<p>I graduated from college about a year ago and had aspirations to work at an investment bank, possibly as an analyst. Things didn't go exactly as planned. Right now I'm working at an extremely stable 40 hour a week job where I will most likely end up making somewhere in the neighborhood of $80k within the next 4-5 years. But now, I'm rethinking the whole I-Banking thing. I think I would enjoy the work, but I know I would hate the hours and hate having to leave my family to move to NYC, Chicago, Philly, etc. The money isn't that big of deal to me personally, but I have members of my family that could certainly use it which is my main reason for considering the career change at this point. For anyone with any experience in I-Banking, do you think it would be worth it, especially considering the current condition of the industry?</p>
<p>Philly?</p>
<p>You would have to tell us more about yourself. Where you went to school, what you studied, GPA and what went wrong last year. Also, what is your current job?</p>
<p>Michigan, finance major, 3.7 GPA, and nothing really went wrong. I just decided that I didn't want to move and didn't want to deal with the long hours. I'm just now second guessing my decision because I know my family could use the money. I'm currently working as a cost accountant.</p>
<p>Unless you had an ibanking internship during college and that firm wants to hire you it will be very, very difficult making that transition at this point in time. Too many quality applicants for too few jobs. Most firms are only hiring a few of their best interns right now. Your best bet to break into the field at this point would be post MBA.</p>
<p>An MBA is out of the question right now because I'm still paying off undergrad loans and my job won't cover any tuition for about another year and a half. Theoretically, would passing the first CFA exam do anything for someone in my position? Or should I just forget it at this point and take the 15 hours a week I would spend studying for the CFA to supplement my income by trading stocks?</p>
<p>If you are still paying off undergraduate loans, I wouldn't consider trading stocks, particularly when you'd put yourself under pressure to use it as income. Bad idea IMO.</p>
<p>A CFA certificate won't help for a banking job. Your big issue is that the first job is crucial to the next job unless there's a degree inbetween. An accounting job makes you less interesting for most jobs on The Street. If you want banking an investment in the MBA will probably be necessary to transition unless there are a flood of jobs which doesn't look likely anytime soon.</p>
<p>hmom5, are you in Investment Banking yourself?</p>
<p>CFA and IB are not the same. Having CFA won't help you in IB. CFA is important in Investment Management.</p>
<p>jmmom, yes, 255 years...</p>