I have been in touch with a lot of guys who have done their CFA (all three levels) and were looking for only relevant job opportunities in Karachi and Lahore. I always suggested them to move to Karachi and get some hands on experience here. I asked some of them to write their experience out and share it with me so that I can publish it here so that we all could learn something. This is the first response that I have received.
“After having seen the job market in financial industry in Lahore, I decided to come to Karachi and the following is the response from people in Karachi whom I networked with for job prospects. I did some research on the internet to find out about the relevant companies that I needed to target and afterwards looked for the right person with whom I could preferably arrange a brief meeting.
My network of people were Heads of Research Departments or Heads of Corporate Finance. When I came to Karachi, I called each and every person one by one, requesting them to meet me. Some responded well while others declined.
Some of those who responded well did spare some time for me and met me in person and even had a kind of an informal interview with things related to finance. And some of those who responded well, talked on the phone and discussed the gloomy job prospects in the financial industry. Others simply declined to meet me in person and didn’t discuss much.
The main problem that I faced in Karachi regarding career prospects was the lack of know-how of business modeling and some practical issues prevailing in the market. Otherwise, in terms of bookish knowledge or theory, I was fine. Apart from this thing, other people repeatedly said that they were adequately staffed and did not require any inductee”
Points to be noted from his experience are:
1. Job prospects of CFA in Lahore are limited.
2. The job opportunities in the financial sector these days are small owing to the financial crisis.
3. Lack of practical knowledge has been the major hurdle in getting the job and just having all the 3 levels of CFA cleared did not get him an added advantage or attention.
4. Lack of financial modeling skills is one of the major set back for any finance student looking to enter financial industry.
What was your job hunt experience like in the financial industry?