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I’ve now been writing about finance careers for almost 20 years, and the topic of the CFA for investment banking never seems to die. I first criticized the CFA in a 2009 article , which generated a lot of angry comments. But earlier in 2023, the CFA Institute announced the biggest changes to the program since it started.
Investment banks highly value prior experience in finance-related roles like consulting, investment management, or sales and trading. Look for internships or entry-level positions in these roles at banks, asset management firms, consulting firms, or corporate finance departments.
Note that these tests are different from other ones you may have heard about like the Chartered Financial Analyst (CFA) exams, which are offered by the CFA Institute. Yes, for sure Maybe, depends on the opportunities Probably not Check Out All Our Blog Posts Why Do Consultants Perform Better Than Investment Bankers In PE Interviews?
Better transition roles for moving into IB/PE/related fields are corporate banking , Big 4 TS/TAS/valuation , credit analysis , or even commercial real estate or management consulting. What Are Corporate Finance Jobs? Anything that involves working with clients or working on deals is better than corporate finance in most cases.
In case of ambiguity, a tax professional should be consulted to avoid any miss in tax compliance as there are fines and penalties for tax defaulters. It also works for tax avoidance by selecting which method works best for each type of business or individual. They need to provide legal testimony on public records.
Outside of IB, various asset managers, hedge funds, consulting firms, and trading firms also run some type of spring week program, but we’re focusing on banking here. It’s like the downsides of studying for the CFA : The certification won’t hurt you, but it’s not necessarily worth the time and money required.
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