Investment banker - stockbroker careers

[smellybelly]

What exam(s) do you need to take?

1) how easy are these exams?

2) where do u take these fsa 1/2/3 exams?

3) I am 22 years old and have "1" year left of uni... if i were to drop out, lets say, and do these independent exams, would firms still employ me with just the certifications of having passed the fsa courses?

4) how much are these courses to take?

5) how long do you have to wait? wot would be the procedures?

thanks for all the help on this 1!!

 

[pboyles]

Prepare yourself for some harsh responses.

 

[mattboffey]

haha

 

[jthetrader]

I think they generally want a serious degree from a serious University (Russell Group if you're in the UK), that is, of couse, just a starting point though. Some kind of general economics or management background (e.g. PPE, straight Economics, MBA) and then you'll have to do the official FSA exams.

It is extremely competitive and they can afford to pick and choose who they take. They're also unafraid of getting rid of people who don't make the grade, plus the vast majority of your income will be linked to your performance (salaries for most employees don't exceed £100,000 a year, yet average compensation is twice to three times that figure). So just getting a job there isn't going to guarantee you'll be 'a success' by city standards.

You say you've got one year of Uni left? Well, GS, for example, likes to take people onto their graduate scheme in the first year, and I imagine that is true of most investment banks.

 

[jthetrader]

What exam(s) do you need to take?

1) how easy are these exams?

2) where do u take these fsa 1/2/3 exams?

3) I am 22 years old and have "1" year left of uni... if i were to drop out, lets say, and do these independent exams, would firms still employ me with just the certifications of having passed the fsa courses?

4) how much are these courses to take?

5) how long do you have to wait? wot would be the procedures?

thanks for all the help on this 1!!

Which Uni are you at and which course are you on? If I were you I'd look into doing a Masters degree in Economics, or doing an MBA.

To be a trader you probably just have to prove you have trading acumen and that you can generate the kind of safe returns which they want. I think a lot of traders are smart rather than educated, they're calm, collected and naturally very analytical but they may not know the nuances of every economic theory. Whereas to be, say an oil market/equity analyst or something like that you'll need to be degreed to the hilt (probably want a Phd from LSE or Harvard). The majority of investment bank employees are not traders, they belong to the legions of behind the scenes analysts/quants who provide the information the traders need.

To be a 'broker' in the proper sense of the word (one who matches up buyers and sellers) seems to require connections, from what I've read/heard a lot of old Etonian types go into that because someone gets them a job.

As for how easy the exams are, I doubt they are easy at all.

 

[smellybelly]

im at london met

studying ba hons banking and finance

(so doing the fsa 1 and 2 or fsa 1/2/3 will not be enough) ??

 

[anley]

No disrespect Smelly but if you want to get a proper job, especially as an investment banker, nobody is going to take you seriously if you write like a 12 year old.

So start using a bit of effort and understand how and when to use capitals and proper punctuation. I know this is a message board but still, act like you mean to carry on. It is small matters such as this that can really make a difference.

Who knows, maybe somebody on this board happened to have an interview slot open but has already crossed you off their list because of how you come across.

As for the FSA exams, 95%+ of people who take them are sponsored by the firm they work for so no point in getting them until you've got a job. Plus, the exam is basically a load of ******** and it's only a means to an end, ie you have to have it to work but as soon as you've passed it 80% of the information will be forgotten because it's not needed and generally useless.

So your best bet is to try and join as a graduate but competition will be very tough so start thinking now how you can promote yourself as a better candidate than many of the others.

Good luck.

 

[marbig]

No disrespect Smelly but if you want to get a proper job, especially as an investment banker, nobody is going to take you seriously if you write like a 12 year old.

So start using a bit of effort and understand how and when to use capitals and proper punctuation. I know this is a message board but still, act like you mean to carry on. It is small matters such as this that can really make a difference.

Who knows, maybe somebody on this board happened to have an interview slot open but has already crossed you off their list because of how you come across.

As for the FSA exams, 95%+ of people who take them are sponsored by the firm they work for so no point in getting them until you've got a job. Plus, the exam is basically a load of ******** and it's only a means to an end, ie you have to have it to work but as soon as you've passed it 80% of the information will be forgotten because it's not needed and generally useless.

So your best bet is to try and join as a graduate but competition will be very tough so start thinking now how you can promote yourself as a better candidate than many of the others.

Good luck.

A perfect answer on all points.