^ eh. don’t totally agree, because it depends on what you do.
When I look across the AM field especial;ly, the number of charterholders in the ranks continues to grow, roughly I’d peg it at 50-70% have it now. I expect this number to continue to climb.
If you look on Bloomberg’s job postings almost all say MBA/CFA.
If you have an MBA from a top B-School then I do not think a CFA is absolutely necessary and I am sure some overachievers will get both. But good to see that many employers view both almost equally. Especially given the cost differential.
I will say in meetings with buy-side analysts and PMs, the vast majority have CFA on their biz cards. Especially the younger set (less than 40 yrs old).
i predicit that people will stop using the letters on business cards, email, any correspondence.
the CFA is becoming a minimum requirement, the question is what-else do you have besides the CFA (experience/results/MBA)… it will get to the point that its more impressive if you are a successful PM without the CFA, because everyone has it.
I guess my implicit point is that if you suck at CFA but are great at business school, don’t do equity research or something that requires CFA. Obviously, you are good at something, but it’s not CFA stuff.
How do u brainwash a Frenchy?
Fill his underwear with water.
Nothing better than seeing French classism proudly snappin’ in the wind. For the few who can afford the (very expensive) tutors and cram classes necessary for passing the exams to enter les grandes ecoles, of course the system seems fair. Keeps the pesky striving riffraff from ascending. UGH, quelle horreur! But who makes a better doctor, a rich kid with an expensive tutor who helped him or her to memorize the questions and question formats, or the passionate striver working a part time job to achieve his or her dream? But I digress.
The CFA exam is largely a reflection of one’s ability to cram for a massive exam. Period. (And by the way, just because one passes all three levels doesn’t mean that they will get the designation, the CFAI DOES take ‘relevant work experience’ seriously. I know two people who were denied because of this very reason, so if trying to break into the industry is the reason for going through all this, think twice.)
Few things I find funny and the first of one is the #s of people bringing hatred referrring first to the facts that i said i was from france ==> Its very funny but also i honestly think that a few more people would agree with me if sadly i left that detail out.
@ the sloth ==> just dont speak out about something you dont know you are obvuiously very ignorant of the french school system. Anyone with a high school degree can sign up for med school first year exam and its difficult to find a process more fair than this. For Grandes Ecoles, i guess rich people can get an edge with tutor even tho i really never heard of that (except for appications like so many more do in the US) but again grandes ecoles are wide open to anyone who has worked hard in high school including cheap public schools since to graduate high school everyone takes a national exam which is the same for everyone and level the playing field. And please, PLEASE you are from the US man where money buys everything including Wharton Harvard yale stanford princeton admission for than any other country.
Micholien, you’re funny! I lived in France for ten years.
At no time did I claim that the US system is fair; it was you who set yourself up by trumpeting the theoretical fairness of the French system. I merely pointed out 1) your out-of-place nationalism and 2) the flaws in your analogy. In an intentionally barbed way, of course, you did invite hating in the title of your post, non? Or perhaps you simply meant envy.
Admission to elite US colleges does favor affluent students, but mostly because affluent students do better in school than non-affluent students. I suspect that the same is true for most other countries. Everyone in France is entitled to take the same exam, but I bet that even in the absence of tutoring, affluent students achieve higher scores than non-affluent students. Affluent students usually have access to positive parental influence, stable families, and relationships with other role models who encourage them to perform well at school.
Thesloth man, when did I trumpet about the french system, I was just giving an example of something I know and that I believe the CFA should implement somethign similar!! It would have been in India or japan or peru and i would have known of a fair system there i would have used it as an example but i dont know these countries.
I am just pointing out your out of place cliche prejudice vs the french i mean i would have said the same post saying iam from luxemburg and that how it works there iw ould not quite have had as much referral to the fact i am french. You talk about my nationalism but i have been out of my country for 8 years with no plan in going back for now.
And finally something you got right, I invited people to hate just because i knew that was gonna be a heated debate and I guess I am on the contrarian side which is usually where i stand (away from the monkeys)
…away from the monkeys that fling poo at you .haha
Micholien, you are cracking me up!!
Anyone with a high school degree can sign up for med school first year exam and its difficult to find a process more fair than this.
reinforced that same claim.
And please, PLEASE you are from the US man where money buys everything including Wharton Harvard yale stanford princeton admission for than any other country.
Now who is putting forth a prejudiced cliche?
Anyway, I was just having a little fun with you. Its Friday. Have a nice glass of wine.
They speak French in heaven.
"1. Your OP was based upon your claim that the French system was very fair, and then your reply to my post,
Anyone with a high school degree can sign up for med school first year exam and its difficult to find a process more fair than this.
reinforced that same claim."
you have major weaknesses in your critical reasoning, you really need to work on it. Idescribed a fair system and couldnt care less of where it originated from. I would have witnessed or known of a better exam system that i believe the CFA should adopt from elsewhere (country) i would have used that as an example.
Trumpeting man i mean come on stop it you dont even know me. I will probably never used my CFA (yet gonna finish the program) as I intend to change career path in the near future. Then you take some free completely ignorant shot on a system you dont know then i cant let that happen. If i had the saME CRITICAL REASONING AS YOURS i would infer that you took free shot at the french system implying US is better but i dont allow myself to infer things not clearly stated in the text.
ha! I left that part out yes.
Different strokes for different folks! Life does not have a “one size fits all” formula. Does the French med-school system make an average doctor in France better than doctors from countries that don’t have that system?
Maybe I’d have viewed this differently if it was posted before results came out but I think it’s rather unfair to make comments like this when you don’t understand each person’s individual situation (e.g. maybe some people are already in the industry but need to pass for XYZ reasons) .
In the end I think it is better to build than to destroy and I will encourage anyone who wants to earn the charter to keep trying.
French is a very soft silky language…very seductive when pretty madmoiselles speak it sensuously
French Military Victories
What are figments of the imagination?
this is a fantastic debate. especially after a few beers. I need some popcorn now