Hey, I just went through these two articles:
http://www.mergersandinquisitions.com/cfa-investment-banking/
I plan to pursue a career in investment banking and was considering doing CFA as the first step towards this, but the article seems to say otherwise. Thoughts?
Careers in investment baking typically don’t last very long. They also don’t allow for much free time. I would recommend starting the CFA Program after your stint in investment banking, once you’ve hopefully moved on to: (i) hedge fund; (ii) private equity; (iii) venture capital; or (iv) a management position within an operating company. In these situations, the CFA is a “nice-to-have” and not a “need-to-have”, although I am sure that you will find the program (and the designation) useful, whether you are managing your own finances or trying to impress clients/investors. That said, a lot depends on your work-life situation (i.e. kids, wife, etc.). If you have some free time at night and on the weekends, I say go for it. Getting the CFA is better for you than binge watching Netflix.
I thought that a CFA would help me get the ‘stint’ in investment banking, no?
Another question: How relevant is CFA to auditing firms (such as the Big 4)? Could you tell me a few fields in which the CFA program is not just a “nice-to-have” qualification?
This information can be inferred from the current occupations of CFA Members. According to the CFA Institute website, top occupations of CFA Members are:
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Thanks for your reply.
Correct me if I’m wrong but getting a CFA Charter would be quite useful if I’m planning to become a Chief Investment Officer?
Since you are in India, i don’t think i can really comment, but i would suggest going to networking events for audit firms and see how many of them have CFA’s, and then also look at their job board and see what qualifications they require?
I do not think CFA is TYPICALLY a requirement even for advisory but it can be different in india, it’s best to just go to the source.
Yes
Nice chart, but the percentages sum up to 70%. Why does it omit the largest bar at the top - Unemployed 30%*.
*Source: local society events
LOL!
Can’t forget IT*
*Source: AnalystForum
LOL
I suppose. Great plan bro. Also, no a CFA won’t get you a stint in investment banking…who gave you that idea. Bankers are not investors…the CFA is a designation for investors.
What’s so funny about my plan? And Investment Banking is a very broad term which has many divisions. Surely a CFA would help in Wealth Management or in the Trading divisions?
You’re all over the place. CIO? Sales Trading? What is it that you want to do exactly?
Also, as others have said, the CFA won’t get you into banking. Banks care A LOT about where you went to school; everything else is just fodder for small talk at the beginning of the interview.
More the career options I have with the CFA, the better it is for me.
Named must your fear be before banish it you can
Investment banking is investment banking…it is not a broad term and does not include a wealth management or trading division. Stay in IT.
A CFA can help, but it wont be the deciding factor. It will help in terms of building an understanding of the financial markets and valuation, but all investment banks have a standardized recruitment process that’s difficult to break into if you aren’t from a target school (e.g., Ivy League, NYU, etc.). A CFA definetely helps if you’re not from one of these schools.
In addition to a CFA, I would focus on networking and trying to make a lateral move into the Bank. Here is a helpful list of junior investment banking jobs to get you started: http://tapwage.com/channel/beginning-in-banking
I’ll be starting the third and final year of my BBA in June and will be graduating in March/April next year.
I needed some advice on the order of the following once I graduate:
Work Experience
MBA
CFA
What would be the ideal order to pursue the above 3 without wasting much time? Thanks in advance
Work experience, MBA, CFA (if you still want to do it)
Yes, I’m still very much interested.
Btw, what is the logic behind doing the MBA before the CFA? Could you give me more insight into the logic behind the order you have suggested?
a good MBA has a much higher chance of you getting in the door. The CFA was best used as a supplement,