since job market is so tight especially IB, Asset management, Equity research, I think CPA it may not be a bad idea for people that finish CFA and still can not get a good job in the mentioned fields. what do you guys think?
Don’t know if there are any new experience requirements, but when I finished the CPA exam I needed to have 2 years of audit/advisory experience.
BigRed08 Wrote: ------------------------------------------------------- > Don’t know if there are any new experience > requirements, but when I finished the CPA exam I > needed to have 2 years of audit/advisory > experience. BigRed, that might be because the state you took the CPA exam in had that requirement. Each state is different in terms of whether any work experience is required in order to earn the CPA designation after successfully passing all four parts. Florida to my knowledge does not require any work experience to earn the title.
It will be waste of time pursuing CPA if you goal still remains to be in IB, AM etc. CPA only makes sense if you want to be a corporate controller/cfo or be in the TA practice of big 4. Otherwise, just use the same time to pursue an MBA from a top-tier.
Getting more letters will not get you a job
That may be true, just giving my experience with it in NY. OP - check on your state’s rules regarding this. Some people do the CPA with transaction advisory route at a Big 4 for a few years and then move over to IB. If you could skip this step…even better. If you went to a non-target school for IB…chances are less but not impossible. Check out the wall street forum for more info. Agree with the comments that more letters won’t get you a job.
If you like accounting, want to work for big 4 or become CFO/Controller go for the CPA. I can tell you compared to Inv Mgmt, for a CPA pay is terrible and work is not that interesting but there is more job security and there are more jobs out there for accountants. A CPA is a completely different career path and a CFA won’t be much help for an accounting career. I can argue that you don’t really need a CFA for Inv Banking at all. For I-banking you get hired out of a good undregrad of b-school. There is some usefulness of CFA for Inv Mgmt business but look around, do the top money managers have CFAs? It all comes down to “who you know” and not “what you know” 
inbead Wrote: ------------------------------------------------------- > If you like accounting, want to work for big 4 or > become CFO/Controller go for the CPA. I can tell > you compared to Inv Mgmt, for a CPA pay is > terrible and work is not that interesting but > there is more job security and there are more jobs > out there for accountants. A CPA is a completely > different career path and a CFA won’t be much help > for an accounting career. > > I can argue that you don’t really need a CFA for > Inv Banking at all. For I-banking you get hired > out of a good undregrad of b-school. There is > some usefulness of CFA for Inv Mgmt business but > look around, do the top money managers have CFAs? > > It all comes down to “who you know” and not “what > you know” Very well said!
inbead Wrote: ------------------------------------------------------- > If you like accounting, want to work for big 4 or > become CFO/Controller go for the CPA. I can tell > you compared to Inv Mgmt, for a CPA pay is > terrible and work is not that interesting but > there is more job security and there are more jobs > out there for accountants. A CPA is a completely > different career path and a CFA won’t be much help > for an accounting career. > > I can argue that you don’t really need a CFA for > Inv Banking at all. For I-banking you get hired > out of a good undregrad of b-school. There is > some usefulness of CFA for Inv Mgmt business but > look around, do the top money managers have CFAs? > > It all comes down to “who you know” and not “what > you know” +1 But want to add: “who you know” won’t help in the long run if “what you know” is crap. Who you know knows who you are … unless the “who you know” knows someone is working for you unconditionally (eg: your mama papa)