BPO/call centre experience:

[kunalchowdhury]

BaBu,

Joining KPOs, I'm roughly getting the same salary now. So, I don't think it's very attractive. However, wat wud be the options there? I mean, which companies generally recruit candidates without experience? Do u know some?

Full-time MBA doesn't seem feasible to me at this point of time. Due to the financial constraints, I am not in position to leave my job.

N yes, completing CIIA wud take around an year or so. Probably, this is the best option I have with the given constraints.

Regards,
Kunal

[BaBu]

BaBu,

Joining KPOs, I'm roughly getting the same salary now. So, I don't think it's very attractive. However, wat wud be the options there? I mean, which companies generally recruit candidates without experience? Do u know some?

Full-time MBA doesn't seem feasible to me at this point of time. Due to the financial constraints, I am not in position to leave my job.

N yes, completing CIIA wud take around an year or so. Probably, this is the best option I have with the given constraints.

Regards,
Kunal

Well Kunal, OPI hires CIIA/CFA as valuation analyst in bangalore. I know someone who has worked in HP and genpact bangalore after CFA as a financial analyst.

Every KPO company hires fresh financial analyst provided candidate has a strong grasp of valuation which is covered in CIIA/CFA coursework.

KPO works within a set and rigid cost structure. OPI pays Rs 2.82 lakhs p.a + incentive fixed for financial analyst. They cant pay more then that nullifying the fact you are global CFA or Indian CFA or CIIA or CIIA + CFA.

But with a financial research background, there is an opportunity in the future to take a big shot at hardcore research analyst jobs in IBs, private equity and consulting firms.

You can expect 3 lakhs as a starting package for financial analyst + incentives. However, the upward spiral in terms of wages in high end backend research is faster then business transaction services.

The current billing is $ 12-15 hour in transaction/voice services and $ 25-30 per in financial research. 2 years KPO experience will magnify the service worker wages as compared to 2 years BPO experience.

Even if you decide not to shift to financial research, CIIA will assist you in internal promotions.

[kunalchowdhury]

Originally Posted by BaBu

Well Kunal, OPI hires CIIA/CFA as valuation analyst in bangalore. I know someone who has worked in HP and genpact bangalore after CFA as a financial analyst.

Every KPO company hires fresh financial analyst provided candidate has a strong grasp of valuation which is covered in CIIA/CFA coursework.

KPO works within a set and rigid cost structure. OPI pays Rs 2.82 lakhs p.a + incentive fixed for financial analyst. They cant pay more then that nullifying the fact you are global CFA or Indian CFA or CIIA or CIIA + CFA.

But with a financial research background, there is an opportunity in the future to take a big shot at hardcore research analyst jobs in IBs, private equity and consulting firms.

You can expect 3 lakhs as a starting package for financial analyst + incentives. However, the upward spiral in terms of wages in high end backend research is faster then business transaction services.

The current billing is $ 12-15 hour in transaction/voice services and $ 25-30 per in financial research. 2 years KPO experience will magnify the service worker wages as compared to 2 years BPO experience.

Even if you decide not to shift to financial research, CIIA will assist you in internal promotions.

This piece was really informative!

I think, then it wud be best for me to just concentrate on the CIIA now n explore the opportunities as soon as I'm done...!

Thanks a lot for the suggestions. Have a great day!

Cheers,
Kunal

[harshg]

@Babu-- if the OPI entry level is 2.82+ .how much is the take home?

Originally Posted by BaBu

Well Kunal, OPI hires CIIA/CFA as valuation analyst in bangalore. I know someone who has worked in HP and genpact bangalore after CFA as a financial analyst.

Every KPO company hires fresh financial analyst provided candidate has a strong grasp of valuation which is covered in CIIA/CFA coursework.

KPO works within a set and rigid cost structure. OPI pays Rs 2.82 lakhs p.a + incentive fixed for financial analyst. They cant pay more then that nullifying the fact you are global CFA or Indian CFA or CIIA or CIIA + CFA.

But with a financial research background, there is an opportunity in the future to take a big shot at hardcore research analyst jobs in IBs, private equity and consulting firms.

You can expect 3 lakhs as a starting package for financial analyst + incentives. However, the upward spiral in terms of wages in high end backend research is faster then business transaction services.

The current billing is $ 12-15 hour in transaction/voice services and $ 25-30 per in financial research. 2 years KPO experience will magnify the service worker wages as compared to 2 years BPO experience.

Even if you decide not to shift to financial research, CIIA will assist you in internal promotions.

[harshg]

@Kunal... I still do not know your profile (workex, qual, sal and current domain-HP backend non-voice is not very informative ) or your aspiration (interested in finance..where and what).

If I know more ... it would help.

Someone who does a MBA and does not have any significant workex (has not worked across job levels in the heirarchy AND/OR has worked for less than 3 years) will usually be hired at the entry level. Will be paid more after the MBA but will work at the entry level .after the qualification.

CFA is a prof qual, the analysts who have already worked on financial analysis write the CFA test to validate their credibility. The body of knowledge which one has to read to clear the test is exhaustive and will give a test taker enough and more but CFA is not a 'switcher' qual the way an MBA finance is.

If someone wants to move into a new (unrelated) career stream e.g. a software programmer who has worked on a software which was sold to a bank and wants to become a financial analyst OR someone who has worked in HP back office account/ledger management transaction process who wants to move to financial analysis-- should rather do a MBA Finance than a CFA to make this switch.

If someone does MBA (fin) and/or MBA+CFA and switches without domain experience...the job-role will ALWAYS be an entry level role and will be an Individual Contributor role (in BPO/KPO/ITES in India).

However, enough engineers (engineers=quant ability) with imagination, and a short term career stagnation pick up either CFA (either origin) or CIIA or CPA (either origin) or SAS or SPSS (data processing is a huge piece for financial analysis) certificates and move to what is loosely referred to as core finance domain. They are hired for quant ability not knowledge of finance (and the CFA or CIIA certis were not needed to begin with)


Lets move to your switch within HP-- the 'financial analyst' openings, I am sure there would be a JD somewhere and knowing HP the recruitment mandate will have a candidate profile as well... I would suggest you speak with the recruitment manager (this person could be from HR or Ops) for this position to know more. Your super manager does not work in the finance group and will have limited information available and because he is people manager would have a biscuit for you most of the time.

Also confirm (from this recruitment manager) if people in the existing workgroup in India has these certificates (CFA or CIIA)...more specifically your being enrolled for the CIIA (and not having completed it) hampers or strengthens your profile.

Lastly, try and understand (from the rec manager) what would make you a valid contender (apart from the certis).

H.

Originally Posted by kunalchowdhury

Thanks Harsh! This seems more informative n helpful and I think you understand what I have in my mind.

To continue- well, yesterday, I happened to meet some of my managers to discuss my future aspirations, and I seem to have an answer hidden there.

Our organisation actively supports internal movements, I was informed about some openings "Financial Analysts", where they just need something like- "strong knowledge in...", work experience in Finance is not mandatory, however, they need proven track record, to support their requirement of, "Analytical skills". Certifications like CFA/CIIA along with MBA are acceptable. Sounded great to me...!

I'm not sure, though with whatever information I have now, similar roles are not available to external candidates, so I'd have better chances there. Again, this profile has nothing to do with data processing, its into core finance domain (that's what I was told by those "super" managers).

Okay, lets leave my particular case now, I need ur suggestion coz I read several blogs where they say "...complete ur MBA and then go for CFA..." Are these for entry level placements? If it is, doesn't sound impressive... Did I miss something?

Cheers,
Kunal

[harshg]

Originally Posted by BaBu

Within KPOs, there are salary variations ,however the average for fresh qualified financial research guy is around 3 lakhs p.a.

which qualification? it might just be that the qualification in this case was the wrong and does fresh mean 0 workex?

Also kucch panga hai numbers main...even if the work is ad-hoc and beach is more than 50% on a hrly rate of more than US$25 I will have enough revenue annualy to afford entry level salaries of around 5 l.p.a (sustainable and scalable)

If I continue to pay low--I will have more attrition. Enough jobs in the market.

If I don't buy better talent -- I would not get enough work.

Finally- what work? KPO still does not have a standard definition other than the charge rates (Ashish Gupta has coined Siloisation last week)

Are you sure about the charge rate for the work that is paying INR3 l.p.a.?

[kunalchowdhury]

Originally Posted by harshg

@Kunal... I still do not know your profile (workex, qual, sal and current domain-HP backend non-voice is not very informative ) or your aspiration (interested in finance..where and what).......... Lastly, try and understand (from the rec manager) what would make you a valid contender (apart from the certis).

H.

Okay Harsh, let me tel u my complete situation.

I'm a BBA graduate, working for "Learning & Development" dept of HP. This is my first job and I'm gonna complete 2 yrs this July-end. My profile includes supporting HP Employees in their training and arranging everything required for that training with the resources provided. In short, though its not transaction-processing, it is not challenging enough.

My aspiration- Frankly speaking, during my graduation, I liked the financial management field n tried reseraching about the scope. It seemed good. I wasn't sure about what I exactly wanted, though other fields didn't interest me at all. Also, I didn't like the Career in accounting. Couldn't join MBA due to financial constraints, so joined HP. Later, I joined an MBA (Fin) an then CIIA assuming, I would switch...

I know, I didn't plan my career well. However, I don't wanna spoil my career now by taking more stupid decisions (from Career's point of view). I'm in a fix coz I'm know I can do much better than wat I'm currently doing (I know everyone feels that, but just wanna give it a try).

Currently, a Sr. Process Associate earning around 19k. By nxt yr, I'm sure, I'd be a Team Lead or Business Process Analyst (HP pays less but the growth is fast, that's y I'm not switching companies). I'm going fast enough compared to my peers, but now I'm wondering if it is possible to boost up my career with the MBA & CIIA; both, I would possibly have by next yr. I don't want these to go in vain. Also, want something more challenging and where I may earn better.

If nothing else is attractive enough, I would try moving into a financial role with MBA+CIIA, as I said earlier, even if that doesn't works, I'd have to settle with what I'm currently into.

I sound confusing but, what else can I say!!!



Thanks for any suggestion!

Regards,
Kunal

[harshg]

Five suggestions:

1) try and find out what you want to do in 'a finance role'. chances are what you want to do ---accepts applicants without certificates

2) explore designing the training content within HP L&D...does HP use a KT? Who inputs the training needs? I think it would be people managers- do the people managers chose from a ready made list of trainings? Is the list of trainings sufficient to meet the actual need? Can there be any custom training done

3) don't quit HP till you become a senior team manager..should take you another three years if you are really good. collect your MBA and CIIA while you are in HP.

4) Google about the training content development jobs that NIIT has-- speak with someone if you can.

5) Do item 2 before item 4 .Chances are once you are done with items 2 and 4 you will have a career plan and no desire to work in finance.

H.

Originally Posted by kunalchowdhury

Okay Harsh, let me tel u my complete situation.

I'm a BBA graduate, working for "Learning & Development" dept of HP. This is my first job and I'm gonna complete 2 yrs this July-end. My profile includes supporting HP Employees in their training and arranging everything required for that training with the resources provided. In short, though its not transaction-processing, it is not challenging enough.

My aspiration- Frankly speaking, during my graduation, I liked the financial management field n tried reseraching about the scope. It seemed good. I wasn't sure about what I exactly wanted, though other fields didn't interest me at all. Also, I didn't like the Career in accounting. Couldn't join MBA due to financial constraints, so joined HP. Later, I joined an MBA (Fin) an then CIIA assuming, I would switch...

I know, I didn't plan my career well. However, I don't wanna spoil my career now by taking more stupid decisions (from Career's point of view). I'm in a fix coz I'm know I can do much better than wat I'm currently doing (I know everyone feels that, but just wanna give it a try).

Currently, a Sr. Process Associate earning around 19k. By nxt yr, I'm sure, I'd be a Team Lead or Business Process Analyst (HP pays less but the growth is fast, that's y I'm not switching companies). I'm going fast enough compared to my peers, but now I'm wondering if it is possible to boost up my career with the MBA & CIIA; both, I would possibly have by next yr. I don't want these to go in vain. Also, want something more challenging and where I may earn better.

If nothing else is attractive enough, I would try moving into a financial role with MBA+CIIA, as I said earlier, even if that doesn't works, I'd have to settle with what I'm currently into.

I sound confusing but, what else can I say!!!



Thanks for any suggestion!

Regards,
Kunal

[BaBu]

@Babu-- if the OPI entry level is 2.82+ .how much is the take home?

Harsh,i am not sure about take home. 2.82 (non negotiable) is ctc package fixed for freshers who want to join OPI as analyst- Valuations.

which qualification? it might just be that the qualification in this case was the wrong and does fresh mean 0 workex?

Also kucch panga hai numbers main...even if the work is ad-hoc and beach is more than 50% on a hrly rate of more than US$25 I will have enough revenue annualy to afford entry level salaries of around 5 l.p.a (sustainable and scalable)

If I continue to pay low--I will have more attrition. Enough jobs in the market.

If I don't buy better talent -- I would not get enough work.

Finally- what work? KPO still does not have a standard definition other than the charge rates (Ashish Gupta has coined Siloisation last week)

Are you sure about the charge rate for the work that is paying INR3 l.p.a.?

KPO service providers keep 30% of income as their margin.

Recently EXL COO and president Rohit Kapoor told wall street analysts KPO analytics still offers 30% + margin as compared to IT and plain vanilla BPO services.

You are right. Even after taking into account fully loaded costs + 30% KPO margin, they can pay salaries to tune of 5 lpa.

But the industry benchmark for freshers is at 3-3.5 lakhs p.a. May be it is related to productivity issue- The first 6 months analyst needs to be trained in bloomberg/financial database, workflow techniques or spreadsheets.

[BaBu]

Amit Saxena has launched www.bpovoice.com- Exclusive BPO social networking website.

BPO professionals get their own social networking space-India-The Times of India


'While the number of hits and request for membership is increasing by the day, the site is careful to sieve through every request. "We are quite selective about membership. We go through each request and weed out irrelevant members and try our best to remain consistent in our quality in content and membership. There have been occasions when we have asked people to leave simply because their profile did not match our group," says Saxena.'


I have been invited to be part of bpovoice and i think it is a dedicated effort from Amit to connect BPO population together and ensure they flock together.