I am going to be graduating in about 18 months time and I am very keen to work for a big IB. I am well aware (having already done an internship with an edinburgh based fund manger) how competitive the industry is. I am therefore thinking of taking the IMC (investment management certificate) exam in order to help me stand out against other candidates. I have looked at the sylabus and I believe with some hard work I could pass it, as I do have a genuine interest in the financial markets, and wouldn't consider reading the course material and recommended reading to much of a bore. I am curious if anyone has taken this exam and how demanding did they find it? Also is it a well respected qualification among the IB's (I understand it is the starting exam to becoming a CFA)? Or is there another exam I should be looking to be taking...I only have three months experience (gained from a summer internship) however and I think the majority of professional qualifications require much more. Any help or advice would be much appreciated.
CityTrader
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Why don't you take the exam to become a Registered rep? probably more use, unless you want to be a PM
sak07 said:
Don't bother applying for trading positions at an IB unless you have straight A's at A-level and a 1st from a top 10 and an internship with an IB. Hedge funds are not an option either, but I have seen a few advertise for PHd traders straight from Uni.
What about an MSc in Financial Mathematics or an MSc in Investments. CFA is good, but some people may look down on it, depends what place you submit your CV to, but generally with HR they will take it as a plus point, but that's only if you get through the very fine filter that they use to screen candidates.
Best of luck
Airthrey Capital
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Depends what you really want to do. As City Trader said, if you want to be a fund manager, then IMC would be a useful qualification to have under your belt, and you should aim to become a CFA longer term. I would also suggest that if you want to be a fund manager, your summer internship (however brief) will also be very useful. You should also look to apply to the major Scottish fund managers (particularly if you went to university in Stirling). Whilst the major groups in Scotland such as Standard Life, Scottish Widows, Scottish Equitable, Britannia may be obvioUs places to apply for, the boutiques and independents such as Walter Scott, Artemis, Scottish Value Management, Valu-Trac, Baillie Gifford, Glasgow Investment Managers, Edinburgh Partners and Martin Currie are well worth looking at.
On the other hand, if you have your heart set in Investment Banking, Scotland is not the place to be, and the City is certainly where you should go.
Investment Banking covers a multitude of disciplines, and you need to know if you want to go into Corporate Finance, Institutional Sales, Research / Analysis, Fund Management or Trading. If you want to trade, you will also need to decide if you want to trade currencies, bonds (fixed income), equities, or derivatives etc. etc.
You will need to know what you want to do first in order to chose the appropriate qualification.....
But you could do no wrong by doing IMC if you know you want to be a fund manager, and the Reg Reps if you want to be a broker / trader. For corporate finance you would be better off with a legal / accounting qualification.
On the other hand, if you have your heart set in Investment Banking, Scotland is not the place to be, and the City is certainly where you should go.
Investment Banking covers a multitude of disciplines, and you need to know if you want to go into Corporate Finance, Institutional Sales, Research / Analysis, Fund Management or Trading. If you want to trade, you will also need to decide if you want to trade currencies, bonds (fixed income), equities, or derivatives etc. etc.
You will need to know what you want to do first in order to chose the appropriate qualification.....
But you could do no wrong by doing IMC if you know you want to be a fund manager, and the Reg Reps if you want to be a broker / trader. For corporate finance you would be better off with a legal / accounting qualification.
Hi,
I applied to all of the banks graduate programs 2 yrs running and did get 3 offers the second year after getting none in the first (I had done an MSc by then).
Ultimately I decided that it wasn't for me and took a hedge fund position instead on the basis of quality of life. My mates in the banks work 24/7 for half the money I get. I can't see why anyone would want to do it. Go the Asset Management / HF route.
Another option is places like London Capital, Kyte group, Schneider etc. These guys take anyone with an undergrad degree in anything. They pay you nothing (London capital) or low (Kyte do £15k), they all charge a desk fee of circa £1200 per month but they do give you some training and then 50% of your profits trading their capital. This is a riskier option but if the other two (banks and HFs/CTAs) don't fit it might be worth considering.
Good luck,
VN
I applied to all of the banks graduate programs 2 yrs running and did get 3 offers the second year after getting none in the first (I had done an MSc by then).
Ultimately I decided that it wasn't for me and took a hedge fund position instead on the basis of quality of life. My mates in the banks work 24/7 for half the money I get. I can't see why anyone would want to do it. Go the Asset Management / HF route.
Another option is places like London Capital, Kyte group, Schneider etc. These guys take anyone with an undergrad degree in anything. They pay you nothing (London capital) or low (Kyte do £15k), they all charge a desk fee of circa £1200 per month but they do give you some training and then 50% of your profits trading their capital. This is a riskier option but if the other two (banks and HFs/CTAs) don't fit it might be worth considering.
Good luck,
VN
ajayshah100
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Do the IMC.
Its an easy exam and can only count for you and not against you.
But like the others who have posted replies, you need to be in London in reality !
Good luck
Its an easy exam and can only count for you and not against you.
But like the others who have posted replies, you need to be in London in reality !
Good luck
ForexMelody
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I think if one can follow by the path of some top trader, learn & practice 1-2 setup at first on demo account and then do real trading when you have good demo.
Thousands hours of Screen time is more useful than pass certain test.
It is a kind of regeneration of phoenix to be a 1st class trader.
I knew 2 top-level traders who can make profit with both high winning rate and good % of profit/loss
one of them is graduate from High School, and other was learning Computer Science,
None of them had CFA or any certificate, but they all have excellent track records.
Wish everyone Good Trade & Good Luck everyday.
Melody
Thousands hours of Screen time is more useful than pass certain test.
It is a kind of regeneration of phoenix to be a 1st class trader.
I knew 2 top-level traders who can make profit with both high winning rate and good % of profit/loss
one of them is graduate from High School, and other was learning Computer Science,
None of them had CFA or any certificate, but they all have excellent track records.
Wish everyone Good Trade & Good Luck everyday.
Melody
Hi all, I only signed up yesterday and have been reading up on the subject of best qualifications to Fund Manager!
I'm 43 and have worked in senior positions in Property Development, Sales and Marketing mainly in Central Eastern Europe and London. I now want to work as Fund Manager. Considering my age and not a great experience in the financial markets as well as bearing in mind I would be struggling to get into a Fund Manager's Assistant position, what would you recommend? I looked into the IMC Diploma, and it seems a general diploma in management consultancy. I need something more to the point and in London...Who do I apply to for a trainee, assitant or voluntary position to gain some on the job experience.
Help!!!
Anita
I'm 43 and have worked in senior positions in Property Development, Sales and Marketing mainly in Central Eastern Europe and London. I now want to work as Fund Manager. Considering my age and not a great experience in the financial markets as well as bearing in mind I would be struggling to get into a Fund Manager's Assistant position, what would you recommend? I looked into the IMC Diploma, and it seems a general diploma in management consultancy. I need something more to the point and in London...Who do I apply to for a trainee, assitant or voluntary position to gain some on the job experience.
Help!!!
Anita