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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.
Recruiting is straightforward and much less competitive / time-sensitive than IB roles; you can get in coming from a solid-but-not-top-tier university with decent grades and good accounting knowledge. Recruiting: How to Win Corporate Finance Jobs Corporate finance jobs are much less competitive than investment banking jobs.
If you would like a leg up in the recruiting process, consider pursuing courses that focus on finance, accounting, statistics, mathematics, engineering, and economics. MBA programs have recruiting events with all types and sizes of investment banks. Maybe even more important than your major is your GPA.
Recruiting at Multi-Manager Hedge Funds Traditionally, most hedge fund recruiting has been “off-cycle,” but some larger multi-manager funds now use a structured recruiting process with headhunters and modeling tests. (We Many funds, such as Point72, now recruit undergraduates directly via programs like the “Point72 Academy.”
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. Are you focused on recruiting in 2023? Where can I learn more about these exams?
This setup creates many differences with multi-manager (MM) hedge funds , from investment styles to recruiting and careers. Recruiting and Interviews at Single-Manager Hedge Funds Most hedge fund recruiting is “off-cycle,” and that’s even truer at single-manager funds.
But a few other reasons also explain why fixed income often gets overlooked: the unstructured recruiting process, fewer job openings, and the “cushiness” of senior-level roles. An Example Fixed Income Research Report Recruiting: Who Gets into Fixed Income Research? power & utilities , FIG , or industrials ).
Additionally, if you’re interested in refining your Excel skills and recruiting for private equity, you should check out our , Private Equity Course. In a 2020 survey by CFA Institute, VBA was ranked as one of the top skills desired by employers in the finance industry.
Unfortunately, it’s not quite that simple – due to massive competition, a fairly involved recruiting process, and low conversion rates at many banks. Expectations for technical skills and work experience are lower, but the process is more random than normal internship recruiting and depends on fit, grades, and activities.
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