From civil service to banks

I am interested in being an investment banker. Is CFA a door opener? I am 25 this year. How long does it take to complete the CFA course and where do I do it?

[lazyplane]

Go to CFA website to register and know more about the program :

https://www.cfainstitute.org/pages/index.aspx

Fastest route and assuming you pass everytime will still take 1.5 years.

I wish you well.

Originally Posted by Unregistered

I am interested in being an investment banker. Is CFA a door opener? I am 25 this year. How long does it take to complete the CFA course and where do I do it?

Actually its 2.5 yrs to complete CFA assuming 1st time pass for all. Lvl 2 and Lvl 3 are held once a yr only..

Originally Posted by Unregistered

I am interested in being an investment banker. Is CFA a door opener?

you need relevant experience and preferably an ivy league degree if you wish to get in. CFA is hardly a door opener. There are people who get in without the above. However, since that you are already 25 and not in the sector, you need something exceptional to break-in. CFA is useful if you are already in the industry and it was a wonderful learning experience. Don't place too much hope on CFA on getting you into investment banking.

Originally Posted by Unregistered

you need relevant experience and preferably an ivy league degree if you wish to get in. CFA is hardly a door opener. There are people who get in without the above. However, since that you are already 25 and not in the sector, you need something exceptional to break-in. CFA is useful if you are already in the industry and it was a wonderful learning experience. Don't place too much hope on CFA on getting you into investment banking.

the most practical way to get in at your age is to do an MBA with a top school (eg Wharton). forget about NUS, NTU, SMU.

Investment banking is the crème de la crème within the banking industry and extremely difficult to get in. Just because many investment bankers are from Ivy League schools doesn't mean that most Ivy Leaguers are able to get into investment banking.

Those 8-figure annual packages that appear in the news are for very senior positions in Manhattan or The City and highly unlikely to be given to a Singaporean. The salaries of investment bankers here in Singapore aren't that fantastic, ranging from the mid-6 to 7-figures (per annum), which is comparable to the government admin service SR9 ($398k p.a.) to MR4 ($1.94m p.a.).

Despite the fact that many people tend to belittle our perm secs and admin service officers, they're precisely the type who fit the mould of an investment banker, both in terms of education background and calibre.

Hence instead of looking at the grass on the other side, which always appears greener, why not look within the civil service itself and try to get into the admin service?

[alwaysnforever]

Originally Posted by Unregistered

Investment banking is the crème de la crème within the banking industry and extremely difficult to get in. Just because many investment bankers are from Ivy League schools doesn't mean that most Ivy Leaguers are able to get into investment banking.

Those 8-figure annual packages that appear in the news are for very senior positions in Manhattan or The City and highly unlikely to be given to a Singaporean. The salaries of investment bankers here in Singapore aren't that fantastic, ranging from the mid-6 to 7-figures (per annum), which is comparable to the government admin service SR9 ($398k p.a.) to MR4 ($1.94m p.a.).

Despite the fact that many people tend to belittle our perm secs and admin service officers, they're precisely the type who fit the mould of an investment banker, both in terms of education background and calibre.

Hence instead of looking at the grass on the other side, which always appears greener, why not look within the civil service itself and try to get into the admin service?

the thing is that the admin service is only available if you have stellar academic records among other things. Considering the fact that I am already not in the admin service, there is almost no way I can reach that sort of payscale within the govt sector.

Originally Posted by alwaysnforever

the thing is that the admin service is only available if you have stellar academic records among other things. Considering the fact that I am already not in the admin service, there is almost no way I can reach that sort of payscale within the govt sector.

you are right. since you are already not in the Service, no point trying unless you have stellar academic achievements. Even if you do have great credentials, you might not still get in. I know of many statutory board and PSC scholars, who did not get in despite being scholars.
There are many great high paying jobs besides being an investment banker. The point of doing a good program with an ivy league is that:
1) it gives you more options
2) you are exposed to other jobs and opportunities which you will never have considered in the first place.
3) it gets you into the door of most job interviews.


3)

[alwaysnforever]

Originally Posted by Unregistered

you are right. since you are already not in the Service, no point trying unless you have stellar academic achievements. Even if you do have great credentials, you might not still get in. I know of many statutory board and PSC scholars, who did not get in despite being scholars.
There are many great high paying jobs besides being an investment banker. The point of doing a good program with an ivy league is that:
1) it gives you more options
2) you are exposed to other jobs and opportunities which you will never have considered in the first place.
3) it gets you into the door of most job interviews.


3)

unfortunately the thing with an ivy league is that you need stellar credentials academic wise as well

Originally Posted by alwaysnforever

unfortunately the thing with an ivy league is that you need stellar credentials academic wise as well

that is not true. the thing about mba in ivy league is that it offers people a '2nd chance' so to speak. as long you get good gmat (which you can take a few times and practice before hand) and write good essays, you can get in. you don't have to go for harvard. there are INSEAD, IMD, Stanford, columbia etc. you will be surprised that some schools do accept many singaporeans. much easier than getting 1st class degree in NUS or NTU.