| Topic Name: |
Investment Management |
| Message Name: |
First |
| Date Posted: |
03/18/2002 |
| In Reply To: |
I never thought I would find a field that I would love, but asset management is it. Unfortunately, I have very little experience in the industry, and I would like a critique of my career and educational plans.
First some background: I started out at the beginning of 2001 as a client administrator in a wealth management firm with approximately $200 million in assets. I am now on a 3-month review to become a junior financial analyst at the firm, under a wealth manager who manages about $80 million of the firm's assets.
Here is my plan...
1.) I am going to tackle the CFP designation over the next two years while I learn the analysis and planning business.
2.) Then, I will be going for my MBA part-time to build on what I have already learned. During this time, I will continue to work at my firm, and get more responsibilities, including co-managing that $80 million in assets.
3.) Once I have completed the MBA, I will be switching firms. I want to become a research associate at a mutual fund company or an investment bank, under a portfolio manager. I will obtain my CFA license after I receive my MBA, and at this time, I hope to be promoted to a portfolio management position.
Please tell me if this is feasible, and post your thoughts and comments.
Sincerely,
Morgannon |
| Message: |
You should talk to people senior in your firm for their impressions. Hopefully they are knowledgable and have some experience at a top firm that they can draw on.
You're definitely on the road to working your self up the path. No doubt you should take comfort in that you're by no means the first to do so on Wall Street.
I do not work in investment management but am seeking work in it. My impressions of your plan:
1) I would start the CFA right now. It is, in my belief, not as difficult as people say; it is roughly equivalent to haven taken an advanced undergraduate econ, finance and accounting class.
The CFP is a non-designation in research and asset management. CFP might only be applicable in a private client group if that's where you want to be.
2) I do not know much about part-time MBAs but if it helps you get more responsibility where you're at, go for it. Note that a large number of people in investment management have CFAs in place of MBAs. But the MBA, done right, is an academic more than a professional credential and you may need it to add to your academic credentials if you don't already have a top undergraduate credential.
Best wishes.
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