Times are tough these days both on the markets and in the world economy creating a lot of uncertainty in the financial markets. Add to that recent frauds like the huge one at UBS and you can easily imagine how cautious banks are in their spending and hiring these days. Not that it was ever easy to land a job in asset management, trading or other such activities but these days, it’s even more difficult. I think that periods like this one are the best moments to improve your candidate profile.
Education Is A Great Way
No matter if you have a job or not, improving your resume is a great way to improve your chances. Getting a masters, an MBA is great but I personally think that nothing beats a CFA if you want to find a high value job, become a trader, a portfolio manager, a research analyst or anything of the kind, I think now is the perfect time to get your CFA exams done. Why?
Offer vs. Supply
In a world where fewer good jobs will be available, you can expect many more candidates to be applying. A job that would have had 10 or 20 candidates might have 5 or 10 times more. At that point, it becomes about being able to stand out as a great candidate. I can guaranteee you that having passed the CFA exams will help you do just that. I know of many friends that would tell you that they would not have gotten an interview request without having their CFA title. Of course, it only gets you into the door, you will then be able to be solid in your interview and impress with both skills and attitude in order to actually get the job.
Help Your Network
There are many different things you can do to build your network, which is arguably the most important factor in getting a job. Using LinkedIn, going to cocktails, meeting with friends, friends of friends, etc. All of those are certainly great ways. However, I would say that the type of network that you can get both by studying and having passed by the CFA exam is probably second to none. There are many different ways to get these contacts. First off, you might have studying partners, you can attend CFA activities and cocktails in your region, you get a point in common with many of the most successful people in the industry and you become “credible” almost instantly. Not bad hey? So what are you waiting for, get started.