November 13, 2008
Requirement and Route to becoming an investment banker / portfolio manager?
Edgar Ng asked:
How can i be a investment banker / portfolio manager?
What are the requirements?
Im currently taking up the course of prof.accountancy ACCA body, i wonder if that is enough to enter into a training program or must i go for CFA as well?
How can i be a investment banker / portfolio manager?
What are the requirements?
Im currently taking up the course of prof.accountancy ACCA body, i wonder if that is enough to enter into a training program or must i go for CFA as well?
Advise needed.
Filed under Investing by Administrator
Comments on Requirement and Route to becoming an investment banker / portfolio manager?
Hi, I’ve been looking into investment banking as well.
The various requirements I have found (through several job sites), require a degree in accounting/finance/business, and usually the required licenses (series 6, 7, 63).
It seems like alot of companies offer entry level positions which lead into investment banking. Whether entry level financial analysts, stockbrokers, traders, and even financial advisors. Check out some of their sites: Financial advising: Smith Barney, Edward Jones, AG Edwards.
Investment Banking: Morgan Stanley, Bear Stearns, etc
MBA in Finance ……………………and CFA a nice little exercise.that’s all it is…………..
A degree isn’t a necessity, though if you want to obtain a decent position you will need a MBA at the very least and an MS in Finance at the most. The CFA actually carries a lot of weight. You need to be in the Finance Industry for at least three years before you can obtain this certificate, regardless of if you passed all three exams. Since you are trading securities you will absolutely need a Series 7 & 66. The Series 6 is a joke since you are restricted solely to mutual funds and nothing else. The 7 is ALWAYS the way to go. Avoid any job that requires the Series 6 because you are limiting yourself immensely!!
You would be better served starting out at the bottom of the totem pole by applying as a Financial Advisor. It will get your foot in the door and get the exams you need…plus it will get you in the finance industry to work toward the CFA. I would look into Keir Education for the Series 7, 66 and CFA preparation. They have online correspondence courses that really helped!!
Unfortunately, they only have the educational resources for the first exam on the CFA, but from what they told me, they are adding more in the future.
Good luck. I hope this helped!
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Quick point about the Series 63. The Series 66 is a combination of the Series 63 & the Series 65. I would recommend you look for a position that wants you to obtain the Series 66 because this means you will be able to be registered in EVERY state. Not all states accept just the 63, which is where the 65 came in. So, to save money you just take the 66.