Who is a financial analyst?

[Shadow277]

Do we have any people doing that line of work? I am in my MBA program with an emphasis on Finance so I will be taking 5 classes of Finance and Managerial Accounting.

I understand that it is more of a manager degree but I was wondering if that would qualify me for an entry level position? Preferably trying to avoid the CFA but I was told by the guy who hires (he has his CFA and CMA) saying it's more for investment and the MBA is industry.

Seriously thinking about leaving my job.

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[XFactor7889]

Do we have any people doing that line of work? I am in my MBA program with an emphasis on Finance so I will be taking 5 classes of Finance and Managerial Accounting.

I understand that it is more of a manager degree but I was wondering if that would qualify me for an entry level position? Preferably trying to avoid the CFA but I was told by the guy who hires (he has his CFA and CMA) saying it's more for investment and the MBA is industry.

Seriously thinking about leaving my job.

I see you've been sitting on this with no response for a while, so hopefully you're starting to find the answers to your question by now. You can definitely utilize your MBA for an entry level finance job depending on what you're trying to do. I've got my Bachelor's in Accounting & Finance and I wrapped up my MBA with a Finance major a little over a year ago. A couple people in my cohort majored in Finance having engineering degrees, so no finance experience whatsoever, and I've already seen it pay dividends for them for a shift in their careers. Plus, there's very little definitive evidence out there that can prove the benefits of the CFA. Even the institute itself hangs its hat more on the networking than anything. That's not to belittle it by any means. But rather, want to ensure you're not feeling too bad if you're not interested in the CFA.

I'm a bit curious what this hiring manager is referring to, though, because that explanation he gave is not quite accurate. Yes, the CFA is absolutely for investment, but it doesn't necessarily limit anyone to simply investment banking or anything. Plenty of people in the corporate world get a CFA. The CMA is really intended for corporate positions, not so much the investment side (I'm planning to sit for the CMA myself in the next year or so). The finance courses you can take in an MBA can focus on either of those depending on your program and preference usually, but many of the skills are interchangeable if you know what you're doing.

Hope this super delayed response proves to be helpful for you!

 

[Shadow277]

Do the CMA and go for a Doctorate while working.

What can a doctorate achieve?

 

[XFactor7889]

What can a doctorate achieve?

I assume Hanavarian was being sarcastic maybe? Because in the accounting and finance world, unless you intend to do research, there's no need for a doctorate.

 

[Shadow277]

I see you've been sitting on this with no response for a while, so hopefully you're starting to find the answers to your question by now. You can definitely utilize your MBA for an entry level finance job depending on what you're trying to do. I've got my Bachelor's in Accounting & Finance and I wrapped up my MBA with a Finance major a little over a year ago. A couple people in my cohort majored in Finance having engineering degrees, so no finance experience whatsoever, and I've already seen it pay dividends for them for a shift in their careers. Plus, there's very little definitive evidence out there that can prove the benefits of the CFA. Even the institute itself hangs its hat more on the networking than anything. That's not to belittle it by any means. But rather, want to ensure you're not feeling too bad if you're not interested in the CFA.

I'm a bit curious what this hiring manager is referring to, though, because that explanation he gave is not quite accurate. Yes, the CFA is absolutely for investment, but it doesn't necessarily limit anyone to simply investment banking or anything. Plenty of people in the corporate world get a CFA. The CMA is really intended for corporate positions, not so much the investment side (I'm planning to sit for the CMA myself in the next year or so). The finance courses you can take in an MBA can focus on either of those depending on your program and preference usually, but many of the skills are interchangeable if you know what you're doing.

Hope this super delayed response proves to be helpful for you!

It was not the hiring manager. For confidentuality sake, the company is worth billions of dollars and I was speaking to the Chief of Finance who above him is the CEO. I suspect he explained things simply to me because my finance knowledge is way below for now.

 

[XFactor7889]

It was not the hiring manager. For confidentuality sake, the company is worth billions of dollars and I was speaking to the Chief of Finance who above him is the CEO. I suspect he explained things simply to me because my finance knowledge is way below for now.

Got it. That makes sense. I just wanted to make sure you had that better understanding as you try to make your decisions, so I hope that proved to be helpful. If you have any other questions or things you'd like to discuss about a career as a financial analyst, feel free to ask! I am happy to offer any insight and help I can.

 

[Shadow277]

And extra zero on annual income. I only bring PhDs with min two languages in for anything finance or risk related. Only Masters for engineering leadership.

It also give you global mobility where PhD is a must and differentiates from the oceans of Masters in N. America, however, in general management in N. America is very low grade with few hiring people smarter than they are so it can create obstacles as well.

To be globally competitive need 2-3 languages as well haha.

So there's another 6000 hrs of work and expense. You can get post graduate from prestige school in Germany cheap.

I have English and Spanish (Parents are from Mexico). Guess I should pick up Chinese?

 

[Shadow277]

Spanish is fine especially with LatAM, MX especially, a rising power and huge market.

Reshoring to MX and LatAM is huge now with massive amounts of additional global production shifting over.

Chinese is a lot of effort and they are already bi / tri lingual like Euros but try it and if you have the gift go for it. Emersion is best.

Maybe I should perfect Spanish first then. Thank you for the advice.

 

[XFactor7889]

OP, I'd definitely dig into what you really think you want from your career before pursuing a doctorate. I question this take of an extra 0 to your salary. The reason being is it implies a 7 figure salary, which is not common at all, especially for anything not at a C-level. If you look into the top paid CFO's backgrounds, many of them don't even have a master's degree, and none of them have a doctorate. So before you spend the time and money that's required for a doctorate, make sure you know better what you want out of your career.

 

[Shadow277]

OP, I'd definitely dig into what you really think you want from your career before pursuing a doctorate. I question this take of an extra 0 to your salary. The reason being is it implies a 7 figure salary, which is not common at all, especially for anything not at a C-level. If you look into the top paid CFO's backgrounds, many of them don't even have a master's degree, and none of them have a doctorate. So before you spend the time and money that's required for a doctorate, make sure you know better what you want out of your career.

That makes sense. I am mostly in the MBA program because my undergrad degree is absolute garbage (English). Second, I have 3/4s of the MBA degree paid for since I have the VA paying for it (GI Bill).
So a few thousand for an MBA degree is worth it. Coupled with me starting as an accountant, I hope to be desirable in the Accounting/Finance department. I'll do this Accounting gig for two years so I can test for the CMA.

 

[XFactor7889]

That makes sense. I am mostly in the MBA program because my undergrad degree is absolute garbage (English). Second, I have 3/4s of the MBA degree paid for since I have the VA paying for it (GI Bill).
So a few thousand for an MBA degree is worth it. Coupled with me starting as an accountant, I hope to be desirable in the Accounting/Finance department. I'll do this Accounting gig for two years so I can test for the CMA.

In that case, you'll be in great shape to get a financial analyst position. There will certainly be a learning curve, as there is with everything. And in fairness to Hanavarian, as I know I've essentially challenged/contradicted each of their posts, it is not easy to be a good financial analyst; not everyone is cut out for it. But between the MBA, a staff accountant position on your resume, and the CMA, the only other things I would add are to find a good mentor that is willing to teach you the nuances of being a good analyst and learn how to use Excel if you haven't already. That will definitely set you up for a successful career in finance.

 

[Shadow277]

There is no right or wrong answer.

Algos and AI are the main competiton for financial analysist in a merket where algos handle 90% of trading volume.

MBAs are done a dozen. I would never hire one.

To earn the money get the MBA, maybe PhD (only an extra year) and get a law degree for tax lawyer.

Anyway you look at it thanks to common law tax code thats all grey area business accounting with law opens all options especially if you perfect Spanish and get some MX accreditation.

It's a ten year haul and anything you can do in Europe cheap will really cut the costs.

Maybe an employer will fund some.

Your answer sounds oddly specific and wouldn't a CPA be more desirable for taxes? Also, why wouldn't you hire someone with an MBA?

 

[Balr14]

I vote for law degree and tax lawyer.

 

[Shadow277]

I vote for law degree and tax lawyer.

I don't know anything about law so I'd fail the BAR exame.

 

[JimC]

I don't know anything about law so I'd fail the BAR exame.

Uh, that's why you go to law school - in order to learn the law and pass the bar exam.

If you mean the LSAT, that isn't a bar exam and you don't need to know the law to pass it. It is a test of your aptitude and thinking to try to predict how you will do in law school.

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