Getting into finance.

Mulder

Mulder

Mulder

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Joined
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Bucks
So, I've finally decided what I want to do after considering all my options and firmly deciding on a uni course. I'd like to go into derivatives trading, hedge funds or some type of fund management. I've got a place at York to do a BSc in Management, which will allow me to study certain units which may exempt me from professional qualifications such as the CFA exam. I've got pretty decent GCSEs and A-Levels in the "right" subjects and now have a years experience working for a private client tax and accountancy firm in the city. I'm hoping to get a 1st and then get an internship at a city bank and go from there. So, now I've blown my own trumpet I'll get to the point of this thread:

Does anyone with experience in this type of work think my "plan" is sound? Is there anything else I need to do? What are my chances of getting a place on the "top" internships and the most desirable banks? And generally any other advice.

Thanks for reading :)
 
it all comes down to how well you actually do at uni/luck/interview/performance on bank tests/other useful skills(languages etc)

and what dept you want to be in exactly

i think?
 
Hey, sorry for bringing this back to life..just saw it myself. The CFA Chartership is a good qualification to have, i have just started studying for the level 1 exams myself in December. I don't know that you can get exemptions from them though. I have two 3 hour, 120 multiple choice questions, and i have to answer every question on there. I have a degree in Economics with a strong Finance streak running through it, and every person on the course that i am on has done either Accounting, Auditing, Finance or something like that, but no one has been excepted from anything. Quite a few have been working in industry for a year or two, so i very much doubt that you will be exempted from everything, as the your admission to the CFA Chartership depends on your performance in their exams, not in other exams, because it is set so that it is absolutely the same for everyone. At the most, you will have an advantage when studying for certain topics. To give you an example, i'm currently doing Portfolio Analysis, Quantitative Methods, Ethical behaviour and performance standards, Economics, Derivatives and plenty more, and there is no way that you will have covered even half of it before you start the course.

Graduate wise, it is a good qualification to have, i will be looking to finish my masters with CFA Level I and Level II passed, and that then gives me a big advantage when applying for certain roles within the finance industry, as well as an MSc in Financial Analysis and Fund Management. The downside is its an incredible amount of work, on top of my masters, so my social life has pretty much stopped for the time being.

Internships are a great way to get into the industry, if you are prepared to work for them. In finance, it is often who you know, not what you know, that gets you that initial foot through the door, but you have to have the skills and knowledge to back it up.

I'm looking at going into Asset Management, so maybe we'll cross paths one day ;) Whatever you do, good luck!

Si
 
york is a good school, recognised by recruiters at the BB firms. the management course is less prestigious - they were taking people with 220 points through clearing.

however, a solid years experience is good - you have to pitch it in the right way of course.

don't worry too much over a first; it's much more important to build up the other skill sets recruiters look for - most new city grads play some team sport or have a plethora of ECs.

make sure you are on for a 2.1 and have a position of responsibnlity at uni, a couple of societies etc
 
Thanks for the advice. Couple of other questions for you:

I'm considering changing to PPE, would this be a wise option? Would it have any repercussions if I chose to study towards a CFA qualification?
 
Mulder said:
Thanks for the advice. Couple of other questions for you:

I'm considering changing to PPE, would this be a wise option? Would it have any repercussions if I chose to study towards a CFA qualification?
Click to expand...


How do you mean repercussions? The CFA Chartership is inderpendent of anything else, you need a background knowledge of finance to be able to understand it basically, but the books are written as a home-study kit. They estimate a minimum of 250 hours for being able to take and successfully pass the level I exam. There aren't any requirements to try to take the CFA, apart from you having a degree I believe. But you can study for it whilst working, whilst doing a masters like I am or without any other work what so ever.

And what is a PPE? I haven't heard of it before.

Si
 
siandtina said:
How do you mean repercussions? The CFA Chartership is inderpendent of anything else, you need a background knowledge of finance to be able to understand it basically, but the books are written as a home-study kit. They estimate a minimum of 250 hours for being able to take and successfully pass the level I exam. There aren't any requirements to try to take the CFA, apart from you having a degree I believe. But you can study for it whilst working, whilst doing a masters like I am or without any other work what so ever.

And what is a PPE? I haven't heard of it before.

Si
Click to expand...

Apologies for the belated reply, PPE is an acronym for Politics, Philosophy and Economics.
 
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