@harrypotter24 your post is discouraging to the core for people like me who are avg. commerce grads... CA is for people who like accounting and stuff which is boring as hell... CFA is for those who want to get into investment banking and asset management.. the subjects are quite interesting... CFA + FRM is a very good combination... after all CFA is globally recognised.. and meanwhile if one can get an MBA from a somewhat ok college, it's not a bad idea at all.. not evryone can be a 90+ percentiler.. the world consists of all kinds of ppl..
@sb101 said:@harrypotter24 your post is discouraging to the core for people like me who are avg. commerce grads... CA is for people who like accounting and stuff which is boring as hell... CFA is for those who want to get into investment banking and asset management.. the subjects are quite interesting... CFA + FRM is a very good combination... after all CFA is globally recognised.. and meanwhile if one can get an MBA from a somewhat ok college, it's not a bad idea at all.. not evryone can be a 90+ percentiler.. the world consists of all kinds of ppl..
but to be a CFA holder you need to have 4 years work-ex of very good profile...which u vl get from top 10 or 20 bschools..else after CFA level 3 if you dont have 4 years of work ex with high profile post,then no chartered certificate you vl get...what harrypotter24 had told is absolutely right....rest you can do research of your own about CFA...and CA vs CFA has been quite complicated...CA is accounting section but CFA is financial section...no interlink between BCom and CFA...but CA passout guy can clear CFA L1 with 15 days prep...hope it helps
@sb101 said:@TONYMBA a lot of ppl get investment banking jobs without having a CFA or an MBA..
how...IB job w/o MBA or CFA for an Indian citizen 
..put some more light on this...in present scenarios...i highly doubt it
..put some more light on this...in present scenarios...i highly doubt it
@sb101 I am a commerce grad too. I have cleared CFA level 1 in first attempt. Later when i attended interviews every single person asked me what is CFA. Getting into investment banking and asset management depends on work experience. Apologies if the post was discouraging. I am just like you. But realized that instead of putting in even more hard work for CFA should have concentrated on CAT. Plus i am sure even a Symbi/ximb/tapmi MBA is enough to get you into the profiles mentioned by you. Also i did ask ppl to go for CFA once they are done with a CA/MBA. But anyway my apologies to you.
@TONYMBA i have seen some people get entry level jobs right aftr graduation which will definitely be counted as work ex required to get CFA charter... am not saying it's easy.. u have to network like crazy and be patient.. but its not impossible... that's all am saying..
@harrypotter24 apology accepted :P.. i knw that CFA is not a golden ticket for a very high profile job... but it will definitely open some doors... not everyone can get an MBA from a top tier college...
PEACE :)
@harrypotter24 said:A post dedicated to Puys wanting to know more about CFA and also about entering the finance industry, specific to India alone. Also when i refer to MBA it pertains only to the top 20 institutes alone.The bitter truth for most of us is that CA and MBA are the only two avenues to succeed in the finance industry. CA: CA is undisputed the best way to succeed and dominate the finance field. Rank holders and first attempt (CPT,IPCC and Final) candidates are always favored. ICWA and CS do have their niche area of excellence, however in terms of pay or breadth of opportunities, fall behind CA. A CA combined a CFA or MBA is a deadly combination in the investment or related industries.MBA: MBA from top 10 colleges (older IIMs,XLRI,FMS,SPJIMR,MDI,NMIMS) is an excellent way to pave your career in finance. You have a plethora of options if you graduate from these colleges.For students graduating from Colleges ranked 10-20 (eg: SIBM,XIMB,SCMHRD,IIFT), the options are definitely as wide as the top 10, however they do have the opportunity to switch over to better profiles after a few years of experience. CFA: If you do not have the above two (Assuming you are not an IITian), it is impossible to succeed in the finance field. Finance is a very qualification driven profession. Not a single profile will ask for CFAs. However every single profile will either desire for an MBA or a CA.BOTTOM LINE: Start with CFA only if you are already are a CA or a top 20 B school graduate or an IITian. A quick search on linkedin of successful finance professionals in top companies will show most of them having CFA. However this is misleading. As most of them got into those positions more importantly due to the above mentioned qualifications rather than just a CFA.For engineers: Focus on MBAFor commerce students pursuing professional courses: Focus on CA. If not CS/ICWA.There are exceptions to every case presented above and in life too. Soo kindly refrain from any disagreements ,as no advice can be free from errors. Thank You.
@sb101 said:@harrypotter24 your post is discouraging to the core for people like me who are avg. commerce grads... CA is for people who like accounting and stuff which is boring as hell... CFA is for those who want to get into investment banking and asset management.. the subjects are quite interesting... CFA + FRM is a very good combination... after all CFA is globally recognised.. and meanwhile if one can get an MBA from a somewhat ok college, it's not a bad idea at all.. not evryone can be a 90+ percentiler.. the world consists of all kinds of ppl..
@harrypotter24 said:@sb101 I am a commerce grad too. I have cleared CFA level 1 in first attempt. Later when i attended interviews every single person asked me what is CFA. Getting into investment banking and asset management depends on work experience. Apologies if the post was discouraging. I am just like you. But realized that instead of putting in even more hard work for CFA should have concentrated on CAT. Plus i am sure even a Symbi/ximb/tapmi MBA is enough to get you into the profiles mentioned by you. Also i did ask ppl to go for CFA once they are done with a CA/MBA. But anyway my apologies to you.
Harry Potter has said the right thing, it may sound harsh but its absolutely right. I have been associated with placement related activities earlier and the case is very true.
what @sb101 has seen must be from places like top 10 undergrad schools in India with Business Management, Finance, Economics, Commerce, Math and Statistics as a Function, along with Older IITs only. Even if you consider that as the case, the number of people who get through would be very very small.
But the CFA charter is not the problem...no one really checks a lot of it...infact I know people who have almost faked the work-ex in one way or the other, which is unfortunate but true.
what @sb101 has seen must be from places like top 10 undergrad schools in India with Business Management, Finance, Economics, Commerce, Math and Statistics as a Function, along with Older IITs only. Even if you consider that as the case, the number of people who get through would be very very small.
But the CFA charter is not the problem...no one really checks a lot of it...infact I know people who have almost faked the work-ex in one way or the other, which is unfortunate but true.
The perfect profile for IB roles is Top 10 Undergrad school specialising in Commerce, Finance, Business, Math, Stats, Economics etc + (CA would be great) + Top 20 B-school + CFA (not FRM-although getting one is not bad) / The alternate is Older IITs + Top 20 B-school + CFA. Thats about it. CFA is the Cherry on top for IB in India, this is not the case outside of India though. CFA is sometimes favoured over MBA outside for IB roles in some cases but even there pedigree (which is largely based on what colleges you passout from) is a very huge selection criteria. Infact even if you get through a top 20 b-school and you don't have the right background, it will be pretty tough to crack through IB/PE interviews - the odds will be hugely stacked up against you and you may not even be shortlisted to present your case. Thats the way it goes.
what can @sb101 do is go to some small time Indian IB/Financial Research loving firms and ask for a job once you have something solid on your CV, at a very less CTC or even as an Intern. Then you can grow later but yeah, the top 20 MBA is almost a must to grow today. Tough fact but you will have to accept it. Just check out any job site or linkedin profiles to check the same.
@ambitiousviolet said:hi all, i am 21 years old from Mumbai, have done my bachelors in management studies(B.M.S.). i gave MBA entrance last year but couldn't get a call so i am now confused whether to give MBA or not .alsoi am looking forward to give cfa(us)-l1 in dec.i am good in accounting and maths.i have a few queries if someone could help me out1> i want to enter into BFSI sector but am not sure of the path ( like banking or investment/ stock markets sector) since not much aware about finance in depth.so if i pursue cfa will i land up in only investment institutions,mutual funds etc or can i expect to get a decent job in banks too?also if i get which position i can get?2> if i drop the idea of mba ,and pass all 3 levels of cfa can i get a good job at par with that what mba guy gets? if i go for mba (finance) will cfa help me ? 3> also i like to trade and analyse stocks, i have heard about equity research and corporate finance,i don't know much about it though,but will cfa help me to get into it also?4> also after cfal-1 or l-2 can i get a job? even in banks?
you need to learn more about
1) finance
2) job market before you take any plunge
please do enough research before you take any decision. you are at a juncture of life which may change your future for better or worse, kindly use this time to research a little bit before you do anything stupid.
@milindaim4iim said:Plaese i have some doubts regarding the CFA. I m very new on this topic so please some 1 clarify my doubts1. I have done my engineering and working in an MNC IT firm for last 27 months. 2. I am very much interested in finance. hope to get into good indian B school this year or in worst case next year.Now my question regarding CFA isAs i have 0% knowledge in finance.(the only gud thing is m very good in maths and anlytical reasoning). Whether i should go for an MBA with a CFA level 1 certification or should i go after doing an MBA in finance ?As chances of getting into good bschool this year is very bleak so i will be appearing for CAT in 2013. my acads is not that good. so to get into top bschool i need to have some finace certification. I m already cleared 2-3 module of NCFM.Please suggest a right approach for me now ?
no one is going to give any value to ncfm certification. its good for basic knowledge but thats about it.
get cfa levels cleared as fast as you can and then get through a good b-school. also if possible shift internally in your company or some other firm where you can gain some bit of financial knowledge.
get cfa levels cleared as fast as you can and then get through a good b-school. also if possible shift internally in your company or some other firm where you can gain some bit of financial knowledge.
Dear All,
I am an MBA (Fin) from K.J. Somaiya Instiyute, Mumbai. I am already working with a TATA company in a decent finance profile. I feel it is not adequate enough to be an MBA since we lack knowledge of accounting and taxation and hence would be at a disadvantage in future as compared to CAs. I am already 26 yrs old. Please advise should i take up CA or CFA (even i dont want portfolio management kind of jobs) to withstand competition from CAs...
@Ridhz If you do not want portfolio management kind of a role then CFA wont be of much use. Moreover, taxation and accounting(only superficially is covered) are not covered in CFA. Moreover, for doing CA 3 years of articleship is compulsor, for which you will have to leave your job. Both CFA and CA are not advisable. I would recommend ICWA, if you want to do it from knowledge gaining perspective. It contains complete and in depth coverage of Finance. Moreover, the 3 years of articleship under ICWA is exempted if you are working in a finance related profile. Kindly check the list of exempted profiles from the ICWAI website.
Hi Folks...Need some serious career guidance. Male engineer from tier-1 engineering college and 21 months work ex in HCLTech. Wanted to do MBA so landed up in tier-2 B-schools (screwed CAT and XAT ). Now i am in 3rd sem and i am going to opt for finance. Being a student from Non-Finance background, would any kind of certifications like CFA or FRM would help me to get job in IT company as I want to go back to IT company only. Guys please give me some suggestions.
Hi, I am an engg grad. and working for a small start-up. I will be joining a bank within a couple of months as probationary officer. After one and half years, I intend to sit for MBA exams (couple of years ago I sat for CAT, XAT and others, didn't make it to any top 10-15 bschools, so left the other offers). Now the thing is I want to learn about finance and want to do some course or certification. I have heard that CFA is good and will be a good for learning process.
Now my questions are,
1. Should I go for CFA? I mean is it crackable by an engg grad?
2. If yes, then should I target only level 1?
3. How much help does CFA do to an Indian MBA grad?
4. If I do not make it to any top Indian bschools, I have long term plans in my mind to go for GMAT and target the international MBA. How much help CFA will do to that? Is it recognised globally?
@leolazer @DEVILISHANGEL @harrypotter24 @TONYMBA Please give your suggestions. :)
@banu2312 said:Hi, I am an engg grad. and working for a small start-up. I will be joining a bank within a couple of months as probationary officer. After one and half years, I intend to sit for MBA exams (couple of years ago I sat for CAT, XAT and others, didn't make it to any top 10-15 bschools, so left the other offers). Now the thing is I want to learn about finance and want to do some course or certification. I have heard that CFA is good and will be a good for learning process.Now my questions are,1. Should I go for CFA? I mean is it crackable by an engg grad? 2. If yes, then should I target only level 1?3. How much help does CFA do to an Indian MBA grad? 4. If I do not make it to any top Indian bschools, I have long term plans in my mind to go for GMAT and target the international MBA. How much help CFA will do to that? Is it recognised globally?@leolazer@DEVILISHANGEL@harrypotter24@TONYMBAPlease give your suggestions.
1. Yes. Everything is crackable by everyone.
2. Target all levels, begin with level 1.
3. It helps a lot if you are in the top 15 older b-schools where companies looking with specific requirements come.
2. Target all levels, begin with level 1.
3. It helps a lot if you are in the top 15 older b-schools where companies looking with specific requirements come.
4. It is The Most Globally recognized Finance Degree in the World, in some cases, it can even take precedence over an MBA (out of India).
@DEVILISHANGEL Hi, thanks for answering.
My concern is, I have read that after completing level 3, one does not get the charter certificate if s/he doesn't have some amount of work ex. Can you throw more light on that? How many years of Work ex is needed? And will Banking sector count as relevant work ex to fetch the final certificate?
My concern is, I have read that after completing level 3, one does not get the charter certificate if s/he doesn't have some amount of work ex. Can you throw more light on that? How many years of Work ex is needed? And will Banking sector count as relevant work ex to fetch the final certificate?
@banu2312 said:@DEVILISHANGEL Hi, thanks for answering.My concern is, I have read that after completing level 3, one does not get the charter certificate if s/he doesn't have some amount of work ex. Can you throw more light on that? How many years of Work ex is needed? And will Banking sector count as relevant work ex to fetch the final certificate?
well that is not your concern. dont even think about that right now. thats not a problem to solve. just get through the cfa levels.
Hi. Currently I am working as financial analyst. I have 3 years of work exp in same domain. i cleared CFA L1 and planning to appear for L2 in june 2014 . I am interested in working abroad preferably USA. will cfa charter help me or after clearing L3 should i opt for GMAT? OR EXECUTIVE MBA from top tier indian Bschool . Kindly suggest
@sophiejain Mam can u answer my query .i have completed my bba from good college and pgdm from itm b school and i am currently working as a assistant manager in southindian bank ,i m going to give cfa l1 in dec 2013,wil my branch banking experience will be taken into consideration ?
I have good knowledge of accounting ,quant,and other financial subjects after clearing level 1,2 can i get a lumpsum hike in my salary and my profile as i want to work as an investment banker or as a financial analyst?
My current sal is around 6.5 lacs ,how much hike can i expect after cfa l1,l2
?
Thanx in advance
@chintanjain said:@sophiejain Mam can u answer my query .i have completed my bba from good college and pgdm from itm b school and i am currently working as a assistant manager in southindian bank ,i m going to give cfa l1 in dec 2013,wil my branch banking experience will be taken into consideration ?I have good knowledge of accounting ,quant,and other financial subjects after clearing level 1,2 can i get a lumpsum hike in my salary and my profile as i want to work as an investment banker or as a financial analyst?My current sal is around 6.5 lacs ,how much hike can i expect after cfa l1,l2?Thanx in advance
Well, i think i can answer this, at least partially. First of all, if your work experience is in any way related to investment process, it would be counted. Secondly, CFA certification doesnt guarantee you a salary hike. Completely depends on the profile you get and whether or not your work experience is related.
thinking that it will ensure your entry into IB is a myth
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