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How is work in the investment industry like?
Posted by admin
Hi, I am considering a career switch to the investment industry from an engineering career. I am considering of taking up the CFA program to equip myself with the technical skills required for this industry and at the same time, to enable me to step foot into this industry.
But before I decide whether to enroll in the CFA program, I would like to find out if this industry is really suitable for me.(I do not have any friends working there).
Is there anyone who is working in the investment industry who is willing to share with me his experiences and how the work there is like? Especially people who are in same situation as me (who made a career switch) ?
Also, I'm quite interested in research and analysis of stocks and equities, and I'm strong in numerical aptitude. What kinds of jobs are there available in the investment industry that will allow me to utilize this strength?
Thank you for your replies in advance!
Give me an e-mail. I have a CFA charter and have worked in equities for more than a decade.
There are lots of different types of work in "investments" from trading, to sales, to research, to syndication, to private equity, to fund management and on and on.
The most likely sub-segment that would need technical skills is the following:
a) Research. This is where you do buy-sell-hold recommendation reports on company. You can work for either the equity side (stock analyst) or bond side (credit analyst). Then you can work for either the buy-side (mutual funds, insurance, hedge funds) or sell-side (brokerage). Typically, you need a thorough background in accounting, a good background in finance (as evidence through CFA program) and then an industry background that gives you a leg up when giving research on a specific industry. For example, your typical pharmaceutical analyst for brokerage has an MD. It isn't required, but it does help, especially for more technical industries like medical, technology and energy. Long, long, long hours. Bad job security. Very, very competitive. Bonuses can be very good. Politics can be very tough. You must be kind of a know-it-all freak (like me) in order to really enjoy this job. I am and I did.
b) Corporate Finance. Instead of doing agency work, you're doing primary work. You're doing lots and lots of pitch books to land deals to underwrite IPOs, equity placements or debt placements. Once you win a deal, then you then do lots and lots of writing for the Red Herring/Prospectus. Job can be repetitive. Travel can be large %. Pay can be very, very good.
c) IT back-end. This is only if you're hard core software engineering type. This is where you use your knowledge of finance to help design software. This is the flip side. Pay can be outstanding.
2 Responses to “How is work in the investment industry like?”
Leave a Reply
November 27th, 2008 at 2:27 am
typically, very fast paced, lots of pressure, cut throat and cynical. Apply today.
References :
November 27th, 2008 at 2:48 am
Give me an e-mail. I have a CFA charter and have worked in equities for more than a decade.
There are lots of different types of work in "investments" from trading, to sales, to research, to syndication, to private equity, to fund management and on and on.
The most likely sub-segment that would need technical skills is the following:
a) Research. This is where you do buy-sell-hold recommendation reports on company. You can work for either the equity side (stock analyst) or bond side (credit analyst). Then you can work for either the buy-side (mutual funds, insurance, hedge funds) or sell-side (brokerage). Typically, you need a thorough background in accounting, a good background in finance (as evidence through CFA program) and then an industry background that gives you a leg up when giving research on a specific industry. For example, your typical pharmaceutical analyst for brokerage has an MD. It isn't required, but it does help, especially for more technical industries like medical, technology and energy. Long, long, long hours. Bad job security. Very, very competitive. Bonuses can be very good. Politics can be very tough. You must be kind of a know-it-all freak (like me) in order to really enjoy this job. I am and I did.
b) Corporate Finance. Instead of doing agency work, you're doing primary work. You're doing lots and lots of pitch books to land deals to underwrite IPOs, equity placements or debt placements. Once you win a deal, then you then do lots and lots of writing for the Red Herring/Prospectus. Job can be repetitive. Travel can be large %. Pay can be very, very good.
c) IT back-end. This is only if you're hard core software engineering type. This is where you use your knowledge of finance to help design software. This is the flip side. Pay can be outstanding.
References :