Hi everybody,
I want to figure out if I should pursue CFA charter. I used to think that passing all three exams would help me to get a foot in a door, nothing major just some sort of position (no matter how little) that I can build on but after spending some time on this site, It kind of confirmed what I already believed in and that is that it won’t help my chances.
Since, I am 28 years old and it’s too late to get into finance because most of the time people get recruited right after college and train them into specifics of the job and it’s been four and half years since I graduated from college, so I kind of missed that train (not for lack of trying). My feeling is that, they will always prefer candidates from top universities, even if I have all three exams under my belt because they’ll have age advantage and would just prefer to train them and there simply won’t be any room for candidates like me.
Another thing, obviously is that recession caused so many layoffs in finance (and everywhere else) that I will be competing with people who have tons of more experience and on top of that have either MBA or be CFA chartholder, for those same entry level positions, since it’s desperate times and having a job is better than no job at all. It’s either them or I will be competing who is fresh out of top university, in both cases employers will prefer them over me.
So, there are simply not enough jobs around for me to be able to squeeze into the industry lol… And me being in New York city won’t change that fact, even though it’s considered one of the financial capitals of the world but there is also tons more competition and I will be competing with the best of the world because too many of them want to be in New York causing too much supply of excellent candidates and not nearly enough of the demand .
Having said all that, it’s still hard to believe that passing all three exams won’t do anything for me because I can’t think of many things that are harder than those exams, considering how they are structured and everything else.
I would greatly appreciate your thoughts in my analyses and show me where I am wrong or (most likely) confirm that it would be big waste of time for me to study for those exams.
Thank you in advance.
Greengrape, well, I have been working and work right now as well, been working since 17 nonstop. It’s just nothing finance related. Right now I am in promotions and marketing as Brand Embassador, it really is bs job with fancy title but it pays bills. I think my communications skills are good and I guess I can claim my current job improves it. Cpham, yeah you are right, I don’t plan on studying my @$$ off for just kicks and giggles… I cant get charter without experience so my question is will it get me related job in order to get a charter after passing those three exams. bpdulog, wow that really says a lot! I mean you passed all three and you already work in the industry and still can’t get out of your specific field and get into what you want. And are you from New York? bc I remember you saying something abt astoria… haha dokerulu33, I hear you, man. Are you in finance now or have you passed all three exams? As of me, I don’t know, I have a gut feeling some day I could’ve made a good pm only if somebody gave me opportunity to do all the hard work and grow into that position. I identify more with George Soros style of investment. ws, I like finance but it’s different from loving an industry. I mean it’s hard to love an industry that brought country to its knees and probably I’d be doing a lot better than I am doing now(and so are millions of others), if not for that financial mess. And like I said before the point of passing those exams is to get into industry, since, for me there is no other way to get into it and then get all the related experience in order to get a charter… I want to get a foot in a door and have a career, I don’t mind it taking longer than usual as long as i am on a right path and have a career. Builders, I remember few yrs back talking to this guy at my work he was retired and worked his whole life in finance and he made a real big deal out of CFA. Saying that if I passed all three, I wouldnt have to worry abt getting a job, he also talked abt how hard it is and that even lawyers can’t pass those exams. At the same time, he did say how luck is more important than any MBA or CFA combined which I know and knew back then that he was 100% right on that. But you are right, there are lot of people who passed all three and cant find a job. It’a just different time and very sh!!ty as well. Right now I have no direction like cpham said I am on free way and dont know where i am going… I wanted to do CFA because it would give me direction and feel like i am taking concrete steps to achieve something. With such a high probability of it being such a waste of time I don’t think anybody can motivate themselves through those exams knowing that. Nobody does it for just love of it, you need other reasons as well and most important reasons are feeling of accomplishment and recognition. Maybe I should just stick to my job read lot of marketing books and try to accomplish something in that industry. But I am still thinking abt it all, so I d appreciate more feedback. Thanks again for your comments and keep them coming 