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Thread: Transitioning to a Career in Finance...

  1. #11
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    Re: Transitioning to a Career in Finance...

    Hi Ashish,

    I understand your point. But if you don't know which area in finance you want to be in, then how'll you know which certification to choose? It's like engineering...say you wanted to do Electronics Engineering, then you'll do every course and certification related to Electronics. If you start with Mechanical, though it's engineering, it'll be difficult to get an Electronics engineering job. Before you invest in CFA, FRM, CFP, CMA or a series of NCFMs etc., it's good to have a basic idea of where you'll end up with that course/certification.

    So right now your best approach can be to do courses which are more broad in scope. Also talk to professionals who are in different finance profiles and ask them about their job. If you start a Math Finance or MBA program, then your internships will give you a better idea.

    - Sougata

  2. #12
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    Re: Transitioning to a Career in Finance...

    Thank you Sougata.
    I see your point but it's difficult for someone with no finance experience to make the right choice. There are many finance career tracks and it's definitely confusing. What do you think will be a good start?

  3. #13
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    Re: Transitioning to a Career in Finance...

    There are some very good resources available related to careers in investment banking and investment management. You can download from:

    http://www.4shared.com/file/152871979/c ... reers.html
    http://www.4shared.com/file/152872164/b ... nking.html

    Richa Paeriwal

  4. #14
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    Re: Transitioning to a Career in Finance...

    Hi Frenzs,

    I would like to have your opinion/feedback about whether academic finance should change or not in view of the present financial crisis.

    Rakhi Sundariyal

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    Re: Transitioning to a Career in Finance...


  6. #16
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    Re: Transitioning to a Career in Finance...

    Quote Originally Posted by Rakhi Sundariyal
    Hi Frenzs,

    I would like to have your opinion/feedback about whether academic finance should change or not in view of the present financial crisis.

    Rakhi Sundariyal
    I think Indian B-schools should encourage more practical approach to finance. It seems that even IIMs encourage rot learning as most of my friends keep mugging whole day. Students should focus more on practical application and work on live projects.
    I think the Bschools should partner with finance companies and get projects that will help the students to understand the real corporate world.

  7. #17
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    Re: Transitioning to a Career in Finance...

    Can someone plz explain what kind of jobs are available in firms like Morgan Stanley or JP Morgan? They have so many divisions and job profiles. So I am really not sure what is the work in those different departments.

  8. #18
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    Re: Transitioning to a Career in Finance...

    Dear Nidhi,

    Morgan Stanely is a global integrated financial service firm with more than 600 offices throughout the world. It's main business areas are as mentioned below:-

    a) Investment Banking
    b) Asset Management
    c) Risk Management
    d) Financial advisory services.
    e) Sales & Trading
    f) Wealth Management.
    g) Operations & Business Services.

    JP Morgan is also similar to this.

    -Md Akram

  9. #19
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    Re: Transitioning to a Career in Finance...

    Akram has stated the different divisions present in some of the big financial services firms. Prior to 1999, there was a Glass-Steagall Act that did not allow financial institutions to offer both banking and security services. It was replaced by the Gramm-Leach-Bliley Act as it repealed the Glass-Steagall Act's restrictions on bank and securities-firm affiliations. Many people blame this Act as a cause for the financial crisis and creating banks that are too large to fail.

    I'll like to explain the divisions of a financial services firm in a different way. Let's compare a financial services firm to a manufacturing firm. A manufacturing firm will have a supply chain division to procure raw materials, an operations division which will produce the products and then a marketing division that'll take care of the distribution.

    For a financial services firm, the basic raw materials will be talented finance professionals and money. Some of the employees will be involved in producing finance products. They are the people who'll come up with derivatives like CDOs, CDS etc. The Institutional Services division is involved in the production and generally consists of the Investment Banking, Investment Management and Research division.

    The Wealth Management division deals with high-net-worth clients (very rich individuals/families) and helps in the distribution of the financial products. The Asset Management division manages clients' investments by offering products like Mutual Funds etc. These mutual funds are offered to both individual and institutional investors (a big company with a lot of money to invest like a pension fund).

  10. #20
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    Re: Transitioning to a Career in Finance...

    Thanks Sougata. I like the comparison.

    Regards,
    Nidhi

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