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about career planning in finance area...

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Hi al隱藏]

Hi all...I need u guy's advice...
here is my background:
- completed my BBA (hon) degree in Canada in 2009
- have been working in a top-tier European bank for over 1 year in operation dept

- passed SFC paper 1, 7, 8, 9

I am very interested in the finance area...and would like to develop my career in trading/dealing
but I am not major in finance...therefore I am thinking of taking the master of finance next year...

due to my inexperience, I need some advice on how I should plan my career if I would like to work in trading/ IBD...
e.g. what course I need to take...what should I acquire...how should I prepare...


would highly appreciate for any advice...any comment would help...many thanks....

[ 本帖最後由 takezawa 於 2011-8-29 12:01 AM 編輯 ]



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精選樓盤
hve you ever thought of taking the CFA exams? after the exams, it require you to have 4 years of working experience in finance area to get the designation..... (i.e. it just take your after work time to take the 3 exams in 4 years... you can support yourself financially ) (may not psychologically)
of course, once you family able to support you financially, it is good to have an MSc too...



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引用:
原帖由 takezawa 於 2011-8-28 10:15 PM 發表


Hi al隱藏]Hi all...I need u guy's advice...
here is my background:
- completed my BBA (hon) degree in Canada in 2009
- have been working in a top-tier European bank for over 1 year in operation d ...
Everyone wanna work in trading and IBD coz of the money, but have you asked yourself what do you really like to do and what are you good at?


Being a trader doesn't mean you can make money If you're not good, you will be sacked the second day.
Same applies to IBD.


If you wanna join these departments, show that you have the insight and qualities to contribute significantly to them which is way more demanding than what a Master in Fin or a CFA can offer you.








Doing a MSc Fin is what every ordinary man could think of to try to get into an ibank. Sadly these departments don't want average joe.











Think carefully. People make money because they're good at the things they're doing.
P.S. Operations hardly gets you into these departments. Source: I have worked in Ops in the best ibank.

[ 本帖最後由 uslfd 於 2011-8-30 04:06 PM 編輯 ]



I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.

-  Alan Greenspan

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回覆 3# 的帖子

thanks for your advice...totally agree with you...one shouldn't find a job that just because it can accumulate wealth...more important is a job that fit your personality and ability...otherwise you won't success from there...

I was thinking with this perspective before I came to conclusion...

therefore I would need your advice on how I can prove myself,what do I have to acquire?
If CFA and Msc in Fin is not enough...

I work in operation...find out this job were too ordinary...and I don't want my career ending up like this....therefore I need a change before I spend too much time here...one thing I really want to know from you...how did you get out from opts? how did you plan at that time?

thanks in advance...



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原帖由 hcchan1437 於 2011-8-30 12:23 AM 發表

hve you ever thought of taking the CFA exams? after the exams, it require you to have 4 years of working experience in finance area to get the designation..... (i.e. it just take your after work time  ...
ya...I will take the CFA exam next june hopefully...and I am ready to spend every single holiday to achieve my goal...
I rarely feel tired or pressure on anything...my mentally should be able to support me on this...

but is CFA and the degree alone enough?
actually what's more important is how I should prepare...
more specific...where should I go...
what kind of position doesn't require relevant experience but can lead me to trading at the end...
I don't mind going to the bottom with my salary cut half...I just want to learn...want to get the exp....
I do not want to stay in operation...but I don't have the competency to go to trading yet...
where should I go during this transitional period....

that what I would like to know from you guys...



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I admire your planning, it's very good for you to start planning now to develop a career that you like.

If you are already in the ibank industry, I can tell you the chance of switching from ops to trading is relatively slim nowadays. don't listen to the HR about mobility, it's all BS.

My friend works in a prominent European bank with a canadian degree and MS in Fin from HKU - well, he's working in risk role now.  you'll be surprised that only a few on the trading floor have CFA, it's more useful for those in asset management field to show off their qualifications when luring clients for multi-million investments. To work in IBD, a CPA or law degree will be far more useful.  MSc in Fin is a good start but honestly in this market, it's not even a ticket to guarantee you  anything.

I would suggest you to start with local brokerage, I wouldn't eye for bulge bracket firms if you want to break into trading and IBD.  Not sure which uni you are applying for grad study, but I can tell you even NYU is considered as minority in the current batch of Capital Markets hires.  

see this thread is you want more info...

http://www.discuss.com.hk/viewth ... &extra=page%3D3



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原帖由 takezawa 於 2011-8-30 09:38 PM 發表

thanks for your advice...totally agree with you...one shouldn't find a job that just because it can accumulate wealth...more important is a job that fit your personality and ability...otherwise you wo ...
First thing first. To be honest I dun think IBD is suitable for you.
I'm not exactly sure about the HK market (coz I'm not working in HK), but I reckon excellent language capability is one of the must-have.


Honestly, my English's poor. Please do not take it personally if I say I think your English is not up to the standard you'll need in IBD where language's no longer for communication only, but for persuasion and making outstanding impression...

Same for trading. You'll have to communicate loads of info with different people, be them other traders, brokers or risk management colleagues. You can't miss a single piece of info out there. Can you handle this?  I personally find this very difficult.



I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.

-  Alan Greenspan

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CFA first


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引用:
原帖由 uslfd 於 2011-8-31 04:21 AM 發表


First thing first. To be honest I dun think IBD is suitable for you.
I'm not exactly sure about the HK market (coz I'm not working in HK), but I reckon excellent language capability is one of the  ...
I appreciate your comment, it's very important for me to learn my weaknesses in order to develop my plan,
actually you are right, almost all the staffs on ibank floor are native english speaker.
I think I should focus on going to trading, though it may be very difficult to go in, and even harder to survive, I will do my best...
therefore I would be very grateful if you could give me some hints on how I should prepare...what can I do to increase my chance?

just want to clarify, Trading is just my ultimate goal, I understand this is impossible to jump from operation to trading right away,
therefore in my plan I would like to find out what kind of job role I should start, which can get me closer to the "goal"...

Thank you so much...



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原帖由 AHB11 於 2011-8-31 02:35 AM 發表

I admire your planning, it's very good for you to start planning now to develop a career that you like.

If you are already in the ibank industry, I can tell you the chance of switching from ops to  ...
I knew about the mobility thing in the company, and I learnt from the former colleagues that the alternative way out for ops probably would be Business support,
actually my friend who work on the trading floor told me the same things too, he said CFA is not important but your networking.

you know what, the reason I am taking CFA is to prove my ability, increasing my chance to get the admission to go in,
I don't want to just sit here and do nothing, therefore I am thinking to get as much qualifications as I can, and I can strengthen my knowledge as well.

perhaps I will do a research on the local brokerage firm over the weekend, and see what kind of role I can apply for.

Thanks for the link and your comment by the way...very helpful



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