- CFA Exams
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- Topic: Need Advice: Corporate Finance and CFA
|Author||Topic: Need Advice: Corporate Finance and CFA|
I currently working for a company as a Financial Analyst (budgeting and forecasting and some analysis). I have a MBA with an emphasis on Finance, but from a lesser known university (not from the MBA big schools). I would like to continue working as a Financial Analyst in Corporate Finance.
I do not know much about CFA or its prospects in Corporate Finance. DO you think a CFA would help me? Please please advice. Thanks!
|Don't think so.
I am in the same boat as you. Engineering background, MBA Finance and 2.5 years in Corp Finance. The way I see it, the only reason I am getting my CFA is to break into the investments industry. It has almost NO practical value/career benefits in Corp Finance. If you plan to stay in your field, dont waste your time.
I just passed Level I in june and plan on taking level II in this coming June. It is a LOT of work and you have to give up 4 months per exam!! Also, your company will not pay for the CFA and the whole thing will cost you almost $3000 by the end of the 3 levels.
I am in the same boat as well. However, the CFA can help you break onto the CFO's team at your company (aka, you can start making the big bucks.) The CFO at your company has to be proficient in derivatives, hedging, risk and return profiles, corporate finance (of course), and quantitative analysis. So really, there are only about 3 sessions out of 18 that will be pretty useless for you, and those are the Fixed Income and Equity sessions. And with another certification, most companies will give you a raise. If they don't, leave for a company that will.
And really, anyone is impressed by the three letters CFA after your name. The letters are "Certified Financial Analyst" and not "Certified Investment Financial Analyst" for a reason. And $3000 is WAY less than an MBA or other schooling degree will cost you. I don't plan on going back to investment management (though I did it for a couple years). But I am sticking with the CFA instead of shelling out big money for an MBA, and my company is perfectly happy with this! I am guaranteed a promotion in corporate finance if I pass Level 2. I already passed level 1.
Good luck with your decision!