What exactly does a researcher in the pharmaceutical industry do, and how is it different from a financial analyst?

There are many positions that can be held, such as investment consultants, investment bankers, securities traders, CEOs, chairman, partners, principals, investment directors, financial directors, accountants, auditors, market, investment company managers, securities analysts and fixed income analysts, portfolio managers, etc.

Everyone’s situation is different. Take investment analysts who are CFA practitioners as an example. We have popularized the career development path of financial professionals.

1. Analyst (Analyst)

The Analyst (Analyst) in investment banks is generally a 2-year program prepared for fresh graduates from major universities. Those who have just graduated College students generally start from this point. Since it is called an analyst, the work content is nothing more than some data analysis, industry research and other work. Some of them require the establishment of some preliminary models, including mergemodel, DCF, LBO, etc., and then hand them over to associates for further review and processing.

After the research is completed, PPT is used to present the research results, so PPT is often used in this position. Of course, as a junior position, it often involves a lot of miscellaneous things, which are always the basis of investment banking work and a position for training people.

This position generally takes 3 years to get promoted. Most financial people also start learning CFA in this position. Forward-looking college students have passed the CFA Level 1 exam before graduation. It can greatly shorten the time of working at the grassroots level. You can become an Associate in two years or even a short time, which is the next position we are going to talk about.

2. Associate (Deputy Manager)

Associate is a position one level higher than Analyst, either promoted from Analyst, or a top student in various finance majors or a CFA holder and so on. As the junior leader of Analyst, Associate still has to do some analytical work, but it is somewhat technical work and is responsible for more complex modeling. Associates are also responsible for assigning tasks and undertaking administrative work according to the arrangements of the company or superiors, and are mainly responsible for communicating with customers.

Although he is a leader, the associate's job is not easy. He needs to work overtime every day and be responsible for the work of the entire team. This position requires a certain financial knowledge background, so MBA or CFA certificate holders who are very popular will be welcomed even if they have only passed the CFA Level 2 exam. Usually employees will work in this position for 3 to 4 years before they learn enough skills to move to a higher position.

3. VP (Vice President or Manager)

If you have successfully entered the VP stage, congratulations on your promotion. VP generally refers to all deputy-level figures in high-level positions. They should guide Associates and Analysts in their work, and they should also have some contact with the external environment. Many tasks that are too busy for the CEO will be handed over to the VP.

VP’s work mainly consists of two parts. One is to act as the project manager. When D or MD receives a deal, he is responsible for executing the deal. The other is to plan all required processes and tasks and assign them to associates. And make sure it goes smoothly. The VP is also the core person who contacts customers and various support people such as accountants, lawyers, etc.

Being a VP is not easy, and getting promoted is even more difficult. VPs in the industry generally have to work for 3 to 15 years before they have the opportunity to be promoted. In addition to experience, ability, and luck, various self-improvements are also indispensable. Most financial professionals work hard to pass the CFA Level 3 exam and submit certificate applications in this position. If you are already a CFA charterholder, that is great.

4. Director (General Manager, Director)

Depending on the size of the investment bank, there may or may not be a Director. Director is responsible for important transactions such as fee negotiations, trading strategies and client meetings. There is also marketing to attract customers. The nature of MD's work is similar, but the focus is on important customers.

5. MD (Managing Director)

Director will be promoted to MD (Managing Director) in about three years. The MD level has high business revenue indicators and the responsibility of maintaining important customers, and participates in the formulation of the company's overall strategy and business direction.

As MDs advance further, they will become managers of various branches, or become CEOs. At this time, it would be inappropriate if you don’t have a very arrogant certificate like CFA.

The above is a typical sequence of investment banking titles. Some financial institutions will set up some intermediate titles, such as assistantVP (AVP), seniorVP (SVP), VP, etc. The only thing that remains unchanged is the ability to treat people. requirements and certificate requirements.

Of course, CFA’s help in career development goes beyond that. From a career development perspective, a CFA certificate that represents your strong financial theory and rich work experience can help you elegantly and efficiently Achieve goals. Nowadays, VC/PE is a very fashionable word, and there are many successful cases of venture capital in China. There are many financial people who want to enter the venture capital circle or the private equity circle. If you don’t have a high-value CFA certificate, you may not even have the threshold. Can't get in.