CFA in itself will NEVER help (in terms of job) any individual unless he/she has previous industry exposure either in finance or other sectors (automobiles, aviation, fmcg etc)
Most People think that everyone who goes into an I-bank does equity research, Derivative hedger, Risk management, trading strategist etc. This is hugely wrong. Actual real time big shot stuff are done by most Quant Phds and its becoming increasingly the case which is why a lot of the people (including from India) do a lot of tertiary education in the US (including a second MBA). There are even I-bankers who were past entrepreneurs in 3+ fields and hence have a lot of depth in those areas which they effectively use to allocate wealth.
and Everyone who wants to get into finance - if you think you can get bored to death and still do this stuff or you have no idea about what you are doing as of yet and you are above 25, then please re-evaluate what you want and where you want to be in 5-10 years. set up benchmarks for yourself and try and understand the financial procedures from bottom-up.
Warren Buffet started at 16 and he regularly tells people that Finance is about other functions of management too-something that today's financial managers don't seem to understand. He succeeded because he believes in Big Picture investing. There are people in this forum who have absolutely no idea about businesses but want to take up finance as a major? seriously how does that work? I am still unable to figure out. Warren Buffet at 80 "tap dances to work" because he believed in doing what he does everyday as part of fun and he preaches the same to everyone.
Be prepared to slog your beep beep off and read a million books and bring them to practice if you are serious about this which ultimately tests if you really love business as a science and finance as an art or not. That and a billion other little things ofcourse :)
Bottomline-Do this because you love it and if you do then please benchmark yourself, start reading about business a lot along with finance stuff and get a 10 year plan ready.
1) i am planning to do mba after 4 yrs..so i will do job in tech mahindra for 2 yrs as for now i cant get job anywhere else as i am a comp engg..in mean time i will clear cfa level 1 and 2 but will clearing only cfa level 1 & 2 fetch me a job for remaining 2 yrs before going for mba? if not then what should i do? any other idea to move out of IT field in 2yrs.
2)u told me to avoid "IT" space but will u tell me where a comp engg fresher can get jobs at present?any examples.... i am a 2009 passout and no industrial exprience..
anyone please try to answer the questions asked by me in previous post.
1) ACtually as pointed by devilishangel in the above post, its not possible to get into a fin role with just L1 and L2.
2) why dont u try to get into some manufacturing domain? When its possible for civil mechanical etc engineers to go into IT, why not a csc guy to go the other way?
Ppl only see the sweet side of Finance...U should know the Golden Principle in Finance.... " Higher the risk , higher the return" and " Higher the RETURN, higher the RISK "
One of my Prof's friend , a CA CFA , had a cult job in Bank of America , South Asia , had a handsome salary + perks of half a crore per annum. His all friends used to be jealous of him....
But not now....! In this recession , he lost his job and had to sit at home for a year....!
This field is double edged sword....! Those who are active in Share Market know it perfectly.... For all aspirants I tell one thing, try your hands in markets....U will come to know whether this is ur true calling or not....
Now coming to CFA degree....
Legendary Investor, Rakesh Jhunjhunwala once said, I wasted my 4 years doing CA......!!!!!!!
As when he entered the market, he came to know all that bookish gyaan is nothing but a crap....! At that time CFA wasnt popular in India, otherwise he would hv said the same for CFA.... 
Now let me give example of Historical Returns from NYSE from last 15 years....
The Mutual funds in US (handled by so called Professionals like CFAs, MBAs) have actually underperformed the index funds (those comprise of all the securities in the index in same proportion like Sensex fund in India, where no professional brain is required for fund management as its just a mechanical job of investment)
This is perfect example of failure of So Called Professionals...!!!
Now I am myself givin CFA L2 this june...So I must back the degree also..
Education is never wasted....For a person who doesnt know anything in Finance will certainly get a bucket full of knowledge doing it...and in fact CFA L 3 is a very tough nut to crack...!
But dont link it to packages.... All the legends we see in the world have become the legends because they had PASSION for the field....
Love ur education like ur mother, dont value it in terms of money....!
Hey All,
Does anybody know of a booklet that could be downloaded with all the L1 formula's in it - just for quick reference?
Thanks.
@rnm1
CFA Schweser Notes (FREE Download) | BolsaOvejuna
this will help you... download the quick sheet and secret sauce...!!!
Thanks so much @ABCLIKS .... But I saw that the secret sauce and quicksheet is from 2009/8 .. Is there no change in the curricula since then?
I am currently a CA final student and am doing B.Com(A&F;) from IGNOU. I will be getting my B.Com degree in march2011(my 3 years articleship completes in march2011;and entire articleship completes in sept2011); and will be giving my CA final(new) in nov2011.
I am planning to enroll for either CFA or CPA of USA in late 2011 or early 2012.I will also be joining in june 2011 , regular college for mcom or llb.
a)Will i be eligible for CFA/CPA of US?
Suppose, the answer is no; what if i pass CA and then am i eligible.
note: ignou is a distance learning programme.
b)Wont it being correspondence course disqualify me.
Please suggest how should i manage my cfa/cpa exams side by side.
c) Are there other countries in europe,australia who offer CFA internationally recognised.
I dnt knw if this is related to the topic..but am currently dng ma b.com and wll complete this year..I wanna know if i am eligible to take up CFA and i would also like to inform that am not interested in working abroad.
Is CFA suitable for me???
I will write my ICWA inter this december and take ma MBA this year..
Hi,
I have 4 years of experience in Risk management retail bankig. My educational qualification is masters in statistics from IIT.
I want to enhance my qualification in my current domain.Particularly I'm not interested in I bank. Can anybody suggest me whether CFA or CIIA can help me in this regard.
I found CIIA way of exam more interesting as it comprises of both national and international exam.
People may suggest me any other kind of course also.
I thought of executive MBA also (distance) but for that I need to wait for next 2 years.
Eagerly waiting for your valuable suggestions.
If u want to remain in Risk Management domain, then FRM by GARP will certainly help u...
Its a one year program..
For any specific info on this, PM me...
My friend already done FRM and he is saying that it helps only if u want to move to I Bank.
Apart from thatis there any difference between CFA,FRM and CIIA course structure.
My friend already done FRM and he is saying that it helps only if u want to move to I Bank.
Apart from thatis there any difference between CFA,FRM and CIIA course structure.
FRM is for risk management and a commercial bank has such roles rather than I banks.
A dedicated thread on FRM GARP is present in PG
go through that you will get most of your queries answered after going through that and this thread.
If still you have questions feel free to come back
I dnt knw if this is related to the topic..but am currently dng ma b.com and wll complete this year..
I wanna know if i am eligible to take up CFA and i would also like to inform that am not interested in working abroad.
Is CFA suitable for me???
I will write my ICWA inter this december and take ma MBA this year..
can sum1 rply 4 tiz.....:D
I wanna know if i am eligible to take up CFA and i would also like to inform that am not interested in working abroad.
Is CFA suitable for me???
I will write my ICWA inter this december and take ma MBA this year..
can sum1 rply 4 tiz.....
hi guys i am joining 2 year mba course for session 2010-2012 in india.my optons are limited to tier 2 and 3 colleges. i want to do mba in finance.now will doing cfa along with mba be of help.or should i do it after mba. another point which i want to clerify is i have heard that after doing mba finance there is no need to do cfa as they r pretty much equivalent in terms of knowledge. is it so .please clerifys. o what should i do. pretty much confused.
@iimmaterial I will suggest u to start wit cfa simultaneously wit mba...but only if u think u will be able to manage them as u will require dedicated efforts for cfa...
Answer to Q 2.... CFA will certainly be useful to make ur CV attractive as ur gonna do mba from tier 2 or 3 institute....
iimmaterial Sayshi guys i am joining 2 year mba course for session 2010-2012 in india.my optons are limited to tier 2 and 3 colleges. i want to do mba in finance.now will doing cfa along with mba be of help.or should i do it after mba. another point which i want to clerify is i have heard that after doing mba finance there is no need to do cfa as they r pretty much equivalent in terms of knowledge. is it so .please clerifys. o what should i do. pretty much confused.
no , not at all. Even if you opt for Finance as a specialization in your MBA 2nd year , its still nothing compared to the sheer depth of knowledge a CFA provides in terms of finance. Finance in an MBA is more of a scrape the surface kind whereas it is real in-depth in CFA and you learn to apply global financial tools in application based scenario's.
In one line, CFA is for people REALLY intrested in finance.
hi,
b.sc graduate and after that 4 years with no work exp or studies was working in my lands(farming)....now a cfa level 1 candidate..will cfa fetch me any i-banking job after level 2..now searching for job on the basis of ncfm certifications...
i am going right or suggest me please
hi,
b.sc graduate and after that 4 years with no work exp or studies was working in my lands(farming)....now a cfa level 1 candidate..will cfa fetch me any i-banking job after level 2..now searching for job on the basis of ncfm certifications...
i am going right or suggest me please
Getting a Invt Banking job is a matter of luck also....Just clearing L 2 may not help.... But CFA L 3 will enhance the chances considerably...
Getting an Invt Banking Job is a function of Education AND EXPERIENCE....
So I would advice u to work in a Small Firm may be Brokerage Co. and gain experience in Corporate Finance, Equity Research etc.... Plz dont look for Salary here...It may be less....( I would rather sugeest no one in finance field should look for salary....as When I did my CA Interns in a Brokerage Firm...All Employees used to earn 2X of their salaries just through CAPITAL GAINS)...CHERISH UR PORTFOLIO...;)
And after 3-4 years...U can certainly look forward to Investment Banking.....
The major flaw of these huge invt banks is they dont let u trade in ur personal account on their tips...They may give u a 25 L P.A. package but then u may not build ur portfolio and become a much more rich person... 😞 A major flaw that was told by my boss.....!
@abcliks
The major flaw of these huge invt banks is they dont let u trade in ur personal account on their tips...They may give u a 25 L P.A. package but then u may not build ur portfolio and become a much more rich person... 😞 A major flaw that was told by my boss.....!
didnt get this ?