1) Does this 4 year experience have to be recent? Can it be old experience? What if one has 4 years of related workex, but not currently working in the investments area.
Not 100% sure about this, but I think it has to recent and relevant. Not sure what you meant by "old experience". If you're considering it work-ex before clearing L3, perhaps, it may not be considered. What I think is they'll consider the work-ex after one has cleared L3.
2) It is written on the CFA website that you also need 2 sponsors to recommend you for the membership. Do these two need to be from the current / old organizations? Do I need to know them? Please elaborate more on this.
I think it wouldn't matter much if you get sponsors from your previous organization. But it will be better if you get sponsors from your current organization. It shows that you're currently working in the relevant field.
3) Do I need to become a member of the CFA Institute now while apprearing for the exams or after completing all levels? I refer to the membership of $275 that is mentioned on their wesite.
Yes, you need to pay these fees when you enroll for L1. It is mandatory.
4) It is also mentioned that we need to be a member of a local CFA society to be a charterholder. What society is this? and what is the procedure for this membership? Is there a separate fee for this?
They are referring to Indian CFA society. I don't think there is a separate fee for it. Visit the membership page on the website and you'll get an idea.
Nice queries, buddy! Hope my response helped you 😃
1) Does this 4 year experience have to be recent? Can it be old experience? What if one has 4 years of related workex, but not currently working in the investments area. 2) It is written on the CFA website that you also need 2 sponsors to recommend you for the membership. Do these two need to be from the current / old organizations? Do I need to know them? Please elaborate more on this. 3) Do I need to become a member of the CFA Institute now while apprearing for the exams or after completing all levels? I refer to the membership of $275 that is mentioned on their wesite. 4) It is also mentioned that we need to be a member of a local CFA society to be a charterholder. What society is this? and what is the procedure for this membership? Is there a separate fee for this?
There seems to be some confusion in various responses to your query. Please note before you enroll in the CFA Program and register for your first exam you have to meet ONLY the entrance requirements, which are as follows: - Have a bachelor's (or equivalent) degree or be in the final year of your bachelor's degree program at the time of registration or have four years of professional work experience (does not have to be investment related) or have a combination of professional work and college experience that totals at least four years. Part-time positions do not qualify, and the four-year total must be accrued prior to enrollment. If you initially enroll/register as a final year undergraduate student with a degree in progress, you may not register for the Level II exam until you have earned your degree, or obtained professional work experience that meets the program's entrance requirements. At the time your degree is awarded, you may update your account education information to certify that your degree has been received. - You will be asked to sign the Professional Conduct Statement and Candidate Responsibility Statement - Have a valid international travel passport (required for enrollment and exam registration). (For details see http://www.cfainstitute.org/cfaprogram/process/Pages/ becoming_a_charterholder.aspx?intCamp=become_chrtrholder) To earn a CFA charter, you must - Have four years of qualified investment work experience, - Become a member of CFA Institute, - Pledge to adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct, - Apply for membership to a local CFA member society, and - Complete the CFA Program. So, if you are looking forward to do CFA don't be confused by various misleading responses in this thread. As long as you fulfill the educational requirement i.e you are a graduate or in the final year of graduation or have four years professional experience (not necessarily in investment field) and prepared to sign the Professional Conduct Statement and Candidate Responsibility statements, and of course hold a valid Passport ( a must) go ahead and register for the Level 1 in December '12 or June '13 (Level 2 and 3 are held only in June each year!). No essential requirement to become either member of CFAI or the local Society or any sponsorships to clear the CFA exams. Worry about the membership when you reach /clear Level 3 provided you also have the four years experience in investment field by then!
I talked to a couple of charterholders. Here is their response
- The experience may be earlier one also. No problems there. By old, I meant relevant experience earlier to starting the CFA exams. - Sponsors can be any two CFA charter holders - No, we need not pay the membership fees at the time of enrollment. These need to be paid later after clearing L3
Thanks for the helping nature and the link. Now I just need to decide when to appear - Dec or Jun. Wish someone could take the decision for me.
Maybe someone can help me - Say, I appear in Dec and clear (hopefully). Once the results are out in end Jan and we register for Jun L2. Is the period Feb-May enough for L2 preparation?
L3 candidates and charterholders - please advice!
Not 100% sure about this, but I think it has to recent and relevant. Not sure what you meant by "old experience". If you're considering it work-ex before clearing L3, perhaps, it may not be considered. What I think is they'll consider the work-ex after one has cleared L3.
I think it wouldn't matter much if you get sponsors from your previous organization. But it will be better if you get sponsors from your current organization. It shows that you're currently working in the relevant field.
Yes, you need to pay these fees when you enroll for L1. It is mandatory.
They are referring to Indian CFA society. I don't think there is a separate fee for it. Visit the membership page on the website and you'll get an idea.
Nice queries, buddy! Hope my response helped you :)
I talked to a couple of charterholders. Here is their response
- The experience may be earlier one also. No problems there. By old, I meant relevant experience earlier to starting the CFA exams. - Sponsors can be any two CFA charter holders - No, we need not pay the membership fees at the time of enrollment. These need to be paid later after clearing L3
Thanks for the helping nature and the link. Now I just need to decide when to appear - Dec or Jun. Wish someone could take the decision for me.
Maybe someone can help me - Say, I appear in Dec and clear (hopefully). Once the results are out in end Jan and we register for Jun L2. Is the period Feb-May enough for L2 preparation?
L3 candidates and charterholders - please advice!
Good enough time... just see that you manage to take out about 2-3 hours daily on weekdays and slightly longer on the weekends... if working, take 2 weeks leave just before the exam... would be perfectly fine
Good enough time... just see that you manage to take out about 2-3 hours daily on weekdays and slightly longer on the weekends... if working, take 2 weeks leave just before the exam... would be perfectly fine
CFA L3 Candidate
Hello senior......I am a CFA level 1 candidate:grin:......I am interested in Financial Investments that is why I am doing CFA but if you can plz light on the issue of jobs after every level and also on how easy is it to find one?
Thanks in advance amd see to it I am a fresher:grin:
I a Bcom Graduate currently working in a BPO company as the training process owner.
I want to move to the IB/Finance industry - hence, thinking about CFA/CPA.
I recently appeared for the GMAT and scored a 740 (49 Q and 41 V).
Here's my profile: Academics: Bcomm (79%) Work ex: 2 years (non finance)
Would CFA be a good career choice to make considering the fact that a person might endup spending ~3 years in completing all the levels?
What other professional qualification can I pursue in finance, if not CFA?
Cheers, DreemMBA
P.S: I have applied to some B schools; but considering my low and not so stellar work ex, I doubt if I will get through to any of those.
hi there seems we r somewhat in a similar position. I have just completed my graduation and am thinking of sitting for the dec12 exams. what r u currently doing ? have you pursued cfa after all ?
but is there any course or certification that wud give me an extra advantage for my recruitments post mba..?
hii... just read your posts and i feel like the same posts i have written 3 years ago... to make you understand clearly i will tell u that i have completed B.Tech ECE in 2006, and wanted to go to finance field... then thought of MBA...was nice option for me as MBA provides good basics to finance as well as deep sea coverage ..... then after completing MBA i faced a situation where in an interview the interviewer asked me 'why do you think a B.tech candidate is more suitable than a b.com'.......... i asked the same question myself many times.... came up with one asnwer that i need something more like an added star to my qualifications... then came through some websites and found my best star(*) .... financial modeling and financial training.......... this is a course offered to the graduates of any field.. with basic finance knowledge.... this course gives the candidate a new scope towards equity market and companies financial analysis.......... you can find more details from a website hereunder....that is the institute that provides the training to these courses.......hope it will be useful to you....
Hi guys..I am selected for IIMK 2012-2014 .As i have one mnth with me for the course to commence .rather 40 days.I am thinking to try my luck on CFA. Gathering info on the same.Please share something for the same.
Whats the fees for the same? What are the counterpart books of indian author for the same? Is it a wise time to aim for CFA?
hi guys... I m CA and am confused whether to go for CAT in Nov or CFA in Dec... wat would be more beneficial... or Should i go for both... doing MBA would give me wat type of profiles... plz advise...
Hi guys..I am selected for IIMK 2012-2014 .As i have one mnth with me for the course to commence .rather 40 days.I am thinking to try my luck on CFA. Gathering info on the same.Please share something for the same.
Whats the fees for the same? What are the counterpart books of indian author for the same? Is it a wise time to aim for CFA?
You should have registered for CFA by march to sit for June exam .
For fees , check CFA official website .. it should roughly around 1100 $
you can buy schweser notes from xerox shop . check the previous pages of the same thread .. waise , CFA is not an Engg exam to search for local author books
AIM for CFA with some motive.. Ask yourself a question Why CFA before enrolling .. There is no point in writing CFA just to show off in resume
Hi puys.......just a very simple doubt is there anyone or do anyone of you know someone who was not in the financial sector and then did CFA and then came into financial sector????
Hello pguys, I have following few queries 1.consultancy field ( business Development) CFA usefull hai kya..? 2.Could a CFA certi holder get an extra edge while applying for consultancy job in following two scenarios 1.Pre MBA ( after Engnrng) 2.Post MBA (Placements) regards
From CFAI "Critical Exam Day Change Beginning with the December 2012 exam, CFA Program exams will be held on Saturday only. This change ensures that all candidates receive a similar exam day experience and strengthens the security of the CFA Program."
Puys,
On what day of the week is the CFA exam held???
Have there been instances of CFA exam clashing with any other exam (eg mba semester exam), as i would be enrolling in a b-school this year....
Hi puys.......just a very simple doubt is there anyone or do anyone of you know someone who was not in the financial sector and then did CFA and then came into financial sector????
I take offense :) At IIT, most of books are of "firangi" authors.
But I agree, you delivered the point accurately... try to stick to the prescribed readings... that itself is a humungous task !
Hi,I will be starting MBA this year at IIM L.I wish to have Finance as my major in the second year.
I went through CFA material.Read few topics related to Economics,Quantitative modeling etc.But was not sure whether I should do it as it is a huge investment.(Time as well as money...or may be opportunity cost is too high )
Please let me know whether it will be possible to cope up with academic rigour of IIM L & CFA L1 simultaneously.I was thinking of registering for it in the month of July as by that time,I will get some idea about my capacity as well.
What do you think? Other experts also can pour in their opinions.
I gave CFA Level 3 yesterday and would be heading to IIM-Indore next month. So I think I can help you puys giving some reality checks about CFA.
As already mentioned before, - CFA is NOT a magic wand. It is NOT a substitute for MBA. - CFA L1 is okay, even to an extent L2, but there is no point giving CFA to get a job because CFA holds value when you have a relevant work-ex behind your back. - Do NOT even think to pursue CFA if you really lack the passion towards Finance. Course is rigorous, time-taking and difficult. Without a real passion, you may want to give it up mid-way - I was working as a Data Analyst (not relevant to Finance). After clearing L2 last July, when I started applying, I did get calls from Finance companies, but their main focus was my work-ex, not CFA knowledge
So, my piece of advice is, measure all consequences properly before diving into it because CFA will mean a lot of opportunity cost
