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nedd help abou career in Finance CFA
01-05-2004, 07:13 AM,
#1
nedd help abou career in Finance CFA
I was delighted to see ur reponses in the forum.

I need ur guidance and help as what to do and what to look out for I am short of ideas and sight

I have recently passed all ACCA papers meaninin now I am an ACCA affiliate I have also passed CAT exams. Now I have enrolled myself in CFA Level 1 EXam.

I want to pursue career in Finance and its related fiels such as Asset Management, Financial Advisory Services Equity research Money Market opertaions as well as Risk Management.

I am not sure what to do mean how to get experience and excell in Finance.

My friends say do CA first meaning do articles but in articles it is audit stuff and tax not finance whereas direct junior finance jobs are not as well good here.


Can u help me out in starting my career. I currently reside in Lahore is Kararchi better.

If u know organisations where I can specifically gain CFA related Experience.




I've learned-
that you can get by on charm for about
fifteen minutes.
After that, you'd better know something.
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01-05-2004, 08:07 AM,
#2
 
Xavier, I think it’s very good that you have completed your ACCA and now wants to come into the Finance sector. I can appreciate your comments that accountancy could get quite boring, especially when you are doing audits, repeating the similar stuff over and over again, since I also did not like mine internship with an accountant as well, principally on the same grounds.

I also feel that it’s a good move to start studying for CFA. I wish you all the good luck for that. However, when you want to enter the Finance industry, due to so many toys to play there, you should take each and every step very cautiously, as a wrong career move may not be found as much regarding as you hoped it to be. What I am basically looking at it is, when you say you want to go into the advisory roles, for instance, into the corporate finance etc., you should know what it would entail, in terms of social sacrifices etc.

I think the best one to go for would be Fixed Income, the bond market, in other words. Primarily, as you would know, that we are living in this world of credit. There are credit cards for personal reasons to leverage and high yield institutional and government borrowing for respective needs. It is inevitable that this sector of investment banking sought to mature even further, not only in emerging economies but also in developed ones.

To get the first hand exposure, you could always apply for internships, but if unfortunately they are not available, you could also try work shadowing scheme / opportunity. I am not certain whether you could get one or not in Pakistan, but definitely its what many people here in the UK do these days. Of course, you don’t get paid but the future benefits outweigh the present constraints.

AHSAN


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01-05-2004, 08:43 AM,
#3
 
Assalm U Alaikum

Dear Ahsan
Thnx for ur reponse . Pleae elaborate upon how that shadowing scheme / opportunity works.

Internships in pakistan are hard to find. I want to pursue career in Islamic Investment Banking in long term. Can u suggest something about that.

What is the scope of CFA in UK. Are internships avaiable there for CFA charter. which organisations are willing to acquire people from abroad say Pakistan and what if there any. what are the procedures and all the red tape requirements.

Anticipating.
Reply
01-05-2004, 09:24 AM,
#4
 
Xavier, the answers to your questions one by one;

Shadowing scheme is basically works quite similar to an internship but the major element that differentiate both of them is that, in an internship you sought to get the opportunity to actually work on a project and you physically do something on your own, however, in a work shadowing scheme, as the name sounds, you just rotate around with various people gaining an insight into their day-to-day business and how actually they perform tasks. It’s a great opportunity to get first hand experience and in my views you get to learn more stuff than an ordinary internship.

I did once a work-shadowing scheme with one of the London Metal Exchange’s broking company. I spent my time with many professionals, namely traders, sales people, compliance workers, etc and also gained insight as how does the market work. I also got the opportunity to spend sometime on the floors of the LME and once I got opportunity to trade gold on bullion market as well, as part of my work-shadowing programme. Although I did not get paid, but the experience itself was quite awesome.

For Islamic Investment Banking, I think you should visit the website of Meezan Bank. I also believe they have offices in major cities, definitely in Lahore. I feel they may be found helpful in interrogating questions about possible career in Islamic Investment Banking.

The scope of CFA is very bright in the UK, as you would presume it to be, due to one of the world’s biggest financial centre. I believe for higher positions in the investment banking, it is seen as one of the pre-requisite. Also, as you have done ACCA, my friend, you would be in quite good position in the banking employment pool in this country.

I am afraid that the banks do not offer internship and/or work shadowing opportunities to foreign candidates. This is yet again due to fierce competition that we also have here. As I said before, the starting point of your research should be visiting the websites of the banks that I suggest in my previous mail.

Just to give you a flavour, as you do not seem to have enough work experience of finance, therefore, if they would hire you, you would only be considered for Analyst programmes, which is the starting career ladder in banking sector here usually available for bachelors’ qualified students or master’s qualified with little or no exposure to financial markets.

AHSAN





Edited by - derivativetrader on Jan 05 2004 043208 AM
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01-05-2004, 09:36 AM,
#5
 
Thnx again for clearing the situation.

Regards.






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01-05-2004, 09:44 AM,
#6
 
No worries, please feel free to ask any question that you may have regarding the investment banking. I feel that is my strongest area and the one with quite a material knowledge.

AHSAN


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01-05-2004, 08:46 PM,
#7
 

Xavier,

Karachi would certainly offer greater opportunities for you but more competition as well...

However, I'm sure there are Insurance Companies and Actuarial Consultancies in Lahore as well which provide internships for students who are doing CFA and Actuary.

Reply
01-05-2004, 08:46 PM,
#8
 

Xavier,

Karachi would certainly offer greater opportunities for you but more competition as well...

However, I'm sure there are Insurance Companies and Actuarial Consultancies in Lahore as well which provide internships for students who are doing CFA and Actuary.

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