Need some Opinions on CFA. Jobs & Careers

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Hi,

i am considering the idea of pursuing a CFA course, and i`m looking for some inputs and opinions from ppl who are already CFAs or are currently pursuing CFA or have some knowledge of CFA. i want to pursue MBA in finance in fall (august) 2007 from US..and i wish to do some finance course in the meantime to get a hang of finance.

i`m an engineer and i have no workex or education in finance. so basically i`m looking for the following things from any course that i do:

1. Since i dont have a degree in finance or wokex in finance, i might face difficulty finding jobs in US after MBA. So i`m looking for a course should help me get good internships and jobs in the US during summers or after mba.

2. The course should have some international respect and recognition. while courses from IGDIR, ICFAI, NMIMS are quite good, they are unknown in US. i need an international course which companies in the US will recognize.

3. Lot of my classmates (from engineering) who`ve done MBA finance complain that finance is a completely different field and they find it hard to cope up with so many new concepts. So i`m looking for a course that would give me enough knowledge in advnace to cope up with the complex financial concepts during MBA.

4. In a US mba, most classmates generally have several years of related work ex. so the course should also make me strong enough to be compete with them academically and bring me at par with them in terms of financial knowledge.

after a little research, i have found that the course that best fits the above four requirements is CFA. What do u guys think? Does anyone have any opinions or suggestions in this regard? should i go ahead with CFA? or should i look for something else? is there any better option than CFA in my situation? is CFA managable for someone with a degree i engineering and work ex in IT? i have good knowledge of stock markets and have studied some NCFM modules. i understand derivatives and bonds, and a little bit of mutual funds and investment products. in this situation..can i manage a CFA or will it all be bouncers over my head?

i have heard that CFA is a pretty tough course and requires a lot of effort in terms of studies and preparation. i dont mind putting in any amount of effort or number of hours of study. i just wanna know how feasible it is for a person like me. thanks for any help!

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Tyranitar

06 May

Does clearing CFA and FRM level 1 before summer placements gives advantage over someone who has cleared only CFA or only FRM because they cater to different domains in Finance .

Tyranitar

03 May

Guys it shows error "Wrong field values or value types detected in field Address Line 1. Please re-enter your field values" when i try to enter my home address, whats wrong ? I entered it as 105,banjara prashant , banjara hills rd no 12

debashis1989

28 Apr

1 6 Comments

vampgm And I plan on getting the Schweser pack for less than 300.... 2d.

piyushgrwl @vampgm Whwn you have planned for writing CFA? Start kr d.... 2d.

debashis1989

01:47 AM, 28 Apr '13

28 Apr

@sophiejain : Hi. I am joining ximb 2013-15 for mba. As i am interested in finance major,i want to do cfa to supplement my profile. Please suggest, if it would be possible to clear L1 in december 2013 if i start preparing now. It would be tough to extract time from the mba rigours. Moreover,i have thought of registering for the ebook options and will be buying the copies of schweser notes form some xerox stores. Do i need anything extra for preparation?? will be be helpful for me to pursue??

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piyushgrwl @debashis1989 bro.. am also like to do CFA in dec.. As of know, joining MDI.. can you also guide me..?
#1 • 2d ago Like 1
vampgm @debashis1989 You get Schweser Notes Xerox copies? Would love to get my hand on it..I cant read on a comp..:( I was planning on purchasing the notes online..any idea @piyushgrwl will we get copies near MDI?
#2 • 2d ago Like
debashis1989 @piyushgrwl @vampgm : i got the CFA level 1 material couriered frm lakshmi xerox in mumbai. That includes schweser notes, summary n videos. Total cost is rs 2500. Some people i consulted, instructed i better study these notes as the CFA institute ebooks is very extensive. Lets c if i can extract time from the academics for prep.you people can get the detail address of lakshmi xerox online.ALL D BEST
#3 • 2d ago Like
piyushgrwl I got the notes from one of my friends. soft copy. but the only loss is there is no video.
P.s: Torrent pe sab milta hai..
#4 • 2d ago Like
vampgm And I plan on getting the Schweser pack for less than 3000 online. Would have been great if schweser was available in india.
#5 • 2d ago Like
piyushgrwl @vampgm Whwn you have planned for writing CFA? Start kr di kya padhai? koi background in finance?
#6 • 2d ago Like

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nckvit

26 Apr

Need help na advice from u people,im joining as PO in one of d nationalized bank, n in future want to do mba in finance from tier1 colleges in india.1) wl cfa add value to profile?2)is der any relation betwn bank finance n cfa knoweldge?3)wl combine knowledge of bank n cfa help me to switch job b...

5 Comments

nckvit @invban thanks a lot Sir for ur valuable detailed advice.. 27 Apr.

Iamsun why spam?. 27 Apr.

nckvit

08:42 PM, 26 Apr '13

26 Apr

Need help na advice from u people,

im joining as PO in one of d nationalized bank, n in future want to do mba in finance from tier1 colleges in india.

1) wl cfa add value to profile?

2)is der any relation betwn bank finance n cfa knoweldge?

3)wl combine knowledge of bank n cfa help me to switch job b4 mba?

4)any other suggestions

thanks.

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invban CFA is a very valuable credential , if i were you I will do the following
#1 • 26 Apr Like
invban a) get some work ex in the bank (1-2 YEARS) before you take up CFA or an MBA . Once you have exposure of some finance domain (in which u will work in the bank) , you will get to relate with CFA a touch more than when you are a mere fresher
b) Bank POs generally ( I am making an educated guess here ) do core banking operations like , Account management , BASIC accounting , Customer Service etc , it all will depend on where the bank places you
c) The interesting thing here is that a bare PO will have a limited understanding of how things work in general in the Finance field , if u do yr CFA seriously , it would be like you will have a really good understanding of various facets of Fin like Corporate Fin , Project evaluations , Equity research etc , now an average joe who joins a PO job just for making a living and not genuine interest in fin wont be able to take value out of CFA , so the bottom line here is you have to have a genuine interest in the subject of FINANCE , otherwise yr question itself loses significance ( I hope you got my point)
d) Again and gain I have iterated in many posts kindly get out of job / career syndrome while taking up any value added credential - of course job is one part of the grand puzzle , however do not make it a be all and end all of what you do .....(remember 3 idiots philosophy of being kabil ....?) you do well and for what you know you may be in gr8 demand ..........
e) If you do well in PO job and have CFA as well , work for 5-6 years in the bank , learn the tricks of the trade and then go for a 1 year Exec MBA , then you can really command a great value
#2 • 26 Apr Like 2
Iamsun IT(BFSI) 2.5 years work ex. CFA(L2) + MBA(outside top 30 B schools) should be good enough or opportunities open up only in top B schools ?
#3 • 26 Apr Like
nckvit @invban thanks a lot Sir for ur valuable detailed advice.
#4 • 27 Apr Like
Iamsun why spam?
#5 • 27 Apr Like

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harrypotter24

06 Apr

can anybody tell me if i can postpone Level 2 to 2014?

invban

30 Mar

@ambitiousviolet from my individual experience I can tell you that if whatever you do , you do it well and are focussed on the process rather than the end result , you won't ever have to worry about anything else . I would say that "money" and "job" do have a significant role in one's life , no d...

2 1

harrypotter24 can anybody tell me if i can postpone Level 2?. 06 Apr.

anmol29

29 Mar

@invban Quite a guiding light !! Thanks !

invban

29 Mar

@ambitiousviolet , some replies on what i know of CFA
1. should i go for CFA? -its for u to decide and u should take a informed decision keeping in mind the "opportunity costs" ( Huge outgo of money , quite a bit of hard work required etc) -i am not too good in quants ...for CFA am i require...

3 2

invban

09:07 PM, 29 Mar '13

29 Mar

@ambitiousviolet , some replies on what i know of CFA

1. should i go for CFA? -

its for u to decide and u should take a informed decision keeping in mind the "opportunity costs" ( Huge outgo of money , quite a bit of hard work required etc)

-i am not too good in quants ...for CFA am i required to be too good in maths? -

Definitely u need good mathematics skills , however as far as i know , u will be using calculator throughout the course , u have to have basic level of quants however u should have a knack of absorbing huge number sets and analyse them , if u see a balance sheet , u should be able to make sense out of it in 5 minutes flat , otherwise u r in big trouble

- how much value it has and can it alone help me to get a decent job ?also can i get a job- decent one with CFA l1 or 2? if yes till how much one can get ?2.How much help does CFA does to an Indian MBA grad from an avg to decent b school(nmims etc) not ivy league like iims etc?
- my take on this , if u are able to do a CFA successfully definitely u will have an advantage , how far it will translate into getting a "decent paying" job depends solely on your other skill sets , previous job experience etc , my advice do not link CFA to a job , take it as a "value added" degree , give it yr best shot , again when u do an CFA with an MBA or after it , it depends solely on yrself to market yrself in the job scenario

3.i don't want to get into investment banking(because of long working hours) and most of all my friends have told me that CFA is useful only if you want to get into ib is it so like?or helpful for other decent profiles also ? also how much value equity research or financial analyst has and do they work crazy just like ib ppl? can i become one through just CFA alone? need i do MBA also?and if both then what shud be the ideal path cfa then mba or mba then cfa ?

- well , wherever u work , whenever u work , you can not escape long hours . Period !! Now the choice lies with u whether u want to go in ER or Fin Analyst position , once u clear several levels of CFA , u will come to know where u want to head for . Now that u have indicated u do not like working long hours i would suggest u first do an MBA then a CFA ......MBA as a degree is so so according to me and will help u skim just a little bit in various subjects including Fin , whereas a CFA will build a solid foundation

4.if at all i don't pass cfa-1 , then will i have to pay the whole amount again?
- pls refer CFA website for this ......you are requested to at least go through CFA website and know what u will be handling

The eternal seeker.....

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DEVILISHANGEL

21 Mar

yes but with an good mba, it will be easier.
without the mba, you will probably have to work a lot of angles to get in.

pearl16

21 Mar

hello everyone,
i'm a fresher with a finance background. i did my bcom in financial markets. i have also done CFP (certified financial plannier) course. however, i have recently got a job in one of the top financial firms of india in the financial planning dept. however in the long run i want ...

thaparian well first of all you have to zero in on the profile coz .... 14 Apr.

thaparian Equity research is possible with the help of CFA but agai.... 14 Apr.

ambitiousviolet

20 Mar

i am a BMS grad(2012) ...i am looking forward to pursue cfa(US) but not much aware of it as of now...i have few queries if u can help me out...
i don't want to get into investment banking(because of long working hours) and most of all my friends have told me that CFA is useful only if you wan...

10 Comments

SilverShadow And is it possible to Clear L-2 CFA without any job exper.... 09 May.

nids1 Yes you can clear CFA L-2 without any job experience as y.... 5d.

ambitiousviolet

04:30 PM, 20 Mar '13

20 Mar

i am a BMS grad(2012) ...i am looking forward to pursue cfa(US) but not much aware of it as of now...i have few queries if u can help me out...

i don't want to get into investment banking(because of long working hours) and most of all my friends have told me that CFA is useful only if you want to get into IB is it so like?or helpful for other decent profiles also ?
how much value equity research or financial analyst has and do they work crazy just like ib ppl? can i become one through just CFA alone? need i do MBA also?and if both then what shud be the ideal path cfa then mba or mba then cfa ?
what about the job opportunities and pay package for just cfa l-2 candidate without MBA for ER/FA ?

hope someone to reply soon

thanks

you can achieve anything if you give your cent % to it

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ProfitShastra-CFA 1) You need basic math skills. Nothing more than that. 2) It's almost a necessity for second tier MBA student. 3) CFA alone is enough. Pay package might be little lower but at the same time you don't spend hefty money on second-tier MBA. You can get at par or higher salaries of second-tier MBA with only CFA Level 1 or Level 2. Equity analyst jobs are little bit more relaxing. Try first CFA and than do MBA. This way you spend less money and time. 4) No.
#1 • 25 Apr Like 1
ambitiousviolet @ProfitShastra-CFA thanks for the reply..
however are you sure of 3rd point you mentioned since many people have told me that cfa alone won't get you a decent job ?
also by "at par or higher salaries" with only cfa 2 can i expect to get 30kpm min ? i am interested to get into er/equity analyst....
pls do reply...
#2 • 26 Apr Like
thaparian this is not at all true that without mba, package would be enough.....believe me it makes a lot of difference
#3 • 26 Apr Like
thaparian Cfa level 2 is the least u shud try to achieve in first attempt....i would say clear level 1 and then go for mba.....then attempt level 2 and 3 while being in clg
#4 • 26 Apr Like
ProfitShastra-CFA Many people say many things. Some are correct and some are plain wrong. Some apply to you, some don't. Many people clear the exam but have no practical knowledge. They can "solve" a problem but not able to explain why they solved it in the first place. Many people can value a company using the formula but not know whether or how to buy the company. Most people are studying to "pass" the exam. They can't read financial newspaper, do not know what's going on in the financial market, have never seen or read an annual report and can't speak market language. Why would an industry practitioner hire someone like that if they have to be taught everything from the very beginning. Therefore many people don't get good jobs with good pay packages. I hope my many arguments will underscore the relevance of knowledge and it's application over degree, be it CFA, CA or MBA.
#5 • 26 Apr Like 1
ambitiousviolet @thaparian hmm ok so what is your suggestion? is MBA a necessity ? just cfa (level 2) would not be enough(for ER)...(by enough i would say 30-40,000pm inr considering the investment is also good enough ).
bdw may i know if you have done with your cfa or not ? since experience makes a difference, right? one would me more aware of the opportunity, market value etc ...
thanks for the reply
#6 • 26 Apr Like
ambitiousviolet @ProfitShastra-CFA hmm alright so what will you suggest ? see you are one of few people to tell me that with cfa alone its enough so i asked you whether you are sure of the thing...i was surprised & felt good ...as i thought if with cfa it is enough then i would save my money(almost around 8/10lacs) and 2 rather 3 precious years,that for mba..
look all you mentioned was good enough to read..i know some points you mentioned is valid i agree but still there has to be some sure shot thing and on a practical note it does makes a difference in terms of salary(as investment is huge and finance market is not going that good)..

so i asked you can i expect to earn atleast 30/40kpm inr with just cfa(l-2).for ER.?..also according to you MBA is essential requirement ?
bdw here too i would ask you are you done or doing cfa ?
thanks for the reply
#7 • 26 Apr Like
SilverShadow @ambitiousviolet Hey...same with me, jus finished my bms and directly planning to go for CFA, need your help regarding this. Have you already started studying for CFA L-1? Plz reply..
#8 • 09 May Like
SilverShadow And is it possible to Clear L-2 CFA without any job experience??
#9 • 09 May Like
nids1 Yes you can clear CFA L-2 without any job experience as you need to have work ex for your charter after L-3
#10 • 5d ago Like

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targetcfa

20 Mar

can cfa get job of corporate trainers ?

Amitau

17 Mar

Hi members, You can get free CFA L-1 Question at below link. It's very helpful. http://daulatguru.com/finance-forum-india/showthread.php/464-Free-CFA-Level-1-Practice-Questions-for-June-2013-exam?p=3446#post3446 Regards,Amitau.

zephyr_zephyr

15 Mar

@chintanjain :if u have contacts who can refer to u in IB then go ahead with CFA

leotheking

15 Mar

ok, thanks..will xlpore more regarding dis.. :)

DEVILISHANGEL

15 Mar

very few - this is one of the best recognised.

leotheking

15 Mar

thanks, i would like to know any more options for me if you have in ur knowledge... for operations n SCM domain.

DEVILISHANGEL

15 Mar

yes.

leotheking

15 Mar

thanks... I hav came across PMP 1st time..Is it this PMP u r talking abt??
http://en.wikipedia.org/wiki/Project_Management_Professional

chintanjain

15 Mar

@zephyr_zephyr Well i am already having friends who are working as an ib ,they got selected through campus placement i also got selected but opted out as pay scale was less as compared to my banker profile,m doing cfa as it the best course which is finance industry which is valued globally,i have...

Page 2 of 213

chintanjain

15 Mar

@zephyr_zephyr Wel that i have already done,that's why i wanted to inquire regarding my profile as a banker will be taken into consideration ,but i had a talk with a friend of mine who is cfa l2 and he is working as in same profile as i am working in, he said it is taken in investment cadre.

zephyr_zephyr

14 Mar

@chintanjain :
for conferring cfa charterholder US CFA org. has listing for the wrk exp. which they accept. u may vist their website for detail

zephyr_zephyr

14 Mar

@thaparian :1)I agree. entry int IB depends upon networking. In job is highly sought after job. so in my opnion entry in IB depends upon:
1. MBA from IIMs
2.MBA from non IIM but reputable Bschool +relative/freind who can refer you in IB firm
3.MBA from tier2 B school +campus placement/r...

ProfitShastra-CFA I agree with you.. 25 Apr.

ProfitShastra-CFA In our experience, when we forward resume our students, i.... 25 Apr.

DEVILISHANGEL

14 Mar

are you working in a core field with SCM? if yes then it will be counted if you go through a SCM/Operations specialisations - CFA wont help - Try PMP.

TONYMBA

14 Mar

if you want to do MBA in operations,then CFA wont be of any value....you need to do MBA in finance from top 10-15 b-schools for pursuing a CFA which will add immense value

leotheking

14 Mar

i am an engg with background in SCM i.e. considered under operations..Will it be useful for me to do a CFA ?? i want to persue MBA in operations itselt so that my work ex will get counted,,

1 1

ProfitShastra-CFA From a job point of view CFA will be an overkill in your .... 25 Apr.

leotheking thanks... 28 Apr.

chintanjain

14 Mar

@thaparian Hmmmm thanx for the advice

thaparian

14 Mar

dude, that is what i am saying. How can you generalize the hike expected. For eg : if you enter into equity research, hike will be very less while if you go for wealth management, hike could be more coz that might be related to your work experience

chintanjain

14 Mar

@thaparian Yes my current profile is investment related ,i wanted to know what are my chances after l1,l2 cfa should i switch to other companies or wait till i have a 4 years work ex presently i am already having 1 year experience,and i do not want a hike in current profile i m working in,i want...

thaparian

14 Mar

Well, i think i can answer this, at least partially. First of all, if your work experience is in any way related to investment process, it would be counted. Secondly, CFA certification doesnt guarantee you a salary hike. Completely depends on the profile you get and whether or not your work expe...

chintanjain

14 Mar

@sophiejain Mam can u answer my query .i have completed my bba from good college and pgdm from itm b school and i am currently working as a assistant manager in southindian bank ,i m going to give cfa l1 in dec 2013,wil my branch banking experience will be taken into consideration ?I have good kn...

zephyr_zephyr

11 Mar

DEVILISHANGEL

07 Mar

well that is not your concern. dont even think about that right now. thats not a problem to solve. just get through the cfa levels.

1 1

banu2312

07 Mar

@DEVILISHANGEL Hi, thanks for answering.
My concern is, I have read that after completing level 3, one does not get the charter certificate if s/he doesn't have some amount of work ex. Can you throw more light on that? How many years of Work ex is needed? And will Banking sector count as rele...

DEVILISHANGEL

07 Mar

1. Yes. Everything is crackable by everyone.
2. Target all levels, begin with level 1.
3. It helps a lot if you are in the top 15 older b-schools where companies looking with specific requirements come. 4. It is The Most Globally recognized Finance Degree in the World, in some cases, it ...

2 2

banu2312

07 Mar

Hi, I am an engg grad. and working for a small start-up. I will be joining a bank within a couple of months as probationary officer. After one and half years, I intend to sit for MBA exams (couple of years ago I sat for CAT, XAT and others, didn't make it to any top 10-15 bschools, so left the ot...

1 1

invban

02 Mar

@anand5787 IMHO a FIN certification will surely add value to you as an individual , however its not a necessary and sufficient condition to join an IT Co , I have worked in many SAP Projects and seen normal MBA Fin working in the FICO Module ........so it should not be a problem .....if u do choo...

anand5787

28 Feb

Hi Folks...Need some serious career guidance. Male engineer from tier-1 engineering college and 21 months work ex in HCLTech. Wanted to do MBA so landed up in tier-2 B-schools (screwed CAT and XAT ). Now i am in 3rd sem and i am going to opt for finance. Being a student from Non-Finance backgroun...

ani.davv

24 Feb

@Ridhz If you do not want portfolio management kind of a role then CFA wont be of much use. Moreover, taxation and accounting(only superficially is covered) are not covered in CFA. Moreover, for doing CA 3 years of articleship is compulsor, for which you will have to leave your job. Both CFA and ...

3 3

Ridhz

24 Feb

Dear All,I am an MBA (Fin) from K.J. Somaiya Instiyute, Mumbai. I am already working with a TATA company in a decent finance profile. I feel it is not adequate enough to be an MBA since we lack knowledge of accounting and taxation and hence would be at a disadvantage in future as compared to CAs...

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