I was wondering if CFA charter really help in your job search under current environment? Anybody who get the CFA charter this year feels that really helps a lot for him/her to get a new job? Also, when your guys refers to CFAI EOC questions, do you refer the end of chapter questions from the curriculum? Or Some additional books you will get if you take the review classes provided by CFAI? Thanks
Same question. I am working in IT departure of a global leading investment bank in Asia and i passed CFA level 2 this year. I tried to sent my resume to all the agents i know several week before. It is really disapointed me that almost all of the agents confirmed with me, what is CFA stand for?
CFA candidate counts for nothing. Have you asked those completed charter designation? They may not be in this forum…
I would not say being a candidate counts for nothing. The reality is that experience counts for much more. Today’s environment is brutal for trying to break into finance. There’s still a ton of people with good finance backgrounds looking for jobs, and when push comes to shove, someone with the relevant job experience WILL be chosen over someone who passed CFA exams with only slightly-related experience. A friend of mine who is interviewing now (for analyst positions) says all the interviews he’s gone through, everyone knew what the CFA is and understands the difficulty of it, but he’s being chosen for the interviews because of his strong investment experience, the CFA candidate (he is a L3 candidate) is only minor icing on the cake. Passing L1 is no big deal anymore. It used to be helpful, but way too many people have it now. L2 is definitely more impressive, but still, chances are L2 alone will not get you the interview.
I am from hk. To be honest, CFA is not benefit me even for one bit. I have been sending my cv to job agents for a few months and and I still have not received any positive feedback at all. By the way, I failed L3 this year and going to do it again next year.
I am from Singapore and have 5 years audit experiences (non banking clients) from big 4 and I have passed my L3 this year, recently I have send out at least 500+ CVs to all the banks for all kinds of entry level positions, passing CFA doesnt seems help me at all…
If you’re looking for a golden ticket you’d be better off hoarding Wonka bars. The CFA designation does not guarantee anything by itself. It’s a mistake to think it will automatically get you in the door - besides, you can’t get the designation until you’re at least four years “in the door” anyways. Does it help? Certainly, at least it can’t hurt… Also, not trying to be critical, but I can tell that every poster besides iteracom is not a native English speaker, which may be a factor if you’re interviewing at smaller foreign firms, being that the CFA is an exclusively English test. I don’t dare compare anyone to qqbee, but I spent some time living in Asia so can speak from experience too: collecting designations and certifications like baseball cards because you can take tests well doesn’t mean much to Western firms without experience. Be realistic that your first job probably won’t be 6-figures based on passing a CFA level or two, but persist and you’ll find something eventually. Grind away there for several years, knock out the CFA and earn the right to use the letters, and odds are then you will reap the benefits of having the CFA alongside experience. Tweety - my advice to you would be quantity does not equal quality. I’m sure each CV wasn’t tailored to each firm, and this method in this economy is akin to buying a lottery ticket unless you have an absolutely stellar resume. Try spending some time crafting unique cover letters or get ambitious and actually visit the target company in person. You may not get past the front door, but if you do you will most certainly stand out, and will at least know you put in your best effort.
^ well said. Also, I’d like to point out in asian countries, the interview process is even more subjective. It’s common to put a picture on the resume. With 80k+ charterholders and 160k+ candidates, passing the CFA exams will become so widespread it may even become the requirement for even getting your resume looked at in a decade or so. Your experience would have to carry you the rest of the way to an offer. Without experience, you’ll get shot down at the second cut.
I am also looking for a relevant break/job (without success). I spoke to someone in my company who is an analyst (and a CFA charter holder). Her take was in earlier days it was considered quite valuable (and not many had it) and now you are below the level of playing field if you don’t have it (i.e. everyone who applies for job has it and bring in additional stuff e.g. work experience) … so a not so happy story continues for quite a few …
I’m young (early 20s) and I have some pretty good stuff on my resume (not ivy league, but good stuff, a little buy side experience, a good story) and having level II on there has helped a lot. If your story does not make your interest in and aptitude for finance apparent the CFA isn’t going to help you, but if you’re on the right track it will definitely compliment your story. Just my two cents. Also, maybe before the CFA you were 100 resumes down in the pile and now you’re only 20 down. If they only call the top 10 you’ll feel like a total failure and won’t be able to see that it has helped. Also, if you love finance you won’t see the CFA as a draconian exercise. I’m a much better investor for having passed the first two levels. Looking forward to the third.
I am L3 candidate and it definitely helps, but depends on what you are looking to do. If you are looking to go straight into asset mgmt or whatnot, I am sure you will face plenty of stiff competition. I work in fund admin as a manager am am looking to change role. Recently went for an interview and after confirming I had passed both exams first time was offered a job right there in the interview… Was looking at a list of the portfolio managers in our company and almost all held the CFA. It helps.
My situation is same as some of the other people here. Even I have been looking for a job since the last few months and nothing’s been working out for me ( I cleared L II this year). Well, I’m in India, so probably it doesn’t really have much value here. Also I’m into real estate advisory currently, so even at my current job they don’t value the designation much. Anyway, let’s hope something works out sooner or later.
Working in asset management, trying to make a move to research or sales and trading…the charter got me an interview, we’ll see about the job (fingers crossed).
PeteyPete Wrote: ------------------------------------------------------- > Working in asset management, trying to make a move > to research or sales and trading…the charter got > me an interview, we’ll see about the job (fingers > crossed). This is the first time I will hear someone say they want to move from asset management to research/sales. All the research guys around me all want to move over to asset management, where life is “easy”.
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Yea same here. I hear a lot of sell side wanting to go to buy side… not as much the other way around
mrdjb in which field/role did you apply for? Was it completely different from fund admin?
use your common sense guys. if you have 0 relevant experience no test is going to change that and magically open doors for you. the CFA gives you a thorough understanding of a number of topics that will be relevant to the job you want, so once you make the effort to speak with people in that field you can sound knowledgeable and passionate. only networking will allow you to do a complete career switch such as IT -> IM.
KS777 It was in fund admin but and it would have been a great move if I wanted to stay in that area. I’m trying for product development and it seems to be going down well there too (it seems). Obviously, being a total legend helps to! Anyway, will confirm if I get the position (fingers crossed!!!)
In my experience achieving your CFA III greatly increases your chances of finding a job in asset management… 1) Equity analyst who I sit next to worked in the back-office for 10 years, they took their CFA exam, and moved into front-office research. 2) Equity analyst used to work in fund-support doing performance based stuff, took their CFA, asked the company to give him a shot (or he would find someone that would), they did and they are one of the best analysts on the platform. I am not saying it is easy, and it might be tougher in big banks where moving around is more restricted, but it is possible…