|Topic||CFA with IT|
I intend to take CFA certification. However, what would be best possible way to use it in my scenario! Here is a brief on my scenario:
- 10 years in IT, PMP certified manager.
- Location - New York City.
- Work for financial association.
Wish to work in IT based CFA job. Are there any? Or what could be the best possible combination for using IT management with CFA certification in terms of money? Please share.
I'm in the same situation but I'm just a junior in IT.
I hope that the CFA level 1 gives me a ticket to the financial world.
Waiting for your answers
Thanks in advance
|Same boat friend.. But I am highly motivated to enter this world no matter what it takes. Lets keep discussing and give our best shot in December 2013.|
This is my two cents: -
The CFA financially may not increase your earnings potential a great deal. If you're in IT, you're in IT and the banks will tend to pay you the market rates. Now, if you're developing programmes/software/hardware which directly impact their bottom line in a positive way, then you'll probably be able to command a higher salary/bonus. However, the fact that you are or are not a CFA charterholder may not impact how much a bank will pay you.
Will being a CFA Charterholder get your foot in the door? Absolutely.
I'd urge new entrants to the banking/investment industry to be realistic about your salaries. Simply being a charterholder does not propel you automatically into the realms of super-wealth.
After the financial crisis, take note that the banks are currently operating their businesses in a very lean and mean fashion - you'll get paid a lot only when you make the bank a lot!
I have around 10 years IT experience in financial services.I want to enter the higher end financial consulting field. CFA is a great option for people like us. Even just passing level-1 can give us an opportunity to put our foot in the door.
I have been reviewing the syllabus for a month now . For a person that does not have a financial background, I can say that the prep time will be double than the other people. Here is my analysis. The CFA level-1 consists of two exams each of 120 questions. The syllabus and the breakup of questions for each exam are same.
Following topics comprise around 37% of the course and many of us who have Engineering background should not find it tough.
1.Ethis - 15 % : This is purely theory and should not be a big deal for folks who have had experience of dealing with theory in past.
2.Quantitative methods - 12 % : This is somewhat similar to the stats and probability courses one has taken in Engineering. But one needs some practice.
3.Economics - 10 % : If you have any background of Engineering economics then this should not be that tough. But still one would need a few extra hours to bush up the concepts.
The rest 63% deals with Financial statements and corp finance (28%) , Equity investments (10%), Fixed income analysis (12%), Derivatives (5%), Alternative investments (3%) and portfolio management (5%).
All the above topics require a great foundation of basic financial knowledge.
Even before planning for this exam, one should spend a few months understanding the concepts dealing with above mentioned subjects.
Believe me, for a financial newbie like us understanding the difference between Income statement , Balance sheet and Cash flow statement takes at least a couple of weeks and this is just the foundation for the financial statement analysis.
so stay tuned.