CFA is tougher than CPA I believe and at the same time more interesting. I think that CFA has not got much attention coz there is no placement in companies like MBAs or CPAs get. If you are a CPA …that is enough to convince that you know some accounting…but CFA doesnt convey the same.
Another problem with the CPA vs. CFA argument is that the financial industry is over diluted with worthless designations that don’t mean sh!t. Accounting (Tax, Audit, Law, etc…) probably doesn’t even scare 30% of what the investment world offers. There are far too many rinky dink 3 letter acronyms that you can receive with a couple hours of effort.
jackofalltrades Wrote: ------------------------------------------------------- > A headhunter I knew dinged a candidate > for an Strategic Planning role just because she > did not have the letters, CFA. Jack…could you explain more about headhunters. ie what exactly they do, how successful they are, how to obtain one, have you ever used one…?
You do not look for headhunters. They find you. And, yes… I have used headhunters before. They pretty much try to ship your big arss to another company thereby earning a fee from the target company. They are very successful at placing an individual since they talk directly to the hiring manager.
I talk to an admissions officer from LBS a couple of weeks and his short answered is yes: being in the CFA program is very important. This guy goes through all candidates and he knew perfectly well what the program was and what it entailed. I’m guessing it will be different for non-top schools and/or schools not finance oriented (but why the hell do you wanna go there?) One of the founders of the CFA Institute was a Columbia alumni and teacher and they have a CFA Club on campus, do you think admissions don’t know about it?? hell yea! I really don’t care that CPA’s don’t know what the CFA is. I just care that people in finance know, and more and more so do.
I think the CFA shows that you can be dedicated for 4 months and pass an exam. I’ve talked to people who have their charter and i’d say about 65% of them do not remember the stuff and are not very intelligent. I think all the CFA shows is that you test well. I an know analyst who is ridiculous and make bank failed L1 twice, L2 once and finally said F this, im going back to making loot.