Dear Jarus
I am Joe, currently in my final year at the University of Lagos, studying Finance. I have read the “Road to Victoria Island” book and I find it very insightful.
I am very passionate about finance, and I am aspiring to pursue a career in investment banking. Upon graduation, I am not very sure what to do next.
Here is why- I am confused on whether to enroll for CIS or ICAN to start off. My projections are that I would be able to complete the CIS program under 3 years at most. Upon completion, should I enroll for ICAN?(considering the fact that my CIS certification may not offer me exemptions in ICAN. Meaning I might spend a long spell of about 5-7years in bagging both qualifications) Or conversely, should I start with ICAN and then take CIS( of which I would be offered exemptions. Bagging both qualifications in a shorter period, 5years at most).
I really need advice on what to do, what other options I may have? How relevant/ marketable CIS is?
NB: I have little/ or no likeness for Accounting, only considering ICAN for knowledge sake. Also, I do not think I can multitask as much. It would be much appreciated if I can get a response to this mail.
Thanks in anticipation.
Joe
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Dear Joe
ICAN is broader and generally gives you a wider option for jobs in Nigeria. CIS is restricted to stockbroking and similar jobs within the wealth management space. Most people that did CIS got ICAN first and then went for CIS. Hardly vice versa.
But since you don’t like accounting, you may ignore it and just do CIS. With CIS, you should be able to get jobs in stockbroking firms and medium size investment firms in Nigeria, subject to you doing well in job tests and interviews.
For real high level investment banking, a good MBA from a top foreign school or CFA is your best bet. But that’s not usually easy for a fresh graduate. They cost a lot of money. ICAN and CIS are cheaper, relatively easier and good starting point for a fresh graduate. CFA and MBA are best enjoyed after few years of working.
Think over it again – if you have made up your mind that investment management is your desire, start from CIS, except you can afford top MBA or CFA now. But ICAN could give you broader options, and possibly easier jobs, but may make you drift from your investment management career desire to a different field (eg accounting, auditing etc).
All the best.
Jarus
