01-01-2004, 08:31 AM
Cheers Guybrush and Sumaaan, for your endeavours in taking time and answering my queries. However, I have now got few questions relating to what has been said in your answers.
Firstly, I took the impression that both of you were quite keen on having done a MBA and/or CFA programme. I appreciate your viewpoints, but the matter of fact is that for MBA, reputed business schools do not take on graduates until unless they have at least 2-5 years of good work experience. Secondly, leading to this point yet again, I think that the MBA should only be required at the Associate level, which is about 2-3 years after the Analyst programme, a graduate entry position for US/UK banks. So, could you please clarify whether MBA is also a pre-requisite for the starting graduate position in Pakistani Investment Banks?
For the case for CFA, I am also quite certain that its uses are only apparent in the later managerial positions, so how come CFA could be classified as a pre-requisite for graduate entry-level positions?
Further more, you would know that CFA programme takes about 3 years to qualify, so what should an individual do in that 3 years? Is it not much more efficient that you study for CFA whilst you are in the investment-banking arena / job, as then may not only the employer subsidise your expenses / tuition fees etc., but you would certainly get the practical experience? Please comment.
As regard to the actuarial qualifications are concerned Sumaaan, I think most investment banks would hire the expertise from the actuarial consultancy rather than employing a qualified actuary within their mergers & acquisition team. This is surely possible because investment banks would not take risk in training an individual for such a long time, with no security at all, that whether such employee would remain with the firm after qualification or not. This is a perfect example of Free Rider Problem in economics. Please comment as well.
Having said this, I highly appreciate your comments and would definitely take into account, before taking any step.
Happy New Year to all!!
AHSAN
Firstly, I took the impression that both of you were quite keen on having done a MBA and/or CFA programme. I appreciate your viewpoints, but the matter of fact is that for MBA, reputed business schools do not take on graduates until unless they have at least 2-5 years of good work experience. Secondly, leading to this point yet again, I think that the MBA should only be required at the Associate level, which is about 2-3 years after the Analyst programme, a graduate entry position for US/UK banks. So, could you please clarify whether MBA is also a pre-requisite for the starting graduate position in Pakistani Investment Banks?
For the case for CFA, I am also quite certain that its uses are only apparent in the later managerial positions, so how come CFA could be classified as a pre-requisite for graduate entry-level positions?
Further more, you would know that CFA programme takes about 3 years to qualify, so what should an individual do in that 3 years? Is it not much more efficient that you study for CFA whilst you are in the investment-banking arena / job, as then may not only the employer subsidise your expenses / tuition fees etc., but you would certainly get the practical experience? Please comment.
As regard to the actuarial qualifications are concerned Sumaaan, I think most investment banks would hire the expertise from the actuarial consultancy rather than employing a qualified actuary within their mergers & acquisition team. This is surely possible because investment banks would not take risk in training an individual for such a long time, with no security at all, that whether such employee would remain with the firm after qualification or not. This is a perfect example of Free Rider Problem in economics. Please comment as well.
Having said this, I highly appreciate your comments and would definitely take into account, before taking any step.
Happy New Year to all!!
AHSAN
