Leicester Masters in Finance

I am currently interested in investment banking. What are the academic(MSc. or MBA or other) and CFA requirements to work in this field for one one the big companies in the sector (JP Morgan, etc.)?


Check some Internet jobs boards to see what they want in a candidate.


Here are a couple of job listings that I found: (You might like the first one)

http://www.jobsinthemoney.com/guest/viewjob.cfm?JobsID=193977

http://jobsearch.monster.com/getjob.asp?JobID=26817493&AVSDM=2005%2D05%2D11+09%3A29%3A18&Logo=1&q=investment+banker&sort=rv&vw=b&cy=US&brd=1,128,1862,1863

http://jobsearch.monster.com/getjob.asp?JobID=30099326&AVSDM=2005%2D05%2D13+10%3A44%3A18&Logo=1&q=investment+banker&sort=rv&vw=b&cy=US&brd=1,128,1862,1863


Once you have some experience:
http://www.jobsinthemoney.com/guest/viewjob.cfm?JobsID=193977


Of course, you should look at jobs in your area to see what they want, especially if you are not in the US (these are jobs based in the US, but it never the less will give you an idea).

 

When we speak of the CFA, are we implying a person possesses all 3 level? Or does each level open certain doors?

 

Ups!! Sorry, not "3 level"but 3 levels.

 

Joi,

The answer to your question is that it depends.

It depends on what employers are looking for. Many entry-level financial analyst positions that I have looked at require that a potential candidate be a CFA Level 1 Candidate which means that they are preparing to take the CFA Level 1 Exam. In fact, it is quite common to see this phrase on many resumes. It's a way to show that you are serious about this field. Mid-level jobs and higher generally want you to be almost finished (read: at level 2 or higher) or already have the CFA credential.

The investment banking positions that I found seem to have lighter requirements when it comes to the CFA. It's more about networking and connections in your sector. BUT do not discount this credential, you are going to need it sooner or later. However, it seems that with investment banking, it is later.

Of course, depending of the jobs market, the employer might demand/require that you to have the CFA already for even for mid-level jobs. The CFA does have experience requirements (I believe 2 or 3 years). So putting that requirement for entry-level jobs is unrealistic.

 

CFA Terminology

A person with the letters "CFA" after their name is a CFA charterholder - one who has passed all 3 levels of the CFA exams and has obtained the required experience. A CFA candidate is someone who has not passed all 3 exam levels yet and/or has not meet the experience requirements.

If you are serious after pursuing a career in investment banking (and it definitely sounds like you are), you should start the CFA program as soon as possible. For level 1, you can sit for the December 2005 exam or June 2006 exam (not exactly sure about dates). Some jurisdictions require the completion of CFA Level 1 as part of their securities licensing. As tmarca has stated, achieving Level 1 at an early stage shows prospective employers that you have the desire and aptitude to succeed in finance.

 

Here is another idea. Since you are considering obtaining a masters degree in finance and the CFA designation, you could achieve both goals by selecting a masters program that is based on the CFA curriculum. One such DL program is the Masters of Science degree - Financial Analysis major offered by the College for Financial Planning:

www.cfp.edu

This program is regionally-accredited and costs $749 per course (13 courses in total).

 

Michael, thanks a lot for the advice.

There's something that's not entirely clear to me: can I begin taking the CFA at level 1 WITHOUT any experience in finance?

 

^^^ Yes you can take the Level 1 exam without any actual financial experience. Heck, you can take all three exams without actual experience. BUT, you will not be able to receive the CFA credential (or put the letters "CFA" after your name) until they verify appropriate financial experience.

 

Michael:

The CFP program seems quite interesting. What is the reputation of this institution and the acceptability of their masters degree in the financial sector?

 

Doc:

I would seriously consider UMass. They have an MBA with a concentration in medical management. A ton of physicians are in this program--in fact, as an attorney I sometimes feel completely surrounded, we've had some lively debates on the class forums about medical malpractice. Of course, the program deals with finance as well as other B-school topics. This is all assuming, of course, that you're not looking to leap completely out of the medical field. If that's the case, then I doubt UMass is for you.

But if you really want to work in finance and start completely anew, then I think you'd be better off taking a chunk of those savings out and going to B-school in person at some top program rather than doing online overseas. My understanding is that that's a competitive field.

 

They are regionally accredited and they enjoy a high reputation in the field. IIRC, CFP (College of Financial Planning) is the owner and creator of the CFP (Certified Financial Planner) professional designation.

 

IIRC, they indeed created it, but then transferred ownership to some independent body - "CFP Board Inc." or something like that.

 

Re: Re: Leicester Masters in Finance

little fauss:

Thank you for the advice. In this case, I se several other opportunities.

In the first place, there are excellent opportunities to gain a top-rated MBA from the US, such as Duke or Indiana. Duke, for example. Duke is, to the best of my knowledge, the only program to offer an unwarranted loan to international students. Consequently, a person can continue to earn while completing the program, while differing costs to a later stage.

 

Hi,

For those considering a Finance Career but can not decide b/w CFA and a Masters Degree, heres a very good article:
http://www.analystforum.com/121304.shtml

IMHO Certification can not ever substitute an Academic qualification like a Masters degree (having said that acc to above article CFA is going to take 4yrs of ur career) , it all depends on what exactly u wanna do with the desired qualification. Reg career advancements atleast here in germany the Tarif system is pretty strong and in many corporations (both Govt and Private) ur academic standing determine the Payscale. Also elsewhere i believe that in longer run an Academic qualification is more helpful in climbing the career ladder.

By the way do anyone here knows some interesting certificates in Accounting and Finance by DL at UK/US. As an MIS Analyst i am interested in incerasing my knowledge of Financial Processes and Coroprate Acoounting/Finance, i am not seeking a cereer shift to Finance. So i guess an MSc will be too big for me and certficate should suffice. Some optione, which i am aware of are:

-Certified Financial Planner by Boston University (Still too lengthy, since i dont seek a career in Finance. But having Boston Univ on resume is worth)
-Finance and Accounting Cert by Villanova University (contents seems good but di anyone knows anything abt this Univ???)

Any other ideas.....

Thanks

WH