Hello all Seek your opinion/guidance about CFA, and expected career benefits. Currently I am working for a bank in its Credit Risk group, and would like to make a move to other function such as Corporate Finance/ Asset Management/Investment in the future. I have worked in both Commercial/ Consumer Banking side so far. I have an earlier Engineering/OR education. I am 31. I have been thinking of an MBA with a focus on Finance, however I feel CFA will be more appropriate given its stronger focus on the above areas. Your opinion? Also do you think it is a good choice at this age? What are some of the career moves that are open to me after CFA? Can CFA be useful in making a career shift at this time, or even expect some advangtages in my current field of Credit Risk? Also do you think a self-study program is as useful as a class room program such as an MBA? Pls advise. Thanks MM
The self-study program is superior. and Separating the test giver from the teacher is the best concept since separation of church & state. WillyR has good comments about CFA vs. MBA. I’ll never do it justice. I’ll go out on a limb and say that an MBA is more ““touchy feely, “I’m ok, you’re ok,” let’s hug and discuss something academic”” whereas the CFA is more like a huge test that you have to study & learn a lot of stuff to pass.
CFA Pros and Cons IMO… CFA Pros: Confidence, Credibility, Practical Knowledge, Profitabilty*, Arguably a better value than an MBA/MFE/MSF* CFA Cons: Not a Guarantee of Anything, Loss of Social Life, Increase of Stress, Loss of Girlfriend, Is becoming more of a commodity. *Unless your degrees are from brand name, cream of the crop programs. With respect to age. My mentor did not enter the securities business until approx 30 and, did not begin CFA until 32. He retired in his late forties early fifties as CIO of a boutique with roughly 50 billion AUM. At 26 and still looking to get my foot in the door, he’s my role model. Success starting late, can be achieved. Of course, I don’t waste time on dreams of being some Goldman or DE Shaw hotshot, but becoming a competent working analyst that adds enough value to his firm and clients to make career out of it. I am sure I can accomplish this. If you, or anybody, wants it bad enough, and are willing to develop the skill-set, you will probably make it.
^^^ You think of $50bn as a boutique?