Hi Tenny,
Me too have a similiar profile as of your - (6 Years Experience). I have started with the CFA L1 course 50 days back, till now finished with around 30% of course. As per my view there is no basic knowledge required to start with but if you have financal domain knowledge that will be an extra edge. 3 hour are more than enough if you are consistent with it. Currently I am giving 90 min on weekend and around 5 hours on weekend, with this pace I am confident of finishing the course well in advance.
For June'08 candidates
Got this from CFA website(General updates: The CFA Program in India)
CFA Institute in India
28 May Update
On 27 May 2008, a division bench of the Delhi High Court stayed the AICTE order against CFA Institute, and is permitting us to hold the 8 June CFA exam in India. We are working hard to make logistical arrangements to hold the exam in Mumbai.
If you are confirmed to take the 8 June exam at a location outside of India, you will certainly be able to sit at your selected location outside of India. Nonetheless, if you are interested in taking the exam in Mumbai, I strongly recommend that you do not change your travel plans yet. We will contact you by end of day on 4 June (U.S. time) at the latest with additional information. If we have any information earlier, we will update you immediately. Please check this page and your e-mail regularly.
Important word of caution: Even if we are able to administer the 8 June exam in Mumbai, there may be some remaining risks to consider. For example, although we believe it to be unlikely, the court decision permitting us to administer the exam in India could be reversed by the Supreme Court of India before 8 June. Further, if the exam takes place in Mumbai, the court ruling states that "the examination is subject to the result of the appeal" by CFA Institute to resume operating the CFA Program in India. Final hearing for the appeal is set for 25 August.
Again, please do not alter any travel plans yet. We will update you as soon as we have more information.
27 May Update
We have learned that a Division Bench of the Delhi High Court has stayed the All India Council for Technical Education order against CFA Institute. This means that we are permitted to give the CFA examination at centers in India.
As there are just days before the 8 June 2008 CFA exams, we are actively studying the potential option of holding those exams in Mumbai in addition to the test centers already established in other countries.
Candidates who have registered to take the June and December 2008 exams outside of India should not change their plans or travel schedules. We will update candidates as soon as we have more information.
hey can u gimme some link to download stalla sample papers.it wud be of real help
I already have schewer material with me.so dont wanna spend extra bucks for stalla now.
Thanks
Hey,
You can check on esnips.com
Thanks
Shalabh
Hi guys,
This is my first post to this forum, before posting here I went through almost all the threads to look for the answer/suggestion that I am searching for.
I have a engineering background and I am working in a prestegious investment bank in Wall St, NewYork as a IT consultant. I do programming in Java/J2EE for the last 8 years.
Some how I desperatly want to swich the gear and move towards business side(finance analyst/porfoloi manager etc I don't know specifically, but do not want to be any more in IT).
I am married and have one kid. I do not want to go for full time MBA. Part time MBA in NY/NJ from good place doesn't worth the money and also my working hours doesn't allow me to do so.
Considering all the parameters I have, CFA looks like a best option for me.
Though I am working in finance industry but I have a little domain experince, as I am fully in to IT systems.
With this kind of background what do think guys,
Is it doable?
How many hours I have to put to get the basic level of finance knowledge so that i can start for L1.
I am very firm and some how want to do it. I can study late night or in the morning and can give 3 hours a day.
Any suggestion is highly appreciated.
Thanks,
Tenny
Hi Tenny,
As you may have well guessed you can easily prepare for the CFA exams with the amount of preparation you are willing to put it.However a CFA will not fulfill what you are looking at i.e a career change ,in any case it is quite difficult to effect a change in career when you are young and in your case given your age it is close to impossible .
I don't mean to discourage but if you intend to put in so much effort and considering the fact that you have a kid ,which means any preparation time is time away from your family ,you better utilize it in a manner which maximizes the possibility of what you have set out to achieve.
In your case your best bet if you are unwilling to go for a full time MBA would be a part time MBA -why not try for GSB Columbia or Stern if you are in NY ,in my opinion for the same amount of time put in (3yrs) they would provide you a much better chance for a change in career.
Hi Tenny,
Have you explored being a Quant?
Your background and knack seems to suit well for a Quant.
Best.
Thanks so much Rajat/Coolbond for your quick respose.
Rajat, I understand that you are not trying to discourage me. But I think doing part time MBA from Columbia or Sterns will, I guess take a lot of money(I don't know exactly, please let me know if you have any idea).
I discussed it with people i know and they have opinion that It required a GMAT with good scrore and lot of money(no body knows exacly).
Also My working hours are so tight that i can not even go for Part time MBA.
One more thing if I do the part time MBA then there won't be a campus recruitment(As per my knowledge), even if it is there then I have to join as a beginner(start all over again, please correct If I am wrong).
With doing this CFA, I am planning to swith my job profile within my company only(I think it's doable).
And also could you please put more insight on why I won't be able to swith the job profile after doing CFA?
Also can you guys tell me how much time/efforts, I have to put in order to complete the L1?
guys some how desperately I want to move out of IT work and ready to put my all efforts to do so.
I am sure there will be lot of guys who in my pistion.
Please give any suggesstion/realtime example if you have.
Hi, CFA Material (Schweser Material -08 L1) in Delhi ----
I bought it from here.
Bharat Book Centre
Ber Sarai (Near IIT Delhi)
Mr. V. Parashar --9312918189
Hope it helps
How much did you pay for it..?
HI Anand,
Thanks for the reply.
I have no idea about a Quant. What does Quant do? And what make you think that I have supporting background for it?
Thanks,
Tenny
Hi Tenny,
CFA L1 would require around 300-350 hours of study, being from non finance background is not that big hindrance, you being an Engineer would grasp things easily... If you can program in Java and J2EE fo 8 years you can easily crack CFA L1....
Put in 3-4 hours daily and you can appear for December'08 exams. And advantage with CFA is that you dont have to leave your job and can do it parallely where as if you go for MBA you have to leave your job...
So considering your situation you have made a right decision of appearing for CFA...
I hope i am able to answer your queries....
Take care...
Andy
Thanks so much Rajat/Coolbond for your quick respose.
Rajat, I understand that you are not trying to discourage me. But I think doing part time MBA from Columbia or Sterns will, I guess take a lot of money(I don't know exactly, please let me know if you have any idea).
I discussed it with people i know and they have opinion that It required a GMAT with good scrore and lot of money(no body knows exacly).
Also My working hours are so tight that i can not even go for Part time MBA.
One more thing if I do the part time MBA then there won't be a campus recruitment(As per my knowledge), even if it is there then I have to join as a beginner(start all over again, please correct If I am wrong).
With doing this CFA, I am planning to swith my job profile within my company only(I think it's doable).
And also could you please put more insight on why I won't be able to swith the job profile after doing CFA?
Also can you guys tell me how much time/efforts, I have to put in order to complete the L1?
guys some how desperately I want to move out of IT work and ready to put my all efforts to do so.
I am sure there will be lot of guys who in my pistion.
Please give any suggesstion/realtime example if you have.
Can any1 throw light on whether V'll be able to get edu. loan for this CFA program????
Has any1 got it earlier.. If so post the details..
Thanx in advance....
Hi,
Yes you can get education loan for CFA...
HDFC bank provides the loan, @ 14% or so .. but you need to search in google regarding the same.. you would definetly find something...
Can any1 throw light on whether V'll be able to get edu. loan for this CFA program????
Has any1 got it earlier.. If so post the details..
Thanx in advance....
Thanks so much Rajat/Coolbond for your quick respose.
Rajat, I understand that you are not trying to discourage me. But I think doing part time MBA from Columbia or Sterns will, I guess take a lot of money(I don't know exactly, please let me know if you have any idea).
I discussed it with people i know and they have opinion that It required a GMAT with good scrore and lot of money(no body knows exacly).
Also My working hours are so tight that i can not even go for Part time MBA.
One more thing if I do the part time MBA then there won't be a campus recruitment(As per my knowledge), even if it is there then I have to join as a beginner(start all over again, please correct If I am wrong).
With doing this CFA, I am planning to swith my job profile within my company only(I think it's doable).
And also could you please put more insight on why I won't be able to swith the job profile after doing CFA?
Also can you guys tell me how much time/efforts, I have to put in order to complete the L1?
guys some how desperately I want to move out of IT work and ready to put my all efforts to do so.
I am sure there will be lot of guys who in my pistion.
Please give any suggesstion/realtime example if you have.
Tenny I really don't think you have done your research on this thing.
Being in the States why don't you try and contact a few Finance Headhunters and try and see if someone will spare you the time to explain your options. Visit the site -www.efinancialcareers.com and go to the US country site ,spend a few days looking at the various job descriptions and you will understand what I mean.
Now to the rest of your queries:
An MBA may require you to start at the bottom but a CFA will most definitely require you to start at the bottom if you are able to even so that.When you say you can switch within your firm how can you be so sure ,has any MD/Director level guy made that commitment that if you pass Levels 1/2 or 3 they will transfer you out of IT and into the Investment Banking Division ,with 8 yrs of work ex you would at least be a VP ,in these market conditions nobody can guarantee an Analyst level position let alone a VP level one.
Talk to people in your team and find out if anyone has been able to move from IT to I Banking doing the CFA and then not start at the beginner level.
The people in the IT teams of Banks all over the world want to crossover towards the I Banking side ,how many have been able to do so? Inspite such a willing pool of candidates banks prefer to fill their ranks with Undergrad and Business School IVY league pass outs ,why ? Because just about anyone can do the CFA as whereas just about anyone cannot go to an IVY league School. Banks carve this exclusivity and this is just the way it is .
A lot of posts have emphasized that you can easily do the CFA , I have no issues with that my point being that it is not going to be useful for what you want to do.
As far what a Quant does ,I had once posted a pdf file explaining the role of a Quant in the Capital Markets search and you will find that post.
Tenny I really don't think you have done your research on this thing.
Being in the States why don't you try and contact a few Finance Headhunters and try and see if someone will spare you the time to explain your options. Visit the site -www.efinancialcareers.com and go to the US country site ,spend a few days looking at the various job descriptions and you will understand what I mean.
Now to the rest of your queries:
An MBA may require you to start at the bottom but a CFA will most definitely require you to start at the bottom if you are able to even so that.When you say you can switch within your firm how can you be so sure ,has any MD/Director level guy made that commitment that if you pass Levels 1/2 or 3 they will transfer you out of IT and into the Investment Banking Division ,with 8 yrs of work ex you would at least be a VP ,in these market conditions nobody can guarantee an Analyst level position let alone a VP level one.
Talk to people in your team and find out if anyone has been able to move from IT to I Banking doing the CFA and then not start at the beginner level.
The people in the IT teams of Banks all over the world want to crossover towards the I Banking side ,how many have been able to do so? Inspite such a willing pool of candidates banks prefer to fill their ranks with Undergrad and Business School IVY league pass outs ,why ? Because just about anyone can do the CFA as whereas just about anyone cannot go to an IVY league School. Banks carve this exclusivity and this is just the way it is .
A lot of posts have emphasized that you can easily do the CFA , I have no issues with that my point being that it is not going to be useful for what you want to do.
As far what a Quant does ,I had once posted a pdf file explaining the role of a Quant in the Capital Markets search and you will find that post.
Hey Rajat,
So what is left buddy, I am so confused that which direction to go but very firm that I want to move out of IT job and move towards business side.
Quant is one more option which I came to know from this forum.
To do part time MBA in USA from good school I need some big bucks, good GMAT score and time after work to go to school(I work late hours in office).
CFA or part time MBA,in either case as per you I have to start from scratch, which i do not want to do it's more than 8 years I am working i IT.
But to start over again as novice would be painful.
Guys, Is there any alternative??
Do we have any realtime example in this forum, who started with IT guy and then move to Business.
I will appreciate if you guys share some thoughs.
Thanks,
Tenny
:happy:
HI tenny,
I want to just put a view across you and @rajat ..that since u have solid exp in J2EE and other technologies..read in previous posts and u want to shift to ur own firm..if u apply to Ibanks in Operations..and side by side u keep doing CFA each level then also within the firm u have a better chance..i have just suggested it may work ok..
and also i guess if u see at FRM it is a 1 year course not sure enough abut it..its into risk mangemnet side..so if it is a 1 year course n m sure it includes greater amount of Quant then in CFA..so if one does FRM and then CFA it can be good knowlege / Resume wise..and just after completing FRM (Kinldy chekc if it is one year certification) then u can try to get into Financial firms ..
Please put your views all..
Thanks..
HI tenny,
I want to just put a view across you and @rajat ..that since u have solid exp in J2EE and other technologies..read in previous posts and u want to shift to ur own firm..if u apply to Ibanks in Operations..and side by side u keep doing CFA each level then also within the firm u have a better chance..i have just suggested it may work ok..
and also i guess if u see at FRM it is a 1 year course not sure enough abut it..its into risk mangemnet side..so if it is a 1 year course n m sure it includes greater amount of Quant then in CFA..so if one does FRM and then CFA it can be good knowlege / Resume wise..and just after completing FRM (Kinldy chekc if it is one year certification) then u can try to get into Financial firms ..
Please put your views all..
Thanks..
Abhishek,
Thanks buddy, but some how I aggree with Rajat that CFA alone can not change my career.
MBA would be good, again my constraints does not allow me to do so(I already explained it in my previous post).
What could be the alternative?? I have not much idea about Quant, trying to do research on that.
Thanks,
Tenny
Can anyone please post a formula sheet for L1. All formulas in one pdf or doc.
TIA
Awesome link...thanks
anyone needs Schweser L-II 2008 videos, feel free to pm me.
i am looking to share costs, am gonna buy from a friend who will take his L2 this june.
i need a link to download stalla 2008 material........ pls help!!!!:sad:
thanks