People, please don't fool yourself. CFA is no magic wand. Don't expect an I Bank job after clearing CFA, though clearing all the levels is a herculean task in itself.
Btw how many I bank jobs are available in India ? Thousands of people are enrolling for this designation each year and that leads to over supply of CFAs (Different levels) in the market. Hence, erosion of exclusivity and bargaining power on the part of charterholder.
The best jobs will always go to people from IIMs/IITs. If you want, enroll for the designation for continuous learning and better knowledge.
Cheers
People, please don't fool yourself. CFA is no magic wand. Don't expect an I Bank job after clearing CFA, though clearing all the levels is a herculean task in itself.
Btw how many I bank jobs are available in India ? Thousands of people are enrolling for this designation each year and that leads to over supply of CFAs (Different levels) in the market. Hence, erosion of exclusivity and bargaining power on the part of charterholder.
The best jobs will always go to people from IIMs/IITs. If you want, enroll for the designation for continuous learning and better knowledge.
Cheers
i agree with u 100% .. even at IIMs.. having a CFA L2 doesnt guarantee you a shortlist from the iBanks..
kamalaandi Saysi agree with u 100% .. even at IIMs.. having a CFA L2 doesnt guarantee you a shortlist from the iBanks..
I agree... My friends boss is a CA CFA... He is in HSBC bank managing MIS dept... Though salary will be certainly atleast a quarter of a crore... He is there because of CA and NOT because of CFA...
i also wants become cfa which is better
Thanks Darius.
Your post and the relevant discussion was very helpful.
Your post and the relevant discussion was very helpful.
kamalaandi Saysi agree with u 100% .. even at IIMs.. having a CFA L2 doesnt guarantee you a shortlist from the iBanks..
Sorry Kamal, but that is not true. You know students who had nothing but the CFA L2 to get 3 shortlists out of the slot zero ibanks.. I know you're kicked about getting through without a CFA, but I would advise you not to discount it as useless.
@all : The CFA won't make you stand out, but will definitely show great promise towards finance to the person who will shortlist you for an interview. There's no guarantee, agreed but year after year CFA L2s have been getting shortlists at the IIMs from a few banks if not most of them. Do not give up, if you can strike the balance. Having said all this, networking is very very important to land that awesome investment banking job if you're not doing an MBA already.
hey guys i am an mba 1st yr soon to be 2nd yr though. i was planning on writing cfa level 1 in dec 2010 and have just started my prep. i just wanted to know. how good are the cfa books by kaplan? and if i get the books for cfa level 1 june will that be sufficient for cfa level 1 dec?
Sorry Kamal, but that is not true. You know students who had nothing but the CFA L2 to get 3 shortlists out of the slot zero ibanks.. I know you're kicked about getting through without a CFA, but I would advise you not to discount it as useless.
@all : The CFA won't make you stand out, but will definitely show great promise towards finance to the person who will shortlist you for an interview. There's no guarantee, agreed but year after year CFA L2s have been getting shortlists at the IIMs from a few banks if not most of them. Do not give up, if you can strike the balance. Having said all this, networking is very very important to land that awesome investment banking job if you're not doing an MBA already.
Very well put.
I would like to second that, based on my experiences.
kamalaandi Saysis there any CFA candidate who got into an investment bank just on the basis of having a CFA??
yes sir,
I am one
Cheers
Akshat
Fellas,
Has anyone talked to somebody who's cleared all the three levels ? How did it help them in their career ? I have gone thru all the posts of Rajatb and all. So that much I know. Any gyaan from someone who's cleared all the levels ?
As far as my info goes, CFA doesn't add great value to your CV as one would expect from it's reputation/hype,. It has not helped people leapfrog in their career.
Whatsay ?
Hi darius
I have cleared all 3 levels and it has helped me immensely. Especially since i come from an engineering background.
It helped me during the summers, as well as the finals.
Good that you question the assumptions.
Cheers
Akshat
Hi darius
I have cleared all 3 levels and it has helped me immensely. Especially since i come from an engineering background.
It helped me during the summers, as well as the finals.
Good that you question the assumptions.
Cheers
Akshat
Dude, you are from IIML. THAT MAKES ALL THE DIFFERENCE. You are already in elite crowd and then you differentiated yourself by clearing all the three levels. The pre-MBA work experience and Summers at ML boosted your CV as well.
So can we generalise from this ? What about the average Joe who is joining the mad rush without any significant edge ?
Anyways, I have gone through all your posts on PG. Kudos to your value addition.
Cheers
Sorry Kamal, but that is not true. You know students who had nothing but the CFA L2 to get 3 shortlists out of the slot zero ibanks.. I know you're kicked about getting through without a CFA, but I would advise you not to discount it as useless.
@all : The CFA won't make you stand out, but will definitely show great promise towards finance to the person who will shortlist you for an interview. There's no guarantee, agreed but year after year CFA L2s have been getting shortlists at the IIMs from a few banks if not most of them. Do not give up, if you can strike the balance. Having said all this, networking is very very important to land that awesome investment banking job if you're not doing an MBA already.
here comes THE man.. CFA L2 ppl like you have got shortlists.. but with such terrific acads, even without CFA, shortlists are guaranteed.. academics plays a big part here.. But i am 100% sure that I know atleast one CFA L2 guy who had not got a shortlist ..
CFA L2 ALONE doesnt guarantee you shortlists.. I stand by my statement .. ofcourse you know much better..
ok.. these are by the far the best two articles written on investment banking that I have ever seen
Sales & Trading vs. Investment Banking: Lifestyle Mergers & Inquisitions
Sales & Trading vs. Investment Banking: Recruiting Mergers & Inquisitions
please go thru completely..
I m not that eligible to comment on CFA.. read what the "experts" have to say abt it..
"Stuff Investment Bankers Don't Like: The CFA, Your Activities, Your Ph.D., and More
Stuff Investment Bankers Don't Like: The CFA, Your Activities, Your Ph.D., and More | Mergers & Inquisitions "
CFA is not a waste completely.. but it wont get u an Investment banking job on its own..
I was planning to take CFA L1 very soon.. but now totally convinced that its not needed and it is not very useful for me..
Hi Folks,
I am planning to take to CFA Level 1 December Exam. Kindly go through my profile and please suggest would it be the right decision....
Work Experience of 5 years (Sales) in Banking and insurance. Presently as a Territory Manager .I am B.SC(M) graduate and also have completed post diploma in french..
Converted NMIMS 1 year executive call and was not able to convert XLRI GMP
Xth -60%
XIIth - 59%
B.Sc -63%
Hey puys i am kind of new to this cfa concept, so please help me out a bit. i am planning to write cfa dec 2010 but i have not registered yet, i have started my prep with schweser.
1- after i register for the test does cfa provide study material for the test included withing that cost?( please pardon if am asking a stupid q)
2- what is the best way to prepare? i mean which material?
Hey puys i am kind of new to this cfa concept, so please help me out a bit. i am planning to write cfa dec 2010 but i have not registered yet, i have started my prep with schweser.
1- after i register for the test does cfa provide study material for the test included withing that cost?( please pardon if am asking a stupid q)
2- what is the best way to prepare? i mean which material?
1- Yes , U need not pay any extra for books. Cost is included in registration fees. 2) Schweser is the best choice. And its sufficient for clearing.
ABCLIKS Says1- Yes , U need not pay any extra for books. Cost is included in registration fees. 2) Schweser is the best choice. And its sufficient for clearing.
Schweser was quite helpful in past
but of late it has not been
follow the discussion
http://www.pagalguy.com/discussions/cfa-level-2-2010-25049656
If not Schweser then what? Guys kindly update if any new or better materials are available.
Schweser was quite helpful in past
but of late it has not been
follow the discussion
http://www.pagalguy.com/discussions/cfa-level-2-2010-25049656
I will still maintain that if u are well versed with Schweser , U can crack the exam... Schweser also provides the sample question papers. So Schweser Notes and Papers are more than enough to crack it. I cleared in June09 and my friend cleared in Dec09 both with 8/10 in first quartile and 2 in second quartile.... The obvious advantage to us was both of us are from commerce background....