Back office/ FA or Retail banking for a career in d current economy?

karithx

Hi All,

Hope nobody will get angry, if its wrong forum
I am graduate with 2.1 Hon's Degree in Financial Services. have little of experience in d industry, and currently got offered 2 positions/both at same time. One is 2years fixed term contract in retail banking for d graduate role, would be studying for qfa. 2cd is fund accountant entry level (permanent) for one of d companies in ifsc/ studying optional for acca or cfa. My concerns:

- in retail bank they offer more training in credit and branch, however d bank is 99% owned by govt. ,
- the second company, however had lower requirements for grades/ no test, plus there seems to be many same type of positions advertised.

I will work hard, dont mind d hours, however want a good experience, that i dont have 2 worry about new job after 1 year.

-The pay is higher on grad programme around 4k more than FA.

However d culture of d FA company is nice,but this art. worries me a bit
http://www.wallstreetoasis.com/forums/fund-accounting

If anyone have experience in the above roles, please help as I have 2 make quick decision.
Thanks 4 all advices

deejer

I am guessing that you would like to get a professional qualification. Both these roles offer you the opportunity to achieve different ones.

I work in financial services (not FA) and I am doing my accounting exams in my own time. I know a number of people doing funds accounting and doing their accounting exams who are trying to move because even though they are doing the exams through work they feel they are not getting good enough experience in the job.

The banking role I cant offer you much advise on. Nothing wrong with being 99% owed by the government, in fact its prob a plus:)

I think two words kinda stick out a bit in your post though - contract and permanent. You do your job well in the FS place then after 6mths your safe. I am wondering what the numbers are like for graduates offered full time positions in the bank.

Personally I would take the FS role. Gives you a chance to do your ACCA exams and become a qualified accountant which goes along way.

karithx

Hi Deejer,

Thanks 4 ur advice ok, so for d bank its 29k for graduate, where FA is 4k less. however, my main point is 2 get good experience. thanks anyway

deejer

A graduate programme by its nature will give you the better experience without a doubt. As you saying in your original post, money is not the most important thing. Gotta look long term!

In the FS role you will be trained into do your job, thats it for a year or so until you have that down and try to move to another department. Definitely not the most exciting of jobs but I was more looking at the opportunity of outside study.

karithx

Ok deejer,

thanks again