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.