Dude becoming a CFA in itself is a very big achievement. know of a lot of guys from my elder bro's college (IIM-I, batch of 2007) who werent able to clear CFA L-1 then.
if you're able to clear CFA you will already be holding a good amount of knowledge..equivalent to MBA fin of IIM-ABC...
dont think that CFA is very easy to clear...
and yeah after clearing CFA in itself..you might not get into I-banks immediately..but sooner or later it would happen (depending on u)..
Very true.
zener diode Says
by going through the previous posts I have formed an idea that CFA is mainly for those who are gunning Investment banks which is only possible if one combines with IIM ABC , again I banks needs stellar acads , so can CFA help any simple graduate with not so stellar acds interested in finance ?
Not correct, Do CFA L-1, L-2, L-3 and then apply to places. Sooner or later you will get the position you want. Also look at stuff like FRM.
What helps? A degree in Financial Engineering Helps, VBA Finance Engineering helps.
About stellar and non-stellar, iim-a-b-c or not. It all depends on the fact that are you looking at all of this in terms of education or not?
CFA and FRM give you more knowledge then a MBA in Finance does in terms of pure finance intelligence. Welcome to the Open Market. If you have knowledge and you know how to advertise it then buyers will be there for you. Don't worry about that, gain skills and knowledge. that should be your primary motive.
Be practical and know how to show what knowledge you have. Just having knowledge won't help anymore.
By the way, Do you just want to work for a company or do you think someday you will have enough knowledge to bet your own money on the education and knowledge that you have garnered over time?
The best or private equity investors have to invest a lot of their personal money to get into private equity. If you are really good in Financial Investment, and increasingly so in the new era, you will not work for a big corporation but will work for a small firm or your own private equity firm. Why? Financial Remuneration (salary-benefits) is about 25:1 for the best investment analysts in favour of private equity vs the big banks.
nishantvdo Says
sorry if i sound naive...but can CFA be practically done alongwith an MBA??...i am interested in finance...
It can practically be done if you want to do it and ofcourse it will require more dedication. The trouble is most of the CFA based stuff willbe taught to you in the 2nd year so you can only take the test in December (during your placements) at best or July after your placements are done.
CFA charter is not an option for anyone looking into very serious investment finance, its a necessary thing. The same holds true for FRM is you are a risk evaluator or risk investment professional. I say this hoping the fact that its not just the job you want but the knowledge and long-term growth prospects in mind.
Also, please oh Please don't do CFA/FRM stuff from anywhere else but from the CFA International Institute and GARP International Institute. No other degree will have any long term value.
Its not without reason that The Economist along with many other people and financial critics call the International CFA as the Gold Standard in Investing Education
.
The other easier/cheaper way out of a CFP is the CFP but remember that CFP is multi-centric and not just Investment centric. CFP is also easier than CFA.
Also, To be honest, From what I have checked from the US finance Industry, It seems that CFA holds way more respect than an MBA in the investment field because the reasons for doing both are very different, although that is something which people don't realise.