Chartered Financial Analyst (CFA) from ICFAI_Hyderabad

Jobs & Careers
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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.


Thats not an applauding post. You could have expressed your sadness in some different way. CFA bill 2007, ccfaindia website updates, ICFAI ad in economic times inviting employers to hire CFA from ccfa database/promoting CFA- Things are getting positive.


Beta is extremely tough and very very difficult to crack in 2 months along with full time job. Time value of money, bond valuation, risk and return, capital structure, probability, hypothesis etc are difficult concepts to understand and appreciate.


There is no problem in the course. I will end up spending Rs 5 lakhs p.a in the b grade MBA school as compared to 50000 in ICFAI CFA/Ms finance.

Beta and delta are extremely challenging but thats what makes a CFA. In ms finance, kappa and theta are again challenging to make a full fledged finance professional.

It is a fantastic course. All of my friends have got jobs in all sort of profiles. None of them is a relationship manager. Look at the contents. Unbelievable. I wanted to understand nifty strangle, credit swap and LIBOR/MIBOR and i just need to open my CFA books to understand and practice these concepts.

The problem is not the course or placements. The problem is you are not able to handle the rigour along with full time job. ICFAI cant give CFA/ms finance to every one as a generalist degree. It is a professional course and needs effort fine tuned with a personal schedule- Working full time/student etc.

Career is a long term thing- A life changing experience. Doing CFA is one part of the game and sometimes the minor part. Adding 5 years of decent financial experience on the CV is a major part and experience is appreciated along with any good finance qualification- CA,MBA, CFA, ICWA, Masters.

You mentioned once you are not getting career opportunities in a PSU bank. Thats why i used the term ' CFA as a life changing tool'. It has the potential to change your life, salary and career for good. However, it needs utmost patience. It might take you little bit time to clear beta and delta-CFA and then Ms finance along with your job. Then comes the experience part which means going from one place to understand to give interview. However, all the things which you will be doing are shaping all together a different person.

Take a deep breath and re start your preparations. In the last 12 months, i decided to leave this course 3 times because it is extremely tough. I was not able to cope up with vast workbook problems and numericals. But my family, google searches and a finance professor motivated me and i am now again motivated to finish the course !

Right now, CFA enrollement is around 47000 series like CFA 47XXX. There are 3394 CFAs. That means out of 47000 people registered in the last 22 years, only 3394 have been able to pass this course completely (Ms finance)-7.22 % . God bless. 😃
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My opinion is exactly the opposite of Ketan:
"The full flesh Ms finance program from ICFAI is as good as any top/A + grade MBA school. Look at the contents of Ms finance . The knowledge reflects in the interview making placement effort success. Sooner or later any good ms finance qualified person which has got personal capabilities and is in well developed financial hub will rub shoulders with the likes of IIMs, MDI, SP jain".
"Prefer Ms finance rather then going to a b grade MBA school.My friend at amity business school and TAPMI is also of same opinion. ROI is impressive in ms finance".
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ketan141979 Says
I have deleted my post because you have convinced me on the point.

So you are convinced. Great. May I ask for how long before you return to your normal panicky self?
ketan141979 Says
Anyways, I was expressing one of my thoughts.

Good. Now be careful while expressing your thoughts if you expect others to be discreet in expressing their thoughts. BTW, even I was expressing my thoughts.
ketan141979 Says
The way you have relpied me was , unlike TumTum's, the most humble one. This is the way one should reply to a post and not make a fool out of that person.

If you express your opinions like a fool, you will be ridiculed like one. Make no bones about it dude ! You asked for it !

Your nervousness has been answered every time by some or the other forum member but yet again, you ask the same questions. This rhetoric won't get you anywhere.

I am saying for your own good. Give this a serious thought! I don't care what opinion you hold of me for that matter. But having said this, I thought that it is best to free one's mind of any controversies and focus on study, but you do not seem to get the game!

I have decided now that I won't participate in this forum anymore because I don't like to get into verbal duels.
I am seeing that happen here and I rightly feel that Ketan is letting the morale down of other CFA students, hence I adopted this aggressive stance and I dont feel that I am wrong.

Goodbye thread members.
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I have deleted my post because you have convinced me on the point.
Anyways, I was expressing one of my thoughts.
Sorry, if I have hurt anyones feelings.
The way you have relpied me was , unlike TumTum's, the most humble one. This is the way one should reply to a post and not make a fool out of that person.


I see apart from tumtum, vinit and hindolam have also replied to your post. All the 3 people are very well settled in the industry and you should respect their opinions.
It is their politeness that they have taken time out of their busy schedules and replied to the posts to benefit current students.

tumtum is leaving the forums because he see no value addition here- Simple mindless posts. If you will attack the alma matter, you are going to get back the harsh replies.


Be careful what you say here and choose your words wisely.
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I have decided now that I won't participate in this forum anymore because I don't like to get into verbal duels.
I am seeing that happen here and I rightly feel that Ketan is letting the morale down of other CFA students, hence I adopted this aggressive stance and I dont feel that I am wrong.

Goodbye thread members.


Tumtum bhai, i request you- straight from my heart not to leave these forums 😞 . Your guidance, mentorship and knowledge driven post inspires, motivates and help a current/aspiring ms finance students to excel and perform at their best level.

Please reconsider your decision. I know you are busy with personal and professional life along with FRM but your posts definately helps all the students.

If you leave these forums, it will be a 100% attrition and i will close the shop (forums) ??:.
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i had posted earlier saying that i am pursuing mba from isbm but i have left it and m givin the b skool entrances another shot this year.

veterans of this thread please be kind enough to answer some of my questions!!

1)should i pursue ms finance along with studying for the b skool entrances and also for the gd/pi thing if i do get calls??what do you guys suggest..please draw from your own experiences or your friends expressions..those things always help!!

2)which course do you people suggest.cfa or ms(finance)??i am a bcom hons..2006 graduate??working in mfg sector for the last 1 year..

3)suppose i do get an admission into a b school would it be at all possible to manage ms finance or for that matter a cfa along with full time mba??

4)is ms(finance) and cfa a good option even for mba's??

5)how are the job prospects for a mba in finance with cfa or ms finance.apart from the value addition to the cv will it help a b school graduate in placements??

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Double Post, Sorry

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i had posted earlier saying that i am pursuing mba from isbm but i have left it and m givin the b skool entrances another shot this year.

veterans of this thread please be kind enough to answer some of my questions!!

1)should i pursue ms finance along with studying for the b skool entrances and also for the gd/pi thing if i do get calls??what do you guys suggest..please draw from your own experiences or your friends expressions..those things always help!!


To begin with me no veteran.. nevertheless moi 2 cents

Assumptions:-
1.Obviously would be aiming for a better institute.
IF ur talking about a better inst then its obvious that the course would be on its own challenging and demanding for u to allocate time to pursue the course with some consitency in ur efforts.

So the risk would be to pursue the course at the cost of doing very well in ur MBA or CFA as both would be equally and exceptionally very demanding. Its for one to evaluate his abilities and judge whether he/she could put in required efforts.

Even if ur in Sydenham and Somaiya and Wellingkar.. the general b-grades colledges one finds it difficult to pursue both course and atleast I have'nt come across anyone who has scaled both courses simultaneously, unless one is exceptionally brillant or a CA and therefore the obvious links in both courses.


2)which course do you people suggest.cfa or ms(finance)??i am a bcom hons..2006 graduate??working in mfg sector for the last 1 year..


MS finance-Tried and tested


3)suppose i do get an admission into a b school would it be at all possible to manage ms finance or for that matter a cfa along with full time mba??


ANSWERED above


4)is ms(finance) and cfa a good option even for mba's????


Depends one which inst's MBA. Else yes nevertheless.


5)how are the job prospects for a mba in finance with cfa or ms finance.apart from the value addition to the cv will it help a b school graduate in placements??


Great! Okay I know u need the prospects and not a one word answer. Put it this way, u want research and other invesmnet management positions then CFA is obvious and a no brainer.

If ur okay to budgeting, cost control, auditing, MF accounting, team operations, business analyst positions, treasury operations and other operational profiles and evern being an RM and selling MF's and insurance then only MBA would suffice. If ur clear about Research then CFA unless one is confident about a top A grade colledge.
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@ketan
ketan bhai i was not able to go through the entire 100 odd pages of the thread and hence i posted my queries specifically...i am sorry to all the regulars of the thread if they were answered before and my post makes this thread lengthier..
i am indeed worried but isnt the very essence of pg lessening worries of others,after all its a forum where the ones who know clear the doubts of one who don't!!

@vinit

thank you vinit bhai for your answers...
would you suggest to me that i try and clear the first 3 levels of cfa or ms finance depending on whatever course i decide to pursue before july next year and then take it from there...clearing those 3 levels wont only value add to my cv but also right now i do have the time to study because normally on weekdays i am just giving a hr to my cat preparations..and that leaves me atleast 2 hrs to study for cfa daily making it 10 hrs a week for 6 monthsfor level 1..saturdays and sundays i devote to taking mock cats and solving practise tests so leave the weekends out of the equation..

come january,all the tests would be over and done with and i'd again have good time to
prepare for the july exams!!

then if by the grace of god i do get through a good b school..you are right in assuming that sydhenam,kjs and nirma are the minimum i'd be aiming for i can ascertain whether i am able to clear the remnaining levels along with mba else i can always clear these levels after graduationg from the b school....

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@vinit

thank you vinit bhai for your answers...
would you suggest to me that i try and clear the first 3 levels of cfa or ms finance depending on whatever course i decide to pursue before july next year and then take it from there...clearing those 3 levels wont only value add to my cv but also right now i do have the time to study because normally on weekdays i am just giving a hr to my cat preparations..and that leaves me atleast 2 hrs to study for cfa daily making it 10 hrs a week for 6 monthsfor level 1..saturdays and sundays i devote to taking mock cats and solving practise tests so leave the weekends out of the equation..

come january,all the tests would be over and done with and i'd again have good time to
prepare for the july exams!!

then if by the grace of god i do get through a good b school..you are right in assuming that sydhenam,kjs and nirma are the minimum i'd be aiming for i can ascertain whether i am able to clear the remnaining levels along with mba else i can always clear these levels after graduationg from the b school....


Dude I also Assumed that u wouldn't be working. Working and clearing CFA is huge in itself. Working and then preps for bschool exams are again a challenge in itself. U've kinda decided to shoulder all tree tasks.

I'll cut it short and put it this way. First evaluate whether u can be consistent in ur efforts and not to scare u it difficult and has been for most to pursure work and CFA. So like I said evaluate ur self and then decide.

But atleast do give a proper shot at the first 2 levels and I've seen... u've ....comm.... hons......as they as well add value i.e. cv dressing especially during MBA entrances.

And dude please do'nt mind this but since u mentioned that u've quit ur current b-school and that obviously would be to get into a better institute so please be clear on what u want.

If u've quit ur bschool in search of a better insititute then just concentrate on ur bschool. U wouldn't lose a hell lot net effectlively just 6 months of a 30 yr career if u pend ur preps for CFA till jan next yr. till ur done with bschool entrances. Once ur done with bschool entrances then start CFA full swing.

Also may I add, please mention whats ur work ex. Cause thats impt. And also please do mention the reason for the current profile as in a brief Job Description. And also please mention why r u doing CFA as in whats ur objective? Just CV addition wont take u anywhere.

I at no point intend to de-motivate but would be glad if u could answer what I posted... it'll help other better to advise.

Things like Why MBA and why CFA, these qns seemed stupid to me for a long time and also was irritated once, I must admit when Manan aka tumtum asked me why research.

But trust me these are very impt qns!! Period. In knowing what u want and why u want it.
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vinit bhai
thanks a lot for giving such a detailed reply..
now coming to your questions about me..
lemme tell you my complete profile.
people please forgive me if this goes on for too long...but its important for vinit bhai to know so he can answer me properly

10th-2001-88(icse)
12th-2003-67.4(cbse science)
grad-2006-69(b.com(h) in accounts)
cat 2006-87.23(prepared for 2 months)

i have been self employed since the last year...after graduating i started a properitership firm and i mainly provide iron ore fines to big export houses who export these fines to china... i have worked with companies like jaguar which is a part fo the jindal group of companies...i have done a turnover of Rs. 2 crores in 1 year but generally unhappy with things...my father has a firm of his own but i work seperately and i am not involved in family business..

now my problem is that i dont have funds and unfortunately for a plain graduate from a modest college it is difficult to get things done in banks and get finance....i want to establish a company and do bigger turnovers but unfortunately with limited funds that i have it is proving very tough...so ideally i want to do an mba from a good b school not only to get exposure to the corporate way of functioning after working for 2-3 years but also to attain a brand of an elite institute and a professional qualification which would really help me 5-7 years from now when i want to set up a company of my own..

i have genuine interest in finance but other than the routine stuff i learnt in collge i know little about it..i want to get a cfa or a ms finance not only to value add to my cv but also generally to know more about finance..after all isnt this knowledge going to be benificial even when i decide to have my own enterprise...and ideally if i could complete it with mba or after 1 year of graduating then well and good...

coming to time i could devote..my scenario is just that sometimes i can devote 5-6 hrs in a day and sometimes i can go weeks without devoting a hour...but i am in the process of winding down my present deals and not taking up any more work so i can concentrate more on studies...

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vinit bhai
thanks a lot for giving such a detailed reply..
now coming to your questions about me..
lemme tell you my complete profile.
people please forgive me if this goes on for too long...but its important for vinit bhai to know so he can answer me properly

i have been self employed since the last year...after graduating i started a properitership firm and i mainly provide iron ore fines to big export houses who export these fines to china... i have worked with companies like jaguar which is a part fo the jindal group of companies...i have done a turnover of Rs. 2 crores in 1 year but generally unhappy with things...my father has a firm of his own but i work seperately and i am not involved in family business..

i have genuine interest in finance but other than the routine stuff i learnt in collge i know little about it..i want to get a cfa or a ms finance not only to value add to my cv but also generally to know more about finance..after all isnt this knowledge going to be benificial even when i decide to have my own enterprise...and ideally if i could complete it with mba or after 1 year of graduating then well and good...

coming to time i could devote..my scenario is just that sometimes i can devote 5-6 hrs in a day and sometimes i can go weeks without devoting a hour...but i am in the process of winding down my present deals and not taking up any more work so i can concentrate more on studies...


Okay dude going by what u mentioned u need an MBA. You for ex. wouldn't need to know how a derivative is priced or would ever employ the butterfly spread used in derivatives.

And I don't think what u need to know interest rate swaps et al or a credit default swap. The first 2 levels should be sufficient to u even in terms of appreciating ur MBA. What u need is business management rather than invesment management. Unless u do look at it at a personal level for the course to assist u in terms of knowledge and employing it in ur cos portfolio.(okay I think I am getting a bit far). In a nutshell u need MBA for than a CFA.

I'll paste an email response that I received way long backfrom Kazi amin,board of directors of CFA AIMR.

What I wrote.-

Hi Kazi,
My name is Vineet Amin. I came across your email ID on the CFA website and this email is with regards to the CFA course. My query is very basic in nature and the usual one as to why should one pursue the AIMR CFA course as compared to the one offered by ICFAI.

I do understand the obvious benefits of doing the US course is the international aceptance of the course as compared to the one offered by ICFAI. But what would be the other reasons for one to undergo this course and not the one offered domestically.

I do intend to pursue an MBA in finance and currently working with Abn Amro. I want to know how it would play out if one wants to get into Investment banking operations. Would it suffice if wants concentrates on his MBA or does a CFA like the one from AIMR as in does it add an advantage when intends to get into Investment Banking.

I am 22 years old and like I said before do intend to go in for an MBA but would you suggest anyone to complete the CFA course and then go in for an MBA or should one get into an MBA. What would be the pros and cons of doing a CFA(and the one from ICFAI) and would also like your views on how a CFA is perceived in the job market.

His response

Dear Vinit

Am offering my personal opinion - i think the MBA finance is a fulltime post grad qualification which the indian market understands well and therefore CFA, US or ICFAI are no subsitute for that. The CFA Program is very useful as a professional membership over and above a fulltime post grad qualification such as MBA or CA, particularly as you have pointed out, in an international context.

Please also note CFA is more from an investment management perspective
(fund management, portfolio management, equity research, etc) rather than an
investment banking perspective.

Hence suggest you definitely do an MBA. Pursue CFA in addition to an MBA either now or later depending on your time availability.

Rgds
kazi

Obviously the suggestion of MBA over CFA is with the assumption of having made it into a grade a school.
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Hi Kazi,
My name is Vineet Amin. I came across your email ID on the CFA website and this email is with regards to the CFA course. My query is very basic in nature and the usual one as to why should one pursue the AIMR CFA course as compared to the one offered by ICFAI.

I do understand the obvious benefits of doing the US course is the international aceptance of the course as compared to the one offered by ICFAI. But what would be the other reasons for one to undergo this course and not the one offered domestically.

I do intend to pursue an MBA in finance and currently working with Abn Amro. I want to know how it would play out if one wants to get into Investment banking operations. Would it suffice if wants concentrates on his MBA or does a CFA like the one from AIMR as in does it add an advantage when intends to get into Investment Banking.

I am 22 years old and like I said before do intend to go in for an MBA but would you suggest anyone to complete the CFA course and then go in for an MBA or should one get into an MBA. What would be the pros and cons of doing a CFA(and the one from ICFAI) and would also like your views on how a CFA is perceived in the job market.

His response

Dear Vinit

Am offering my personal opinion - i think the MBA finance is a fulltime post grad qualification which the indian market understands well and therefore CFA, US or ICFAI are no subsitute for that. The CFA Program is very useful as a professional membership over and above a fulltime post grad qualification such as MBA or CA, particularly as you have pointed out, in an international context.

Please also note CFA is more from an investment management perspective
(fund management, portfolio management, equity research, etc) rather than an
investment banking perspective.

Hence suggest you definitely do an MBA. Pursue CFA in addition to an MBA either now or later depending on your time availability.

Rgds
kazi


Excellent acandemic knowledge transferred. Thanks vinit for the above post.

I have a question for you:

1) Genpact is hiring investment banking analyst to support a very reputed bulge bracket IB firm based in NYC. The main duties are: Comparable analysis, Company/Industry analysis, financial modelling, pitch book creation and database management.

The job responsibilites are same just like an analyst in NYC. The only difference is the location difference. Now an investment banking analyst in NYC works for 80-100 hours a week. Is it true there are long shifts in KPO industry dealing with investment banks? May be you have an idea...thats why i asked you.

2) I am doing lot of google searches understanding IB industry- Both global market and domestic market. Am i true in my opinion written below ? My opinion is:

Within IBs, M&A; and corporate finance have the longest hours while research and sales and trading desk still decent hours. I mean once the market closes sales and trading team should head back home.....:)

I hope tumtum also shares his industry knowledge with us :)...
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Excellent acandemic knowledge transferred. Thanks vinit for the above post.

I have a question for you:

1) Genpact is hiring investment banking analyst to support a very reputed bulge bracket IB firm based in NYC. The main duties are: Comparable analysis, Company/Industry analysis, financial modelling, pitch book creation and database management.

The job responsibilites are same just like an analyst in NYC. The only difference is the location difference. Now an investment banking analyst in NYC works for 80-100 hours a week. Is it true there are long shifts in KPO industry dealing with investment banks? May be you have an idea...thats why i asked you.


Babu, to begin with I must say that the trend for various higher end KPO/invesment analysis profiles/processes are usually seen in NCR/Gurgaon as in cos like Genpact and evalueserve. And yes its got to do with movement of skilled labour. There is no dearth of conusltancy firms in Mumbai i.e. as a CFA obviously one would wanna work where exposure is directly related to the domestic capital markets.

I mean brokerage firms today have in-house invesment research/analysis teams that offer an advisory role to manage portfolios. So here u not just doing financial operations but it is leading to portfolio structuring and invesment management. I mean take the insititutional side of equities or for that matter HNI's, its a huge opportunity! So an MBA or CFA isn't restricting himself to financial operations as PnL and finacial anaylsis but all leading to advisory services. Take Wealth management, Insitnal(said b4), PCG, PMS,all operative not on financial consultancy but a lot has to do with portfolio management.

The KPO firms in Mumbai among a few are Gridstone Research, Integron that actually deal with quality research work. ABN AMRO also has few processes that have high end research work.

Anyways ur qn. was about long hrs. Yes, ABN AMRO shifts i.e. for the higher end(or so called higher end) officially are 9 to 6 but people extend it to 9 pm on even normal volume days.

At kotak securities, its a standard qn they ask during interviews-"Are u comfy with late sitting?". I was like whats that? Oh ...Okay its where u aren't paid for overtime:satisfie:. So long hrs are associated with KPOS processes or for that matter operations here that I know of.


2) I am doing lot of google searches understanding IB industry- Both global market and domestic market. Am i true in my opinion written below ? My opinion is:

Within IBs, M&A; and corporate finance have the longest hours while research and sales and trading desk still decent hours. I mean once the market closes sales and trading team should head back home.....:)


True and also Depends on which part of let say M&A.; Abn Amro again has a process that is post handling of m&a; for which they require a decent MBA. I'll explain post handling with a reference for those who don't.

Fund manager takes an invement decision and once the trades are booked, post all of it as in funds for the trade, pay-in and pay-out, MTM, NAV priciing is done by the fund accounting team. So post handling of M&A; here is at the operational end i.e. post the decision, so basically backend work. But shift/no of hrs are okay.

And yeah like u said, trading team can back home a little later once the market closes. Usually timings for dealers even on the insititutional side is 8.30 to 5.00. But dude they don't have time during the day days especially on heavy volume days. So its very demanding once ur at the desk. On a lighter note its a great way to get rid of ur nicotine habits like my friends have.
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well folks, i ws just reading the last 5-6 pages here and i see all sorts of childishness here ! i'v personally interacted with Tumtum.he's working in a REALLY good position @ one of the leading I-banks in a terrific profile and fantastic pay

so if he gives advice...TAKE IT ! n if he's being frank, isnt dat really good? or does anyone here want to live in dreams? i dont think anyone on this thread has d exp n profile he has, so u guys u should really b thankful for wat he has 2 say ! we dont have anyone like dis on the CFA (AIMR) thread.
all candidates.:neutral:
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hi puys,
I am new to this thread and I wish to pursue my CFA(ICFAI) along with my MBA. As i decided to opt for finance, i found that doing CFA is an added advantage to my profile.

My profile:

qualification : B.E. - CIVIL 69% 2006 passed out
Work exp : 1 yr as Site engineer
Cat 2007 :81%ile

Here are my doubts, It would be very helpful if anyone answer my questions.

1. I found that many of them who are doing CFA are frm commerce background, so is it difficult to grab the concept for the people with different background?

2. Is it possible to concentrate on CFA with regular MBA?

3. how many hours study required to study CFA?

eagerly waiting for ur reply!