I am passionate about finance and want to do Investment Banking. I am in the final year of B.Com from Delhi University. What should be my career path that will lead to an investment banking job?
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I am passionate about finance and want to do Investment Banking. I am in the final year of B.Com from Delhi University. What should be my career path that will lead to an investment banking job?
You can try to get into any of the Big 4 firms in India. KPMG has recently started hiring.
After some experience, you can try for an investment bank like JP Morgan etc. Meanwhile you can prepare for a certification like CFA etc. Depending on what exactly you want to do, you can choose the certification.
Also it's important to keep talking to the people in the industry. The investment bankers can tell you when a position opens in their company.
Hello,
Can u ppl give me information that what is the job profile of CFA Charter Holder....?????
Mitul Ojha
The CFA Charterholder will generally become a Research Analyst in an Investment Bank or a Portfolio Manager in an Asset Management Company. However I have seen people who are CFOs doing corporate finance and treasury work after a CFA. There are also some investment bankers doing M&A after a CFA. That's because this program provides a very solid base of various finance concepts. However this program is more geared towards financial analysis and investment management.
Just after the CFA, you can try becoming a financial analyst/associate for sell-side research in an investment bank. Also you can try to become an analyst in a buy-side asset management firm, Private Equity or Venture Capital firm. Once you get the basic financial analysis and modeling skills, try to find your interest and then decide where in finance you want to build your career.
- Neetu
Mitul,
Apart from Neetu comment, plz find that job profiles of CFA Charter Holder and candidates include:-
* Fund managers
* Analysts
* Investment bankers
* Portfolio managers
* Traders
* Accountants/Auditors
* CEO/Chairman/Partner/Principal/CIO/CFO
The CFA designation is designed to be a benchmark for ethical standards and professionalism within the global financial community.
Siddharth Jhingran
I'm a final year engineering student from Mumbai University. I was planning to get into I-Banking after engineering. I'm really interested in Finance and I'm planning to take the CFA level 1 exam this December. As of now I thought of taking the NCFM modules just to gain some knowledge. I wish to work with a boutique I-Bank before going for a top-20 global MBA program 5 years hence.
Background:
10th- 84%
12th -70%
What exactly do I-banks expect from an engineering graduate who is trying to get into I-Banking?...What should I be doing to get there?
It's good to see that you are clear about your goals. If you plan properly, then getting into an I-bank will not be very difficult.
There are some I-banks in India which recruit Engineering students for Analyst positions. Your role might be related to trading or financial modeling.
You can start studying basic corporate finance concepts like NPV, IRR etc. and try to understand how companies are valued. Also you can take the NCFM test on Derivatives and learn about Futures and Options. I think you are on the right track as you are planning to take the CFA Level 1 this December.
An important skill required by Investment banks is Excel Modeling. So you can start developing that skill and learn how to use VBA and @Risk/Crystal Ball.
You can try applying for the following job:
http://www.o3capital.com/careers/pdf/in ... anking.pdf
Also check this:
http://www.avendus.com/careers.php
I am not sure if Avendus is currently hiring or not but they do hire engineering students for Analyst roles.
All the best!
- Sougata
Thanks Sougata :)
Well, the first link you posted requires an MBA or a CA and they prefer someone with work experience...would I fit in?
Secondly, could you mention a few resources where I can learn excel modelling, valuation, et cetera?...some source that could keep it simple and explain from basics....
And yes, I've already started teaching myself F & O trading concepts..so i guess I'm on the right track :mrgreen:
hi i am also engineer and curently enrolled for cfa.
you can go through these books
corporate finance-bearn &myers.
valuation-Damodaran on valuation.
derivatives-hul
intelligent Investing ,security analysis--- Benjamin graham
financial modelling -Simmon Beninga
all cfa book by aimr will help u lot.
here are some links
http://www.careers-in-finance.com/,
http://pages.stern.nyu.edu/~adamodar/--this site will be of great help as u can through the podcasts by prof Damodaran.
http://www.financialmodelingguide.com/
have u passed out?...or are u in final yr?.Quote:
Originally Posted by satyamgairola
yea..I actually know of all those resources u mentioned except the simmon beninga book......Ive actually decided to read those books after I'm done with engg bcuz u need to devote some time for each of them which ill find after a few months...
what are your future plans?....keep in touch!
Quote:
Quote:
Originally Posted by time4apogee
I had seen that the position requires an MBA or CA but I'll suggest that you still apply. No harm in trying.
I know that the firm is hiring now. They may hire you for some other position for which your profile is more suitable.
You can start by getting the study material for CFA Level 1. That's a very good starting point.
Y ea, I've already got Schweser Level 1 material...will that do?...also,presently getting my hands on the videos of schweser
somebody recommended a few books on this thread ^^
what should i start reading first?...the cfa books or those mentioned above?
theres not too much about finance to write on my CV right now...should i just inquire about the requirements with o3capital or wait b4 i learn something and then apply??...i was planning to do the latter after completing engg...
Hi time4apogee,
Grt you have started for CFA level 1 prep.
I am also planning to go for CFA level 1 this December. Can you please let me know from where you have purchased Schweser Level 1 material?
Also as far as job is concerned, I completely agree with Sougata. Try you might get in.
I think you should also start doing course on Financial modeling. I am looking for some good provider online for FREE.
If you find any institution providing course in FM, please let me know.
Thanks
Ashish
@ ashish
whats your background...from wer r u and what do u do?
i bought the material from laxmi xerox near mithibai college,vile parle,mumbai for 500 bucks..the also courier it to your place for 100 bucks extra..
are you talking about a financial modelling course online?........maybe we can expect Sougata or any of the senior members to reply on that....I've already asked about a few things in this thread...still waiting for a reply....
dear time4apogee
As u know its very tough to get in investment banking without being CA ,B.COm from top college ,graduated from iit,iims or others top mba colleges in india.,but u can make ur profile that so u can get in Investment banking jobs in future.
ucan do a engineering job studying alll the books i have mentioned +cfa enrollment .Once u cleared cfa l2 u can look out for these jobs.
WITH CFA L2 u can go for MBA from INDIA or abroad..
Other option is like do ncfm courses ,some technical analysis courses and get job in Brokerage houses side by side u can go for cfa.AS u r from mumbai u will find lot of brokerage houses.
here r some institutes which provide short term program ,u can google them
http://www.analytics.net.in/ -PUNE provide 4 week online -5 day intensive equity research program.
http://www.austalgroup.net/education/index.htm --BANGLORE-Provide courses in Research &valuation ,Investment Banking
ARC ACADMEIA -Delhi -Arm of Botique investment bank ARC FS provide various courses .They also provide internship .
Dear optimisticAL u can learn financial modelling by practice only .Work as much u can work on excel .Hre are some free resources
http://www.financialmodelingguide.com/
http://www.exinfm.com/
Go for simon Beninga . Send me ur email id i can send u some resources
@ satyamgairola:
i'd prefer the latter...but what kind of jobs with brokerage firms should I look at ?...
u can mail me the resources at ... time4apogee(at)gmail(dot)com
dear time4apogee
if u want to be in brokerage house pass ncfm papers(derivatives,debt,dealer) as they usually required.
study technical analysis,intially simply u have to do trading for ur accounts but gradually by studying for cfa u can end up doing fundamental analysis.
here are some links
http://www.informedtrades.com ---very good website hundreds of video for learning technical analysis.
http://www.financialmodellinguide--u can find very good classrom videos of learning technical anlysis.
http://www.mergersandinquisitions.com/i ... ackground/
http://www.mergersandinquisitions.com/f ... et-school/
cheers
Quote:
Originally Posted by time4apogee
You can start with a basic book on corporate finance to learn concepts like Time Value of Money, NPV, IRR etc. You can then read the CFA L1 books.
Firms that recruit engineering students understand that you will not have much finance knowledge. They recruit because they like the analytical skills and trust your ability to learn. My friends from IITs had jobs in I-Banks without any finance background. They got the required training and they were basically building excel models.
In this case, o3 capital is a boutique investment bank and may not have the resources to train. So they'll require someone with the relevant background. However you can start talking to the investment bankers working there and try to understand what exactly is the requirement for an Analyst role.
You can start with a basic book on corporate finance to learn concepts like Time Value of Money, NPV, IRR etc. You can then read the CFA L1 books.
Firms that recruit engineering students understand that you will not have much finance knowledge. They recruit because they like the analytical skills and trust your ability to learn. My friends from IITs had jobs in I-Banks without any finance background. They got the required training and they were basically building excel models.
In this case, o3 capital is a boutique investment bank and may not have the resources to train. So they'll require someone with the relevant background. However you can start talking to the investment bankers working there and try to understand what exactly is the requirement for an Analyst role. [/quote]
Yea I already know a few concepts like time value money, etc
I did mail o3capital asking them the requirements so that i can start working on that...they replied saying that they've added me on their db...will let me know if there are vacancies...but they din't really tell me what they would want to me work on :?
@time4apogee,
I am also Engineering Graduate from BIT, Mesra. Currently I am working in Wipro Tech. in Kolkata with experience of 18 months.
I also searched for Finance Jobs(during recession :D) but didn't found any opportunity. Now I am planning to go for CFA level 1 this december.
@Sougata
Is it possible or viable enough to appear for CFA level 1this december and level 2 in the next July? 8-)
Thanks
Ashish
Yes, it is possible to pass the Level 1 in December and appear for the Level 2 exam in June.
I am doubting how much work you have at Wipro Tech.
;)
@Sougatada,
If I plan to appear for CFA level 2 next June, then can I purchase the material of this year and start preparing.
Will there be much change in the syllabus?
u mean your planning to study for level 1 and 2 simulteously?? :shock:
actually even i had the same question in mind, esp bcuz many others mentioned that level 2 in june will be diff if u take level 1 in dec....but no option now...gotta take L1 at the earliest...tht's dec....and then will take L2 the following June.
the syllabus varies marginally...around 10-15% every year..tht's what I've read...
Hi time4apogee,
Ya, if we start preparing from now onwards we will have plently of time. I think we can make full use of this time so that we can prepare both for level 1 and level 2.
Also today I talked to Laxmicenter and they told me that CFA level 1 material will cost around Rs 1000 + courier charges. But I have seen that u have mentioned earlier somewhere in the thread that the cost of material is 500 + courier charges. I am confused. :?
I understand that you guys want to best utilize your time. However studying for the both the levels will be a daunting task.
You will be allowed to register for the CFA L2 only if you pass L1. Last year the CFA Level 1 pass rate dropped to 34%. So I will suggest that focus well on Level 1 only. It's not only important to pass but also to build solid concepts.
http://www.businessweek.com/news/2010-0 ... -says.html
The syllabus does not change significantly. So if you have time and want to do some extra readings, you can obviously do it.
@ Sougata: Hey, the results of the Dec 2010 Level 1 exam will come out somewhere in the latter half of Jan right??...u mean I'll be able to register only after that for Level 2??....what If im confident of clearing it and want to register beforehand?
The CFA Institute doesn't allow you to register for Level 2 without passing Level 1. So that's not possible.
If you are confident, you can start preparing. But registration will be only after the results.
oh alrite....thnx :)
dear time4apogee
If u r sure for appearing cfa1 in dec than enroll earlier u will have two benefits ,first u will save money,second u will get AIMR material as u enroll fo progam and its very good study material which help starters who have no backgound in finance .
Scheweser notes are good but they are good for persons having earlier finance background ,currently working &lesstime.
how much time wud it take to read thru the institute material?....i haven't seen them as of yet..tht's y im asking....many pple say its really vast and thts y they prefer schweser.....n how about schweser videos??...r they good enuf?....what about doing schweser videos+notes?Quote:
Originally Posted by satyamgairola
Many candidates rely only on Schweser notes. However I had used the CFA Institute study material when I was preparing for the Level 1. I found the CFA Institute study material really exhaustive. It was very good for developing a good understanding of the topics.
If you have less time and just want to read enough to pass the exam, then the Schweser notes will be sufficient. The videos are also helpful.
Dear Team DG,
What are the different job opportunities available after passing the CFA Level 1 or 2 exam? I want to know more about the job profiles.
Thank you,
Naveen
Some please provide more insights on the Job profiles after clearing CFA level 1 & 2.
Hi,
I have done some research and found that following types of firms can hire CFAs:
Investment Companies
Mutual Funds
Private Client Wealth Manager Advisor
Hedge Fund
Merchant Banks
Insurance Companies
Investment Bank
Investment Research Firm
- Neetu
""Quote:
Originally Posted by optimisticAL
I'll try to give you some basic idea about jobs after the CFA Level 1 &2 and try to avoid the MBA jargons. :)
"CFA" as you know stands for Chartered Financial Analyst. So basically at the end of all the exams, you'll be trained to become a Financial Analyst. So which firms require financial analysis?
An investment bank can require financial analysts for researching stocks and those jobs are generally referred as "Equity Research". Also you can work on the Corporate Finance/M&A side of an Investment Bank.
An investment management/asset management firm manages other peoples' money and invests in various assets like stocks, bonds etc. So they need Financial Analysts to find which are the best investment opportunities. I am not going into Private Equity or Hedge Funds to keep this discussion simple.
Also non-finance firms like Google or Amazon require people in their finance departments to conduct financial analysis. They have a Corporate Strategy team which is involved in Mergers and Acquisitions. So these firms can also hire you for the financial analysis and valuation skills.
There are other opportunities available in Private Wealth Management etc. You can do more research and explore different career tracks. I just tried to give you a brief idea of what's possible after the CFA certification.
Thank you for the reply. I like the simple explanation.
It was helpful.
Thanks Sougata for Wonderful reply.
Hope to hear this type of insights regularly.
:)
@ Sougata...thnx for the explanation.....
Well, when I started this thread I began with a few generic questions which really attracted quite a few replies...
Now I'm faced with even complicated questions :? ...I would be glad if a few seniors could help me out....
First of all, is it possible to get into a front office role in corporate finance/M&A with a boutique right out of engg?....I'm not from an IIT or NIT...and don't have excellent acads as such...is it still possible if I work hard from here on?...
...I've got multiple negative suggestions in the past regarding the same and some people telling me that even a CFA might not help. :?
I presently have an offer on campus from Patni, but I'm sure that I don't wanna take that up..So what options am I left with?....I wish to do an MBA after 4-5 years so I can't bank on an MBA to get me there.....is there anything that can get me into a good front end job....I would just be a CFA level 1 candidate when I'm out of engg in July, so how could I sell myself?...
Last thing I want to happen, is that I register for the CFA L1 this Dec, and do get a finance job and hence end up in Patni rather than sitting at home. What will happen is that I'll screw up both...Patni training and the CFA....so I really wanted a few seniors to advice on this...Please! I have to take a decision this week and register for the Level 1 exam....
Thanks a ton! :)
Honestly a front office job in an investment bank just after engg is very very tough.
The problem is the big investment banks will hire very few people and that too from IITs. Even the small ibanks like Avendus hire from high ranking engg colls and people with excellent acads. You'll need to find some people in those firms to push your resume. There won't be any use applying on their career website.
- Neetu