Quarter Life Crisis

WSJ article — subscription may be req’d

Vikash Kumar, a business student in India, took a trip to Nepal last week with four friends. To get there and back, they traveled for hours by airplane, taxi and rickshaw. They passed through border areas menaced by bandits.

They aren’t adventure-seekers, or even tourists. Mr. Kumar and his friends are simply trying to take the Chartered Financial Analyst exam.

Passing the CFA — a series of three grueling, six-hour tests covering economics, accounting and markets — opens the door to high-paying financial jobs. India’s booming economy is triggering a concurrent boom in CFAs: This year, India had been expected to produce more than 10,000 candidates, according to the U.S.-based CFA Institute, more than anywhere except North America. Just seven years ago, India produced less than 250.

Credit crisis will trigger Wall Street’s Big Bang.

London’s financial center is the envy of the world, stealing a beat on Wall Street in everything from debt trading to initial public offerings. Its current standing as the largest international marketplace is undisputed.

When you’re in the so-called Square Mile, you know you’re in the middle of a melting pot of British, American, Dutch, German, Swiss, Chinese, Saudi Arabian, Russian, Brazilian, and South African financial expertise and culture, among others. By contrast, walk into any investment bank in New York City and everybody is wearing a Mets or a Yankees hat.