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  1. #1
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    Transitioning to a Career in Finance...

    Dear Members,

    Sorry for the inconvenience. The comments section is not the ideal place for conversations. So we request you all to continue the discussion in this forum.

    The recent comments have been posted below from the following blog:

    http://www.daulatguru.com/blog/20-trans ... -our-lives


    Thank you,
    Team DG

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    Ashish:

    How can an IT guy go for bloomberg cert?

    Hi Shrikant ,

    I am currently working as Software professional in wipro. I am looking for finance job, but I know its not easy. I have gained 2/3 cert. from NCFM. Can I get Bloomberg certification or is it only for finance guys. I want to make my profile stronger to somehow get into finance field especially in Risk Management side. What is the procedure to get Bloomberg certification.

    Please help! :?:
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    Shrikant:


    Bloomberg certification is for anyone who wants to learn using Bloomberg.
    You do not necessarily have to be someone who is working in finance. The only hurdle is that you need to have access to a Bloomberg terminal.

    Generally finance firms and universities have a dedicated terminal. However, if you are interested in risk management I would suggest that you give some certification like the FRM.

    If you are just applying to b-schools I would suggest that as of now you focus more on building your fundamentals in finance by reading basic finance books. "Finance for Non-Finance Managers" might be a good start.

    Hope this helps!
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    Prashant Shrivastava:


    WOW!! a really heart-warming story!!

    Hi Shrikant,

    I am a B.Tech in Mechanical Engineering from IIT Kharagpur. I also see myself working in the field of M&A in the future. I wanted to get into investment banks as an Equity Analyst but the recession dealt a blow to my plans. For the last 2 months i have been working as a Business Analyst in a Delhi based consultancy. I am pursuing CFA charter to make a switch to finance once the market recovers.

    I also plan to do an MBA in the future but i am a bit confused here. Will it be better to do an MBA from one of the IIMs as they give better ROI or should i stick to my earlier plan to apply to ivy-league b-schools in US after a workex of 4-5 years. Also, is it advisable to enter the IIMs asap (read without much work-ex) as the iims do not give much weightage to work-ex or i should first gain considerable workex in finance before pursuing an MBA in finance.

    I hope you would help me get out of my dilemma. Thanks.

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    Shrikant:


    Hi Prashant,

    I am glad that you found my comments useful. As for you profile, giving CFA would be a BIG step towards moving to a
    career in finance especially since you want to be in M&A or equity research.

    However, it may be difficult to complete all the three levels of CFA without any finance background. However, you may want to start your CFA and try to complete your level I before your MBA and maybe then finish the other two level 2 during your MBA studies so that you would be an MBA by the time you are done with your MBA.

    This would position you well for a career with an investment bank. As for your decision to pursue MBA from IIMs or an IVY league school, I would say that the decision is a personal one and depends on a number of factors.
    Though IIMs are great schools, in my personal opinion an IVY league MBA is more valued especially if you are looking for jobs internationally. Another advantage of doing MBA from IVY leagues is the alumni. Quite a few league MBAs would be in senior management and thus studying there gives you easy access to them.

    Remember, MBA is not only about getting an education but also about making connections which will help you throughout your career. Since most of the ibanking activity is based out of offices on Wall Street studying from an IVY league will also help you be at the center of M&A activity. Still the ibanking offices in India mostly do back office work and the core work is still done on Wall Street.

    Having said that, IIMs are definitely great institution with good faculty and a great student body. As you already pointed out, it has a great ROI as well. In my personal opinion if you are confident of making it into an IVY league, have time on your hands (which means you can afford to wait for a few years before doing an MBA), and don't mind spending more money for education I would definitely advice doing your MBA from an IVY league school. If not, I can assure you that IIMs won't be a bug compromise as they are good b-school as well.

    Hope that helps. If you want to have ab extended conversation about this I would also be more than happy to talk to you over email or phone.

    All the best with everything!
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    Prashant:


    Hi Shrikant!!

    Thanks for your insight. I am giving level-1 exam in June'10 and would even try level-2 before getting into an MBA. The second part of your message regarding b-schools did not appear completely because of the word limit imposed by the website on posting messages. I would highly appreciate if you can paste again the part of you message where you compare iim's and ivy-league b-schools.

    Thanks in advance.

    ------------------------------------------------------------------------------------------------------------------------------

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    Re: Transitioning to a Career in Finance...

    Hi Shrikant!!

    Thanks for your insight. For fall 2010-2011 I will be applying for masters in financial engineering.I will start my application process by next month. For this I have reviewed my SOP from sougata and he has given me valuable feedbacks to improve it further. It would be great if you can also give your valuable tips on my SOP for improving it any futher. If you can please share your mailid with me so that I can send you SOP.

    Thanks
    Ashish

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    Re: Transitioning to a Career in Finance...

    Hi Shrikant

    Thanks for your valuable suggestions. I am overwhelmed by your
    generosity and would love to discuss more about my career with someone like you
    who has been there and more importantly gone through all the odds and emerged as
    a winner. It would be great if you can share your email id with me. My id is pretty.iitian@gmail.com.

    Thanks again.

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    Re: Transitioning to a Career in Finance...

    Thanks Shrikant for your insights.

    Though I found your email address on this website, I would prefer chatting with you in the forum so that other members can also get benefited.

    Shrikant has given his email at the end of his blog:
    http://www.daulatguru.com/blog/20-trans ... es?start=1

    - Neetu

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    Lightbulb Re: Transitioning to a Career in Finance...

    Thanks Neetu. And i appreciate that you would like to have further conversation with Shrikant on this forum so that all of us can be benefited. Looking forward to some meanigful discussion.

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    Re: Transitioning to a Career in Finance...

    Hi Shrikant,

    I saw from your profile that you are also pursuing the CFA. Did the CFA help in your job search? Would you recommend CFA to someone who is looking for a corporate finance job and not an investment related job?

    Thanks,
    Neetu

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    Re: Transitioning to a Career in Finance...

    Hi All,

    I have a question for which I need help from each and everyone using this forum.
    I am an IT guy having work ex. of around 1.3 years. I am desperate to shift into finance specially in Investment banking area. I need to know will i be able to land into any such job if I clear certification like FRM or CFA? :?

    Also can any one throw light on the prospectus of Risk Management as a carrer?
    Waiting for all your help.

    Thanks
    Ashish

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    Re: Transitioning to a Career in Finance...

    Hi Ashish,

    I am happy to see your passion to shift to finance. It's good to be motivated but I'll like to add a word of caution. Many people want to do investment banking and when they start doing it, they don't like it. So before you start this journey, do some research on the various career options in finance like investment banking, investment management, corporate finance etc. Also within investment banking you might get a research analyst position or an M&A Associate role. These are completely different roles. The path depends on your career goals. Also some profiles will be more suitable for your personality.

    So start doing this research first. Many finance people don't have any of these certifications. They are good to have but not compulsory. Once your goal is clear you'll automatically figure out the right path.

    Regards,
    Sougata

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    Re: Transitioning to a Career in Finance...

    Thanks Sougata for your reply and valuable suggestion.

    As you told me to do some research on the various career options in finance before actually landing in it. I totally agree with you, but you know until 'n' unless a person practically don't work in a particular field, he/she does not get much idea about it. I mean to say its always good if a person get some sort of exposure before finally deciding the area in which he wants to work. For this reason only I am looking for some sort of good certification in finance, so that i can land up in any good job related to it.
    Please let me know if I am anywhere wrong in my thought.

    Thanks
    Ashish

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

    It seems to be a chicken-n-egg situation. You won't know whether you like the job without doing it. And if you don't like it, you'll get stuck. So what's the solution?

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