Canadian Securities Course

[TheRealTimHorton]

I'm just wondering if anyone has done this course and used the certification to help them land a job or anything along those lines.

Benefits to doing the course? Difficulty?

Cheers

[Skyline_Addict]

Benefits - A requirement to get into entry level retail banking positions that deal with investments. A stepping stone (but not necessarily a prerequisite) to other investment certfications.

Difficulty - If you have a post-secondary background and have taken some econ, finance or accounting courses, it's pretty straight forward.

[TheRealTimHorton]

Is the pay for entry level jobs like that enough to survive off of?

[ChappedLips]

Give the book a quick read and write the test, it really isn't hard at all if you have any background knowledge in the subjects.

[Skyline_Addict]

Originally posted by TheRealTimHorton
Is the pay for entry level jobs like that enough to survive off of?

That's a pretty hard question to answer.

However, you can expect a starting salary of 45-50k + bonuses. If you are in a position that is concentrated on selling investments, the bonuses could potentially be quite high based on performance (15% if you're doing ok, 30%+ if you're a high performer).

[l/l/rX]

CSC is only recognized in Canada. If you want something internationally recognized and are interested in how the hong kong financial world works, do your HKSI. Just throwing that out there.

[Speed_69]

Originally posted by Skyline_Addict


That's a pretty hard question to answer.

However, you can expect a starting salary of 45-50k + bonuses. If you are in a position that is concentrated on selling investments, the bonuses could potentially be quite high based on performance (15% if you're doing ok, 30%+ if you're a high performer).

People who work for the bank actually make this much starting?

I've heard stories about branch managers salaries and they are awfully low considering the responsibility they have.

[l/l/rX]

Originally posted by Speed_69


People who work for the bank actually make this much starting?

I've heard stories about branch managers salaries and they are awfully low considering the responsibility they have.

It depends on your branch, a branch with more foot traffic and higher volumes of mtg's, loans, etc etc will have a higher paying branch manager.

Here is what I know (my knowledge is based off of TD salaries for the most part):
-FSR (1 higher than teller) ~30k
-FA ~45k
-Accounts Manager (HSBC) ~45k
-Branch Manager 80-120k (again depends on your branch and level)

[Skyline_Addict]

Here's the thing.

The position "Financial Advisor" or FA for short, can be extremely differing roles at different financial institutions.

At TD, it is primarily a lending position. At Scotiabank it is investment/mutual fund focused. At ATB, it's actually quite a high position which deals with investments/mutual funds/estate planning/wealth management. Most "FA" at ATB only deal with clients with atleast 6 figure net worth.

When I said entry level, I was talking about entry level positions that deal with investments and likely require a CSC. Not entry level positions, period.

Also, much of Branch Managers' salaries (atleast at most places) is very bonus driven. The salary isn't much higher than most of the sales people, if at all. But the bonus structure could easily double the salary at a large branch that exceeds all its quotas. Gives the Branch Manager an incentive to get on your ass and drive the numbers up.

[TheRealTimHorton]

Imagine you knew how to operate an Oil Refinery single handedly with your eyes closed (you know the stuff really well). Now imagine you go to get a job at an Oil Refinery, during the interview they ask to see your certification and you have none; as a result, they deny you the job.

This is my position and why I started this thread.

I'm looking at becoming a broker or portfolio manager at some point and considering this as a starting point to break into the industry professionally rather than as a full time hobby.

Anyone know anything about the series 7 exams?

[dimi]

Originally posted by TheRealTimHorton
Imagine you knew how to operate an Oil Refinery single handedly with your eyes closed (you know the stuff really well). Now imagine you go to get a job at an Oil Refinery, during the interview they ask to see your certification and you have none; as a result, they deny you the job.

This is my position and why I started this thread.

I'm looking at becoming a broker or portfolio manager at some point and considering this as a starting point to break into the industry professionally rather than as a full time hobby.

Anyone know anything about the series 7 exams?
Shouldn't be hard at all...


Originally posted by TheRealTimHorton
This reminds me of probably the best advice I've ever gotten:

An engineer can always become a business man, but a business man can not always become an engineer. :)


I haven't taken the CSC, nor do I plan to, but from what I have gathered it is quite an easy course. A few people I know have passed the CSC, and then went on to fail the CFA L1. And I know a ton of people who have the CFA L1 done before graduating, so I think designations/certifications will do fuck all for you.

What you have is experience, and hopefully some contacts. I would leverage those two if you want to find a finance position.

[Speed_69]

Originally posted by Skyline_Addict


Also, much of Branch Managers' salaries (atleast at most places) is very bonus driven. The salary isn't much higher than most of the sales people, if at all. But the bonus structure could easily double the salary at a large branch that exceeds all its quotas. Gives the Branch Manager an incentive to get on your ass and drive the numbers up.

Okay that's what I thought because I have a friend who works at a bank and told me before that her branch manager makes a little over 50k. I asked my friend who's taking finance in school and from what he knows, that sounds about right to him as well.