If we are to seriously answer your question, your going to need to more specific. my question to you is what “value” did the CFA have in the first place? What did the CFA designation bring someone before that it does not bring now? If you are refering to that fact CFA charterholders were looked upon as having a higher degree of knowledge of finance, then what has really changed? I still see this as true in the marketplace. If you are refering to the fact that the CFA program gives the best, most current tools in the industry to its candidates, then I say this is still true. People assume that a CFA charter automatically makes someone a good investor. This could not be further from the truth! there are plenty of people with investment knowledge that cannot apply it - or forget about using common sense (both are things the CFA tests have difficulty testing). The only thing a CFA charter will do for you (and has ever done) is help you get in front of someone so that you can demonstrate your skills. If your ability to convey them to others is diminished having a charter will not help you. I’m sick and tired of people assuming the CFA is the answer to their problems. It won’t make someone a good investor - it just gives you the tools. there are many very good investors who do not have a CFA charter out there, and I’m sure the are poor investors with a charter. Just look at the returns of LTCM from the 90’s - a bunch of Phd’s that lost over 80% of their investors money. They had the tools to invest well - they just used them poorly. I think anyone that asks the question “has the CFA lost it’s value” needs to sit back and really think about what realistic “value” they expect the CFA to have. I’m serious, ask yourself that question - then come back and rephrase your question. You’re asking these people to value something that, in the right hands, is invaluable. However, in the wrong hands - will destroy value. This is what employers want to know and they will ask themselves “Ok, so you are a charterholder - what are you going to do with it?” It’s not that the charter has lost value - it’s that employers have evolved and have come to the realization that there are different types of people holding charters. Value creator or value destroyer - we all have the same tools. It’s how you use the tools that makes you a great investor; having the charter never will. This may be more than 2 cents, Heck it might be a million - or 0 depending how you “value” my opinion.
FinNinja, your opinion is highly “valued” To me value is getting a job that puts bread on the table in these tough times. A year after graduating from a AACSB accredited school; with decent grades, I still can’t get a job. So thats value for me, getting a darn job in Finance.
you have to push it to the limit ahmadmadofffahmadmadoff
kinda off topic - i had a potential buy-side employer (generalist assistant position) ask for my CFA breakdowns. Passing is not enough…total domination is required. There is value in CFA charter. CFa is not a panacea and will not be solely responsible for landing you a lucrative job.
Mention me a professional certificate that is more difficult than the CFA. If you can answer me then you have the answer for your Q. P.S. please don’t tell me the “research” finance Phd. is more difficult
Nightmare55 Wrote: ------------------------------------------------------- > Mention me a professional certificate that is more > difficult than the CFA. > If you can answer me then you have the answer for > your Q. > > P.S. please don’t tell me the “research” finance > Phd. is more difficult The only thing I have ever heard approaching the difficulty is possibly the actuarial exams, but having no experience with those, I don’t know… I don’t think anything “school” relayed is a difficult…school generally doesn’t cover the breadth of the CFA and if it does, its spread out over a long time period and fed to you in spoonfuls…my MBA was waaaaaay easier than CFA
Ive heard that as well about actuarial exams being killer. Like you though, I have not taken ot studied for them, so no clue if true or not. And yea school is pretty easy because the material is tested one at a time. Level 2 is not only more encompassing than my entire undergrad finance education, its all the finance and accounting courses lumped into one huge final exam…
Having worked for the chief actuary of one of the largest pensions in the US, I can say that that set of tests is way harder than anything I’ve seen re: CFA LOS.
all this ish is for the birds, you aint nothing but a vulture ahmadmadoff
bluekayaker Wrote: ------------------------------------------------------- > I think it’s worth it. I’m not paying (my employer > is) but if they weren’t I’d pay for it myself. > It’ll add tremendous value to my career. I’m an > actuary first off so this is an “add on”. Ditto. And actuarial exams are tougher.
It’s a complete waste of time. I’ve been saying that since before I began studying Level I, but I had nothing better to do with my time. I promised myself that if I pass Level III I would never use the “CFA” designation or mention it to anybody. Also, I won’t apply any of the knowledge I have gained through the 900+ hours of studying. That would be an unfair advantage over others who have not wasted 900+ hours to earn a charter.
Inventing Facebook > Studying for CFA Studying for CFA > Wasting time using Facebook As I am not not even close to having brilliant ideas I am stuck with working my ass of studying…
Butterich Wrote: ------------------------------------------------------- > Inventing Facebook > Studying for CFA > > Studying for CFA > Wasting time using Facebook > > As I am not not even close to having brilliant > ideas I am stuck with working my ass of > studying… +1 /thread
^^ I hope youre not implying that Facebook was a brilliant idea.
brilliant arguable profitable definitely…2 words son lanjahray models
Butterich Wrote: ------------------------------------------------------- > Inventing Facebook > Studying for CFA > > Studying for CFA > Wasting time using Facebook > > As I am not not even close to having brilliant > ideas I am stuck with working my ass of > studying… I’m barely creative enough to put chocolate sauce on ice cream, and sometimes I think if I ever had a Facebook quality idea, I wouldn’t notice anyway… Like you, Back to the grind…
I used to think the CFA was worth something. Now, I’m almost done and I know that it was largely a waste of my time. But who knows, maybe it’ll get me a job someday. I hate being a receptionist.
ahmadmadoff Wrote: ------------------------------------------------------- > Give > your 2 cents or ignore it. for the record, i ignored it - in case not initially obvious from me not replying to the thread before.
pimpineasy Wrote: ------------------------------------------------------- > brilliant arguable profitable > definitely…2 words son > > lanjahray models One important thing I would like to add: lanjahray models and/or having a 9 or 10 as a GF > Studying for CFA
I think the OP’s question as to worth is in the context of salary. Will you be rewarded a higher paying job after acquiring the CFA designation? I worked for Lehman Tokyo in it’s final 2-years leading to the Namura buyout of Lehman Asia. I took a break and went to school (L). Since returning I haven’t been able to land a worthy position in IB. At the moment I am working for an alternative energy company, but hoping that the CFA does provide whatever I or my resume is missing to get back into the field. It’s a tough market, especially now.