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I would recommend that someone work at a bank straight out of college
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What would be the best way to get an interview with a bank?
Which banks would be the best to work for?
What specific positions should I be applying for?
I just finished college with a degree in finance and would like to do work that would qualify me for the CFA designation. According to the CFA website, the applicant must have...
<ul type="square"> "four years of work experience in which 50% of the applicant's time is spent evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process involving securities or similar investments"[/list]
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I never worked for a bank and most of them require prior experience in order to do investment work with clients.
By working with a firm out of college, you are really putting yourself behind the eight ball as it usually takes as much as 2 years to develop your practice, and most firms have declining compensation schedules. Also, it is hard to gain credibility if you are 22 years old and giving investment advice.
This is why the job you choose is critical to your success. Try to find one where you know someone in the firm who you can work along side, or underneath. Learn to market employee benefits as this gets you in the door and allows you to speak with a lot of people. Having the support in place to allow you to do health insurance/pension planning etc. will give you an advantage as a young advisor. While you are learning the business end of advising, you can learn the individual ends of the business.
The bank comment was meant to encourage someone to gain experience with stocks/IRA's CD's etc. prior to getting a commision based job. PM me if you have more specific questions about job hunting as this is the most critical aspect to success in this industry