| Topic Name: |
CFA Level 1, now what |
| Message Name: |
Boston is tough right now |
| Date Posted: |
08/21/2002 |
| In Reply To: |
Whew, just passed CFA L1. I'd like to get some ideas and opinions on what I can do with it, if anything at this point.
Background: Well, next to zero finance or investments experience; about 5 years in IT, currently a system architect designing database and web app systems; programming guru. Education is MS Elect Eng, and MS Comp Sci (did a lot of night school on employers tab). Pretty good with advanced quant & stats, but not a lot of on-the-job experience using it.
Synopsis: Getting bored with straight IT, even wondering if it is really such a good long-term career choice for someone who wants to go places. Long term, would love to move into an asset mgmt position which is heavy on quant and computer-oriented somehow.
Studied hard for L1 and passed. Call me weird but really loved the subject matter.
Here are some options. Any thoughts?
- Sit tight, study for LII. Enjoy current job security (real or imagined, but better than it would be if I do any of the below).
- Get an IT job doing non-finance stuff at an investment mgmt firm. Ho-hum, but gets me in the door.
- Get an IT job doing investments related computer work at an investment mgmt firm. Would be great, but what are my prospects given current market and my background.
- Go cold turkey, throw away the IT and get a investment analyst position at an investment mgmt firm. This sounds tough and risky to me.
Hmm, anyone been where I am before? If I look for another job, I am really constrained to the Boston area for the next several yrs at least. Any advice; what is the current situation in the Boston area for this skill set and goals?
Thanks, SL.
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| Message: |
Short-term:
Boston is the worst place in the world to look for an analyst job right now- huge talent pool + little demand= no jobs. If you can do it right now, kudos to you.
Long-term:
Boston has a ton of buy-side jobs and you definately have a marketable skill set. I'd think about getting a foot in the door at an asset management firm (not sure how much you make now but you may have to take a pay cut). Be careful, though, you should talk to the managers and let them know your career goals(without sounding like you want to jump ship first chance you get) and make sure you won't get stuck in a "track" that doesn't lead to analyst. I would strongly suggest you look at smaller firms, as places like Fidelity don't provide much movement around the company. Try to find a job (maybe even IT) that gives you some access to the Portfolio Managers. Build relationships with them and the analysts and once you get to know them let them know your long-term goals. Your programming skills are terrific to have and definately set you apart. Talk to firms and find out how they organize their analysts- some just have general analysts and some have industry-specific analysts. You may be able to find a firm that needs an IT/Tech analyst and you could fit the bill. Also, join the Boston AIMR ASAP and start networking. If you hit it off with the right person at a networking event, amazing things can happen. You need to be creative because you won't find analyst jobs on Monster.com these days, you need to network in. Hopes this helps and good luck,
-D
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