like one in top ten in usa or india , i would like to rephrase my question , i will change my current job profile in next 4 months , as i have very less experience in management & finance, i want to know , which of theses is best for both:
1 PO oficer in a good indian bank., although most po are doing selling nowadays.
2 a job in a brokerage firm while pursuing CFA
3 research job in KPO OF GOOD REPUTATION WITH cfa.

ALSO I REALLY WANNA DO cfa FOR A DEEP KNOWLEDGE IN FINANCE HOWEVER I CANT DO po exam PREPARATION& cfa TOGETHER , DO U THINK THAT cfa WILL GIVE ME A GOOD ADVANTAGE IN LONG RUn , ....thanks...

Thanks TumTum for your reply.I want to know at what profile should I enter into local broking firm.Will certification in Equity research from NSE will help me to fetch a job in brokage firm as a fresher.Can you suggest me what step should I follow Right now as a fresher to enter into equity research.You have already mention in your previous posts regarding KPO and brokage firm.But I am not clear about fresher recruitment into Brokage firm.Can you provide me few brokage firms in delhi who provide opportunity to freshers.Should i Go to KPO as a financial analyst and gain 2 yrs exp and then move to brokage firm.Also doing CFA from ICFAI along with KPO .Will that help me in long run to enter into IB??? Plz advice me .
You are doing nice work here helping out others.Keep it up your good work.


1 PO oficer in a good indian bank., although most po are doing selling nowadays.
2 a job in a brokerage firm while pursuing CFA
3 research job in KPO OF GOOD REPUTATION WITH cfa.

ALSO I REALLY WANNA DO cfa FOR A DEEP KNOWLEDGE IN FINANCE HOWEVER I CANT DO po exam PREPARATION& cfa TOGETHER , DO U THINK THAT cfa WILL GIVE ME A GOOD ADVANTAGE IN LONG RUn , ....thanks...


Dude, I think you are pretty much sold out on joining a KPO. No matter what the facts, you somehow have an unending fascination for KPOs which is evident from the "bold" letters you have used to highlight "KPO WITH GOOD REPUTATION".

To set the facts straight, there is nothing like a KPO with a good reputation. Something like this is non-existent. Take into account these facts.

* KPO work ex is not valid for many good b-schools- I certainly know this because there are messages in my inbox where people are asking me for guidance on how to remove a KPO tag from their CV after their 3-4 years KPO work ex has been drubbed by b-school admission committees.

* Front-end research can NEVER be done in a KPO set-up. If you know the business, then you will figure it out easily that research analysts who cover a particular company need to meet the management, need to meet the stake holders, need to actually visit production facilities, need to meet the distribution channel dealers to do channel checks and from these they get their bespoke research and publish reports. Can this happen in a KPO set up? If you are writing a research report on some company in the US, can you meet the management sitting in India? Can you do channel checks sitting in India? Can you meet the stake holders sitting in India? Can you visit the production facilities or clients sitting in India? NO

You know the answer to these is NO. Then what are you essentially doing in a KPO? You are using google and Reuters/Bloomberg-downloading data and doing a CTRL+C & CTRL+V treatment. Thats it ! DO YOU CALL THIS RESEARCH? I CALL IT DIGNIFIED BULL***T.

The only thing you have to do if you want a long-term career in the industry is to join a brokerage and work your way up. All else is useless if research or i-banking is what you call your future. Career is not built by any short-cut. You have to burn the midnight oil and you have to give it your blood-sweat and toil.

I rest my case here. Rest is upto you.
Dude, I think you are pretty much sold out on joining a KPO. No matter what the facts, you somehow have an unending fascination for KPOs which is evident from the "bold" letters you have used to highlight "KPO WITH GOOD REPUTATION".

To set the facts straight, there is nothing like a KPO with a good reputation. Something like this is non-existent. Take into account these facts.

* KPO work ex is not valid for many good b-schools- I certainly know this because there are messages in my inbox where people are asking me for guidance on how to remove a KPO tag from their CV after their 3-4 years KPO work ex has been drubbed by b-school admission committees.

* Front-end research can NEVER be done in a KPO set-up. If you know the business, then you will figure it out easily that research analysts who cover a particular company need to meet the management, need to meet the stake holders, need to actually visit production facilities, need to meet the distribution channel dealers to do channel checks and from these they get their bespoke research and publish reports. Can this happen in a KPO set up? If you are writing a research report on some company in the US, can you meet the management sitting in India? Can you do channel checks sitting in India? Can you meet the stake holders sitting in India? Can you visit the production facilities or clients sitting in India? NO

You know the answer to these is NO. Then what are you essentially doing in a KPO? You are using google and Reuters/Bloomberg-downloading data and doing a CTRL+C & CTRL+V treatment. Thats it ! DO YOU CALL THIS RESEARCH? I CALL IT DIGNIFIED BULL***T.

The only thing you have to do if you want a long-term career in the industry is to join a brokerage and work your way up. All else is useless if research or i-banking is what you call your future. Career is not built by any short-cut. You have to burn the midnight oil and you have to give it your blood-sweat and toil.

I rest my case here. Rest is upto you.

thanks a ton tumtum , yes i have realised that kpo is a career killer so i wont join it at all , just one query i have is that the indian brokerage firm are giving a very low salary about 8k PM moreover the entry level profile will be of selling,some even want high level of finance knowledge(i can do that), so should i join them or shouldn't i join a indian bank as a PO & then after 3-4 years apply in an i-bank considering i also complete my CFA by then?? thanks
BROKERAGE FIRM OR PO????
thanks a ton tumtum , yes i have realised that kpo is a career killer so i wont join it at all , just one query i have is that the indian brokerage firm are giving a very low salary about 8k PM moreover the entry level profile will be of selling,some even want high level of finance knowledge(i can do that), so should i join them or shouldn't i join a indian bank as a PO & then after 3-4 years apply in an i-bank considering i also complete my CFA by then?? thanks
BROKERAGE FIRM OR PO????


Brokerage firm or Bank PO ? The choice depends on what career you want. If you want a career in capital markets/ibanking then brokerage firm is the right way- if not then you can go for Bank PO.

The fact is that it is actually tougher to get into ibanking after spending 4 years in commercial banking and it is much easier to get into ibanking after spending 4 years in a brokerage. In fact most of the top ibankers at top firms have at the beginning of their careers worked at menial roles in brokerages. You will find a strong link between brokerages and ibanks in that way.

Secondly, dont look at low pays dude. You are not from IIMs/IITs so in all fairness you should not look at the salaries they are getting. You will have to start from scratch and build your way up in 3-4 years time.

If you have worked in a brokerage prior to doing MBA, then it will boost your profile after you complete your MBA and it will certainly give you an edge in getting into big-ticket ibanks because they will value your grassroots level work experience of 3-4 years in a brokerage firm as it will give them assurance that you are business-ready and wont have to be taught things from scratch.

Think of working in brokerages as a stop-gap arrangement for 2-3 years and alongside prepare for your GMAT and get a 700+ score.
Frankly speaking, its not necessary to do CFA at this stage....you can do that even after your MBA.

The trick for you is to get a good profile (even if at a low pay) and work for a top-class MBA. If you manage a top class MBA then you will get good placement. CFA can be done later on as most MBAs do nowadays.

Think on these lines and feel free to ask more. Thanks