Career Advice RE Institutional Sales

MHH89 · Aug 10, 2010

Hey Guys

For the past two years I have been trying to make a move into institutional sales from my current role in the middle office. I have no real sales experience so I have been applying for junior sales assistant/sales analyst roles. I have been landing a few interviews but I am always told that I do not have enough experience etc etc. I have basically exhausted my network and was wondering if anyone has any tips or advice on how I might better position myself for a junior role on an institutional sales desk. Any and all help is appreciated and thank you in advance.

Xericx · Aug 10, 2010

acquire sales experience.

sell cell phones at the mall on the weekend.

gdl203 · Aug 10, 2010

Read tons of research. Read the FT and WSJ every day. Prepare several stock pitches with thoughts that you have developed (not just paraphrasing a report). This is the only way you'll make a strong impression in an interview.

unjung · Aug 10, 2010

What would be a better asset, MBA or CFA?

MHH89 · Aug 11, 2010

Originally Posted by unjung

What would be a better asset, MBA or CFA?

CFA hands down

unjung · Aug 11, 2010

Originally Posted by MHH89

CFA hands down

Good.

Pennglock · Aug 11, 2010

Originally Posted by MHH89

CFA hands down

Not so sure about this... Almost everyone I know in sales went the MBA route.

gdl203 · Aug 11, 2010

Originally Posted by Pennglock

Not so sure about this... Almost everyone I know in sales went the MBA route.

+1

CFA for buy-side but most people on sales desks are either straight through college or MBAs. CFA can't hurt of course.

MHH89 · Aug 11, 2010

I think having an MBA is a great way to get into sales but having the choice between an MBA and CFA, you have to go with the CFA.

archetypal_yuppie · Aug 11, 2010

There are a lot of boutique banks hiring in institutional sales. Rodman & Renshaw for instance. But they all look for either 1) sales experience or 2) industry knowlegde.

No I do not work for them, or in sales. If you had a CFA charter it would be easy.

gdl203 · Aug 11, 2010

Originally Posted by MHH89

I think having an MBA is a great way to get into sales but having the choice between an MBA and CFA, you have to go with the CFA.

I don't know what this means. Hopefully you can express your thoughts more clearly in interviews.

pscolari · Aug 11, 2010

I think at my firm it is about 50 50 with MBA or CFA. Then there are the small subset of people who have both as well as an additional subset who have MBA, CFA, and CAIA. Damn letter collectors.

bigbris1 · Aug 11, 2010

Originally Posted by gdl203

I don't know what this means. Hopefully you can express your thoughts more clearly in interviews.

MHH89 · Aug 11, 2010

Originally Posted by gdl203

I don't know what this means. Hopefully you can express your thoughts more clearly in interviews.

Bottom line is that if you are applying for sales position and you have either an MBA or CFA, you are going to be a cut above an applicant who only has a college degree.
I personally think that a person with a CFA has a better chance than someone with an MBA in a sales trading environment only because the CFA coursework is more technical and geared towards sales/trading/asset management while MBA coursework is more fundamental and geared towards IB/investment management.

cchen · Aug 11, 2010

Originally Posted by MHH89

CFA coursework is more technical and geared towards sales/trading/asset management while MBA coursework is more fundamental and geared towards IB/investment management.

not really

Career Advice RE Institutional Sales

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