Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

CFA Events Calendar

View full calendar

CFA Events Calendar

View full calendar

Recommended Discussions

See how our partners can help you ace your CFA exams.

Passed CFA Level 3 Exam. Can't find a job.

Finding it strange as much as I'm currently finding it difficult to even get an interview call. I've been looking for a job in Mumbai since June this year but I've just gotten one interview call till date. This despite the fact that I have 1.5 years of experience and also just passed my CFA Level 3 exam. Is anyone else feeling the same effect? Makes me feel very discouraged and think the whole effort was all a waste of time.

Also it seems that I have to be a charterholder to be a member of the local CFA society so I'm really not going anywhere with my networking.

Please let me know if you know of any job openings or any contacts who may be willing to take a look at my credentials. Thanks in advance.


  • RoyD said:

    Also it seems that I have to be a charterholder to be a member of the local CFA society so I'm really not going anywhere with my networking.

    You can apply for affiliate membership which is for anyone that hasn't yet fulfilled all the requirements for regular membership. Other than that all membership benefits are available to affiliate members as well.

    Try and volunteer for a committee position (just write to them and ask) as they usually are keen for anyone to help out. I wouldn't be put off by the fact that you're not a 'full' member yet - some committee members aren't fully CFA-qualified and even the CEO of my society has only taken CFA L1. As a committee member you do get to spend time with a lot of well-connected people so that might help you a lot.

    Job hunting can also be a function of the economy - I don't have many contacts in India but I'll put out some feelers and let you know.
  • edited September 2017
    Sorry to hear that dude. 3 months without an offer is not unusual, but just one callback is rough. Are you a fresh grad or with experience?
  • You can apply for affiliate membership which is for anyone that hasn't yet fulfilled all the requirements for regular membership. Other than that all membership benefits are available to affiliate members as well.
    I tried doing that but my application doesn't get processed because I think the Indian CFA Society requires 4 years of experience. I completed my application online but it kept asking me to complete filling out the experience part.

    @fabian I have 1.5 years of experience in Credit Analysis. I only had 2 interview calls in the 5 months that I was in Mumbai. Due to my excess bad luck one of those was an interview scheduled one day after I was supposed to travel to Bahrain to find a job and for some reason they didn't want to do a telephonic interview.

    I'm in Bahrain rn but it doesn't seem too promising here either as I just had one interview in the past month.
  • 1.5 years is tough, usually they tend to offer grad positions to people with under 2-3 years experience.

    Not that it would necessarily be a game-changer, but I think you should follow up on affiliate membership. It doesn't say anywhere that 4 years' experience is needed, and that there are different requirements for different regions. Just fill in the experience bit with your 1.5 years and give it a shot?
  • I'm not looking for some front office Investment Banking role. Just a decent paying entry level job but even that's too difficult.

    I think the affiliate membership is dependent on the Society and the Indian society is called IAIP for some reason.
    I can't submit the application because it keeps saying the work experience section is incomplete.

    I'm honestly starting to think the CFA charter is useless.
  • It's not like the bar exam where a whole new secret area of jobs opens up to newly-graduated CFA people. It's something extra to add to your resume and you're slightly better off in your job search than without. market forces and individual circumstances and the quality of your overall resume are much stronger factors and will always be regardless of qualification.

    Job searches are hard, partly because as you're experiencing there is no indication of progress. It usually does work out in the end but only if you keep at it. Good luck!
  • That's why I think it's a waste. 1000 hours of studying just for something fancy on your CV. There are 1000 other courses which can make your CV look attractive. For all I know I should've just learnt Financial Modelling for a fraction of the money and effort I put into the CFA exams. Even doing ACCA would've been worth more. The only thing I don't feel disappointed in is that I didn't spend a huge amount of money on doing an MBA program.

    I guess I should've done more research before getting into this.
  • It's only a waste of time if you think you would have done something way more productive. Financial modelling courses definitely do not swing as much weight. Not familiar with ACCA so can't comment.

    Best thing you can do going forward is to leverage what you do have and make it work. I know this sounds like 'think positive' stuff that you've probably heard a thousand times before but this offers the best chance of results for you rather than wondering if you should have done things differently.
  • Going to hit the 6 month mark on being an unemployed job seeker. I guess I have no other option but to try and be positive and continue a search that seems more unlikely to get anywhere as each day passes. Don't think I've ever felt this miserable for so long in my life.
  • I'm currently in between jobs as well - lost my job three months ago and no leads. The run-up to christmas doesn't help. It gets easier to deal with it mentally when you've got more experience, your self-confidence takes up less of a battering. Just know that as long as you keep trying you will get something in the end.
  • @RoyD I am in a similar position after clearing my L2 , looking for an entry level job with no luck, atleast i can study in my spare time. 
    - A fellow Blue from Delhi.

  • Providence12Providence12 Providence, RIPosts: 3 Associate
    Hello Everyone. I am an insurance company analyst with an undergraduate degree in accounting and a Master’s Degree in Personal Financial Planning with an interest in pursuing the Chartered Financial Analyst (CFA) designation subsequent to finishing another designation that I am currently pursuing. However, I do have a question(s) regarding the experience requirements for the CFA. According to the CFA Institute, one must have 4 years (48 months) of experience in “evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process; supervising persons who conduct such activities; or teaching such activities” and “at least 50% of your time should be spent directly involved in the investment decision-making process or producing a work product that informs or adds value to that process. Work must be full time and can be earned before, during, or after participation in the CFA Program”. I work for the Insurance Division under a State Department of Business Regulation. My main concentration is in “Foreign Company Licensing/Analysis” and secondary to that is “Market Conduct Analysis” with duties & responsibilities as follows:

    1. Foreign Company Licensing:
    • Foreign Company Licensing is the process of analyzing and determining if a foreign insurance company (an insurance company selling policies in a state other than the state in which they are incorporated or domiciled) is eligible to be considered for a license to transact insurance business within another jurisdiction.
    • I prepare rigorous and independent financial and operational analyses of foreign insurance companies of all types (life and health or property and casualty, etc.) with a focus on financial solvency by assessing capital & surplus, investments, reserves, cash flows, profitability and other areas. Other analytical duties include performing projections, reviewing mergers & acquisitions and investment strategies & portfolios. Resources used throughout the analysis are as follows:
    o Annual & quarterly statements (Statutory-Based Accounting)
    o Various NAIC-database reports on financial ratios & information
    o Reports on investment strategy, portfolio & management
    o Enterprise Risk Management
    o Proposed plan of operation
    o Business plans & strategies
    o Corporate governance & management
    o Independent Certified Public Accountant’s Report, Management Discussion & Analysis and Actuarial Opinion
    o Analysis reports from domiciled jurisdiction
    o Analyses and ratings from insurance rating agencies on a Company’s financial condition & investment position

    The Company applying for a state license is looking to expand its business geographically and invest capital through a foreign investment (an investment in a foreign jurisdiction). The analysis subsequent to reviewing the application will determine if the Company’s presence will or will not be detrimental to the residents of the state. In conclusion, a final decision is made whether or not to accept, deny or ask the Company to withdraw its application.

    2. Market Conduct Analysis:
    • Market Conduct is defined as "a common term used in the insurance industry to describe problems associated with the distribution and sale of insurance".
    • Responsible for managing and performing analyses of major insurance companies' marketing, distribution, underwriting (includes pricing), rating, policyholder service, complaints handling and claims handling processes to verify compliance with state insurance laws that include financial solvency, investment requirements and consumer protection.
    • Major emphasis on consumer protection and oversight of company conduct through market conduct analysis and examinations.
    • Ensure consumers have access to beneficial and compliant insurance products, and are protected against insurers that fail to operate in ways that are legal and fair to consumers.
    • Analyze various insurance products such as life insurance, disability insurance, healthcare, long-term care, annuities, and property & casualty.

    I'm thinking that Foreign Company Licensing/Analysis (see #1 above) will be more applicable towards the CFA experience requirements due to its analytical role and involvement with investments. As CFAs or CFA candidates, I was wondering if this role (Foreign Company Licensing/Analysis) can full-fill the professional experience requirement for the CFA? If yes, please let me know and if not, please explain why? Also, are there any recommendations to possibly edit/re-word my job description above in order to make it applicable towards the professional experience requirement for the CFA? I would appreciate any advice and/or assistance. Thank you in advance for your cooperation.
Sign In or Register to comment.