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Thread: Transitioning to a Career in Finance...

  1. #41
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    Re: Transitioning to a Career in Finance...

    Shiva,

    Adding to neetu's post, do you think after completing CFA do we still need an MBA to get into Finance.
    As I have seen many people who are doing CFA and MBA parallely. What for these people are going : Corporate Finance or Equity Research??
    This question has always been in my mind. :?

  2. #42
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    Re: Transitioning to a Career in Finance...

    You have mentioned that you did an MBA...do you think that after an MBA you'll still need a CFA?
    Which one will give a better understanding of finance concepts?


    It totally depends on what you want to do. For example if you want to be in corporate Finance you might not need a CFA. You can be a investment banker too with just an MBA. Moreover if you have been working in Finance domain then MBA should be sufficient to take you further. CFA is more for in depth knowledge than anything else

    Adding to neetu's post, do you think after completing CFA do we still need an MBA to get into Finance.
    As I have seen many people who are doing CFA and MBA parallely. What for these people are going : Corporate Finance or Equity Research??


    I definitely think MBA is a much broader degree than a CFA. Best part about an MBA degree is that you will be enrolled in a fulltime (that is if you plan to do a full-time which I believe you should, part time MBA is like a half baked cookie!). In an MBA you learn through the experience of others,there are no age barriers as you collaborate and compete with broad demographics,you discuss current topics and economy every day. You are updated with the current trends in all sectors which will help you in a long way. For example you know lot more about the model behind an IPAD launch at the same time you also know why the government is cutting interest rates or why are banks called too big to fail!.I sat next to a senior VP of a firm during the MBA program and I believe that was a great take away for me.These are leadership skills which you can not develop in a CFA certification as it is not a classroom course. People do their MBA and then add further detailed knowledge through a CFA. This question is similar to a question that I am a sun certified Java professional do I still need a engineering degree to work at Infosys/TCS/Cognizant etc? My thought when I was working with Infosys was that I could have done this job just by learning some programming languages and not wasting my time in Engineering. But what I have learnt is your degree does not give the exact skills for your job but it gives you the mindset to think the way you do. Engineering degree makes you want to think analytically and quantitatively and ask good questions. I know it is a long answer but I hope I was able to answer it.

    I am also getting back at writing blogs (I started and then stopped doing that but this time I hope to be inspired by readers and hope to play a long innings).I will be publishing articles on numerous questions that I had.I am planning to publish articles on these topics and hope you enjoy reading them. My blog link is below

    http://howtofinancecareers.blogspot.com ... -blog.html

  3. #43
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    Re: Transitioning to a Career in Finance...

    Hi All!
    Starting off my first post here with a query - I am a mechanical engineer working in the field of project management (with ITC) for 22 months now. And I am planning to switch to a finance career. I have two questions:

    1. How can my present profile be leveraged/ connected to finance? Currently it involve management rg: design review, managing contractors, govt. liasoning, quality reviews etc etc
    2. I am planning to prepare for CAT '10 along with CFA Dec '10 :roll: , so that by the time I enroll for an MBA I'll have L1 clearence. Is it a tad too ambitious?

  4. #44
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    Re: Transitioning to a Career in Finance...

    Hi Kris,

    I was in the same situation in 2007 when I was working at Tata Steel. So I can understand your situation. My strategy was to secure the MBA admission first and then go for the CFA Level 1.

    Please find the answers to your questions below:
    How can my present profile be leveraged/ connected to finance? Currently it involve management rg: design review, managing contractors, govt. liasoning, quality reviews etc etc

    From my experience, finance firms will look for the analytical skills that you have acquired in your previous job. Also your ability to multi-task and manage different projects will be useful. Industry knowledge helps to differentiate yourself. Try to do some capital budgeting/ financial forecasting kind of work for projects at ITC.

    I am planning to prepare for CAT '10 along with CFA Dec '10, so that by the time I enroll for an MBA I'll have L1 clearence. Is it a tad too ambitious?

    I think you should first do CAT properly and then register for CFA in June next year. Getting a high percentile in CAT requires lot of hard work and focus. If you take the CFA L1 in June and have an MBA admission in a top Bschool before that, then you'll be in a great position.

    Regards,
    Sougata

  5. #45
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    Re: Transitioning to a Career in Finance...

    Thanks Shiva for grt post.

    @Shiva: But what I have heard is that CFA can be substituted for MBA. Do you feel is it correct? :?
    Moreover from what I have seen is that with MBA degree we can get into any field irrespective of our background, but with CFA it does matter a lot about our background work ex. As with you shiva, do you feel you would have got into the finance field with just CFA degree (with IT background) Or is it like MBA anyday is necessary for techie to get into finance domain.

    @Sougata: It would be grt if you can also provide your reply on this.

    Also any DG member who previously had IT background but later moved into finance with just CFA(after clearing which level) please provide his/her feed back on this.

  6. #46
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    Re: Transitioning to a Career in Finance...

    The problem I see with only a CFA level 1 or 2 without the MBA is finding a job in India. Most investment banks and other finance firms hire from top business schools and they have very small teams. Getting into those sought-after companies is difficult and MBA colleges in India are an easy way to enter these companies. Campus recruitment is much easier than trying to find a job off-campus.

  7. #47
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    Re: Transitioning to a Career in Finance...

    Thank you so much. You're right - that's the logical way. After all, CFA without a good mba won't do much good. (Unless one's from a finance background)

  8. #48
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    Re: Transitioning to a Career in Finance...

    Thanks Nidhi,

    Actually what you said is the Ultimate truth. I had been searching for this truth from DG members.
    I know its very difficult to get into finance job in India without MBA, then my big Question is whats the Worth of Doing CFA (as it is recognized as the frontrunner degree in Finance) in India?

    @Sougata: Do you feel the scenario is same in US and UK countries.
    If I complete CFA and then look for job in these countries, will it be possible for me to land into one. OR the same issue prevails over there : Need an MBA.

  9. #49
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    Re: Transitioning to a Career in Finance...

    @ optimistical: ur last query is interesting. Even I had a similar sort of question in my mind. Is it possible to get a job in US/UK after completing , say CFA Level 2 ?? Because CFA is an international degree and definitely should make one competent for such a role. The only question is "Is it possible to get a job in Us/UK from here"?? ...seriously speaking, I don't mind earning in dollars :mrgreen:

  10. #50
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    Re: Transitioning to a Career in Finance...

    Sougata and Shiva we are looking for your inputs on this as till now I know only abt you guys working in US. 8-)
    and that too in Finance.

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