Is any one studying through study guide ?
@ Ketan.
I have reiterated it time and again that a complete preparation requires reading the text books and practising examples from workbook, Without the textbook readings, your concepts will never be cleared to the core. You may cram methods to answer questions and pass the exams but this will reflect in your work sphere.
Bottomline, only study guides are no match. Textbook reading , though may be a longshot, is the way to go. No escaping the fact.
I have reiterated it time and again that a complete preparation requires reading the text books and practising examples from workbook, Without the textbook readings, your concepts will never be cleared to the core. You may cram methods to answer questions and pass the exams but this will reflect in your work sphere.
Bottomline, only study guides are no match. Textbook reading , though may be a longshot, is the way to go. No escaping the fact.
Hi all,
I wanted to know wat kind of job i have to start with. Due to some personal problems I cannot afford to stay at home until I complete Ms finance.wat kind of job sd i expect after completing alpha and still further after completing beta...I know there is no comparision between a person with MS finane and a person who hv completed only alpha / beta..but I am in need of a job
I was in call centre before and dont want to work in any BPO/call centre again just for the sake of earning...hope someone will advise me
Hi Soniya,
The best bet is to clear 16 papers and get CFA. For that you need to clear alpha, beta, gamma and delta (under new rules). After CFA, you can hope to start with a KPO like infosys knowledge services or fidelity captive unit doing research work. Salary range 3-3.5 lakhs p.a. If you clear papers in first attempt, then you can hope to be a CFA by july 08. Frankly speaking, alpha and beta wont make much difference. Subjects like Security analysis and portfolio management is heart of CFA and for that you need to ace delta.
Did you worked in a voice process before? Which BPO you worked for?
If concepts are clear, one can enjoy doing this course. Otherwise it becomes very mechanical and too tough to remember so many things.
Beta and Delta concepts have to be real good to clear interviews.
ICFAI will generate 1500 CFAs every year now as compared to 150 CFAs earlier. By december 2007, i think CCFA membership will reach 5500 from 3394 now. Next year hopefully i will also join CCFA and the work force :satisfie:
Hi Babu,
I was in HTMT, Bangalore in a semi-voice process ..worked in the same company for almost 3 years. So you were also in BPO rite? My work was not at all hectic... life was cool...however I wanted to get serious before it was too late and was also tired of working in the night shift, doing same work which would have not taken me anywhere.
Well Babu did you try for some companies after gamma...were you able to complete all the groups in the first attempt???
If concepts are clear, one can enjoy doing this course. Otherwise it becomes very mechanical and too tough to remember so many things.
Beta and Delta concepts have to be real good to clear interviews.
ICFAI will generate 1500 CFAs every year now as compared to 150 CFAs earlier. By december 2007, i think CCFA membership will reach 5500 from 3394 now. Next year hopefully i will also join CCFA and the work force :satisfie:
I certainly dont believing in dampening your mood and enthusiasm about being a CFA charter holder but frankly speaking, do you really think that you will be taken in at an analyst level in ER or IB with the new and modified CFA consisting of 16 really basic papers? I doubt..even if you will, you may not be able to get that kind of a profile which is needed to kick start your career and yoy may have to battle for a good long time to get a good placement and a good pay.
I have interacted with many people on this and the general consensus is that nearly all in the industry regard MS (Finance) as the main qualification (and not the new IU Tripura CFA program) as the superior of the 2 and irrespective of the designation, would prefer an MS (Finance) candidate rather than the Alpha + Beta + Gamma + Delta = CFA candidate.
Hence, irrespective of the fact that you may be able to finish the papers and get the designation after your name on the resume, you should fight till the finish and get the MS (Finance) degree because it is the baap of all. That program is far far exhaustive compared to the new CFA program and employers view it in a really good light.
I may have disheartened some by this post but the fact remains that irrespective of the controversy and irrespective of the CFA designation being granted in a new fashion, it is for all to see that the better of the 2 gets a welcome in most cases.
Forget the CFA designation and charter- go for MS (Finance) as that is the real course.
I have received the following E-mail and you will find that the company is asking for CFA - USA specifically, I don't understand why, TumTum please comment:
All they want is a general/specialist finance qualification + work experience. There is a tremendous shortage of skilled people. They are not going to get a 100% perfect candidate. Firms know it, their HR managers know it.
ICFAI have made a clear differentiation between CFA and Ms finance. CFA deals with valuation part while ms finance is broader and lengthy dealing with financial project management, risk management etc. Some body who is Ms finance from ICFAI is a premium knowledge candidate because he has studied all those subjects /case studies in detail...all these things reflect in interview.
It is a human nature to demand more and expect best. I know when ever i will go to see a girl (arranged marriage after CFA
) i will expect all the qualities she should have but i wont get it. I need to settle for less and best.In the above Ad, what matters is experience. Some body who has 7-10 years of financial research experience with top notch firm, he/she should get an interview call. Forget the educational background which is theoritical in nature.
lastly, ICFAI have made big plans to take their CFA brand global and end CFAI monopoly in providing finance professional qualification. The first step was to make a clear differentiation between ms finance and CFA.
I certainly dont believing in dampening your mood and enthusiasm about being a CFA charter holder but frankly speaking, do you really think that you will be taken in at an analyst level in ER or IB with the new and modified CFA consisting of 16 really basic papers? I doubt..even if you will, you may not be able to get that kind of a profile which is needed to kick start your career and yoy may have to battle for a good long time to get a good placement and a good pay.
I have interacted with many people on this and the general consensus is that nearly all in the industry regard MS (Finance) as the main qualification (and not the new IU Tripura CFA program) as the superior of the 2 and irrespective of the designation, would prefer an MS (Finance) candidate rather than the Alpha + Beta + Gamma + Delta = CFA candidate.
Hence, irrespective of the fact that you may be able to finish the papers and get the designation after your name on the resume, you should fight till the finish and get the MS (Finance) degree because it is the baap of all. That program is far far exhaustive compared to the new CFA program and employers view it in a really good light.
I may have disheartened some by this post but the fact remains that irrespective of the controversy and irrespective of the CFA designation being granted in a new fashion, it is for all to see that the better of the 2 gets a welcome in most cases.
Forget the CFA designation and charter- go for MS (Finance) as that is the real course.
You are absolutely right. Ms finance is the baap of all and real good qualification to have. HR managers already know the difference between CFA and Ms finance candidate. If there is a CFA fresher and Ms finance fresher, ms finance will and should get priority over CFA.
ICFAI have changed its strategy last year. I had a word with a senior professor of ICFAI MBA gurgaon. In the year 2005 and before, only 150 students every year were getting qualified as Ms finance/CFA. There were around 2500 CCFA members by december 2005. The new CFA syllabus is more aligned at global level and CA, ICWA and CS also have around 18-19 exams. So to have more candidates they are offerinf CFA after 16 papers, and then Ms finance after another 16 papers (+ sigma).By december 2006, 3394 CFAs were there.
My guess is all the passing CFAs, majority of them will be absorbed by KPOs. My research shows 2,50,000 new positions will be created by 2010 in KPOs and out which 30-35% will be in business and financial research. That means 75000 new positions over a period of 3 years in financial and business research domain. The supply of CFAs will be around 1500 per year. So every one should be absorbed in KPO domain doing research ( copy paste + research too
) and getting some valuable experience.Job or no job, i also agree one should try to aim at ms finance. I googled today morning only difference between ms finance and CFA and it is interesting to find many universities offering ms finance + preparation for CFA US exams. Mostly US universities are offering that combination- Ms finance and after preparing for 1st semester they can sit for L 1 CFA US exams. ICFAI also have global ambitions regarding its educational programs and thats why they made a differentiation between CFA and ms finance.
2-3 friends of mine might clear delta in july and they will be stepping in the market. So, i will let know every one market reaction to CFA.
Lets hope for the best.
Hi Babu,
I was in HTMT, Bangalore in a semi-voice process ..worked in the same company for almost 3 years. So you were also in BPO rite? My work was not at all hectic... life was cool...however I wanted to get serious before it was too late and was also tired of working in the night shift, doing same work which would have not taken me anywhere.
Well Babu did you try for some companies after gamma...were you able to complete all the groups in the first attempt???
I have worked in Convergys and Wipro in voice based process. So my life was hell
. It is good to note you spended 3 years in HTMT. Girls are normally stable, we boys jump ship from one thing to another :)No use in trying after gamma. Security analysis and Portfolio management are real good subjects and they need to be cleared.
Are you there in orkut CFA ICFAI community?
Hi Babu
I have been reading all the good information and guidance provided by you and other valuable contributors of this thread. I have done PGDBM in Finance and to consolidate my position i have regd for the MS(Finance) course. I will be taking Alpha group exams in Oct.
Could you please send me alpha group papers or any group papers you have.
And, I would also, appreciate if you send me the ebook versions of Warrren Buffet books.
Thanks a lot
hello babu and tumtum
i need advise guys...
i graduated in 2006 bcom(hons) and worked for a year for a private company for a year...simultaneously prepared for cat,xat etc etc...right now pursuing mba from isbm kolkata...right now in first year....infact just started with classes..had hopes of getting into the creme da la creme but i guess destiny had something else in store...verbal pretty much screwed me in both cat and xat giving me 87 and 86 percentiles only...
now what i want to know is should i go along with ms finance along with mba..putting in long hours and studying wont be a problem for me...but i want to know that whether an mba from a decent college clubbed with ms finance from icfai could take me places..because i would obviously want my hard work to pay me rich dividends...i also have the international cfa thingi in sight but i guess it'd be premature on my part preparing for it right now as i want to take small steps towards building a career in finance...
i am interested in finance no doubt but have basic knowledge only,basically whatever i studies in commerce but still am interested to learn more,know more and pursue it seriously as a career...
can the ms finance along with mba be completed....i am not a superhuman but am prepared to work hard for it...
suggestions,tips and advise would be indeed appreciated
Hi Babu
I have been reading all the good information and guidance provided by you and other valuable contributors of this thread. I have done PGDBM in Finance and to consolidate my position i have regd for the MS(Finance) course. I will be taking Alpha group exams in Oct.
Could you please send me alpha group papers or any group papers you have.
And, I would also, appreciate if you send me the ebook versions of Warrren Buffet books.
Thanks a lot
This link will be helpful: 4shared - free file sharing and storage - share folder - CFA Papers
I deleted warren buffet e books. I did sended to many people long time back. I will ask some one to send it you if they have a copy.
Thanks.
hello babu and tumtum
i need advise guys...
i graduated in 2006 bcom(hons) and worked for a year for a private company for a year...simultaneously prepared for cat,xat etc etc...right now pursuing mba from isbm kolkata...right now in first year....infact just started with classes..had hopes of getting into the creme da la creme but i guess destiny had something else in store...verbal pretty much screwed me in both cat and xat giving me 87 and 86 percentiles only...
now what i want to know is should i go along with ms finance along with mba..putting in long hours and studying wont be a problem for me...but i want to know that whether an mba from a decent college clubbed with ms finance from icfai could take me places..because i would obviously want my hard work to pay me rich dividends...i also have the international cfa thingi in sight but i guess it'd be premature on my part preparing for it right now as i want to take small steps towards building a career in finance...
i am interested in finance no doubt but have basic knowledge only,basically whatever i studies in commerce but still am interested to learn more,know more and pursue it seriously as a career...
can the ms finance along with mba be completed....i am not a superhuman but am prepared to work hard for it...
suggestions,tips and advise would be indeed appreciated
Not easy to do ms finance + mba together. You can not finish ms finance in 2 years along with MBA. The best you can hope is to get CFA after 16 papers and that should help you with your placements. Ms finance is vast, lengthy and very broad. CFA as a professional qualification deals only with valuation part.
I certainly dont believing in dampening your mood and enthusiasm about being a CFA charter holder but frankly speaking, do you really think that you will be taken in at an analyst level in ER or IB with the new and modified CFA consisting of 16 really basic papers? I doubt..even if you will, you may not be able to get that kind of a profile which is needed to kick start your career and yoy may have to battle for a good long time to get a good placement and a good pay.
I have interacted with many people on this and the general consensus is that nearly all in the industry regard MS (Finance) as the main qualification (and not the new IU Tripura CFA program) as the superior of the 2 and irrespective of the designation, would prefer an MS (Finance) candidate rather than the Alpha + Beta + Gamma + Delta = CFA candidate.
Hence, irrespective of the fact that you may be able to finish the papers and get the designation after your name on the resume, you should fight till the finish and get the MS (Finance) degree because it is the baap of all. That program is far far exhaustive compared to the new CFA program and employers view it in a really good light.
I may have disheartened some by this post but the fact remains that irrespective of the controversy and irrespective of the CFA designation being granted in a new fashion, it is for all to see that the better of the 2 gets a welcome in most cases.
Forget the CFA designation and charter- go for MS (Finance) as that is the real course.
Does this mean the entire existance of CFA/MFA is meaningless and worthless ???
What about the people pursuing this course ??
Arif
Does this mean the entire existance of CFA/MFA is meaningless and worthless ???
What about the people pursuing this course ??
Arif
Arif.
Please read the opening line of my previous post that you have quoted.
I have very clearly stated that I dont intend to dampen anyones enthusiasm.
Hence, I dont intend to say that the new CFA is worthless or that people doing that have been duped or something. Not at all.
I am just stating a fact that the MS (Finance) is much broader and since it is older, it is more recognized than the new CFA program.
I dont think I am wrong to say that the investment community recognizes the MS (Finance) program more than the newbie program and arguably there are obvious reasons for it to do so! Some of the most compelling reasons are
o It has nearly 22 years of existence.
o It was touted as ICFAIs answer to AIMR originally.
o It included 32 papers earlier, which expanded to 36 later with the inclusion of Group Theta in exams schedule. This means it takes twice the effort to complete the MS (Finance) program compared to the current CFA program even if we assume a constant quality of examinations.
o It included case studies in investment analysis which were also graded and the grade factored into the final evaluations.
o Later on, ICFAI also started internships to fortify the program participants with industry knowledge.
o All this was noted by the industry experts and that is how the value of MS (Finance) program has risen steadily over the years.
Can the same be said of the new program? I guess the answer is NO.
This is all that I was stating. I have no intention of breaking anyones morale. On the contrary I have always supported various thread members by giving them correct advice.
Hope you take this in the right spirit.
well MFA is A PG degree... And Its New And not as much broder as Ms finance But Its Worth doing For those who really want to go for Equity/Stock.
And Again What matters Is knowdlge in the End. These degrees Can give to Start Buts its Ur knowldge And the experiance Which will Excel ur Carrier....
Ms Finance> MFA>CFA(After Delta)>Graduation
Its As simple as that...
Arif.
Please read the opening line of my previous post that you have quoted.
I have very clearly stated that I dont intend to dampen anyones enthusiasm.
Hence, I dont intend to say that the new CFA is worthless or that people doing that have been duped or something. Not at all.
I am just stating a fact that the MS (Finance) is much broader and since it is older, it is more recognized than the new CFA program.
I dont think I am wrong to say that the investment community recognizes the MS (Finance) program more than the newbie program and arguably there are obvious reasons for it to do so! Some of the most compelling reasons are
o It has nearly 22 years of existence.
o It was touted as ICFAIs answer to AIMR originally.
o It included 32 papers earlier, which expanded to 36 later with the inclusion of Group Theta in exams schedule. This means it takes twice the effort to complete the MS (Finance) program compared to the current CFA program even if we assume a constant quality of examinations.
o It included case studies in investment analysis which were also graded and the grade factored into the final evaluations.
o Later on, ICFAI also started internships to fortify the program participants with industry knowledge.
o All this was noted by the industry experts and that is how the value of MS (Finance) program has risen steadily over the years.
Can the same be said of the new program? I guess the answer is NO.
This is all that I was stating. I have no intention of breaking anyones morale. On the contrary I have always supported various thread members by giving them correct advice.
Hope you take this in the right spirit.
Thank you for all the deep insight and correct information
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I have been a member of this thread for almost one year and has found that every one including myself is confused about the course.
It is a very sad thing that we are so much confused and even then we have joined the course.
Is it worth doing such a rigorous course under such tremendous presssure and negative frame of mind? I think, No.
My sincere advice to all is that instead of ending up with high BP or any other phsycotic ailment, the best option will be to do an MBA from a reputed B-School or at the worst from a B - Grade School. At least this will give peace of mind.
What is the point in wasting so much efforts in doing CFA and that too with a doubt in mind. Instead of that, why not study hard for the entrance test and go for an MBA from a good B - School. Put 5 - 6 hours in test preparation instead of wasting them in CFA. As far as I am concerned, I can continue the course as I am working full time with a PSU Bank because of which Ful Time MBA is out of scope.
MBA can be completed in 2 years flat and you become employable the moment you complete the course and that too in the same profile a CFA/MS(Finance) gets.
Look, I am not against CFA/MS(Finance), infact I feel it is much superior to MBA coverage wise and reputation wise. But is it worth having such tensions throughout the course. I think No.
Please note that I am just expressing my views, so no fights/bad feelings, please.
Dear Ketan,
Getting into a good b-school is a challenge in itself. Its great to be optimistic but one would need to balance ambition and ability.
Take an extreme estimate of an intake 333 students(which I know is way off the mark) per institute among the top 15 institutes which would include symbiosis ands NMIMS that means a total intake of 5000 students out of some 200k aspirants. (obvious that most would be cumulative apllicants of cat).
And what is b-grade b-school? MET or Sydenham, Nirma and their kin. Just to let u know Cos come to these institutes to pick up sale people, period. I am not talking or taking a short in the dark but great Cos. like Kotak, Edelwiss and other huge brokerage houses and even several AMC's come to these 2nd rung institutes to pick up sales people, even if ur done finance.
I mean u spend 2 yrs of ur life doing and MBA and then get into an RM position, I mean what the hell is wrong with you? Why do an MBA and get into selling MF's, Brokerage products, acquiring HNI's, selling insurance and other retail products. I mean I have been competing with guys from MET and Somaiya and trust me most do'nt have an edge, so much for a b-grade school. (assuming no long run impact and initial salary package)
Yes, there ar cos like crisil, BA Continum that have come to MET and sydenham but have picked 2 or 3 students for research and other operations positions. So next time if u see someone from Nirma and MET having joined Edelwiss or for that matter HSBC securities, be warned he mostly(and I say this with some conviction) be into just selling of Financial products. I mean I have clinched positions for RM's without any post grad. Its just goes to show what pre-requisite skills one is looking forward to.
Lehman Brothers for ex in Mumbai has several f***ed position with decent packages and need MBA's for it but trust me I have seen those profiles and speak to anyone who has been into hardcore backoffice operations in equities and u 'll know that their experience will never be considered seriously. Its great to be associated with such a huge brand in te BPO space, down the line people have regretted cause ur learning is limited and ur scope is just restricted eventually to team operations rather than financial operations. People have joined cause of the pay but down the line many would regret and have regretted!!
Why do an MBA and become a SAP consultant? Yeah right I'm sure its been an ambition since childhood to a SAP consutlant after a BCOM+MBA! Mant guys find it real difficult to get into mutual fund accounting where a plain CA would do and know of some grads who have clinched these positions(obviously with a little luck).
I'd rather start as a dealer and work my way upwards than land up for retail sales after a freaking 2 yr course. So whats better 2 yrs of CFA with work -ex or MBA from B-GRADE?
I mean type CFA and MBA on job site. Why wouldn't u find one position for a CFA in sales and why several MBA-Finances into sales? The answers lie therein......Its obvious that the recruitment market isn't confused about the course.
I posted with the assumption of not having made it into a top b-school....
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