The Student Room Group

Investment Management Certificate (IMC) worth doing?

HI,

I am very interested in going into investment banking but have not yet got any interships or experience and was considering doing the IMC over the summer and paying for it myself.

I was wondering if this extra qualification will put me at an advantage when applying for internships and how much do employers value this?

thanks in advance
Reply 1
Not much of an advantage and not nearly as valuable as CFA.
However, very useful to prove that you are interested in finance, that you know something about finance and that you are willing to put the extra hours to get into finance.
Reply 2
Wouldn't care. I've seen plenty of CVs with at least CFA level 1 and a lack of work experience/extra-curriculars that I've binned.
Reply 3
oblivious
Wouldn't care. I've seen plenty of CVs with at least CFA level 1 and a lack of work experience/extra-curriculars that I've binned.


wow, so what do you look for to show extra commitment apart from uni and degree?

thanks
Reply 4
Intelligence only gets you so far. We like to see people with work experience and extra-curriculars which shows that the candidate is well-rounded and has developed some of the underlying skills required to succeed in the role.
Reply 5
I took the IMC last summer (summer 09) - both parts. I think it shows great initiative for someone at a uni level - granted it is not particularly trying if you can do basic maths and have an interest in financial markets and the instruments that are traded there, but I still think it's fairly impressive to be able to tell an interviewer that you took it and passed it off your own back, which is what I was able to do when UBS interviewed me and subsequently offered me an internship with them. It probably wasn't a major factor in my case; as the above poster mentions, you will need some relevant extracurricular activities too in order to persuade them of your interest in the field.

I was advised to take it by an acquaintance who worked in a hedge fund, for what it's worth. Feel free to PM me if you have any questions :smile:
Reply 6
domeden
I took the IMC last summer (summer 09) - both parts. I think it shows great initiative for someone at a uni level - granted it is not particularly trying if you can do basic maths and have an interest in financial markets and the instruments that are traded there, but I still think it's fairly impressive to be able to tell an interviewer that you took it and passed it off your own back, which is what I was able to do when UBS interviewed me and subsequently offered me an internship with them. It probably wasn't a major factor in my case; as the above poster mentions, you will need some relevant extracurricular activities too in order to persuade them of your interest in the field.

I was advised to take it by an acquaintance who worked in a hedge fund, for what it's worth. Feel free to PM me if you have any questions :smile:



do u mind me asking what extracurricular stuff u did that helped u get the internship

thanks
Reply 7
Also particularly interested to hear about perspectives on the CFA and IMC. Is the IMC particularly time consuming - i.e. hours required vs pay off?
Reply 8
Krazy123
do u mind me asking what extracurricular stuff u did that helped u get the internship

thanks



Stuff like trading on my own account, attending the Oxford Investment Banking Conference (2008), running a trading team for the University trading society, writing research documents on firms (I gave copies of this to the interviewer) and presenting my research to the trading society, running extra maths classes for first years....you just need to show that you're engaged with the financial world and you don't just want to be in IB because you read about how lucrative it was in The Guardian.
Reply 9
Radisson
Also particularly interested to hear about perspectives on the CFA and IMC. Is the IMC particularly time consuming - i.e. hours required vs pay off?



It's hard to judge the payoff, as we seem to have a polarity of opinions in this thread! I was told it looks pretty good for an undergrad to have it on their CV, but others (see above) think it's useless. It helped me, so I'd definitely recommend it, if only to show prospective employers that you're committed.

I spent about 4 weeks (about 2-3 hours a day) working on the IMC. That's per module.

If you've done any stats before, then you'll find the first portion of the Investment Practice module (cash flows, discounted models etc) pretty easy. None of it is hard, but there is a fair bit to learn. If you are dedicated, then you can easily do it in a summer and also take 5 weeks off for travelling, as I did.
Reply 10
domeden
It's hard to judge the payoff, as we seem to have a polarity of opinions in this thread! I was told it looks pretty good for an undergrad to have it on their CV, but others (see above) think it's useless. It helped me, so I'd definitely recommend it, if only to show prospective employers that you're committed.

I spent about 4 weeks (about 2-3 hours a day) working on the IMC. That's per module.

If you've done any stats before, then you'll find the first portion of the Investment Practice module (cash flows, discounted models etc) pretty easy. None of it is hard, but there is a fair bit to learn. If you are dedicated, then you can easily do it in a summer and also take 5 weeks off for travelling, as I did.


I've done quite a bit of stats and finance as part of my degree so expect a lot of the quant sections to be pretty straight forward. Do you have much knowledge of the CFA (specifically L1) and how the workload/subject matter compares to the IMC?

My next 6 months (before I start my career) will be spent in a low-demand job and I fancy doing something pretty useful alongside it. Will 6 months of weekends and the odd evening be enough to complete the IMC or CFA L1 in your opinion?
I am 28 years old and want to do imc as i m interested in financial market. But one of my friend told me i m over 25. No will give me any job or internship. What you think is it true?
I am 28 years old and want to do imc as i m interested in financial market. But one of my friend told me i m over 25. No will give me any job or internship. What you think is it true?
Reply 13
I am 22 years old and have a BA Politics from Leeds Uni, and an MA Law (Qualifying Law Degree). I have wanted to do commercial law, however recently I have considered finance (e.g - IB/IM), as it takes considerably less time to qualify. Would anyone recommend taking the IMC and/or CAIA? if so which ONE and why?
I have enrolled at Open Uni. I will be studying a MS Economics. I have traded on a mt5 account for the past year also. I am a novice trader. Will I get a job with that and imc? Or would I need more qualifications and experience.

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