AuthorTopic: can a newbe get some help
@2009-03-04 17:28:42
I am thinking of studying for the cfa but it seems like everybody here has a degree in business adm./finance or something else besides their cfa degree, was wondering if I could get my cfa would it be difficult to get a job or what kind of a salary am I looking at with only a cfa degree, I live in san diego, CA. and also how long would it take for me to get my cfa I gave better than average IQ and lots of time to study? any help appreciated. thanks
@2009-03-06 11:47:00
1) after 5 years out of college, nobody gives a crap what you majored in. The CFA is 10x more impressive to employers than an undergrad finance degree. I find it funny that employers who wouldn't talk to me undergrad for entry level BOM work (I was econ) now post upper-level positions I'll be qualified for 5 months from now when I've passed L3.

2) depending on what you majored in, it might actually help you (many finance people can't write worth a damn, so if you're lib arts, that's a differentiator. Also, if you're a science major or something like that, you'd make a far better health care analyst than some jabroni who majored in finance undergrad)

3) the IQ/time thing is a sliding scale. Within reason, anyone of reasonable intelligence can pass all 3 levels, although it will take some people more hours of study than others. If you're very smart & have a background, you'll spend less time. But it's still doable even if you're not too analytical or if you don't know jack about finance currently.

4) most important for you, given the climate & quality of women where you live... do you really want to spend 200+ hours a year inside studying for this? :)
@2009-03-06 19:09:58
thanks for your response. I really like studying finance but just couldnt stand college and universities where you have to study stuff you don't need for 2yrs before you get to courses you are really looking for! and also the woman out here are the other reason why I never finished college, lol, but are u saying I still have to get a degree or a level III cfa is good enough, and do you by any chance know what kind of a salary am I looking at(ballpark estimate) thanks in advance
@2009-03-07 14:09:07
no problem at all.

Ok, so maybe I misunderstood you.... I thought you were implying your degree was in something other than accounting/finance. I really am not an expert on whether no college degree is a problem if you have the CFA. My inclination is to say you'd be well-served to have it from somewhere, anywhere. Part of the issue is that investment management is a credibility game (part of why employers want you to have the CFA is to show off to clients, competitors, etc)... and I think some/many firms might have hesitation with the no degree thing. I don't know though for sure. My comments were more to say that even a criminal justice major from a podunk school who has the charter could get a job at most companies ahead of someone w/ just an undergrad finance degree from an average or above average school.

Salary... varies greatly. CFAI's published statistics indicate a median salary of around 120k, with another 30k or so in bonuses. That includes people in big & small markets who do all kinds of work though. I'd say you can fairly easily expect to be close to 6 figures when all's said & done though.
@2010-05-13 06:51:56
you need a degree to take the CFA exams (there's one exemption: if you enough industry experience, CFAI may waive the degree requirement)

CFA Discussion Topic: can a newbe get some help

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I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz

Tamara Schultz