Markets are dying, and it seems that over the next couples years (or more), it’s not going to get much better. I think we have yet to see the bottom of this, especially after what’s happening in Europe recently. I’ve been thinking that this is a time when many would be thinking about going back to school/studying. I’m wondering how it would look if someone held, say, a CFA, CPA, FRM, and that person only has a few years of work experience (assuming it’s work experience in a relevant area). Would some people consider him/her a loser? This is an extreme case, just want to here some thoughts. I’m only doing CFA now, but I’m thinking about doing one more, may be CPA.
I’m not sure why you’d think people would consider you a loser. I think that the combinations that you mentioned fit nicely together. I must admit that I’m biased regarding the CPA certification because I am one. One of the main reasons that I got my current position was because of the two designations that I have, CPA and CTP. My company was looking for that specific combination. It would be easy for me to imagine a company looking for the CFA, CPA combination. As a LII candidate, I’m banking on it. I personally feel that the CPA will be a lot easier (not easy) to attain. Especially now that they allow the candidates to take one part at a time. Best wishes for success in whatever direction you decide to go in.
Geez, imagine sitting in an interview after this debacle and saying “I was laid off, but I love finance. I used the time to study all this stuff and succesfully got all these certifications”. Which part of that would someone say “loser” to? Only the part about being laid off, but the world is full of fine people who have been laid off.
While it’s true it is impressive to have all of the certifications, I look at it as someone who is book smart and things in the real world run much differently than the books. However, if you have nothing else to do, might as well go for it. Of course this is coming from someone who failed level II, so take it fwiw.
lwebb01 Wrote: ------------------------------------------------------- > I’m not sure why you’d think people would consider > you a loser. I think that the combinations that > you mentioned fit nicely together. I must admit > that I’m biased regarding the CPA certification > because I am one. > > One of the main reasons that I got my current > position was because of the two designations that > I have, CPA and CTP. My company was looking for > that specific combination. It would be easy for > me to imagine a company looking for the CFA, CPA > combination. As a LII candidate, I’m banking on > it. > > I personally feel that the CPA will be a lot > easier (not easy) to attain. Especially now that > they allow the candidates to take one part at a > time. > > Best wishes for success in whatever direction you > decide to go in. lwebb01 I take it you are in the restructuring space. If so, I would be interested to see how you like that line of work. I’m in bval/restructuring on the buy side currently and would like to hear how things are on the consulting side.
trek7000 Wrote: ------------------------------------------------------- > , I look at it as someone who is > book smart and things in the real world run much > differently than the books. this type of thinking is the exception, not the rule. Go for the certs. Im doing CAIA as I look for a job and having passed level 1 2 days ago, it is worth it. I mean, if you have the time, you have the time. Once you get into a full time role, meet a girl, etc, you will wish you used your free time more creatively.
I was thinking to myself only yesterday that every friend of mine has a series of letters next to their name. I think that the letters are losing their meanings. persoanlly I only give value to the big ones like CPA, CFA, and most importantly FSA/ASA.
These certifications are most useful for telling someone that they should give you an interview. Assuming you know the stuff that these certifications say you know, you’re likely to come across as knowledgeable and qualified. The rest is about whether they like your personality, and whether you fit into the culture. They also could be concerned about whether you have deep knowledge of a specific area, but here you often have a chance to demonstrate that you can come up to speed quickly.
needhelp Wrote: ------------------------------------------------------- > I was thinking to myself only yesterday that every > friend of mine has a series of letters next to > their name. I think that the letters are losing > their meanings. > > persoanlly I only give value to the big ones like > CPA, CFA, and most importantly FSA/ASA. What do you put on your business card? needhelp, CFA or needhelp, CFA, FSA?
My manager has a JD, MBA, and is a CFA charterholder. In my experience, many people who have multiple designations have worked in different areas in the past and acquired new credentials as they moved from one field to the next. I’m not saying that you should give up on every credential, but try to focus on 1 or 2 that will be applicable to the area you work in. I think it will be viewed as positive if you take the time to pass some CFA exams if you want to go into finance, but I don’t see the value of the CPA unless you want to go into accounting or auditing. Besides, to become a CPA you have to have worked in public accounting. I’ve met some CPAs at some seminars and other events related to investing, but oftentimes on their bio, they were in public accounting for a number of years and then shifted into finance. I guess my point is, don’t think that taking 2 years off work and passing the CFA, CPA, CAIA, FRM, PRM, CFP, ASA, FSA, and FCAS exams will impress anyone at all. [Anyone remember bostonkev?] Work experience is a very important piece of the puzzle.
< CFA, CPA, CAIA, FRM, PRM, CFP, ASA, FSA, and FCAS . > : ) - can u imagine trying to squeeze that into a business card??
Even worse, deciding what order to list them…
bchadwick Wrote: ------------------------------------------------------- > Even worse, deciding what order to list them… alphabetically
Appreciate the comments. Most of you guys share my view. Having a long list of certifications will not be much of a help, especially if you lack other soft skill/qualities. But again, as lwebb said, the cfa and cpa can be a good combination if one working in m&a or hedgies… I’m currently a credit analyst at a non-BB, and sometimes do private business valuations as part of my job. I have a masters in finance and now an L3 candidate but feel that the level of accounting knowledge from cfa is not even close to sufficient, that’s why i thought of going for the cpa (ultimately for the knowledge, but the cert. is also a bit luring). I hope to make a move to ibd or buyside in a couple of years (if there is a legitimate buyside by that time). I never intended to go into this long spree of certification shopping, but can’t deny the fact that it is a bit addictive. after all, knowledge is something nobody can take away from you. Also even if markets start to recover in a couple years, peeps around me say that making a move to buyside or m&a will be a lot harder than it has been in the past. so bottom line is, i think that having a long list of certifications is not bad at all if one had the time and energy to do them without sacrificing their entire social life. but just felt a little uncomfortable imagining my business card having a list of certs. after my name. It would seem impressive but doesn’t really look ‘cool(?)’ i can’t think of the right word but you know what i mean 
anyway, thanks for all those helpful comments. glad to see that many share my thoughts and somehow feel like we are in the boat lol!
I heard that after May 2009 or something you’re gonna need an Accounting Masters degree to take the CPA.
steveOW Wrote: ------------------------------------------------------- > I heard that after May 2009 or something you’re > gonna need an Accounting Masters degree to take > the CPA. the rules are wildly different for every state…where did you read this? Or you mean only in NY?
Just from some accounting student. yes, nyc.
I think it’s only for NY state (not sure otherwise, though)
I’m going to warn people again. Anybody that goes to get their MBA during these crisis times and pay the huge tuition is a FOOL. Tuition costs are going to PLUMMET. It’s fait accompli.
cfa_gremlin Wrote: ------------------------------------------------------- > I’m going to warn people again. Anybody that goes > to get their MBA during these crisis times and pay > the huge tuition is a FOOL. Tuition costs are > going to PLUMMET. It’s fait accompli. it is an opportunity cost question, dude. the alternative of not going may be worse.