Waiting for the results, I realize the futility of a CFA Level 3. I work in India, and I am from the top 3 Engineering & top 3 b-school of this country.
Even now after virtually having a Level 3 on the resume, I can’t break into ER/ PM. Wondering is this emerging market specific phenomenon?
Can you name your colleges cause everyone I’ve talked to so far said there are great opportunities?
If you’re from an IIM or ISB and with a CFA now, ideally you should be working in Investment Banking. PM or ER is something you could easily get into. Just look harder.
Top 3 IIT & top 3 IIM
Hey aspop1, in my experience CFA is next to useless. I come from an EM too and in many of the finance posting I see, CFA isn’t even indicated as a requirement or something good to have. We are talking about investment banking, corporate finance roles.
So why am I taking it?
“It’s more the case that if you don’t have one you’ll be disadvantaged. Most young asset management professionals have the CFA now.”
Read more here: https://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91061025
The more I think about it, the more I realize, CFA is nothing but a gimmick, like most of these certifications are. It does not impart any practical investing knowledge or skill. Cfai is after all just a for-profit institution contrary to what it preaches.
Not because I can’t find a relevant job, I truly regret the 3 years I have wasted for this program. Had I invested these in developing my investment philosophy, would have been much better off.
Sounds like you’re having a tough day aspop
I’m facing Red Pill moment, the closer it’s getting to the results. It’s like waking up from the Matrix!
I disagree. Without Level 3 I wouldn’t have my CFA.
I’m sorry, What I really mean is that the topic of this post should be ‘Futility of CFA’
Hello Sir,
Please do not visit AF while you’re on the clock. This customer service waiting time is getting pretty ridiculous.
#tank
Talking about respecting the time when you’re ‘servicing’ clients by the hour, Mommy taught you well, Sonny boy
It is very useful, over here passing level 2 gets me a waiver for half the exams of the professional financial analyst license, and passing level 3 serves as a waiver for 2/3 of the portfolio manager license exams
Guess it varies with the individual. If your objective is to collect paper qualifications then yeah it would certainly help. If it is for finding a job …
I won’t say that the CFA designation alone will help you land a job but it definitely helped me get into the quant world as the director went through the process himself and was familiar with the work and information that was put into it. Maybe I’m one of the lucky ones but my career path and my involvement in the CFA program has been a positive one.
a professional license is a legal requirement to work as a portfolio manager
aspop- think I can see you, on the upper left.
#13.8LakhPerAnnum
Knew this was coming. I seriously wonder how do you find time out of your plum Hedge Fund job to do such kind of Tom foolery on this forum.
I wanted to urge you to uphold the honour of being a charterholder, if there is something like that. But then I realized passing CFA doesn’t build character may be. Or may be it does, and any schmuck can claim himself to be a charterholder on Analyst Forum
If all else fails, the CFA journey was atleast a valuable source of information. You could make-shift apply certain parts of the curriculum to practical use for yourself.
I did undergrad in Econ, Political science and Intl Relations. I missed the boat on BBA Finance.
This was the next best thing to do. Or go to grad school and dish out 100k (which may still be an option).
But in a hypercompetitive place like Toronto. Forget it. CFA is nowadays the bare minimum requirement.
I know a dood that is a Charterholder AND graduated this April from UofT Rotman (consider tier 1 in Canada). He couldnt get into any of his choices, i.e. one of which were Sales n Trading.
Ended up settling for a business analyst role. That discouraged me going the MBA route.
However, if you go to other less hyper competitive areas i.e. the middle east. Its different. I got into Transaction Advisory Services right after my L2 at a small Consulting firm. Owner was Ex- Earnst n young. Allowed me directly to build maintain valuation models for private companies. Write reports on the financial conditions of the companies. Do a but of macro economic research in several of the neighboring arab countries.
I JUST came back to Toronto this year. LOL. Forget it. Youd be lucky to land a job as an investor relations specialist. Its just not the same.
For me in the meantime, out of respect for the hard work i put in and the reputation of the CFA. Im putting it to use by covering a couple of industries and working on my own models. Ofcourse im supplementing that with other material from M&I, youtube etc.
A. To not lose touch with the material
B. To be more marketable to “Toronto” employers cuz its a shit show here.
Worst case i move to Dubai. Its diff there too. But so far the L3 i find the least useful unless its your job hunt is directed more towards wealth mgmt or portfolio associate positions IMO. And i can only imagine L3 would be more valuable if you first have experience in that portfolio sphere.
That’s interesting. CFAI is listed as a Non-profit in the US. Where are you getting your facts?
As for not imparting practical investing knowledge, are you sure you were reading the same curriculum as the rest of us? Personally, I have felt that I have learned a great deal about the investment process.