Author Post
Topic potential risks of doing your CFA
prague
@2013-06-06 22:29:49
Hello guys!

Do u really think passing cfa exams could get you the investment analyst job that u are looking for even if u are not in the investment related jobs ?

I think majority of the people think that passing cfa exams could help them getting jobs relating to investment related jobs, but the fact is that the investment jobs demand skills much more than what is required to pass cfa prog. Skills like report writing, number crunching, ability to absorb tons of data are not strictly associated with cfa prgrm perse. May be an MBA could do a better job than a cfa candidate (refering to people who are not in invst mgt related jobs).

I know that people who don't have access to good MBA ranking universities would opt for this cfa prg because it is relatively cheaper. Honestly, even if u pass all the levels with ease (which is not the case & and there is every danger that u drag on for years), the employers may say that u lack relevant job experience. Where do u get experience from unless ur already in that job. cfa candidates may have a danger of falling prey to this vicious circle of employer's influence.

The wise decision would be to join cfa prgrm only when ur job is closely associated with investment related activities. But who would give u a job unless u have the required qualification and required skills sets to handle it ? Think abt it guys !!!!

May be that work experience requirement is very tricky in its own sense. Candidates have to realize this before they could take up this prgrm
skyline
@2013-06-12 13:16:12
I work at a major consumer bank. I have seen a few people move from other depts. into the IB dept. after passing the 1st or 2nd CFA levels... I only hope I can too.
smokee
@2013-06-16 06:50:17
yes, it is tough to jump into the investment management side; however, it can be done. I was a lowly BOM / IT schmuck when I started the program and now I'm doing everything from OAS modeling to derivatives trading as a Quant Analyst. One of the main reasons that I got the QA position was because I had passed CFA-1 at the time. I've since obtained the designation and new responsibilities have arrived more rapidly due to each progressive level of CFA knowledge. Don't let jobhunter scare you away, it certainly is challenging and you may get a lot of doors closed in your face; however, if you have a knack for investments and the will to succeed (even if it means doing mindless data compilation as a BOM) then you can be an Horatio Alger and make it on The Street. No bullsh*t.
heinosuke
@2013-06-22 17:11:36
The experience issue exists in most industries, especially in entry level jobs.... is a sort of catch 22.
wilsonpoon
@2013-07-30 09:25:46
Heinosuke is right about the experience issue. Is like asking whether the egg or the chick came first. However, if you are persistent, something will crack open, sooner or later.

I still appreciate Prague's advice to check the blindspots and things that we might have overlooked, thanks.
aspirant121
@2020-01-08 05:46:07
Hi

I need some advice regarding the career in CFA, iam an MBA in finance, Post Graduate Diploma in Business Management and Financial Management as well, having 6 years of working experience as an Accountant/Financial Accountant.I dont have much knowledge and experience in portfolio investment.Is it beneficial for me to do CFA for a good future??

please do reply with your valuable comments/advice.

Thanks,