IMC or CFA... or both?

[Joey25]

Realistically, equity research is MBA entry at associate level (around the age of 30).

For quant, programming is the most important (C++ in particular), but a PhD is pretty much standard.

However, private wealth management is a realistic option, and requires RDR compliance (IMC + CFA Level 1).

See attached.

 

[MaxiV]

So your a scientist. What type of scientist. Do you have a degree in Chemistry or Physics.

The only analysts that are in demand in the world of finance are Quants or Quantitative Analysts.

You may be able to find somewhere that will take you if you can prove your coding and mathematical skills. But you will be starting off at the Junior level and would be paid quite well. But you will have to prove yourself.

There are specific Quant courses you could take to become accredited.

On the other hand what type of analysis were you thinking of doing? There is analysis in many jobs in Finance. Really have you been thinking of front office role involved in making decisions for trading. You could look at the opportunities in the Back and middle office. There are roles for portfolio analysts who describe in detail where returns on a fund came from. Also moving in to become an accountant could be a wise move.

You will get paid more than teaching but will never shoot the lights out so to say as the front office guys can do.

This being a trading board your doing analysis for trading I'm sure.

You mention a guy at 40 who did the CFA well yeah as you say he was already in the industry.

Thanks for the input Nicktids. I'm a Biochemist BSc (Hons) and then did a PGCE.
I don't want to be an accountant... started the CIMA foundation and wasn't for me esp starting at the bottom and doing the same thing. I have more books on the markets and shares, Technical Analysis, etc etc then any other books on business.

You seem to know a lot on the analysis side of the financial world... i'm not sure what type of analysis i would want to do... maybe i will have a better idea when i get into the courses and what have you. However, i like the point you made that i can still make more money as a teacher even at junior level... is that so? I get paid more than £30K per yr... does it beat that? If so... this may be for me so give me details

If i enjoy all this... who knows... may go into all this to front office. And what do you mean by, "never shoot the lights out":?:

Realistically, equity research is MBA entry at associate level (around the age of 30).

For quant, programming is the most important (C++ in particular), but a PhD is pretty much standard.

However, private wealth management is a realistic option, and requires RDR compliance (IMC + CFA Level 1).

See attached.

Thank you for this Joey.... looks like i'll be heading for this direction from next year Jul 2012. Again will see...:smart:

 

[nicktids]

Shoot the lights out = get a massive bonus at the end of the year, you can get good bonuses in back office but they are always lower than front office ones.

If you interested then look for portfolio analyst positions. Yes you can progress to a front office position. Salary will depend on experience, back office roles start 25k-30k depending on degree for straight out of uni and go up from there.

Its really about finding roles and go for it. But if your going to get the CFA before you switch jobs then you will be looking for more money than that.

 

[MaxiV]

Shoot the lights out = get a massive bonus at the end of the year, you can get good bonuses in back office but they are always lower than front office ones.

If you interested then look for portfolio analyst positions. Yes you can progress to a front office position. Salary will depend on experience, back office roles start 25k-30k depending on degree for straight out of uni and go up from there.

Its really about finding roles and go for it. But if your going to get the CFA before you switch jobs then you will be looking for more money than that.

Are you in the industry may i ask? You are very knowledgeable in this area... i may pick your brains later on for further info...

And thanks for the website link... this will come in very useful.

One question... whats the work like at the back office (ie hours of work, any traveling involved or is it desk work... which i don't mind)

 

[nicktids]

Started as a trader for myslef out of uni, found this site. Was not for me straight out of uni. Did a temp job at a major IB then got a perm job up in London in the Back office (easy hours 9-5 with overtime, no travelling, desk work but rewarding set tasks to be complete on time each day/week/month). Moved up to front office quickly and stayed there until became Junior Portfolio Manager on Global Macro funds. Quit my Job as no career progression, Gone travelling around the world, now based myself in HK to hunt for jobs in Asia.

Set up this site http://investment-banking-career-sites.blogspot.com/ to share my bookmarks with the world as direct links to IB and asset management search pages.

 

[MaxiV]

Started as a trader for myslef out of uni, found this site. Was not for me straight out of uni. Did a temp job at a major IB then got a perm job up in London in the Back office (easy hours 9-5 with overtime, no travelling, desk work but rewarding set tasks to be complete on time each day/week/month). Moved up to front office quickly and stayed there until became Junior Portfolio Manager on Global Macro funds. Quit my Job as no career progression, Gone travelling around the world, now based myself in HK to hunt for jobs in Asia.

Set up this site http://investment-banking-career-sites.blogspot.com/ to share my bookmarks with the world as direct links to IB and asset management search pages.

Wow thats great>>>> what is it you did at uni and did you do any prof'nl quals? I want to end up on the asian side and move there too.

How long did it take you to go from BAck to Front office?

 

[nicktids]

10 months to move back to front after I arrived at the company.

I studied Chemisty and have the IMC and the society of technical analysts diploma (MSTA).

Thinking about doing the CAIA now.

 

[MaxiV]

10 months to move back to front after I arrived at the company.

I studied Chemisty and have the IMC and the society of technical analysts diploma (MSTA).

Thinking about doing the CAIA now.

Where did you do your Chemistry? Why a change into doing the IMC? and whats the CAIA?

Just thinking... if you done well with IMC and a other quals... i may as well do IMC and the first level CFA.

Are you in your 30s? (sorry... don't mean to be rude by asking age... dont have to say if you dont want to).

 

[nicktids]

Did chemistry as just a tough course to do.

Did the IMC cause my company demanded it of me to be able to be compliant to trade. IMC is nothing like the CFA you can complete it in a couple of months if or less if you just do the exam questions in the back of study guides they are the same as in the exam.

CAIA google it Chartered Alternative Investment Analyst, slightly different and cheaper to take than the CFA but more specific on alternative investments which is where my skills lie, coming from Macro funds, I don't need all the info on single stock analysis in the CFA.

Under 30.

 

[MaxiV]

Did chemistry as just a tough course to do.

Did the IMC cause my company demanded it of me to be able to be compliant to trade. IMC is nothing like the CFA you can complete it in a couple of months if or less if you just do the exam questions in the back of study guides they are the same as in the exam.

CAIA google it Chartered Alternative Investment Analyst, slightly different and cheaper to take than the CFA but more specific on alternative investments which is where my skills lie, coming from Macro funds, I don't need all the info on single stock analysis in the CFA.

Under 30.

Im glad i came across the CAIA, thanks for that; this is more like me. there is Kaplan that do this in the UK that i can find.


What other quals are there out there besides CFA?


... ok just seen CISI through Kaplan<<< anyone know whats this like and is directed to?

But i am more interested on CAIA now. Is there any involvement in the FOREX markets in any of these quals?

 

[jobworld]

Well, Certainly IMC is worthy and its the way to the ladder to become full CFA in next stage, also IMC syllabus almost part one of CFA,so before going hard commitment its better start easy and thats,IMC ...
its would help even if you are a practicing Broker and or pursuing teaching,as great demand for teacher of IMC and CFA and ofcourse it would help TRADING or Analyst job too
Thanks

 

[MaxiV]

I now have another question... once you do these exams i heard you can no longer trade for yourself as there is an unfair advantage!! I really dont want to dealin shares but what about FOREX for myself or even using spread trading (betting) <<< is that still allowed?

 

[Tezzer]

You can trade for yourself if trading forex. If your trading shares you'll need to open an account with your brokerage or set up some sort of system so that your trades are all monitored by your firm. Basically set out to stop insider trading activity.

 

[MaxiV]

You can trade for yourself if trading forex. If your trading shares you'll need to open an account with your brokerage or set up some sort of system so that your trades are all monitored by your firm. Basically set out to stop insider trading activity.

Thanks for that that... This works wonders for me as im not too interested in shares.

 

[MaxiV]

....now just wondering how long it would take me to do the CAIA?? i know i'll do the imc and it shouldn't take more than a few months (am i right?)...

 

[jobworld]

MaxiV,

I wouldnt go wasting your time with anything IMC or CISI (lower than FSA level 4) - these are basically benchmark exams - plus, there are NO exemptions from CFA at any level from any other body which might be worth noting.

I know a few chaps who have completed the CFA exams in 18 month (started at the December level 1 stage), I also know people who have picked up the notes 5 weeks before the exam and passed (atleast that's what they told people) but these guys are usually the exeption to the rule - I'm currently a candidate, I'd say if you're thinking about it and have the time and have a natural and keen interest in financial markets then its certainly worth doing - the only problem is the volume and breadth of the learning involved. Difficult but not impossible at level 1.

http://www.investopedia.com/exam-guide/cfa-level-1/ethics-standards/

When you register for the exam you'll be given the CFAI books which are obviously very good if a little dry. The Notes are well worth getting but a little on the expensive side

http://www.schweser.com/cfa/cfa1.<a class="ktg6us78hf8vdu7" href="#">php</a>
You can usually get these off gumtree after june for knockdown prices.
Other cheaper providers include people like Allen Resources - the test database
CFA Exam Prep - Allen Resources cost $99 - direct questions (not much like the CFA actual) but good enough for learning prompts. you can jack it all off the web though... although this (as the CFAI will drill into you) is a "violation of standards".

Also note that no matter how long it takes you to pass all three stages you wont recevie your charter unless you know other charterholders and have had 3-4 years of <a class="ktg6us78hf8vdu7" href="#">investment</a> decision-making experience.

Hope this helps!

HI your advise certainly clear and precise, yes, IMC of CFA is Benchmark and FSA regulatations clearance but CFA is like cream of cream..most important getting advise like your some sources and link,very helpful..Thanks

 

[jobworld]

FOREX and FTSE, S&P, Did do NYMEX too and other commodities such as gold. But now concentrating and perfecting FOREX esp GBP/USD (through IGIndex). Will move onto FTSE and others later. I Have done well and been through my major losses when have got my trading emotion tuned to the Nth degree... everything falls into place with a good trading system. I enjoy it but want to learn more on what is going on out there and how all the mechanics of the markets work. Hence, wanting to go for the IMC or CFA; prob. more of a matter of interest then for career change... but wouldn't mind having a dabble in that world.

:clap:..SO without IMC or CFA ,how you learn all these technical thing for CFD or Spread betting,does your opinion IG INDEX is good and to do good risk reward in FOREX market against Dollar VS Pound..exactly what training need to be CFD day traders...

 

[MaxiV]

:clap:..SO without IMC or CFA ,how you learn all these technical thing for CFD or Spread betting,does your opinion IG INDEX is good and to do good risk reward in FOREX market against Dollar VS Pound..exactly what training need to be CFD day traders...

I am self trained, read a lot of major trading books, and screen time... make your errors... that is the best training.... and here I am now... taking it further.

 

[olivermac5]

IMC Materials

Hi all,

I'm selling my IMC materials from 7city - good condition. Please click below to view...

http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&item=111259853493&ssPageName=ADME:L:LCA:GB:1123

 

[MaxiV]

ok... done my IMC level4.....

Now another question:

CAIA or CISI (Wealth Management)???

Any opinions?