You're welcomed. Thanks for sharing more with us
Ok, now we have a much better idea of what you know and aim to be. From what you say, you are interested in buy-side research, and eventually be promoted to the rank of a portfolio manager.
Rearranged your post abit..
Yes, I have considered CFA. I actually took it some years ago but failed level one. I'm actually thinking of taking it again after i complete my CA.
3) Yep I know CFA is really good but it's not easy to pass all three levels, considering i failed even level one. I don't wish to stay in my current field and retake my CFA (besides its non financial and CFA will need 3 years finance working experience). Im thinking going into accounting can help with the working experience.
Well.. I just took my level 1 last Dec, think I'm gonna fail as well. Even if I pass, won't take level 2&3, damn shag. But my job won't really need it so it's ok.
While accounting work counts as working exp for CFA, I think the accounting experience will not make investment firms wanna hire you unless your accounting work involves analysis, so you gotta choose your accounting work properly.. From what I see, AP/AR/Audit = No analysis at all in entry level (don't know how senior you can be if you switch now), so I am not sure what type of accounting work will lead you to where you want to be.
Of course, to analyse firms you have to study the financial statements. But I really dont think SQP is needed to do that!! Go buy a book on financial accounting and another on company valuation. Read equity research reports to know what analysts look out for.
Not sure how much does SQP cost, but I personally feel that if you really need lessons, you should take lessons for CFA instead.
Many thanks for the concern and advice. I'm quite sure that my heart is in finance, more along the lines of trading / investments. I'm actually in the education field and doing pretty well there. I never liked marketing >.<
For me, I think that financial analyst is someone who analyses companies and judge whether they are worth to invest in or not. I'm thinking along the path of financial analyst >>> portfolio manager.
That's cool. And I think it is possible to do the switch as long as you are willing to put in the effort. I'm more familiar with sell-side tho.. Not sure how it works on the buy-side so hopefully there's a buy-side guy here to share more.
2) Hah.. yea, i counted the years for SQP and agree that its long, that's why im asking for advice whether this route is feasible to ultimately get into financial analyst position, and at the same time still have something to eat and fall back on since im no longer that young anymore (late twenties). I'm thnking being a CA can at least improve my stats on financial accounting background to counter my non finance degree
I have worked as
trading assistant, book keeper in small firm and financial consultant. But the longest ive worked in is in the education sector.
All this time i have been learning to trade on my own but I need capital and lots of guts lol.
Yes SQP is a long way, and when you eventually become a buy-side analyst you need a few more years before you can be a (junior) portfolio manager, by then your age is already quite senior.
I see where you're coming from.. But I don't think being very well-versed in accounting alone will make you a good analyst.. You gotta train up some market sense. And to train up market sense you have to trade. Monitor market (sg-listed ones at least), do some analysis. No capital can at least trade in demo accounts and see your results. If you do well (E.g. show that you have a sound strategy to beat STI), you can bring this up in interview => proves your interest in investing + good analysis.
Your exp as trading assistant: what kind of trading? If financial securities, this is more finance-related than accounting.
Thanks for the vote of confidence. All along i have wanted to major in finance but i was streamed into marketing instead because of my bad grades when i screwed up atrociously at a critical streaming semester due to r/s problems. I was depressed and rebellious for very long after that, thinking that i can make it on my own by trading. Suffice to say, i screwed up even more due to my rebelliousness. Now that im much older and more matured, i want to begin again on my dream but this time on a more secure and realistic track.
SEE I KNEW IT. But didn't know NTU has streaming..
It is amazing how one can screw up their life by being too proud to ask for help when its needed. This is actually the first time im asking for help on the direction i should be taking to embark on my dream after a series of wreckages, but im working on it and asking more people for advice and help and networking etc.
Good step, keep it up!
I believe at your age you have some sort of expenses (car, house, family) you have to meet? Not sure what's your salary expectation but be prepared to take a pay cut when you switch.
I would suggest:
1. Take CFA lessons while still working as what you're doing now. Read alot alot about finance. Start trading.
2. Complete Level 1, see if you can find a job in an investment mgmt firm. May not be something as fancy as analyst but if you're lucky, smaller firms may just hire you!
3. Even if you can't find a job in #2, continue working as what you're working and complete Level 2.
4. Repeat #2 and #3 for Level 3.
You don't need to have a CFA before you can enter, what is more important is you are determined and on the way to getting a CFA, who knows, your employer may even sponsor your Level 2 and 3!
You gotta work extra extra hard in keeping abreast with finance and economics news. During interviews show that your passion, determination and analytic skills is so impressive that they don't care if you have a finance bachelor degree or not.
