OT: University/College Questions Part V

[ltpato]

You looking at Finance by any chance? From your questions that is the vibe I'm getting

Yes, I'm an independent student looking to get in JMSB for Finance and hoping to get any type of beginner bank/finance job this summer (ie: Bank Teller, Credit Analyst, etc.)

 

[Laurent]

Yes, I'm an independent student looking to get in JMSB for Finance and hoping to get any type of beginner bank/finance job this summer (ie: Bank Teller, Credit Analyst, etc.)

Independent as in non-graduating from CEGEP?

I'm from McGill so I'll be very biased over here, but if you want to work in banking (private equity, investment banking, equity research, corporate finance), I recommend McGill's program above JMSB's provided that you are able to get in it.

Now, assuming you have your mind set on JMSB, I would look at possibly getting in their Co-Op program, as not only it would enable you to get a good internship throughout the year, but these internships will also strenghten your resume, thus helping you get QUALITY internships during the summer.

 

[ltpato]

Independent as in non-graduating from CEGEP?

I'm from McGill so I'll be very biased over here, but if you want to work in banking (private equity, investment banking, equity research, corporate finance), I recommend McGill's program above JMSB's provided that you are able to get in it.

Now, assuming you have your mind set on JMSB, I would look at possibly getting in their Co-Op program, as not only it would enable you to get a good internship throughout the year, but these internships will also strenghten your resume, thus helping you get QUALITY internships during the summer.

1. Correct.

2. I wish I could get in McGill's Finance program as I know it's more recognized than JMSB's, but I guess it will all depends on how I fare at the end of my independent student cycle (I finish next semester) but I know you need a very high GPA to transfer McGill (something like 3.7 I believe, no?)

 

[covfefe]

Highly recommend taking the CSC if you want to get a banking job, it's not difficult and pursuing it prior to getting hired will really impress HR folks/Jr managers who are filling summer spots.

When you get into interview stages with a pool of soon-to-be or new grads, very few will have it completed so it's just an immediate leg up.

 

[waffledave]

Sorry but last question : How many hours were you working a week and also was there any kinds of benefits your workplace would give you?

I worked a normal 40 hour work week for the most part. It really depends.

When I started I was working in a retail banking branch, so my work hours were the work hours of the bank. The safe needed to be locked and secured by a certain time each day so overtime wasn't really possible and my position didn't allow me to work remotely.

I moved to the online/telephone banking centers to be a training manager and this is open 24/7. I still had a regular work week but my shifts were sometimes early/late/overnight depending on many factors, including time zones in BC and who I was working with.

When I moved to business financing I was working out of PVM and also had remote access so my official work week was 40 hours but often was much more if I was meeting clients at night or going to events or working on files from home. But I didn't necessarily have to be in the office at 8 am every day, there was some flexibility there.

Benefits are very good. Fantastic insurance, pension plan (defined benefit, although they don't offer that anymore), matching RRSP contributions (in company stock!!!). Time off was low-average, 2 weeks per year, later 3 weeks, 4 weeks after 10 years, 5 weeks after 25 years. Needed more given how rough the work could be sometimes IMO.

 

[waffledave]

Highly recommend taking the CSC if you want to get a banking job, it's not difficult and pursuing it prior to getting hired will really impress HR folks/Jr managers who are filling summer spots.

When you get into interview stages with a pool of soon-to-be or new grads, very few will have it completed so it's just an immediate leg up.

It is good to have but if you're looking for an entry level banking job you're better off getting your mutual funds license (investment funds in Canada, I think).

 

[covfefe]

Both are good to have, no arguments there. Depends on what you want to do. Take CFA 1 really if you want to open doors but that's an entirely different can of worms

 

[ltpato]

Thanks so much guys, appreciate the answers. In a perfect world I would love having the CFA, CSC and the IFC license, a deadly trio. We will see how things go for now, my first step is to get accepted in Finance and we'll see from there.

 

[Fazkovsky]

I may study as an independent student at Concordia mostly night and online class

 

[covfefe]

I wouldn't worry about JMSB v. Desautels; having some kind of in, a presentable resume, and decent-good grades will contribute much more to your success than having a brand name on your resume.

A lot of competitive programs in this world hire directly from the most elite schools and unless you are walking out of your undergrad with a ~4.0 you are going into the same pool as everyone from UBC to Dalhousie and everywhere in between. At that point it's a personality/environmental/network game more than it is a matter of prestige

 

[QuebecPride]

I wouldn't worry about JMSB v. Desautels; having some kind of in, a presentable resume, and decent-good grades will contribute much more to your success than having a brand name on your resume.

A lot of competitive programs in this world hire directly from the most elite schools and unless you are walking out of your undergrad with a ~4.0 you are going into the same pool as everyone from UBC to Dalhousie and everywhere in between. At that point it's a personality/environmental/network game more than it is a matter of prestige

What I usually say to people wondering whether you to go to McGill or not is that if you're staying in Québec, the place where you studied won't matter as much if you have good grades and work hard. If you're thinking about going elsewhere in Canada or in the the World, it's totally different. Having the McGill stamp is no doubt a bonus.

By the way, are you the one doing the CFA level II? I applied for a scholarship, and if I get it, I'll try level I next June. I received one for the CSC and will try to sneak the two exams after my Semester and during this Winter before studying for the CFA.

Do you or Waffle know what's the fastest track to get the rights to sell Stocks/ETFs?

 

[waffledave]

So I just got an offer for a position as a developer starting in June. I haven't graduated yet but they made me a good offer, I think I will take it.

 

[QuebecPride]

So I just got an offer for a position as a developer starting in June. I haven't graduated yet but they made me a good offer, I think I will take it.

Cool! How long do you still have to get your degree?

 

[waffledave]

Cool! How long do you still have to get your degree?

I should graduate after the winter semester, so ~6ish months or so.

 

[QuebecPride]

I should graduate after the winter semester, so ~6ish months or so.

Okay, for a moment I thought you would stop studying to go work. Good for you buddy.

I am also hesitant about whether or not to accept a job right away after my next internship or wait after my Masters next year. I have just applied to a top Finance program in Europe, and if I get in, I'll for sure get offered great opportunities, with most likely better terms than what I'll get if I sign right away.

How do you guys get to know what "good terms" are anyway? You talk with fellow students and compare what they get?

 

[waffledave]

Okay, for a moment I thought you would stop studying to go work. Good for you buddy.

I am also hesitant about whether or not to accept a job right away after my next internship or wait after my Masters next year. I have just applied to a top Finance program in Europe, and if I get in, I'll for sure get offered great opportunities, with most likely better terms than what I'll get if I sign right away.

How do you guys get to know what "good terms" are anyway? You talk with fellow students and compare what they get?

First off, I would never stop/delay my studies for a job. I turned down a VERY good position at SAP (a top software firm, one of the biggest in the world) because they wanted me to start right away, forcing me to delay my degree. I feel that if a company wants you, they will wait for you... and if a company REALLY wants you, they will be willing to commit to you right away even if you can't start for a while still (like in my case).

I hesitated to take this offer right away because I know that other companies were very interested in me, but they couldn't make me a concrete offer right away (they asked me to wait until ~Feb). I realize I took a bit of a risk because who knows what kind of offers I might get and from where... But ultimately, I like this company, I feel good about my opportunities there, and the offer they made me was at the price point I told myself would be enough to get me to commit immediately.

As for what is good terms... Hard to say. I use websites like glassdoor.ca to get a good idea of salaries in certain industries, in certain companies... It also gives you a good idea of what it's like to work at certain firms as people post reviews. It's a great resource, though some industries have less data compared to others. I basically took an average of salaries for new grads in my position and upped it a bit to say, ok, if I get offered this much, I will take it.

For me, it was simple... They made me a salary offer right out the gate with 0 experience (in this industry) that was the same as I got after 6 years working in banking. I had to bust my ass to get that at my old job, and it took me 2 promotions to a senior level before they gave me what this firm is offering me as a new grad... So I am pretty pleased with that!

 

[LyricalLyricist]

Delete

 

[LyricalLyricist]

Anyone have advice for a masters thesis student on how complex your thesis needs to be? My prof seems to be a little misleading so I'm wondering about a general consensus.

For some reason I feel I'm not really getting any guidance on how intense I need to make my work. I have no desire for a PhD so this won't be something on-going anyway.

 

[Brainiac]

Anyone have advice for a masters thesis student on how complex your thesis needs to be? My prof seems to be a little misleading so I'm wondering about a general consensus.

For some reason I feel I'm not really getting any guidance on how intense I need to make my work. I have no desire for a PhD so this won't be something on-going anyway.

What's the field?

 

[LyricalLyricist]

What's the field?

Engineering. Industrial to be exact.

We don't really make or design anything tangible so it may not be similar to many engineering works.

 

[ltpato]

I just applied to JMSB (I was an independent student) and I realized that they asked for my record transcripts from high school and cegep...does anyone know how much weight do they put on those transcripts?

 

[LyricalLyricist]

I just applied to JMSB (I was an independent student) and I realized that they asked for my record transcripts from high school and cegep...does anyone know how much weight do they put on those transcripts?

I can't be sure but probably little for HS and more for Cegep. I don't think the requirement is huge and if ever you feel you're better than your marks indicate you should find out about independent student status and re-apply after a good semester or two.

 

[ltpato]

I can't be sure but probably little for HS and more for Cegep. I don't think the requirement is huge and if ever you feel you're better than your marks indicate you should find out about independent student status and re-apply after a good semester or two.

Is it possible to be an independent student 2 times in a row?

 

[waffledave]

I just applied to JMSB (I was an independent student) and I realized that they asked for my record transcripts from high school and cegep...does anyone know how much weight do they put on those transcripts?

If you killed it as an independent student that's what they will take into account the most.

 

[LyricalLyricist]

Is it possible to be an independent student 2 times in a row?

I don't see why not but I've never done it.

Edit: Somehow I missed that you were already independent. You can do it as long as you like but core classes will not be open to you after a while(like 2nd year I think).

If you killed it as an independent student that's what they will take into account the most.

Pretty much. It's a probation of sorts. If you do very well it will supersede all previous marks.