so I’m thinking of going for a cpa license as well as CFA title (or at least passing a couple exams and putting that on resume). but I hear that this isn’t enough to get a job as a financial analyst. (my understanding is that investment banking needs you to have a degree from a high tier school and networking and is just generally hard to get into, so I’m looking at corporate finance). along with some accounting experience I figure that has to account for something when applying. but what do you guys think? any experience with this?
cpa is better than cfa in that regard. most cos love ppl with big 4 exp. so if ur willing to do 60 hr weeks in audit for a few years, you should be good. shes in corp finance as a diretctor. netting 160k + stock options. woth maybe 40k per year right now. could be more.
Same situation here. I completed CFA and CPA education at the same time. In Canada, CPA education runs about 2 years to finish. It really depends on what your career path is. I took CPA because I have received a job offer upon graduation working in accounting firm. The firm required me to take CPA courses to employ me. But after a couple of years of bean counting, I started to fed up with working in public accounting firm. It’s repetitive and extremely long hours. You will encounter peer pressure of not working over time. You should consider if this lifestyle is what you want. If not, think twice of getting CPA.
CPA and CFA will take you a lot of energy. I am fortunate that I finish both of them when I am relatively young. I could not imagine doing them when I’m at my 30s. So think about if you have future family obligation before tapping into the water of exams preparation.
Well said, Edupristine. Tell me–do you know this from experience, by having both on your resume? Or are you just speaking based on what you perceive to be true?
CFA is more geared towards the investment industry, most investment bankers I know wouldn’t put too much value in it. It sounds pretty clear to me that your focus should be on the CPA and potentially a stint in bulge bracket accounting.
I have both CPA (well ACA) and CFA qualifications and to be honest I have never really found one to add any value to the other. The only bit where CFA helped was better understanding of derivatives and options, since my role requires me to manage and advice on hedge accounting. Apart from that whenever I have been approached by recruiters for accounting/reporting based roles, additional CFA qualification has hardly added any additional weight to my case.
CFA talks about your mastery over finance and investment topics. CPA talks about your mastery over accountancy. The combo will definitely give you recognition.
I hereby demand a garland of roses from all the lesser, non CFA+CPA types in the Water Cooler.