Thanks sanjaysurana90 for the prompt reply.
Your status showing you are from banglore
are u already doing cfa level 1 in dec 2011
how you are preparing for the same...
Thanks sanjaysurana90 for the prompt reply.
Your status showing you are from banglore
are u already doing cfa level 1 in dec 2011
how you are preparing for the same...
Hi SGM87
Yup i am from Bangalore. I Have just written my level1 exam on this 5th June....
Thanks
Thanks sanjaysurana90 for the prompt reply.
Your status showing you are from banglore
are u already doing cfa level 1 in dec 2011
how you are preparing for the same...
I started with Preparations 1 month ago, and have been looking at the entire curriculum.
I think that first area which I can do quickly is Quantitative, then i will do Fixed Income, then Derivaties, and I am going to do the touger areas like FSA and Ethics with some friend or a teacher.
I found FSA quite tough to comprehend, so i think it will take time. Economics is large but easy and like a tale....
Hey shivgan99,sanjaysurana90
can i get to know from where you are studying ,any soft copies of stalla,shewser, or any other notes or from textbook.
If any soft copies of books please do send the same on my email id ,i have already pm you.
If textbooks indian versions are available please do tell me from where i can get it in nasik, pune or mumbai.
I dont want to waste 30k or more on only books ,please do suggest cheap route.
Thanks in advance
Hey naga25french,
I will be pursuing my mba in international business, and would want to move into the fin sector.
I hv an engineering background. Would clearing CFA level 1 land me into some relevant interships
Hey shivgan99,sanjaysurana90
can i get to know from where you are studying ,any soft copies of stalla,shewser, or any other notes or from textbook.
If any soft copies of books please do send the same on my email id ,i have already pm you.
If textbooks indian versions are available please do tell me from where i can get it in nasik, pune or mumbai.
I dont want to waste 30k or more on only books ,please do suggest cheap route.
Thanks in advance
OH ONE MISTAKE I COMMITED :shocked:
FORGOT TO TELL FOR WHICH EXAM I NEED MATERIAL WELL ITS FOR CFA USA LEVEL 1 EXAM.
REQUESTING ALL PGUYS TO POST SOME INFO ABOUT EXAM MATERIAL FOR YEAR 2011.
Hey naga25french,
I will be pursuing my mba in international business, and would want to move into the fin sector.
I hv an engineering background. Would clearing CFA level 1 land me into some relevant interships
Hi,
MBA Finance would hav been a better match. Anyways, CFA level 1 is quite basic with no numerical and tough problems. Most of people get the CFA L1 done, but CFA level 2 is going to help you a lot. So pass both the levels by June 12.
Best,
Shivgan
Hey naga25french,
I will be pursuing my mba in international business, and would want to move into the fin sector.
I hv an engineering background. Would clearing CFA level 1 land me into some relevant interships
it depends on your educational BG as well as work ex as well..
since you will be an mba(IB) , CFA L1 will increase your chances
as shivgan pointed out , MBA finance would have increased your chances further
The summer examination is over and time for another season of CFA registrations for December. 
For the fellow puys registering for higher levels (L2 and beyond), you would already be aware of the market value and the issues involved in the pursuit of the CFA program. If not, then it's something to worry about! :nono:
I would request fellow puys not to blindly follow the herd. India has been swept away by something like a CFA wave and to cash in on that, there are some stupid institutes ready to offer you coaching as well. And people dream of getting into I-Banks and believe that there is some kind of a "salary range" for "each level". Be assured, all parties except the candidates are minting money and you're being fooled in all this.
In fact, even the CFA curriculum has nothing to do with Investment Banking. L1 is just basic concepts, L2 is about equity and derivatives pricing and valuation basics and L3 is about asset management. I-Banking is nowhere in the picture. If you're looking for learning something about quantitative finance, CFA has almost nothing there as well except for the most basic fundamentals.
The summer examination is over and time for another season of CFA registrations for December.
For the fellow puys registering for higher levels (L2 and beyond), you would already be aware of the market value and the issues involved in the pursuit of the CFA program. If not, then it's something to worry about! :nono:
I would request fellow puys not to blindly follow the herd. India has been swept away by something like a CFA wave and to cash in on that, there are some stupid institutes ready to offer you coaching as well. And people dream of getting into I-Banks and believe that there is some kind of a "salary range" for "each level". Be assured, all parties except the candidates are minting money and you're being fooled in all this.
In fact, even the CFA curriculum has nothing to do with Investment Banking. L1 is just basic concepts, L2 is about equity and derivatives pricing and valuation basics and L3 is about asset management. I-Banking is nowhere in the picture. If you're looking for learning something about quantitative finance, CFA has almost nothing there as well except for the most basic fundamentals.
Hey thank you for the insight, then what is in your view the path to investment banking?
Is FRM better than CFA for investment banking?
What is the path to get in Quantitative Finance?
Is the only path a M Stat from ISI?
Or the path to go in Quant Fin starts out of India?
If CFA all levels are the most fundamntal, for a non finance background is it not something to start with?
What does your experience says about the market value of CFA?
What do you believe is the salary range for CFA level 3 cleared person + MBA from any top 100 College of India?
please answer these questions, thanking you in advance
The only high-probability path to investment banking is through an MBA. CFA alone can almost never lead you to investment banking. And at an MBA too, only the top-notch IIMs (as far as India is concerned) - read A/B/C and L at the maximum. First of all, be assured that there are hardly any real front-end investment banking operations in India and most of the work is back-end. I've heard that SBI offers proper IB (front-end) profiles in the IIMs, but they pay only 6-7 lpa.
Even at A/B/C, there is absolutely no guarantee that you're going to get a so-called "i-banking" profile. The competition is really tough and unless you are {from the IITs with a good JEE rank and with preferably some experience in analytics} OR {you're a hot female} you cannot crack the summers, and the final placements are mostly dependent on the summers, but here the latter factor doesn't count 
.
Progress in CFA gives an IITian (or other good Engg. college alumni) an edge over others, nothing more. Even then he can screw up in the interview.
In the light of all this, I am assuming that you know what "investment banking" means. :drinking:
For your specific questions:
1. No, FRM has almost nothing to do with i/b. It's more about risk and its various types. Guys in credit profiles can also go for it. But it's damn tough, much more than L1 or even L2. The happy part - you can take it in two parts now, and the pass rates are >50%. So a bad paper can lead to a pass but that will never happen in CFA. In CFA, in fact the reverse can happen (i.e. even a good paper can lead you to a fail)
2. MS in QF from abroad (best), or campus placements at IITs (only for CSE/EE people). However as a general rule, a profile abroad will almost always be better than a Mumbai/Bangalore posting from the IITs.
I think that ISB has also started something at CAF, but no idea about its placements.
3. I have no idea about placements at ISI. But if I-banks go there for placements, a good bachelors' background (again IITs/other good Engg. colleges) would be of help. But in all likelihood, I-banks would be picking up for their quant profiles from there.
4. "Top 100 MBA" colleges in India is nothing. If you graduate from Baba Ram Chand College of Management from Kanpur, an L3 is going to get you nowhere. In fact I wonder if recruiters might ask you what you're doing there with an L3. :drinking:
5. CFA is not supposed to make you a specialist in a particular area, even though it is somewhat geared around Equity and Asset Management. It only gives you an edge at campus placements. Therefore, its market value is there only in a particular setting and there is no general market value for it.
Ask yourself why people opted to go for CFA. The reason was because it gave you an edge few years ago, when most people did not know about it. Currently, L1 candidates are surely running into tens of thousands and several thousand of those are clearing L1. L2 cleared would also be into a few thousands. Even if a company were to consider someone on that basis, they would look for IITians. But the problem is that now even within IITians, there are thousands of IITians with L1 and several hundreds with L2. A hearsay said that for one position at Nomura, those guys get more than 8000 resumes.
The only scenario where you can land up in a GOOD position (by good I mean decently paying- nothing to do with the actual work) without an MBA would be when you're a CSE/EE graduate from the IITs with
Hey thank you for the insight, then what is in your view the path to investment banking?
Is FRM better than CFA for investment banking?
What is the path to get in Quantitative Finance?
Is the only path a M Stat from ISI?
Or the path to go in Quant Fin starts out of India?
If CFA all levels are the most fundamntal, for a non finance background is it not something to start with?
What does your experience says about the market value of CFA?
What do you believe is the salary range for CFA level 3 cleared person + MBA from any top 100 College of India?
please answer these questions, thanking you in advance
The only high-probability path to investment banking is through an MBA. CFA alone can almost never lead you to investment banking. And at an MBA too, only the top-notch IIMs (as far as India is concerned) - read A/B/C and L at the maximum. First of all, be assured that there are hardly any real front-end investment banking operations in India and most of the work is back-end. I've heard that SBI offers proper IB (front-end) profiles in the IIMs, but they pay only 6-7 lpa.
Even at A/B/C, there is absolutely no guarantee that you're going to get a so-called "i-banking" profile. The competition is really tough and unless you are {from the IITs with a good JEE rank and with preferably some experience in analytics} OR {you're a hot female} you cannot crack the summers, and the final placements are mostly dependent on the summers, but here the latter factor doesn't count.
Progress in CFA gives an IITian (or other good Engg. college alumni) an edge over others, nothing more. Even then he can screw up in the interview.
In the light of all this, I am assuming that you know what "investment banking" means. :drinking:
For your specific questions:
1. No, FRM has almost nothing to do with i/b. It's more about risk and its various types. Guys in credit profiles can also go for it. But it's damn tough, much more than L1 or even L2. The happy part - you can take it in two parts now, and the pass rates are >50%. So a bad paper can lead to a pass but that will never happen in CFA. In CFA, in fact the reverse can happen (i.e. even a good paper can lead you to a fail)
2. MS in QF from abroad (best), or campus placements at IITs (only for CSE/EE people). However as a general rule, a profile abroad will almost always be better than a Mumbai/Bangalore posting from the IITs.
I think that ISB has also started something at CAF, but no idea about its placements.
3. I have no idea about placements at ISI. But if I-banks go there for placements, a good bachelors' background (again IITs/other good Engg. colleges) would be of help. But in all likelihood, I-banks would be picking up for their quant profiles from there.
4. "Top 100 MBA" colleges in India is nothing. If you graduate from Baba Ram Chand College of Management from Kanpur, an L3 is going to get you nowhere. In fact I wonder if recruiters might ask you what you're doing there with an L3. :drinking:
5. CFA is not supposed to make you a specialist in a particular area, even though it is somewhat geared around Equity and Asset Management. It only gives you an edge at campus placements. Therefore, its market value is there only in a particular setting and there is no general market value for it.
Ask yourself why people opted to go for CFA. The reason was because it gave you an edge few years ago, when most people did not know about it. Currently, L1 candidates are surely running into tens of thousands and several thousand of those are clearing L1. L2 cleared would also be into a few thousands. Even if a company were to consider someone on that basis, they would look for IITians. But the problem is that now even within IITians, there are thousands of IITians with L1 and several hundreds with L2. A hearsay said that for one position at Nomura, those guys get more than 8000 resumes.
The only scenario where you can land up in a GOOD position (by good I mean decently paying- nothing to do with the actual work) without an MBA would be when you're a CSE/EE graduate from the IITs with
Thank you, this has been a very comprehensive reply. I appreciate your efferts and time. I would be very grateful if you can provide insight on a few more subjects:
1) There are only 500 charter CFA holders in India, and all are doing good, so how can a person clearing CFA L3 and working for 4 years cannt find a good position after getting the CFA designation?
2) Ofcourse MS Financial Engineering or MBA is a must, but should someone clear CFA L2 and then do MS financial Engineering?
3) Demand and supply might suggest that IIM-ABC wants a high pay if someone with MBA from not a top college with CFA and FRM can do the same job in 1/2 the amount why will company not take him? IIM ABS are not demi-Gods, they are consistantly hardworking persons though and they will not settle for a salary less than 15-20 lac in India.
4) Being in IIT Grad in no case related to this discussion its is all about how good you are at Finance esp quant and stat. So how do u say IIT Engg grad will jump into finance and CFA+MBA will not (Good college are there like XLRI, SPJain, and other private ones)? I dont understand the comparison of CFA level 2/3 clearant with an IITian, this is finance so how can IIT Grad directly jump in this area?
5) If you believe that FRM is tough, it is obvious that it is tough for all, and with the tougness and less people it is a useful exam if one wants to go in risk. Then how can that exam be downplayed?
6) CFA level 3 + FRM level 2 people are very less and also CFA degisnation holders are quite less; I dont think after doing both one will have any problem when he has a good MBA and knows the concept well. And the path starts from Level 1&2 so why not move in this direction?
7) ISI is the best college for Quantitative and Statistics in India, so I believe the best Math and Stat with economics goes on that place, IIT dont stand in that regard. Though IITs Applied Math courses are brilliant.
8 )In a long term its about knowledge and skills, CFA seems to be a good exam to learn with the best material a superb community, so does it not seems to be only way ahead?
For Seniors:
Please comment on FRM for Investment banking?
Comment on the number of CFA Level 3 and CFA desig holders in India. I think level 1 holders are very very common, just wondering on L3 and CFAs.
Comment on CFM l3 + Frm l2 candidates
Thank you, this has been a very comprehensive reply. I appreciate your efferts and time. I would be very grateful if you can provide insight on a few more subjects:
1) There are only 500 charter CFA holders in India, and all are doing good, so how can a person clearing CFA L3 and working for 4 years cannt find a good position after getting the CFA designation?
2) Ofcourse MS Financial Engineering or MBA is a must, but should someone clear CFA L2 and then do MS financial Engineering?
3) Demand and supply might suggest that IIM-ABC wants a high pay if someone with MBA from not a top college with CFA and FRM can do the same job in 1/2 the amount why will company not take him? IIM ABS are not demi-Gods, they are consistantly hardworking persons though and they will not settle for a salary less than 15-20 lac in India.
4) Being in IIT Grad in no case related to this discussion its is all about how good you are at Finance esp quant and stat. So how do u say IIT Engg grad will jump into finance and CFA+MBA will not (Good college are there like XLRI, SPJain, and other private ones)? I dont understand the comparison of CFA level 2/3 clearant with an IITian, this is finance so how can IIT Grad directly jump in this area?
5) If you believe that FRM is tough, it is obvious that it is tough for all, and with the tougness and less people it is a useful exam if one wants to go in risk. Then how can that exam be downplayed?
6) CFA level 3 + FRM level 2 people are very less and also CFA degisnation holders are quite less; I dont think after doing both one will have any problem when he has a good MBA and knows the concept well. And the path starts from Level 1&2 so why not move in this direction?
7) ISI is the best college for Quantitative and Statistics in India, so I believe the best Math and Stat with economics goes on that place, IIT dont stand in that regard. Though IITs Applied Math courses are brilliant.
8 )In a long term its about knowledge and skills, CFA seems to be a good exam to learn with the best material a superb community, so does it not seems to be only way ahead?
For Seniors:
Please comment on FRM for Investment banking?
Comment on the number of CFA Level 3 and CFA desig holders in India. I think level 1 holders are very very common, just wondering on L3 and CFAs.
Comment on CFM l3 + Frm l2 candidates
Hey shivgan99, i read a couple of articles on CFA and investment banking, minght help.
Stuff Investment Bankers Don't Like: The CFA, Your Activities, Your Ph.D., and More Mergers & Inquisitions
The CFA and Investment Banking Mergers & Inquisitions
now this is what am worrying about cfa becoming more common and net impact of this in the future.
Considering my case i really need help from all expert pguys on cfa aimr.
Lets get some clear opinion on my case.
Done with my mba finance.
Well currently am working at managerial position in bank current package 4.5 lacs expected to grow at 8 lacs in these four years.
So do mba fin + cfa charter + 4 years exp in general banking give me some kinda edge over the others.
What do you think guys package am getting then,10 + or not ,if its the thing that i had to again start with low package in year span of 5 to 10 years it will benefit me or not.........
Expert opinions do wanted from you guys, as you had made decision to go for cfa after considering time ,money value and future,do suggest your opinions
thanks in advance.
Considering my case i really need help from all expert pguys on cfa aimr.
Lets get some clear opinion on my case.
Done with my mba finance.
Well currently am working at managerial position in bank current package 4.5 lacs expected to grow at 8 lacs in these four years.
So do mba fin + cfa charter + 4 years exp in general banking give me some kinda edge over the others.
What do you think guys package am getting then,10 + or not ,if its the thing that i had to again start with low package in year span of 5 to 10 years it will benefit me or not.........
Expert opinions do wanted from you guys, as you had made decision to go for cfa after considering time ,money value and future,do suggest your opinions
thanks in advance.
now this is what am worrying about cfa becoming more common and net impact of this in the future.
Considering my case i really need help from all expert pguys on cfa aimr.
Lets get some clear opinion on my case.
Done with my mba finance.
Well currently am working at managerial position in bank current package 4.5 lacs expected to grow at 8 lacs in these four years.
So do mba fin + cfa charter + 4 years exp in general banking give me some kinda edge over the others.
What do you think guys package am getting then,10 + or not ,if its the thing that i had to again start with low package in year span of 5 to 10 years it will benefit me or not.........
Expert opinions do wanted from you guys, as you had made decision to go for cfa after considering time ,money value and future,do suggest your opinions
thanks in advance.
For a MBA in Finance CFA is the best thing to do, as he cannot do MBA again. So in a way thats the only way ahead.
For people who have not done MBA and want to do like MS in Fin Engg / PhD in Engg / MBA from abroad CFA L3 clearing will be helpful.
Dont expect a job out of clearing level 3, this isnt a classroom course. A full time 2 year degree program cannot match this course. The discussions with teacher students in our full time classes, internship, classroom training, internship cannot be compared with CFA which is just 6 hour exams 3 times.
If you clear level 3 and by the time u do that it will be June 2013 I am sure you will be able to touch 10 lack from 2014 (as you will get the charter due to 4 year exp in finance). Now I am not expert but this is my estimation, .
Best of luck!
1. How many of those charterholders are non-MBAs? Moreover, if you're already in the profession, obviously then CFA is going to be of some value, if not nothing. But I doubt if it would be as much as a value-add as an MBA.
2. Yes that is a better path perhaps.
3. It's all about alumni currently working at the banks. Brand-building made it sure that those banks go to ABC. And a couple of lakhs means nothing to them, think in dollars. They want to make sure that they have a person of extraordinary calibre, that's it.
4. It's about being JEE cleared. The brand value of IIT is built upon JEE and your JEE rank. It has nothing to do with knowledge in finance, but people assuming that the top CSE/EE guys at IITs are capable of doing anything. Again you're talking logic, but in the market things are driven by market sentiment and not necessarily logic.
5. It's because it's just one exam and not many employers know about it yet. It's just about cramming up theory and models, and concept-wise FRM is not very useful. The Schweser notes are extremely dense and if you wish to understand everything you need an year to prepare; otherwise you can cram it up within 3 months.
6. Check out the co.s that appear at your MBA college. If they're good, then it's a good profile, else again it doesn't mean much on its own. The reason being: employers don't have much time in their off-campus placements, and the guys who join from campus rarely leave because these are the best jobs in the market in terms of money.
7. Yes ISI is specifically stats oriented, but please check out the placements.
8. True, but only if you are settled in the profession. Else not.
Thank you, this has been a very comprehensive reply. I appreciate your efferts and time. I would be very grateful if you can provide insight on a few more subjects:
1) There are only 500 charter CFA holders in India, and all are doing good, so how can a person clearing CFA L3 and working for 4 years cannt find a good position after getting the CFA designation?
2) Ofcourse MS Financial Engineering or MBA is a must, but should someone clear CFA L2 and then do MS financial Engineering?
3) Demand and supply might suggest that IIM-ABC wants a high pay if someone with MBA from not a top college with CFA and FRM can do the same job in 1/2 the amount why will company not take him? IIM ABS are not demi-Gods, they are consistantly hardworking persons though and they will not settle for a salary less than 15-20 lac in India.
4) Being in IIT Grad in no case related to this discussion its is all about how good you are at Finance esp quant and stat. So how do u say IIT Engg grad will jump into finance and CFA+MBA will not (Good college are there like XLRI, SPJain, and other private ones)? I dont understand the comparison of CFA level 2/3 clearant with an IITian, this is finance so how can IIT Grad directly jump in this area?
5) If you believe that FRM is tough, it is obvious that it is tough for all, and with the tougness and less people it is a useful exam if one wants to go in risk. Then how can that exam be downplayed?
6) CFA level 3 + FRM level 2 people are very less and also CFA degisnation holders are quite less; I dont think after doing both one will have any problem when he has a good MBA and knows the concept well. And the path starts from Level 1&2 so why not move in this direction?
7) ISI is the best college for Quantitative and Statistics in India, so I believe the best Math and Stat with economics goes on that place, IIT dont stand in that regard. Though IITs Applied Math courses are brilliant.
8 )In a long term its about knowledge and skills, CFA seems to be a good exam to learn with the best material a superb community, so does it not seems to be only way ahead?
For Seniors:
Please comment on FRM for Investment banking?
Comment on the number of CFA Level 3 and CFA desig holders in India. I think level 1 holders are very very common, just wondering on L3 and CFAs.
Comment on CFM l3 + Frm l2 candidates
@ all- great thread
After reading the posts till few back pages, couldnt find my query solved.
Complete my MBA last year in Marketing-Operations and got a decent job with an Indian Bank with decent package of 6 L+ but in Sales & Marketing. Now what a prospect for a guy like me doing a CFA L1,L2 , Clearing till next academic year........and how are marketing people really accpeted??
OH ONE MISTAKE I COMMITED :shocked:
FORGOT TO TELL FOR WHICH EXAM I NEED MATERIAL WELL ITS FOR CFA USA LEVEL 1 EXAM.
REQUESTING ALL PGUYS TO POST SOME INFO ABOUT EXAM MATERIAL FOR YEAR 2011.
Pleas check your inbox.. Have sent you the material.
Hello All,
After reading almost all the posts i find my query a bit 'absurd'...but i am thinking of starting my preps for the CFA-1 exam from the 8th semester itself (currently i am in the 7th sem)....what do you guys think??
and i would also like to know about the various courses on offer by the BSE-India...
thanks in advance...