Because everyone's situation is different, taking CFA practitioners' investment analysts as an example, the career development of financiers has been popularized for everyone.
I analyst (analyst)
Analysts in investment banks are generally two-year programs for fresh graduates from major universities, and newly graduated college students generally start here. Since I am an analyst, my job is nothing more than some data analysis and industry research. Some of them need to establish some preliminary models, including mergermodel, DCF, LBO and so on. , and then hand them over to employees for further review and processing.
At the end of the research, PPT should be used to present the research results, so PPT will be often used in this position. Of course, as a junior position, it often involves a lot of miscellaneous things, which is always the basis of investment banking and a training position.
Generally speaking, this position can be promoted after three years, and most financial personnel begin to learn CFA in this position. Forward-looking college students who have passed CFA level before graduation can greatly shorten their working time at the grassroots level and become associate professors in two years or even a short time, which is also the position we will talk about next.
II. Associate Manager (Deputy Manager)
Assistant is a higher position than analyst, either promoted from analyst or high flyers or CFA holder of various financial majors. As a small leader of analysts, Associate still needs to do some analysis work, but it is just a little technical work, responsible for more complex modeling. Employees should also assign tasks and undertake administrative work according to the arrangement of the company or superiors, mainly responsible for communication with customers.
Although he is the leader, the assistant's job is not easy. He needs to work overtime every day and is in charge of the whole team. This position requires a certain financial knowledge background, so the MBA or CFA holder who likes it very much, even if he only passes the CFA Level 2 exam, will be welcomed. Usually, employees will work in this position for three to four years, and then they can learn enough skills to move up to a higher position.
Three. Vice president (vice president or manager)
If you successfully enter the VP stage, congratulations on your sublimation. VP generally refers to all senior deputies, whose work should guide assistants and analysts, and at the same time, they should have some contact with the external environment. Many CEO's too busy work will be handed over to VP.
The work of the vice president is mainly composed of two parts. One is that as a project manager, when D or MD receives a transaction, it is responsible for implementing the agreement. The other is to plan all necessary processes and tasks assigned to employees and ensure smooth progress. VP is also the core personnel to contact customers and support, such as accountants and lawyers.
It is not easy to achieve VP, and it is even harder to get promoted. Vps in the industry generally work for 3 to 15 years before they have a chance to be promoted. Besides experience, ability and luck, all kinds of self-improvement are indispensable. Most financiers try their best to pass the CFA Level 3 exam and submit a certificate application for this position. If they are already CFA holders, that would be great.
Four. Directors (general manager, directors)
Depending on the size of the investment bank, directors may or may not exist. The director is responsible for cost negotiation, trading strategy, customer meetings and other important transactions. There is also marketing to attract customers. The nature of MD's work is similar to MD's, but the focus is on important customers.
Verb (abbreviation of verb) general manager
The director will be promoted to general manager in about three years. MD level has a high business income index and the responsibility of maintaining important customers, and participates in the formulation of the company's overall strategy and business direction.
If MD develops further, it will be the manager or CEO of each branch. At this time, if there is no CFA, it is not appropriate.
The above is a typical investment bank title sequence. Some financial institutions will set up some intermediate titles, such as assistant VP(AVP) or senior VP(SVP) or VP. The only constant is the requirement for people's ability and certificate.
Of course, CFA's help to career development is more than that. From the perspective of career development, a CFA certificate representing your excellent financial theory and rich work experience can help you achieve your goals gracefully and efficiently. Now vc/pe is a very fashionable word, and there are many successful cases of venture capital in China. There are not a few financial people who want to enter the venture capital circle or private equity circle. If there is no CFA certificate with high gold content, I'm afraid I can't even get into the threshold.