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31-05-2010 02:26 PM
Unregistered I am involved in front office recruiting and would say that unless your father is someone famous or you are very pretty and smart, its very difficult to get into sales and trading.

Research is easier to get into generally, but if you are looking into bulge bracket, you need a degree/MBA from a top university (Ivy League/Oxbridge) and an outgoing personality. For top local grads, easier get into a local broker and then work like a dog to make yourself a name. Same thing for corporate finance, but it can be real drudgery where you catch only a few hours of sleep a week when deals are on.

Boutique buyside firms or hedge funds may be easier to get into and you could rise and make a lot of money, but don't do that much for your resume. Coming from bulge bracket, its much easier to move around.
27-05-2010 10:48 PM
Unregistered Instead of the typical front office jobs like sales and trading, research, corp finance, debt equity raising, have you considered more specialized front office roles in boutique or specialized M&A firms? Blackstonegroup Lazard... come into mind

For eg. restructuring... deal origination.. I'd say a lawyer trained in corporate insolvency, tax laws and corporate finance is actually in a very good position! Much better than a fresh grad for sure.
30-12-2009 04:35 PM
allen
Quote:
Originally Posted by alarme View Post
how difficult is it for corporate lawyers to switch into the banking sector (specifically front office jobs)? is it possible?

anyone knows of any person who has done that successfully?
If you have experience in M&A, IPOs and securities transactions etc. I would say the chances are there for a change. If not, it will be tough since front office roles are the holy grail in IB and there are lots of qualified candidates out there vying for the same jobs.
30-12-2009 01:16 AM
alarme how difficult is it for corporate lawyers to switch into the banking sector (specifically front office jobs)? is it possible?

anyone knows of any person who has done that successfully?
29-12-2009 11:28 PM
Unregistered Banking is way overrated because of the fat bonuses everyone is talking about. It is true that making a mid-career switch around 30-ish is extremely difficult due to the number of job seekers drawn to B&F industry. You wouldn't even qualify for an interview for a typical BO position that accounts for more than 50% of the vacancies in the industry.

The only way to do it in my opinion is through getting a Masters in Finance from a good university and/or taking the CFA. The former is a easier route but carries less weight while the latter is obviously harder to attain if you nuts about finance and it also requires perseverance and a lot more study time. The CFA curriculum is known to be a foot wide and a mile deep. Thus, it is highly valued in certain positions in banking and asset management industries. Should you have the determination to take on this arduous journey, I am confident you will reap the rewards in the long run.
27-11-2009 06:19 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Have you start studying for CFA or MFE or Master of Applied Financ? if you haven't prepared, most likely very hard to get into line already. Many fresh grad graduated are willing to take on the job with minimal pay and tons of enthusiasm
Agree. At the bank where I work, they hire pretty freshly graduated girls for a pittance and send them for free training! If you're young and pretty, you have an edge. No need to worry about taking CFA.

However, if you're old, ugly, male and in the wrong industry, it's ten times harder to get in. Don't waste your time. It's easier to get rich doing business. Banking is too overrated.
27-11-2009 10:00 AM
Unregistered
Quote:
Originally Posted by sosowhat View Post
I am on the same boat, currently doing Maintenance Management but want to switch to Finance. What do you mean by mid-age? Is 30 considered mid-age?
Have you start studying for CFA or MFE or Master of Applied Financ? if you haven't prepared, most likely very hard to get into line already. Many fresh grad graduated are willing to take on the job with minimal pay and tons of enthusiasm
20-11-2009 01:21 AM
sosowhat
CFA to switch careers

I am on the same boat, currently doing Maintenance Management but want to switch to Finance. What do you mean by mid-age? Is 30 considered mid-age?
30-08-2009 10:23 AM
Unregistered I just passed lvl 3, but i think admin is true, getting into the industry is much harder than passing lvl 3

For those who want to attempt this path, it is advisable to do it at an earlier stage of the career as if you passed at certain age and even if you got it, bank or investment industry still will not take you. The reason is simple: why hiring a mid age person where he or she can hire a fresh grad that can be manipulated easily?
15-06-2009 11:41 PM
CFA1 I got into banking anyway. But it's not due to my level 1 pass. It didn't help at all, but that was back in the SARS days, so maybe it's just my bad luck.

I went through a rather unique journey to end up in a software developer position in financial markets in a foreign bank. It's definitely much better than any IT position outside of banking.
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