Chances of getting an IB role? Currently a data analyst with Math undergrad and MBA. Will a CFA help if I don’t have explicit product knowledge?

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Based on my experience in transitioning to investment banking, the CFA didn't have a significant impact. As an engineer who made this switch, I found that the most impactful aspects were acquiring skills in valuation and financial modeling. To break into the industry, you need to network extensively and aim to secure a referral from someone within the field.

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I second this advice about networking. In order for any company to take a chance on you (rather than hiring someone who already has IB experience) you're going to need to prove that you bring something special to the table. So acquire the skills, join some professional networks and make friends with the right people. You might start with IBs at Wells Fargo if you haven't already

CFA does not help. If you already have an MBA chances are pretty slim with no relevant experience

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Really? I feel like CFA is the only thing that helps me. I got into ib and interviewing for new jobs and I am always asked about my participation in the CFA program. It was perceived very highly in interviews I’ve been on. It gave me a solid foundation in financial statement analysis and therefore, financial modeling. I learned things that even top MBAs didn’t know in FSA and financial modeling

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I generally ignore it in recruiting, as do most of my peers. I realize that it helps with certain relevant foundational finance skills, but those are table stakes that we test for in the interview process either way

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CFA is worthless in IB. It’s helpful if you want to purse asset management or financial planning.

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