[BaBu]

Hello,

There is no dedicated thread for CFA guys from ICFAI, hyderabad.So i thought it will be a great idea to open a specific thread focussed on CFA-ICFAI. We can discuss about exams, motivate each other, discuss about placements , about training classes and even form study groups in different cities. According to ICFAI prospectus there are over 20000 guys studying for CFA ICFAI and this thread will be useful to all of us.

I am Akhil, 23 years old living in delhi. 2 years call centre experience. But not in mood to again pick up a headset. Studying for ICFAI CFA level 1 group alpha. Exams coming up next month . Plans to complete CFA ICFAI by april 2008.

One great thing is that after completing Level 2, You get waivers for CIIA (Certified International Investment Analyst), Switzerland for national exam. You can directly appear for CIIA international examination and this is a great Global degree in investment banking field.

Lets join hands to help each other in clearing CFA ICFAI exams.:smile:

[Tumtum]

Dear friends,
I am really happy that people here are balanced and do not take degrees at their face value. Just for those who are doubting this degree and its recognition, I have a story to tell.

The year was 2001. I had just finished my graduation with a second class. When I started out scouting for degrees to add to my resume, I was wondering what should I do. I also asked myself the same questions that many ask themselves. To do an MBA or a CA or CFA (Indian or American) or whatever.

When I decided upon the CFA from ICFAI, the whole world told me its a wrong choice, its not recognised and blah blah. The following 3 years were the toughest in my life. I was doing CFA all on my own, without any inputs, developing my own rules and shortcuts and following newspapers, financial magazines and websites on a daily basis when the whole world was trying to put a sense of doubt in me.......that my decision of going for ICFAI CFA was WRONG. I created a group… we wud study together and help each other out…grasp from each other’s doubts and gain from each other’s knowledge. However, many mocked that I wont ever get a job and that employers will just tear off my papers n not allow me to sit for an interview. All barked endlessly, while I believed in myself and kept on pursuing M.Com in Economics and CFA alongside. 3 years later, despite all the brouhaha....I finished both of these courses with a first class.

Then came the penultimate test of the belief that I had in this degree and in myself since the past 3 years of my life.....that of the MARKET ACCEPTANCE of this degree. I just left my hometown and came to Mumbai. No work ex and a supposedly "inferior" version of CFA on my resume. Without any leads, I started going to different companies wearing formal clothes (tie n all) and having my degree certificates, submitting my resume' to all n sundry. To my surprise, I found that CFA from ICFAI is a VERY VERY RESPECTED DEGREE and a LOT IN DEMAND. I immediately got a job at a very god KPO initially. I performed very well and was given 2 increments within 1.5 years. However, I was beginning to feel
like a back office monkey when suddenly a golden opportunity from one of the world's top 10 investment banks came to my hands but the million dollar question was......will an MNC accept the ICFAI CFA......???

For the first time, I was in a bit of self-doubt. But nevertheless, I decided to give an interview. It went on well and they were damn happy with my technical knowledge in finance. Then came the 2nd , the 3rd and the 4th round.......all damn technical stuff but I survived all with ease. Today....I am a Senior Analyst with that investment bank. This is the fun.....now all those who had left no stone unturned to criticise me cant even face me......and I still keep quiet and look them in the eye.....thanks to CFA.

What did you learn from this story friends? Simple.....

NO1) the employers are not concerned with what your degree is (initially they may be, but after some work-ex..they dont care a damn) or what your percentage is.
NO2) they are on the lookout for a personality that fits in their organizational culture....who has that fire in himself, who has the will to go that extra mile and keep learning.
NO3) no one is gonna welcome you with open arms because you are a US CFA holder...forget it....If you screw-up ur work...youre a dead duck.
NO4) no one is gonna throw you out of the office because you are an ICFAI CFA....thats so simple...you can see from my experience.

Just put yourself into an employers shoes, what would you personally do ? Would you go after someone's degrees or after someone experience and on job skills ? Think and then put forward a point. I have seen some guys spare no effort in criticising the ICFAI but they have nothing to fall back on except rumours that US CFA is the best. I no doubt agree that US CFA is a very good and a powerful degree....full marks to it....that course is goin on from the last 40 years, so US CFA IS A GOOD COURSE. But if US CFA is good, then in no way does it mean that ICFAI CFA is shit. In fact its a far wider course and very in-depth too. It gives you a solid grounding in finance just like its American counterpart. However, the beauty of this course lies in the fact that it is WIDER than US CFA. Just think......you give 3 exams (1 exam = 2 papers) for 3 levels of US CFA, whereas you give 32 papers for earning the ICFAI CFA. Then can such a degree be shit as these folks say ? Jus think for yourself.......ask yourself and put yourself in the employers shoes and then decide......you will never be wrong....after all, you have a live example in front of you.

In this long message, in case I have hurt anybody's feelings or beliefs, then I am sorry. I just said what was worthy of being told to clear misconceptions that many seem to have. If I have hurt anybody's feelings, then I ask for being forgiven.

Warm regards,

TUMTUM.

[BUGS BUNNY]

@tumtum
Dude I feel like givin u a standing ovation
kudos to ur dedication and self belief
Really its people like u who constantly reiterate the fact that ur destiny is well and truly in ur hands.

-
Bugs

[uRmad]

Tumtum....
I've heard enough horror stories of people not scraping thro' the ICFAI CFA...How the pass percentages are absymally low...and how there's a conspiracy(?) theory too that explains the low pass percentages.....

All the very best

Cheers

[BaBu]

Great Update TumTum .I know you must be loving your high paying investment banking job with global giant.You deserve it because apart from clearing your CFA ICFAI and CIIA, you have self belief, determination, energy to make things happen rather then waiting for them to happen. Great Dude. Keep it up and be always there to show us correct path.

Guys, hows your preparation going for different groups exams in April? Make it sure you have downloaded and printed your admit card.

[BaBu]

*****
See ICFAI CFA exam schedule for April 2006

[BaBu]

Best of all luck for April 2006

[Crash_test_dummy]

Originally Posted by uRmad

Tumtum....
I've heard enough horror stories of people not scraping thro' the ICFAI CFA...How the pass percentages are absymally low...and how there's a conspiracy(?) theory too that explains the low pass percentages.....

Hey Mad, could you elaborate a little on that one? Sounds interesting!

TumTum, if you`re convinced inside, you dont need to convince others. Due credit to your hard work etc., but the one thing i completely disagree with you is that ICFAI's CFA is wider in scope than that of AIMR. Having 32 exams doesn`t necessarily mean that it`s wider. You could split up ICFAI's 32 exams into 3200 baby exams, would that make it any tougher? Lets face it, ICFAI and AIMR are two different roads leading up to the same destination...one is shorter than the other, and is therefore more risky. The other might be longer and harder, but it takes you there for sure. Done?!

[uRmad]

Originally Posted by Crash_test_dummy

Hey Mad, could you elaborate a little on that one? Sounds interesting!

I'd rather I not be quoted on this First up, i've never even looked at CFA or any other stuff....My experiences with that are mostly thro' my friends when i was @ icfai b-school in hyd..I've heard of pass percentages of 2-3% being dandied about Quite a few of my fin-o-holic friends had signed up initially for the course and had starry dreams that they would end up with a major in fin and a CFA and whatever other courses they had already done (quite a few fin guys at icfai were CAs or were in final stages of completing it)....Don't ask me how all of those varied courses fit in their thought process But I've seen most drop out after the alpha (? iirc, thats the first stage)...And by the time we passed out, it was just a fraction of the original that actually got thro' to their CFA.....The conspiracy theory I was referring to was about how the folks at icfai wanted ppl to talk/conspire/discuss about CFA by making sure very few ppl make the cut.....The shock & awe factor, if you will.....But like I said, almost all of this is hearsay...So take it with a pinch or bucket, if you will

You could split up ICFAI's 32 exams into 3200 baby exams, would that make it any tougher?

Hehe...Reminded me of the typical line that goes when one starts to write about Berkshire Hathaway's huge stock price and how most ppl dont realize that a stock split wouldn't make it any less *worth*

Cheers

ps:All said and done, I am given to understand that in an Indian context, this CFA holds up pretty good value...Ofcourse, its just my opinion

[Routhmanz]

kindly go through what others have to say about reputation if ICFAI.
i found it on wikipdeia-
and yes please go through the link- icfai students rue the day.there are hundreds of websites having similar view of ICFAI.
ICFAI

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ICFAI is a group of universities in India who claim to have permission to run courses all over the Country. Their problem is that as per the laws of the Country they are only allowed to give degrees in the states they are incorporated in. Sad for all the students who are being duped.It is omnipresent across India.
Read more on icfai students rue the day