I am a recent graduate from Dalhousie University in Canada. I achieved a BComm degree with a 3.32 GPA. I am currently two years out of school, and am working at a PWM firm in Calgary. I've always dreamed of a career in banking, but was never ready to make the commitment until now. I believe that I am ready to take the plunge, but I need to get my foot in the door and am not sure where to start. I have a mediocre GPA from a non-target school, and all my previous work experience has been in the wealth management sector.
I know that I need to boost my resume with work experience and certifications to make up for my lack of academic achievement, but I'm unsure whether I should pursue my CFA and try to get in at the analyst level, or try to get into a target MBA program to try to break in at the associate level?
Two options - (a) go do an MBA and rebrand or (b) try and network your way into an MM boutique.
I recommend the former. You're two years out of a non-target, poor GPA and no relevant experience which makes you a very long shot candidate.
Given banks (big 5) are paying bonuses in the coming weeks, there is surely to be seats opening up across the board. However, as mentioned by rabbit, you should target boutiques. I would imagine analysts/associates currently at the boutiques will be trying to lateral into the big 5, meaning seats should be opening there too. 2021 has been another great year and teams across the street are looking to hire and grow their teams.With all that said, I would advise you to immediately start networking with all boutiques/smaller banks. If you are able to have your technicals nailed down, craft a good story as to why banking, and show genuine interest and understanding of capital markets, you should have a chance.
Spot on. Everyone is on the hunt for junior talent, and boutique analysts/associates will try to move up post bonus. Networking is the best approach to opening doors to boutiques.
OP, I'd still recommend going the MBA route. I don't mean to discourage you but as it stands, your profile is a long shot. You'll have more success and opportunity with an MBA if that is an option.
Do your MBA in the US at a top 10 program.
Short-term: network like crazy with the local boutiques to hopefully get your foot in the door. There is a great deal of boutiques in Calgary that take non-target candidates (Peters, Cormark, etc).
Long-term: study for your GMAT and get a (high quality) MBA to rebrand/boost your gpa/expand your network/get access to direct recruiting funnels.
Don't recommend: studying for your CFA because that'll take years until you have enough levels on your CV to make a meaningful difference.
This makes sense to me. There are currently a few positions that are accepting applications right now. In your opinion would it be a good idea to shoot my shot at these positions even though my CV isn't ideal? Or should I wait and spend a few years walking the path (Certifications, MBA, networking, etc) before trying to apply?
Definitely shoot your shot; however, it's basically a full-court shot at this point with a low GPA/non-target/no contacts at these firms. Regardless, your resume isn't going to materially improve over the next year, so you might as well apply now and then use a different email on the resume when you apply again in the future (in case they auto-reject candidates who are reapplying). They won't remember every single name of the candidates who have applied historically.
Moreover, apply to as many boutiques as possible, but IMO your time best spent is time spent attempting to network.
Agreed with all the other comments. Go for a boutique
off topic but all the girls from my school who went to dalhousie were absolute 10/10s
I'd consider this extremely relevant. I can definitely back up this claim haha
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