Study Dilemma (1 Viewer)

[ilks]

Hi all,

I'm currently doing a Bachelor of Commerce at Monash with a double major in Finance and Economics.

I'm finishing at the end of the year and will have an average of about 61. Only problem is that I've failed 5 subjects in my degree, but have almost maintained a HD average in my last years and pulled myself up.

I'm sure I'm suited to the Financial market and am planning on going into IB/MB, but my undergrad grades are pretty crap.

If I were to undertake a Masters of Applied Finance and absolutely blitz the thing, would it improve my chances of a much better career?

The other thing is that because I've got a Finance background it'll only take me a year.

I'm also pretty confident I'll ace it, given my recent performance and my new lease on life.

Cheers guys
Ilks

 

[Huy]

In short: yes.

 

[ilks]

Cheers Huy,

I'm just wondering if it will make me look overqualified or whether they will pay a lot of attention to my reasonably average U/G results.

Do these guys care about Masters? I've been searching and reading all around here and it seems like getting Honours is the go to get into IB/MB.

Does my option open up a legit pathway into these careers?

TIA

 

[3li]

mate if u want to get into markets at a tier1

fk the master of applied finance

get an honours and get first class

alternatively get a masters of quant finance and have relevant work exp at a boutique for at least 12 months.

otherwise dont bother, 5 passes is, (not to be discouraging) quite miserable.

 

[Huy]

He didn't pass 5 subjects, he failed 5.

 

[velox]

mate if u want to get into markets at a tier1

fk the master of applied finance

get an honours and get first class

alternatively get a masters of quant finance and have relevant work exp at a boutique for at least 12 months.

otherwise dont bother, 5 passes is, (not to be discouraging) quite miserable.

It would help if your posts were accurate when giving advice.

It would be quite hard to get into honours in finance with lower grades. The MAF is a full fee paying program iirc, which has slightly relaxed entry requirements so you stand a better chance doing that.

The fact is, grades do not always reflect the quality of the candidate (95% yes they do, but not always). However you will need good grades to prove yourself to them. You could be a great trader, but have bad marks, you still wont make the cut.

Some firms like GSJBW wont take masters students if you have studied both degrees in commerce. However getting into honours might be hard. If you can get into honours, I would take the honours degree for sure.

Try to be involved in extra curic activities, as that will help your application and make sure you find a good reason as to why you did poorly in the first year.

 

[ilks]

Honours in Finance is out of the question. I can possibly do Honours in Economics, an avenue I am looking at.

But I'd much rather get further qualified in Finance.

The other question is, that if I start my MAF in 1st semester '09, how will I apply for grad jobs with my new "awesome" marks? I'll get results in the middle and end of the year, but the applications are usually at the start of the year?

Cheers

 

[BeeCom]

To the above posters giving advice, do you think it would be beneficial for the OP to attempt the CFA level 1 exam (hopefuly pass) to remedy his poor marks?

 

[Cookie182]

To the above posters giving advice, do you think it would be beneficial for the OP to attempt the CFA level 1 exam (hopefuly pass) to remedy his poor marks?

Whilst my opinin really has no weighting (first year lol) that is a good option . Since MAF doesn't seem like it will open that many doors, and honours will be hard to get into, beginning a professional accreditation could be a good start. However, i was under the opinion that you had to work for a years prior to undertaking CFA?

 

[ifsonotso_100]

To the above posters giving advice, do you think it would be beneficial for the OP to attempt the CFA level 1 exam (hopefuly pass) to remedy his poor marks?

u do know how tough the cfa exam is, most people need some solid experience in a financial firm to get a solid enough understanding to be able to get through its not recommended to have a crack straight after uni.

 

[BeeCom]

u do know how tough the cfa exam is, most people need some solid experience in a financial firm to get a solid enough understanding to be able to get through its not recommended to have a crack straight after uni.

I disagree based on the opinion of a finance tutor at UNSW who I respect very much and also looking through the sample papers. Any BComm acct/fins graduate should be able to pass if they spend all summer putting in a solid amount of study, especially if they do complimentary acct/fin subjects like financial statement analysis, options, interest rate risk management, portfolio management that cover a fair amount of the CFA lvl 1 already.

I don't see how work experience would help any one, as it seems very academic - i.e. text book learning.

Just my opinion.

 

[ifsonotso_100]

I disagree based on the opinion of a finance tutor at UNSW who I respect very much and also looking through the sample papers. Any BComm acct/fins graduate should be able to pass if they spend all summer putting in a solid amount of study, especially if they do complimentary acct/fin subjects like financial statement analysis, options, interest rate risk management, portfolio management that cover a fair amount of the CFA lvl 1 already.

I don't see how work experience would help any one, as it seems very academic - i.e. text book learning.

Just my opinion.

well after speaking to people who've done it, its recommended to do it after uve been in the industry a while. It is academic but lot of the stuff u learn on the job and formal training in financial firms helps heaps.

I don't know what uve been told but its unbelievably hard, and many sample papers are far easier than what you get on the day. Further to pass you need much higher than 50%.

 

[ilks]

Does anyone else have advice here?

Will an MAF help me get my foot in the door anywhere? Or are there better Masters Degree's or similar to consider?

Thanks

 

[Monstar]

Hey mate,

If you say you got an HD average over last few years i think employers would overlook the fails you had during the course of your degree as you have cosolidated that with as you say vastly improved grades.

I'd say just beef up your extracirrculars. just my opinion.

 

[§eraphim]

In any kind of labour market, applications are screened by WAM so he will get automatically rejected for nearly all banks.

 

[Loz_metalhead]

A pass average wont get you very far. If you do get interviews you better impress them so much that they overlook your wam.

 

[khosanman]

He has a credit average it sounds like. That is not too bad at all. I guess it may be tough to get an interview with the top banks, but certainly a good chance at the others. Maybe an IB boutique is the answer? Look into it

 

[3li]

unfrotunately thats mostly true wat seraphim said

if u dont get a d average for e.g. the hr of a bank i know wont evcen look at ur aps further (screening)

the only cr avg mates i kno that got into ib were the ones who skipped screening due to having previously worked there in backoffice

dude just get a hd avg or chances are less

 

[khosanman]

Yep, they get so many applications this is probably true See if you have a contact who can get you the interview maybe so you can skip this requirement.

But as I said there is nothing wrong with a boutique house, you can always move at a later stage when you have more experience if you want to be in one of these so called 'bulge bracket investment banks' so much.