To be practising financial banker/consultants, you must have
clear a certain range of CMFAS papers under the authority of MAS.
Having a diploma should be sufficient to qualify for the exams.
Even you have a MBA, w/o this certification you are not allowed to
trade (correct me if I am wrong)
A banker needs alot of network, connections to cross sell &
advise. Market is very competitive. Many enter but only a handful
made it. It is a stressful lifestyle. Can you wake up 3am in the
midst of your sleep to handle a nuisance call from one of your
client? Will you do grocery shopping to provide the extra mile for
your clients? These are not jokes but true events that I had seen
from my peers. No rest/off, even on MC to hv to be on call. many a
time, it is always the fairer sex that made it.
You hv to be the top 5% in sales to survive becoz in event of
any layoff, sales personnel (ie banker) are the first to go. The
training is tough. For ex, UOB personnel banker training has a few
stages and at each stage many were chopped off. Even if you are a
degree/MBA holder, as long as u do not generate sales regular,
offyou go.
Banker/consultant provide a whole range of products, from
insurance, fx, deriatives, unit trusts and financial planning. Some
will be very analytical in the products they sell, others will just
close their eyes and whack as long as sales is made. Which one will
u be?
