Will passing the CFA level 1 help me get an entry level equity analyst position?

I have an MBA from a 3rd tier school (University of Florida) and I have my series 7 and 66 from when I was a financial advisor for like 15 minutes right out of college. I've been in the area of operations for about 5 years and want to make the jump into an investment analyst position. Is taking the CFA level one the best route? Please help, I have no idea what steps to take.

Successful completion of CFA Level I certainly should help to distinguish you from other candidates. Completion of Level I demonstrates at least beginning knowledge of the "Body of Knowledge" which includes economics, quantitative methods, financial reporting and analysis, equity analysis, fixed income, some derivatives and portfolio management. As you may know, the pass rates on levels I and II of the CFA are quite challenging, and successful completion speaks highly of your interest and diligence.

Entry level positions in equity research analysis frequently are at the associate level. Expect to be spending a lot of time constructing financial models. Your career plans would be well served by adding some advanced Excel coursework too.

Good luck in your deliberations!

Yes, taking the CFA level one and TWO exams are the best route. Passing Level One may "qualify" you for junior analyst. Then, passing Level 2 may "qualify" you for the work of a supervisor of analysts.

Yes, this is a good way to move out of "operations" and into investment analysis.

By the way, it sounds like you want to work as an investment analyst in a major money center. (big city)

One good alternative way to jump into an investment analysis position, is to apply for such a job in a far corner of the world, where there is less competition for analyst jobs. Move up the ladder, in that distant location, then years later... move back to your home city, after impressing the big bosses in your home city, with your achievements in research (in that remote location).

For instance, i know that many outsourcing companies in the Philippines are hiring people left and right, to do investment research (and analysis), for the benefit of western stockbrokers. You could make a fresh start there.

What steps to take: register for the CFA exam, and study 3 hours a day for FIVE months. Form a study group. Be persistent and patient. Be aggressive as well, in searching for that ideal job in investment research....

The CFA program compresses a lot of learning (learnings of other people from their work experience) into a curriculum... A lot of things, that normally just come about by work experience, can actually be learned in books and group discussion.

Regards, SANDY G

i set up sgL1@yahoogroups.com to assist Level-one exam takers.