Has anyone done the CFA (Chartered Financial Analyst) Quaification?

Question

I am a CIMA accountant with a Consulting background. I have no FS experience. How can I move into investment banking? Would it help to study for the CFA exams? (I am 31 years old)

Answer 1

Speaking from experience, seeing as though you're already 31 the only chance you have of getting a decent paying IB job would be to give free handjobs to the senior managers of PwC. Don't bother with KPMG or EY, they prefer em a bit younger.

Answer 2

In terms of  racking up impressive credentials, passing the CFA will definitely do that -----BUT there's a tiny chance it can push you over the edge and  subsequently  some people  might  view you as overqualified on paper. So it's a double edged sword. But my vote is that you go for it because in the process, connections can be made and not just any old connections but connections with like-minded people! And that's golden.

Answer 3

Depends what you want to do in an IB. If you want front office work then CFA might be useful, otherwise your CIMA should be enough to get you in. Perhaps gain some FS experience in a custodian first as it will be less pressure and you'll get a handle on financial products, then move to an IB or asset manager.

To be totally honest though, you should stay away from IBs. It will ultimately be an enormous waste of your life. Do you really want to be looking at 400 Excel spreadsheets at 2am in the morning?

Yes the pay is good, but it's not THAT good considering you are doing the work of about ten people. Think very carefully before you let the IB world take over your life.