I am 33 and have done PGDBM(Finance) in 2010. I am in family business of Civil construction since 2002. Our business is in bad shape so I am think of moving out of business and take up job in Financial sector to support family and other expenses. Will doing CFA simultaneously be of any help?
I am also not sure if I’ll get a job in finance sector without any experience. Which areas would be the right to look for job?
Hey Sophie, mitch thanks a lot for your feedback.
I do have an exact area in mind, an analyst. Secondly I want to pursue CFA besides job not before. I have Post Graduate Diploma in Finance and enjoyed when I did it and also I dont have any formal education in Civil construction area, thats why I want to go after Finance sector.
I am not looking for a big paycheck neither am I expecting it, but I know I will enjoy working in that sector specially as an analyst.
Sophie you seem to be quite experienced in this sector, any particular area/s according to you, after going through my reply, that might be suitable for me. I have decided to brush up my knowledge before going in for any interview. Any tips from your side is welcome.
Hey @amitk – analyst role sounds great. It would be a battle but I think what’s useful is if you keep reporting back to us on the feedback from the interviews you’re going for. As perception and job market differs from region, all we can help is advice based on the feedback you’ve got and what role you’re going for.
For now, I’d say apply for roles that you think you qualify/meet the requirements, and see what they say. But yes, brush up on finance skills, market news relevant for the role and see where it gets you!
Hi @amitk – any particular area in finance?
What area did you work on in your family business? There could be relevant experience you could bring on to the table in your interview. Deciding to embark on the CFA journey does take commitment and results aren’t instant in the job search of course. It also takes interview skills and your ability to demonstrate relevance of your experience that you’d bring in the interviewed role. Finance is pretty broad, it helps if you have a narrower scope in mind too.
That said, I’d say go ahead and start looking for jobs in finance and see what feedback you get. I think that’ll help shape your strategy and decision on whether this is something you’d like to pursue.
As Sophie says, it depends on which area of finance you want to get into. In most cases employers are looking for experience (and in fact you wouldn’t be able to use the CFA designation until you gained sufficient industry experience).
Embarking on the CFA will certainly teach you a lot, but it might also distract you from other activities that may improve your chances of getting and excelling at a career in finance (in the early stages at least). Also it’s a fairly long-term journey — I read that most take around 4 years to pass the 3 exams…. It’s not something you can decide to do and then walk away with the CFA Charter 6 months later.
Carefully consider whether the 1,000 (or more) hours you spend preparing for the CFA exams might be better spent working out what job you want to be doing, and working like crazy to get your first break.
Speaking from an employer’s perspective, if I was to hire someone who doesn’t already have considerable practical experience in the field, I would want them to be focusing on the basics first and foremost.
I’d also say that if your experience/expertise is in engineering or construction you might find it easier, more practical, and more profitable over the short-to-mid term to pursue opportunities in your existing field. If the driving force is money, bear in mind that the “finance” field is very (very!) broad, and in many (vast majority) of sectors the money is probably about the same as a similarly qualified expert in another field. I’ll say that again: the perception that “finance” is a path to riches is (in the vast majority of cases) wrong!
Good luck either way!
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