As a follow-up to last week’s ranking of the qualifications most likely to get you a job in financial services today, we’ve looked again at our CV database and extracted some information on the prevalence of popular financial services qualifications by bank.
The qualifications we’ve looked at include:
- An MBA
- Any mention of the CFA exams
- A PhD (in an unspecified subject) A CIMA accountancy qualification
- An ACCA accounting qualification
- An ACA accounting qualification
- Any qualifications from GARP
- The CISI diploma
- The DEA (French Masters Courses popular with quants)
- Prince qualifications used by project managers.
- The Certificate in Quantitative Finance (CQF)
- An MSc (in an unspecified subject)
- A ‘top MBA’ (defined as MBA from Harvard, INSEAD, London Business School, Wharton, IESE, or Columbia).
And the banks we’ve looked at include:
- Goldman Sachs
- Bank of America
- Morgan Stanley
- Barclays (Capital)
- Credit Suisse
- BNP Paribas CIB
- SocGen CIB
Specifically, we’ve looked at the percentage of EMEA-based people who’ve uploaded CVs mentioning each of the banks and qualifications above into our database over the past year. Needless to say, our method isn’t infallible: some people will have worked at multiple banks, some will have completed the qualification in question after working at the institution concerned; some may have worked for the bank specified years ago and it may have gone off the qualification since. Nevertheless, the data gives you a flavour. And the main flavour is this: qualifications don’t make an enormous amount of difference.
It seems that many people who’ve worked at the banks listed don’t have any of these qualifications. They’ve simply graduated from university.
On the other hand, if you do want to take a qualification, there are some clear trends. They includes the following:
- MBAs and CFAs are generally more popular among people who’ve worked at US banks
- People who’ve worked for Goldman Sachs, Morgan Stanley and Citi are far more likely to have a “top MBA” as defined.
- People who’ve worked for BNP Paribas Corporate and Investment Bank are far more likely than anyone else to have an MSc and far less likely to have passed a CFA exam.
- A CQF or CISI Diploma will apparently make only a limited difference to your chances of getting employed anywhere, although people who’ve done either qualification appear most likely to have worked at Barclays.
- The most qualified staff (defined as the % of people with any of the listed qualifications on their CVs) have worked at Morgan Stanley. The least qualified work at SocGen CIB.