Will taking the CFA make me seem as if I lack direction in my career?

CFA General
#1

Hi everyone,

I’m sure this board gets its share of “Is the CFA for me?” posts; however, my question is a bit different. I’m very interested in taking the CFA exams, but I’m worried that it may look like my career lacks direction.

Here is my relevant background: CPA with 2.5 years Big 4 audit experience, mainly focused on hedge funds. I recently transferred into my firm’s Transaction Services (Financial Due Diigence) practice. My deal experience here will be mainly on pharma, healthcare, retail, and manufacturing companies. My educational background is a small, private AACSB-accredited school where I earned a BS in accounting and an MBA (basically a glorified MAcc).

Here’s where I want to go: I’m currently living and working in a large east coast city (not NYC). My goal is to move to NYC within a year and a half. I’d like to work at an alternative fund (be it hedge or PE) in a role other than strictly financial reporting. I’d imagine the highest I can shoot is for middle office, as I don’t have the investment banking bakground necessary for front office. Also, given that I already have a low-ranked MBA (obtained naively as a 150-hour vehicle for the CPA license), I don’t have the option to “reset” my career with a top tier MBA.

My concern is that CPA + Alternatives Audit > FDD + CFA looks like I’m all over the board. I realize that the TS Valuations group may have been a better choice to get into buyside. I picked FDD because I kept my seniority at the firm, it’s more client-facing, and Valuations in my current office spends 90% of their time just reviewing third party valuations for audit engagements.

Long story short, I’d like to dedicate myself to getting the CFA as tangible proof of my desire to work in finance. But I don’t want to spend all the time and money if it will actually hinder me in any way. Certainly there is a such thing as too many letters after your name…

Thanks in advance for your advice!

#2

I wouldn’t think so, go for it

#3

That’s true, but in every situation you only have to show the ones that you want to.

For instance one person I know is both a CFA Charterholder and a CPA. His email signature usually shows only “CFA” after his name – but if he is writing to accountants then he’ll include “CPA” as well.

#4

Don’t they want you to get the Charter?

Same story here - moved to Big Four Transactions after 2,5y Big Four Audit (different firm) and when I mentioned during my application that I wanted to do CFA, they told me that they would want me to do it anyway + they’re paying for it. Seems weird that they didn’t offer you the same, I know for a fact that they have this policy in both my current and previous Big Four firm. Belgium of course, although I’d think US offices support the Charter even more.

#5

In exactly the same boat… I am no longer Big 4 but my firm would also pay for and encourage CFA.

I am now a Corporate Accountant at a Bank and I can say passing Level 1 definitely helped me with obtaining my current role. I am hoping that passing Level 2 and 3 will also eventually aid progression in Finance within Banking. So I personally dont see it as a waste but as a valuable asset because I also want to eventually expand my options way broader than only financial reporting.