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Relevant Work-Ex

Question regarding relevant work experience -

I am working for a consulting firm for the last 5 years. My work involves helping my clients(asset management firms) adhere to applicable laws and regulations. Is my work-ex relevant?

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I know a former colleague who works in consultancy and he was not able to get the required experience from his role. Obviously it depends on what type of consultancy you are doing, his being more sell-side consultancy.

Revision is futile......

Same question.

I’m working for a big 4 audit firm amd do audit  mainly for financial service firms.

IMO anyone with IQ > 110 should’ve done some due diligence re: relevant work experience *BEFORE* sitting for Level III (or even Level II).

#goodluck

That’s not correct. I am sure most of the people(those who do not directly manage any assets) here would be doing research about their work-ex relevance after writing level 3 exam.

#hastagsnotcool

Not sure how you deem my use of “should’ve” as incorrect… 

Anyhow if you’re fortunate enough to pass that final hump, but your work experience isn’t relevant, at least you can update that “Highlights” section in your résumé. 

#PassedLevel3

UnderRighter wrote:

That’s not correct. I am sure most of the people(those who do not directly manage any assets) here would be doing research about their work-ex relevance after writing level 3 exam.

#hastagsnotcool

^+1

I agree. No idea why it matters when you research your work experience. However, I would suspect most have been curious and checked by now. 

hashtag wrote:

IMO anyone with IQ > 110 should’ve done some due diligence re: relevant work experience *BEFORE* sitting for Level III (or even Level II).

#goodluck

Hashtag buddy you’re starting to sound overly pessimistic and judgmental at best, if not outright antagonizing and childish to other members’ genuine queries. If life has been treating you poorly as of late, or if you’re bored and have nothing better to do, please #troll somewhere else where your “insight” is valued. Cheers.

Audit should be fine as your work product supports the investment decision making process. Audited financials are key to the integrity of capital markets, eh?

This depends on exactly what you’ve done obviously, and I’d be careful in your phrasing. Audit doesn’t seem like it’d be a slam dunk like some other professions. 

Luan Le wrote:

Same question.

I’m working for a big 4 audit firm amd do audit  mainly for financial service firms.

You shouldnt have any problem. Just make sure you try to write effectively of how your work impacts investments world.

The harder the struggle, the more glorious the triumph.

UnderRighter wrote:

Question regarding relevant work experience -

I am working for a consulting firm for the last 5 years. My work involves helping my clients(asset management firms) adhere to applicable laws and regulations. Is my work-ex relevant?

Consulting for what exactly? Anyone related to finance somehow shouldnt have a problem.

The harder the struggle, the more glorious the triumph.

Victoryeo1984 wrote:

I am a software engineer. If i pass CFA level 3, it is kind of impossible for me to get an equity research or investment job. I have no prior working experience in finance.

I may have more finance and investment analysis knowledge than the bank managers in my town, but so what? 

It does not matter.

This CFA candidate LIII quote taken from another thread is what I was getting at in previous posts.

Not passing judgment on anyone who is trying to learn about finance or help advance their careers by taking CFA exams – but you shouldn’t be waiting until the 11th hour until you research if previous/current work experience is applicable toward earning the 3 letters.  

(He already knew.)

#JustForTheRecord

good historian )) or simply plenty of time …or perhaps tough childhood… ))

hashtag wrote:

Victoryeo1984 wrote:

I am a software engineer. If i pass CFA level 3, it is kind of impossible for me to get an equity research or investment job. I have no prior working experience in finance.

I may have more finance and investment analysis knowledge than the bank managers in my town, but so what? 

It does not matter.

This CFA candidate LIII quote taken from another thread is what I was getting at in previous posts.

Not passing judgment on anyone who is trying to learn about finance or help advance their careers by taking CFA exams – but you shouldn’t be waiting until the 11th hour until you research if previous/current work experience is applicable toward earning the 3 letters.  

(He already knew.)

#JustForTheRecord

I know numerous candidates who were graduates and interns and received their work experience approval. Interesting

CFA,CAIA

I am accountant and auditor and my experience was approved. I included all complex models I prepared as part of main work.

They send requests to all referees and read responses so inform your referees about the application and remind them what and how you have done together. They can easily forget it if it was several years ago and CFA Institute is looking for consistency in responses.

If you obtain ‘no’ response, reply and explain why you think your experience relevant. It worked in my case. Some CFA Institute employees see themselves as ‘guardians’ and sometimes overplay in this role. Constructive meaningful dialog helps.

P.S. To fellow accountants: ability to comply with whatever bizarre rules and principles (and being able to explain) must be our strength. ;)

Mikewinner wrote:

good historian )) or simply plenty of time …or perhaps tough childhood… ))

hashtag wrote:

Victoryeo1984 wrote:

I am a software engineer. If i pass CFA level 3, it is kind of impossible for me to get an equity research or investment job. I have no prior working experience in finance.

I may have more finance and investment analysis knowledge than the bank managers in my town, but so what? 

It does not matter.

This CFA candidate LIII quote taken from another thread is what I was getting at in previous posts.

Not passing judgment on anyone who is trying to learn about finance or help advance their careers by taking CFA exams – but you shouldn’t be waiting until the 11th hour until you research if previous/current work experience is applicable toward earning the 3 letters.  

(He already knew.)

#JustForTheRecord

Yes, trying to escape the memories of a tough childhood has enabled me to develop supernatural analytical skills.  Can’t believe you were able to figure that out so quickly.  The sad part is my mother never saw the irony in calling me a son-of-a-b!tch.

Going off on a tangent, but are you going to create the “2017 Official Results Thread” – just like you did back in 2015?  Might bring you good luck this time. 

#BestWishes

hashtag wrote:

Going off on a tangent, but are you going to create the “2017 Official Results Thread” – just like you did back in 2015?  Might bring you good luck this time. 

#BestWishes

s a v a g e

As a former distressed banker, I love doing turnarounds. There is nothing like coming from behind and finishing with a huge liquidity event.

hashtag wrote:

Mikewinner wrote:

good historian )) or simply plenty of time …or perhaps tough childhood… ))

hashtag wrote:

Victoryeo1984 wrote:

I am a software engineer. If i pass CFA level 3, it is kind of impossible for me to get an equity research or investment job. I have no prior working experience in finance.

I may have more finance and investment analysis knowledge than the bank managers in my town, but so what? 

It does not matter.

This CFA candidate LIII quote taken from another thread is what I was getting at in previous posts.

Not passing judgment on anyone who is trying to learn about finance or help advance their careers by taking CFA exams – but you shouldn’t be waiting until the 11th hour until you research if previous/current work experience is applicable toward earning the 3 letters.  

(He already knew.)

#JustForTheRecord

Yes, trying to escape the memories of a tough childhood has enabled me to develop supernatural analytical skills.  Can’t believe you were able to figure that out so quickly.  The sad part is my mother never saw the irony in calling me a son-of-a-b!tch.

Going off on a tangent, but are you going to create the “2017 Official Results Thread” – just like you did back in 2015?  Might bring you good luck this time. 

#BestWishes

#Childishandpetty

Hi all

as part of my work experience - i am having to submit 3 employers since my 48 months ( in fact more than 70 months) were earned at 3 firms.

Does that mean that i have to include 3 referees, each from one employer, or i can simply include 3 referees (2 from my current employer and 1 from my ex employer?)

Thanks in advance for the help!

I’d e-mail CFA Institute (info@cfainstitute.org) and ask them.  They’ll know; we might not.

Simplify the complicated side; don't complify the simplicated side.

Financial Exam Help 123: The place to get help for the CFA® exams
http://financialexamhelp123.com/

av2502 wrote:

Hi all

as part of my work experience - i am having to submit 3 employers since my 48 months ( in fact more than 70 months) were earned at 3 firms.

Does that mean that i have to include 3 referees, each from one employer, or i can simply include 3 referees (2 from my current employer and 1 from my ex employer?)

Thanks in advance for the help!

3 in total who can speak to you and your experience should be sufficient. They prefer those who have been in a supervisory position to you, but not completely necessary. I did two from current job and one from previous, of those two had been supervisor of me and one was just a colleague. Application was approved day after I officially submitted. 

jbaby87 wrote:

av2502 wrote:

Hi all

as part of my work experience - i am having to submit 3 employers since my 48 months ( in fact more than 70 months) were earned at 3 firms.

Does that mean that i have to include 3 referees, each from one employer, or i can simply include 3 referees (2 from my current employer and 1 from my ex employer?)

Thanks in advance for the help!

3 in total who can speak to you and your experience should be sufficient. They prefer those who have been in a supervisory position to you, but not completely necessary. I did two from current job and one from previous, of those two had been supervisor of me and one was just a colleague. Application was approved day after I officially submitted. 

Thank you!! - in fact i have 32 months at my current employer, 9 months at my ex employer and 39 months at my first employer. So the idea is to capture 41 months of 48 as per references and obviously giving all > 70 months for me to pass the 48 months rule.

Also one question, which may be “silly” - they want you to have at least 48 months and at least 50% direct involvement in the investment decision making process. So if i do the maths, the “effective” experience needed is at least 24 months with 100% involvement in investment decision making process.

So this comes from my current employer as i spend 100% of my time valuing companies and doing due diligences - so i could also technically take 3 references from my current employer? Does that make sense?

Also how does the local CFA society check as part of the membership? Do they call to interview you if they want more details about your work experience? or have queries over your resume?

don’t think about it too hard. Provide the minimal but passable amount of information regarding each experience. There was a decent reference on the CFA website about what a good explanation includes. They are not very long at all and as long as they cover the points it should be good. Be creative to make it work if need be (don’t lie though). Don’t write about % of time of the day in the description, just let it be assumed it’s greater than 50% otherwise you wouldn’t be writing about it. As long as your cumulative experience spans greater than or equal 48 months it will be fine. I can’t say for sure because I don’t work there but i would bet a substantial amount that no background check/ calling to clarify happens 

jbaby87 wrote:

don’t think about it too hard. Provide the minimal but passable amount of information regarding each experience. There was a decent reference on the CFA website about what a good explanation includes. They are not very long at all and as long as they cover the points it should be good. Be creative to make it work if need be (don’t lie though). Don’t write about % of time of the day in the description, just let it be assumed it’s greater than 50% otherwise you wouldn’t be writing about it. As long as your cumulative experience spans greater than or equal 48 months it will be fine. I can’t say for sure because I don’t work there but i would bet a substantial amount that no background check/ calling to clarify happens 

Hi there

Thank you so much - you have been super helpful! :)