Hello All, I am an electronics engineer working in semiconductor industry in US. I have about 3 year experience. I am thinking of taking CFA exams. (I know this is MBA forum but I didnt know where else to post). The idea is to clear CFA …
Hello All,
I am an electronics engineer working in semiconductor industry in US. I have about 3 year experience.
I am thinking of taking CFA exams. (I know this is MBA forum but I didnt know where else to post). The idea is to clear CFA and switch to finance industry or after CFA get a full time MBA and a CFA/MBA combo will help me make the switch. The reason CFA first is because it is cheap, I can gauge my interest in finance without much monetary investment and also I think it will give my MBA application a boost.
What do you guys/gals think about this? Is it too far fetched? Anyone in this group in similar situation? Will LevelI or II of CFA help me get a foot inside a financial comapny?
I know these are lots of Q's but any help will be a great welcome. Thanks
Hello All,
I am an electronics engineer working in semiconductor industry in US. I have about 3 year experience. I am thinking of taking CFA exams. (I know this is MBA forum but I didnt know where else to post). The idea is to clear CFA and switch to finance industry or after CFA get a full time MBA and a CFA/MBA combo will help me make the switch. The reason CFA first is because it is cheap, I can gauge my interest in finance without much monetary investment and also I think it will give my MBA application a boost. What do you guys/gals think about this? Is it too far fetched? Anyone in this group in similar situation? Will LevelI or II of CFA help me get a foot inside a financial comapny? I know these are lots of Q's but any help will be a great welcome. Thanks
A CFA is a useful qualification to have. Before telling you why, some advice - be sure you have a genuine passion for finance & a career in this field before you jump into it, NOT because you want to use it to measure your passion. This is NOT an easy exam.
A CFA/MBA combination is not far-fetched, in fact growing more common i.e many MBAs have CFA's or are getting CFA's even after graduating b-schools. You have to however complete all 3 levels and bring a few years of hard core financial experience to the table (like a few years post MBA in an investment bank).
CFA's are found typically on the buy-side of financial careers, i.e this is a qualification for investment managers - those who manage investor's equity & funds. The CFA syllabus is skewed heavily towards investment analysis and portfolio management, which is the ideal educational preparation for these careers. Typical buy-side functions and careers are - Asset Management, Equity Research, Private Banking, Private Equity, Funds of Funds and Hedge funds etc..buy-side because you're "buying" equity & the opportunity to invest. A typical company to work for would be a mutual fund that invests it's client's money into company stock or other alternative investment vehicles. Because of its more human working ours, reasonable to high compensation and the sheer power seen in managing money rather than seeking it - the buy-side is also considered the more attractive side of a financial career. In reality it is more challenging to get into than a sell-side career. Secondly, it is also more competitive because you're competing not just with other CFAs and MBAs, but also with Ph.D's & Masters in Quant Finance, Advanced Econometrics and statistics.
An investment / commercial / retail / brokerage bank is a sell-side financial institution because you're "selling" the services of raising capital, loans, advisory services and other financial / equity investment products to clients (both private & corporate), while earning a fee for your work. Since it typically requires a lot of sales/business development skills and some hard financial skills, it is typically seen as less demanding to get into. Investment banks also recruit more MBAs immediately out of school than do the buy-side.
Most people find one of 2 ways to get into the buy-side:
1) MBA - Investment bank (5-6 years), network furiously - buy-side position
2) MBA - Equity research with a (example) Fidelity investment or Franklin or MF, portfolio management - move to a high end alternative investment firm (private equity or hedge fund).
Good luck
First of all thanks for that detailed reply.
I have a fair idea of rigors of pursuing CFA. I also have quite a lot of interest in finance and the best way to gauge that is to give Level I which I am planning in Dec 2007. My main problem is will that be worth it after I finish 3 levels, considering I wont get the charter rightaway as I dont have necessary professional background.
Will finishing all three levels get me inside a finance company? Do companies hire people with non-finance background but with CFA?
Thanks
learnfpga SaysWill finishing all three levels get me inside a finance company? Do companies hire people with non-finance background but with CFA? Thanks
Not easy. Given you don't have the finance experience - you will probably need a top notch MBA to open the door for you into either Investment Banking or Investment Management (like Equity Research). With a CFA and no previous experience in finance (considering also that you're not a fresh graduate), it's more challenging.
baccardisprite SaysNot easy. Given you don't have the finance experience - you will probably need a top notch MBA to open the door for you into either Investment Banking or Investment Management (like Equity Research). With a CFA and no previous experience in finance (considering also that you're not a fresh graduate), it's more challenging.
@baccardisprite - For the above profile
1. how useful will it be to do a CFA (I,II,III) to get an admit into a top US bschool.
2. Will CFA add more substance to the candidates profile ?
3. Will engineering background plus engineering workex and CFA trying to enter investment banking come across as a confused profile ?
Please advise as I also hold a similar profile and wanted to know if CFA would boost my candidacy for top MBA program
Thanks
@baccardisprite - For the above profile
1. how useful will it be to do a CFA (I,II,III) to get an admit into a top US bschool.
2. Will CFA add more substance to the candidates profile ?
3. Will engineering background plus engineering workex and CFA trying to enter investment banking come across as a confused profile ?
Please advise as I also hold a similar profile and wanted to know if CFA would boost my candidacy for top MBA program
Thanks
1. It will as a data point on your application, signal to the school you apply to, that you are serious about making a career in finance. It would help, but it's not more important than the essay in which you would need to clearly and succintly articulate your objective (a career in finance), and why that particular school's MBA will help you get there.
2. If investment banking & management is what you want to get into, again yes, since it sends a signal to the employer that you're serious about making a career in finance; and in addition to your MBA, you're investing the effort and long hours to gain a professionally endorsed finance qualification alongside your MBA.
3. No, plenty of engineering grads go into finance. As long as you're clearly able to articulate why finance if your career and why you'll succeed, you'll be fine.
All the best
Baccardisprite
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Hello All, I am an electronics engineer working in semiconductor industry in US. I have about 3 year experience. I am thinking of taking CFA exams. (I know this is MBA forum but I didnt know where else to post). The idea is to clear CFA and switch to finance industry or after CFA get a full time MBA and a CFA/MBA combo will help me make the switch. The reason CFA first is because it is cheap, I can gauge my interest in finance without much monetary investment and also I think it will give my MBA application a boost. What do you guys/gals think about this? Is it too far fetched? Anyone in this group in similar situation? Will LevelI or II of CFA help me get a foot inside a financial comapny? I know these are lots of Q's but any help will be a great welcome. Thanks
I think you can definitely shift your industry. You seem to have work ex and doing your masters degree after work ex is always a bonus for the candidate.
hello guys
i am very confused about my future
what can i do plzz suggest me
i want to go in govt sector through pgdm
right now i hve done my graduation and searching for mba colleges
guys plzzz tell me that if i do pgdm than there is a chance to go in govt sector or mba must b needed in govt sector
i hve done bba in my graduation
my acaedmic profile
10th: 63%
12th: 61%
graduation: 63%
Hi Friends, Myself Manav, working as a Business Analyst in CSC with 3 Years of Experience.
I have done B. Tech in Computer Science and I am average in studies but hard-working with good communication and leadership skills.I am an avid traveller and a professional photographer.
I want your advice / suggestion on my (MBA) career path and growth as per my ability and interest.
I have more interest in a job which can offer me opportunity to :
1.Use creativity , design thinking abilities to deal with real life scenarios.
2.Lesser documentation work (Reading and solution of BRDs and docs) Lesser Desk job with more outdoors and Travel.
3.Chance to interact and deal with people with managing a team and process with a responsibility.
I want to do Full Time MBA (more preferably in Marketing or Supply Chain Management).
So can you please advise me some good specializations in MBA that would be best for me as per my:
1.Academics
2.Work Experience
3.and my Interest.
I would be really grateful for the authentic answers and suggestions. Thanks and Regards.