Currently, I am a junior studying economics at Syracuse. Once I graduate I plan to move to NYC to become a financial analyst at an investment bank. I will spend about 4-5 yrs in that industry before going back to school for my MBA. Also plan on getting my CFA destinction during that time.
My question is whether this is a feasible career path? Is it realistic that I can work the intensive hours as an analyst, study for the GMAT and CFA exams, and have a personal life? Do most I-bankers who get their MBA, get all three levels of the CFA before going back to school?
2007-07-13 03:29:21 · 8 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment ➔ Other - Careers & Employment
Yes, this is a "feasible", but it is extremely difficult. Let me underline *extremely*
Assuming you get that first job at an i-bank, you will NOT have a personal life. First, if you work at an i-Bank - you will not have a life. You will work 80 hour weeks. You will be up until midnight every night, work weekends and not be able to take any of your vacations unmolested. I know. I did investment banking. Goodbye family. Goodbye girlfriend. Goodbye other friends. It's work, eat three meals/day at work, shower, sleep 6 hours, get up, do it again. Repeat forever. Pray for a business trip because then there are time when you can actually sleep. Have you ever noticed that there are no old people in investment banking? They all burn out. I did.
You will need to take the CFA level 1 exam ASAP if you want to go down this path because, believe it or not, you will not have any more time than what you have right now. You may be taking 20 units per semester. The CFA takes about 250 hours in 6 months MINIMUM to pass. Some people need much more. Try to study the GMAT on top of that??? Goodness gracious! You will also need to bone up on accounting before you become an analyst. You can demonstrate your knowledge of accounting by taking Level 1.
Most ibankers who get their MBA do NOT have their CFA because the job is so demanding. Many, many try level one and fail, belatedly finding out that it takes more than brains, experience and good looks to pass the CFA Level 1. It takes study time... no substitute.
2007-07-14 02:00:09 · answer #1 · answered by csanda 6 · 1⤊ 0⤋
Cfa Investment Banking
2016-11-11 02:51:56 · answer #2 · answered by ? 4 · 0⤊ 0⤋
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RE:
MBA/CFA with investment banking career?
Currently, I am a junior studying economics at Syracuse. Once I graduate I plan to move to NYC to become a financial analyst at an investment bank. I will spend about 4-5 yrs in that industry before going back to school for my MBA. Also plan on getting my CFA destinction during that time.
My...
2015-08-06 17:28:27 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I'm in the same boat. Very difficult, but my strategy is working in a more time flex. I work as an investment analyst for a brokerage house. No sales, but helping the sales force and managing assets. This get my CFA work req. completed. I have more time to work in tandem the CFA and MBA. once I finish the level three and finishing my MBA i will jump to associate position...
2007-07-14 08:51:01 · answer #4 · answered by JAE82 1 · 1⤊ 0⤋
Csandra is the voice of experience and has it exactly right. I would say the GMAT is the easy one in the list you have specified - much of that you should know from school, You can get that out of the way - can improve your math score, but doing plenty of sample questions - the formuals involved are quite straightforward. The English is much more subtle. I found that more difficult, as not such clear obvious solutions as in the math.
I consider that i would be extremely difficult to pass CFA 1 unless you are working in the finance field and put in a lot of study.
2014-05-08 04:41:28 · answer #5 · answered by stephen 3 · 0⤊ 0⤋
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2014-07-16 02:32:14 · answer #6 · answered by ? 1 · 0⤊ 0⤋
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2016-03-18 23:26:21 · answer #7 · answered by ? 4 · 0⤊ 0⤋
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2014-07-17 05:35:21 · answer #8 · answered by ? 1 · 0⤊ 0⤋