sj0509 wrote:
Wow, this whole discussion about finance related goals is something to think about.
So you really can't put something in the essay that you feel you want to do - coz it might just seem to be too aggressive and unachievable given the current market scenario ?
For eg. I have 9 years exp. in IT, supporting the financial industry, and I want to switch into IM - Buy Side Equity Research. But that is probably a little tough in today's scenario. So if I write that, the adcom will look at my app skeptically ??
I cleared CFA Level 2 this june, and plan to take L3 next year. Does that add any credibility to my goal ?
Or should I play the safer card - and say I want to get into Sell-Side Research, and then work it out from there - into Buy-Side Research and eventually Portfolio Management.
That might truly be the way in reality - but then again someone could get straight into Buy-Side, couldn't he/she ?
Confused ...
sj0509,
Anything is possible. Its just less likely. I am currently in IB and I have a couple of friends in PE/VC. Both of them had bulge bracket experiences before entering into buy-side. Now buy-side "research" might be different (both of my buddies are in deal teams), because firms will be look for people with some industry background, not necessarily hardcore finance background. Your CFA definitely helps as well, but more so with investment management than buy-side research.
So I think you can simply state your short term goal as sell-side than your long term goal as buy-side. Essay one is perfectly set up for that. Hope this helps.