Why Finance?

Jobs & Careers
390
suryaveersingh Says
for finance student is it necesary to do cfa??????


its never a must.
u have many other options like frm,cfp.
but cfa is the most renowned and demanded course.
Well Its tough and costly too.But it ll certainly enhance your profile and u ll have jobs galore waiting for u.:-)
391
Can anybody tell me what does a financial consultant actually do?
There are many financial consulting firms but am still confused actually what their profile is ????


Financial consultants offer analysis and guidance to companies/individuals in making investment decisions. To be even more precise , Say you have some goals set in your mind , FC helps you to understand how your finance can help meeting your goals.

suryaveersingh Says
for finance student is it necesary to do cfa??????


It depends on what you want . CFA is just a career enhancement course . Its very much optional to do . There are other alternate certifications as well ..

Good luck !
392
suryaveersingh Says
for finance student is it necesary to do cfa??????


No formal education is necessary for excelling in Finance field including MBA/CA/CFA/Engg etc... Have seen people not clearing even their 12th standard, playing in crores in Markets Passion is the only thing required
393

Hi Puys,
I had a few good calls this years, but couldn't convert most of them. The only option available with me right now is TAPMI.
1. Does anyone have an idea, how good is TAPMI for finance?
2. I have 20 months of non-relevant experience right now. Would it make sense to give CAT a try one more time (and aim for better colleges) or should I join TAPMI this year?
3. Would being a CFA level-I or II candidate (I would start preparing for CFA level-I this may) help during the final placements?
TIA.

394
ABCLIKS Says
No formal education is necessary for excelling in Finance field including MBA/CA/CFA/Engg etc... Have seen people not clearing even their 12th standard, playing in crores in Markets Passion is the only thing required

Finance is what I am looking forward to, but with 29months of IT experience and joining the 49/19 batch of IIM C I have few queries in my mind:

1) My experience in IT sector would not come handy for Lateral Placements, So how do I prove show the interviewer my interest lies in finance?
2) Would certifications( cfa and frm) help me in enhancing my profile? Would you advise me to prepare for CFA L1 (DEC)?
3) Do finance companies look into the past acads for shortlisting of the profiles?(I wish you say :nono:)

TIA
395
Finance is what I am looking forward to, but with 29months of IT experience and joining the 49/19 batch of IIM C I have few queries in my mind:

1) My experience in IT sector would not come handy for Lateral Placements, So how do I prove show the interviewer my interest lies in finance?
2) Would certifications( cfa and frm) help me in enhancing my profile? Would you advise me to prepare for CFA L1 (DEC)?
3) Do finance companies look into the past acads for shortlisting of the profiles?(I wish you say :nono:)

TIA


1. Ur IT experience will come handy if u sit for consulting profiles in IT MNCs.Say u worked on a BFSI project during ur IT days and since then u felt that u can do better in finance.so opted for financxe specialization.

2.YES...CFA and FRM both are world class and go a long way in enhancing any profile. IMO...aim for CFA May 13 as finance wud a entirely new domain so it mite be too much along wid MBA.

3. If its all 60+ then no real reason for worry.However I dont think IIM passouts face that hurdle.
396
Finance is what I am looking forward to, but with 29months of IT experience and joining the 49/19 batch of IIM C I have few queries in my mind:

1) My experience in IT sector would not come handy for Lateral Placements, So how do I prove show the interviewer my interest lies in finance?
2) Would certifications( cfa and frm) help me in enhancing my profile? Would you advise me to prepare for CFA L1 (DEC)?
3) Do finance companies look into the past acads for shortlisting of the profiles?(I wish you say :nono:)

TIA


I am not pursuing MBA so have little knowledge about it. Still I have a little idea from the Joka Alumni. This is applicable to only Day 0 and may be Day 0.5 placements as Its either a Day 0 or just normal routine placement.
I will start with 3rd one first.

3) Unfortunately yes, most certainly. There can be cut offs. So one's resume may not even reach these recruiters, so no question of interviews and getting a chance to sit for them. :(

2) CFA level 2 (If level 3 is over, it will be the best) can help immensely to get the shortlist from at least some recruiters. It will help overcome the acads cut off at least for few recruiters.
At least for this year, most of the cream finance roles were in the form of PPOs. It means, getting a summers in these recruiters is the most important thing. At final placements, the quality of profile may fall which was the case at least for the year gone by.(I am talking w.r.t Joka standard, which itself is too high)

1) Since many things are against your profile, you have to create a resume which the recruiter can't ignore. So if some luck prevails and the policy of a few recruiters is to go through all the resumes; your resume should come on the top. Resume doesn't become attractive just by mentioning "CFA/FRM" (A few people mention even NCFM ) Many resumes at Joka are going to be a replica of each others as all Jokars are already stalwarts, so everyone will be having something or other better than others. So creating a resume is going to be a very difficult task. Of course, if one gets the interview call, converting it is going to be much more difficult task as the shortlist is going to be cream of the cream. I hear that more than 100 guys there had cleared CFA Level 1 in the last batch. (The number can be more, am not sure of this)

P.S. Joka is one of the best management institute in the 'World', so personally if you ask me, getting an admit for it, is much more pleasurable than getting a Day 0 placement there Remaining day placements are better than almost all institutes in India. But everyone wants best of the best

P.P.S. All things posted here are gathered through Joka current batch as well as the last batch whose placements were just over.
398
Hi Puys,
I had a few good calls this years, but couldn't convert most of them. The only option available with me right now is TAPMI.
1. Does anyone have an idea, how good is TAPMI for finance?
2. I have 20 months of non-relevant experience right now. Would it make sense to give CAT a try one more time (and aim for better colleges) or should I join TAPMI this year?
3. Would being a CFA level-I or II candidate (I would start preparing for CFA level-I this may) help during the final placements?
TIA.


For the first two , I think a senior at Tapmi can help you better..

CFA does help in placements but wrt to some companies only such as Crisil can be a good example .. But your aim of CFA should not be aligned with placements.. but with amount of knowledge and skill set you may or may not add with a CFA.. Practically speaking MBA finance covers every thing a CFA provides ( as per my knowledge and experience )but yes it helps in more indepth study ... which is possible without being a CFA candidate as well

Placement is a mere consequence of what you learn and gain from a b-school or course ..


PS: I would like to add that i am not CFA l1 but i was shortlisted by Citigroup when some of the CFAs didnt make in the list.. It was direct consequence of my MBA GPA and Summer internship at Stan C..though i later opted out of the process due to some reasons :)... So dont go by "standard" what people teach and follow .. make your own path ..
399

Was going through some of the earlier posts and found some FAQ's... :)

i would like to answer these...as i have been through the same dilemna 3 yrs. back.. :)

1. Will CFA help me getting in a decent B-school??

A1. Level 1 hardly matters.But yes,if u have completed L2,L3 that might work in your favour as it shows that you really are a committed person and are clear about ur future goals and what u want from ur MBA.
So,if u have almost everything in place,(acads/good GD/PI/WAT/CAT SCORE) CFA might help u outscore others...
SURVIVAL OF THE FITTEST Funda !!!

2. Should i go ahead with my decision of pursuing CFA??

A2. That depends on why u want to do CFA.If u are just doing it for impressing the interviewer,then i will suggest u to reconsider your decision.CFA is not any walk in the park...and Finance as a career,should not be chosen just for monetary benefits.Its lot more than that.First go through some of the CFAi material and if it really interests you,then go ahead irrespective of any other factor.Believe me,if u LOVE FINANCE,THERE'S HARDLY ANY COURSE AS INTERESTING AS CFA.ITS THE BEST OF THE LOT !!! but only if u are really interested in Finance.!!!!

3. Will CFA help me in my career??

A3. Definitely,CFA will help u considering the long term career path and what u want to be after u have completed ur MBA.Portfolio management,equity research,Investment research,asset management are some of the areas where CFA is quiet useful and about 70-80% of hedge fund managers in US have CFA on their profile.So,CFA will never be a waste !! The knowledge that u will gain from this course is simply unparelled !!!!

In fact,pick up any equity research report of any sector/stock of any major Bank/FS provider,be it credit suisse,morgan stanley,reuters......On the top,the analyst designation will always read CFA. :)

4. What salary can i expect after CFA in india??

A4. Do a quick search on PAYSCALE.COM ....its somewhere between 4-20LPA based on the exp. and ur additional qualifications (read MBA from top 10) ;)

Honestly,CFA is not that well known in INDIA.Having said that,there are top notch multinational firms that do know what it takes to be a CFA and give respect to the designation,but on the whole its not that popular.Getting a good job just on the basis of CFA might not be that easy.CFA is best when coupled with a TOP MBA in india.Though people do get into equity reseach/asset/portfolio management on the basis of CFA,but that is one in a '000 case. :)

Morgan stanley had an opening for asset managers some time back and the eligibility criteria read CA/MBA(FIN)/CFA.....so,there is scope but very few and far in between. :)

5. Can a get a front end Investment banking role after CFA??

A5. Are u kidding me...?? Only top mba colleges in india can get u into front end IB....U can do a quick search on the job profiles that CFA's get after attaining a charterholder on the CFA website.Very few are working in front end IB...and those few are from Harvard/wharton/stanford and other top colleges.So,CFA alone wont get u into FO IB. :)

6.Will CFA be of any help during Summers/final placement @college ??

A6. Look,in a top management college almost everyone has the same IQ level/same acads/same work-exp (IT 😉 ) SO considering all these ....yesss......(Level 2/+ )will be a definite plus on ur CV.....Differentiator might be the right word :)

7. From where should i study for CFA.?? CFAI Material/scheweser/stalla/analyst notes ??

A7. As i said,if u really love finance,u will not take CFA exams coz u want an additional bullet point on ur CV...on the contrary,u will study coz u want to know FINANCE inside out.And believe me guys,if u study from the CFAi material,u can rip a company apart in just 2-3 hours.& I am not joking.... :)

It all boils down to why u are taking CFA.If u just want to pass the exam honest reading of Scheweser+back Q's+mock Q's is enough,but if u are really crazy bout Finance,CFAI material should be ur first and last choice....I wont recommend anything else apart from CFAI material...its by far the best material that u will ever get on Finance :)

8. How tough is CFA?? How much effort should i put(no. of hours) to pass it in first attempt ??


A8. Again a very subjective Q....For guys who are CA/CS It might not be tough as they already have studied most of the topics but for engineer's (like me 😃 ) the course do require a fair amount of attention,though its not at all tough !! Lets put it this way,Its interestingly Tough !!!!! :)

Hope this post was helpful!!!!!!! :)

@mods- I know there is a seperate thread for CFA on PG,but it seems CFA is more popular over here than it is on the CFA thread..hence the post !!! :)

All the best to everyone !!!

400

There is a lot of talk about CFA in this thread .

The below post helped me in understanding CFA as a career enhancement tool rather than career changing tool .

so posting it here :

http://www.pagalguy.com/forum/career-discussions/12326-need-some-opinions-on-cfa-141.html#post1054333

The bottom line is simple . Dont go for CFA just for placements . As abhi pointed out there are ppl who get decent jobs (with out CFA) but with their educational BG /grades/prior work ex .

My personal experience with CFA and How did CFA help me ?

I am L2 candidate.I am basically an Engineer with IT work ex . So L1 helped me in understanding accounting , derivatives , corporate finance and equities at the fundamental level . L2 is now in progress . i am learning things in a better way .At this point,I am more interested in gaining good grasp at all this concept rather than just write it for sake of clearing it .


@anjaneyanjan7, As far as i know , Future first is one company which offers the profiles which u said .But not sure how easy it is for a IT engg to get through. I hope ABCLIKS saar will give u a better idea on your query

401

Hello
I am perusing part time MBA from NMIMS, I already have work experience of 5 years in IT .
I wanted to choose dual specialization with Major in IT and minor in Finance as I find finance as a very interesting subject , can any one suggest what could be career options available for me after choosing Finance ,in IT industry ?
Thanks

402

Bad post....

404
For the first two , I think a senior at Tapmi can help you better..

CFA does help in placements but wrt to some companies only such as Crisil can be a good example .. But your aim of CFA should not be aligned with placements.. but with amount of knowledge and skill set you may or may not add with a CFA.. Practically speaking MBA finance covers every thing a CFA provides ( as per my knowledge and experience )but yes it helps in more indepth study ... which is possible without being a CFA candidate as well

Placement is a mere consequence of what you learn and gain from a b-school or course ..


PS: I would like to add that i am not CFA l1 but i was shortlisted by Citigroup when some of the CFAs didnt make in the list.. It was direct consequence of my MBA GPA and Summer internship at Stan C..though i later opted out of the process due to some reasons :)... So dont go by "standard" what people teach and follow .. make your own path ..





Just a query, gentleman. For which profile, did CITI recruit ? If its sort of financial sales, then CFA will be of no use. And just curious, had those guys completed Level 3? (I believe, Level 1 doesn't help a bit)
405
ABCLIKS Says
Just a query, gentleman. For which profile, did CITI recruit ? If its sort of financial sales, then CFA will be of no use. And just curious, had those guys completed Level 3? (I believe, Level 1 doesn't help a bit)


profile was of research analyst , a back end profile in IB .. and no people were CFA L1 mostly ..

To elaborate more Corporate Valuation was an important skill set that was required ..

Financial Sales interesting can u elaborate more on that?


having said that i dont think max people doing MBA are CFA L3 and Front end profiles are not offered beyond top 3-4 B-schools ..
408
ABCLIKS>.....sir meri bat ka jawab de do...kch......

kch to marg-darshan karo.......



Will PM u in a while
409

Continuing the discussion on CFA & Investment Banking, I'd like to add my 2 cents :)

Disclaimer : I am neither a CFA nor do I work in IB. Just sharing some "gyaan" which I gathered through my online endeavors. I hope it helps ya! Seniors, please correct me if you find some mistakes.

I am mentioning few links which I consider "must read" whether you intend to do a CFA or work in IB Front End. Reading these articles (and understanding as well!) will help you build a foundation of both the areas and gain some insights. It is better to spend some time reading few basic things about any field before investing time, money & energy into it. Heck, I made a quote for it. "A little research saves a great regret :)"

Investment Banking

If you aim to be a hotshot I-Banker, you gotta read each & every article on this site (Understanding Investment Banking | Mergers & Inquisitions). I consider it the online holy grail for wanna be I-Bankers 😉 The insights you'll find here are priceless. You've got to read how life is on the sell side vs. buy side, what I-Bankers hate, does CFA matters in I-Banking, how you can land a job in I-Banking etc. etc. I cannot emphasize enough how much helpful this site is. Okay, I am overselling it, but it is true!

Apart from this site, there is a thread on PG which is indeed worth referring for our fellows intending to work in IB. The guy who started this thread is an Indian and he started this thread when he was pursuing his MBA as well as summer internship from #3 I-Banking company. Follow first 35-40 pages diligently and you'll be a well informed person than you were previously

CFA

Ah, the ultimate superpower god like certification, of course. Okay, not entirely true but this is the belief that many students carry in their minds when they are preparing for it. But, first you gotta know whether this cake is worth eating or not. Because it is costly, time-wise and money-wise. So here are few good links to clear out some confusions.

Mergers & Inquisitions, of course. There is a separate article entirely for CFA. Search on the site and also have a look at the links mentioned in that article. Definitely, worth reading.

Some other links on Equity Research & Hedge Fund reading.

Life on the Buy Side: Do I need say more?

Analyst Notes: For CFA preparation

Analyst Forum: For CFA preparation

Equity-Research.com: Good articles on Equity Research

Hedge Fund Blog: Nice articles for Hedge Fund job seekers

Mad Hedge Fund Trader: Again, do I need say more? ;)


Well, I think, referring these links will build a solid ground and I hope you'll be in a better position to make a call (and reduce spam here )

P.S. : Great work by ABCLIKS, abhmukh19, Kaaliya & naga25french :clap: :thumbsup:

411

Puyz,

I got an idea to start a discussion on "Job profiles & responsibilities after MBA Finance". As many of our seniors must be having pretty decent idea about it, I kindly request them to share their views on the same. I am concerned to know about some of the profiles. You can share which profile you're interested in and those who have a fair idea about it, can guide you in a better way. How does it sound?

For starters, I'd like to know about following profiles.

1) Equity Research Analyst/Associate

2) Investment Manager

3) Asset Manager

I have basic knowledge about all these profiles but I'd like to know more. For instance, many of the Finance profiles involve sales as a part of the job, while other profiles involve pure Finance i.e. Equity Research. Some profiles require to put in long hours while others are not that demanding, time-wise (did I hear banking? ;)). Many other details associated with these profiles can provide some more insights.

Thanks in advance to all seniors who are willing to participate in this discussion 😃

412
Hii, i am an engineer working in a manufacturing company...i always wanted to pursue MBA- finance...however, with the kind of circumstances at the time of graduation, i could not secure admission in any of the top b schools....
currently i am having an experience of2 yrs, by the time i take admission next yr its gonna be 3 yrs...
Now all this experience is non finance..(its more suitable for operations)..
However...but original passion remains with finance....
so my query here is, how good an idea it is to pursue finance after working in non finance field for 3 yrs....both in terms of value addtion and the kind of roles offered at the time of placements...
Just to brief abt my acads,,
10th- 92%
12th- 89%
Grad- 59 % :(....( am i eleigible for top co.s ???)


Somebody reply plzz
413
Puyz,

I got an idea to start a discussion on "Job profiles & responsibilities after MBA Finance". As many of our seniors must be having pretty decent idea about it, I kindly request them to share their views on the same. I am concerned to know about some of the profiles. You can share which profile you're interested in and those who have a fair idea about it, can guide you in a better way. How does it sound?

For starters, I'd like to know about following profiles.

1) Equity Research Analyst/Associate

2) Investment Manager

3) Asset Manager

I have basic knowledge about all these profiles but I'd like to know more. For instance, many of the Finance profiles involve sales as a part of the job, while other profiles involve pure Finance i.e. Equity Research. Some profiles require to put in long hours while others are not that demanding, time-wise (did I hear banking? ;)). Many other details associated with these profiles can provide some more insights.

Thanks in advance to all seniors who are willing to participate in this discussion :)


Very broad queries Bourne, and generally a good way to start your thinking. I'm sure you will get good responses too.

Unfortunately I personally wouldn't know where to begin or end on a topic this broad. Do shoot specific questions if you have them, and/or maybe I can chip in when the discussions become more crystallized.

Adiyogi
414

hello guys ...I will be doing MBA from say 30+ ranked B schools my question is from here what are the steps that I should take to reach the profiles offered similar to say big A,B,C,FMS XL....or it just an impossibility and i should not invest my time in it and look for other options