is it worth to be a CFA charterholder?

[Straddle]

I did my MBA (full time) from one of the most prestigious universities in India. I am a CFA level 3 candidate and have also passed both the levels of FRM. Yet I am not getting a call from any of the IB/investment management firms simply because my work-ex is not quite relevant to the jobs I am seeking. So, I am not sure how much value CFA adds if someone is looking for a role change.

[NANA_Hachiko]

@Fredo

I have recently also sat for the CFA Level 3 exam, I’m not sure about my performance, but there is a question constantly bothering me. Will becoming a CFA charterholder add value to my career?

I know you all studied very hard, spent a lot of time, and had lots of stress in the process (including me) while studying and sitting for the exam, but just think about it. You pay a lot of money for registration, exams (some pass at first attempt, others not), you spend several years of your life to study, give up the valuable time of your life which you could spend with your family and friends, give up fun, gym, and partly your health, in the end just to put those three letters at the end of your name? In addition to all of these hardworking, commitment, and stress, you have to pay $250 every year just to keep those letters there. I have recently been to many interviews, and I can say that passing the CFA exams doesn’t make any difference. They are still going to ask the same questions, and if you have a good knowledge, and relevant experience, you can answer the questions and qualify for the job, you don’t need to have any charter.

Isn’t it just better to have a Master’s degree, MBA, or PhD, which gives you a specific knowledge and academic degree, while you don’t have to pay any subscription fees every year? You will have less stress studying (we mostly study CFA while working, which adds stress), get to increase your network, and still gain the same knowledge. I don’t see any benefits of becoming a member in any society, and I think that the charterholder reference should be given without any fees, or there should be any additional advantages for those who pay the fee. Please, update me, if I don’t have any additional information.

I am surprised you only have this discussion with yourself now that you are a Level 3 candidate.

I look at it this way, unless you are already in a financial role and your company asks you to write the CFA exams, there is no guarantee that what you study will automatically land you a job in related field.

MBA doesn’t, PhD doesn’t, law or any master degree doesn’t.

In terms of money, i don’t know if you actually did a NPV analysis to compare a typical master degree tuition and cost for getting CFA (annual membership included), i would say the cost of a master degree far exceeds the cost of getting an CFA, especially if you include the loss of income during the master program.

In terms of time commitment, that is just a life decision eveyone makes, some put their education and career higher than others, some are okay to take a step back from their careers for their families. But whatever I do, i believe in no regrets. I make decisions that make sense to me at the time, and if it doesn’t go as planned, it’s just part of life. i could’ve done other things instead and they could’ve been equally unsuccessful, so there is no point of questioning yourself.

bottomline: education is never a bad thing.

Hope that helps!

NANA

[Victoryeo1984]

@Straddle

I did my MBA (full time) from one of the most prestigious universities in India. I am a CFA level 3 candidate and have also passed both the levels of FRM. Yet I am not getting a call from any of the IB/investment management firms simply because my work-ex is not quite relevant to the jobs I am seeking. So, I am not sure how much value CFA adds if someone is looking for a role change.

I just finished master degree in economics and i am a CFA level 3 candidate as well. My work-ex is in software programming. I apply for many finance jobs and get no response. It looks like CFA and Master degree won’t help me change my career.

[indigonation5]

@NANA_Hachiko

@Fredo

I have recently also sat for the CFA Level 3 exam, I’m not sure about my performance, but there is a question constantly bothering me. Will becoming a CFA charterholder add value to my career?

I know you all studied very hard, spent a lot of time, and had lots of stress in the process (including me) while studying and sitting for the exam, but just think about it. You pay a lot of money for registration, exams (some pass at first attempt, others not), you spend several years of your life to study, give up the valuable time of your life which you could spend with your family and friends, give up fun, gym, and partly your health, in the end just to put those three letters at the end of your name? In addition to all of these hardworking, commitment, and stress, you have to pay $250 every year just to keep those letters there. I have recently been to many interviews, and I can say that passing the CFA exams doesn’t make any difference. They are still going to ask the same questions, and if you have a good knowledge, and relevant experience, you can answer the questions and qualify for the job, you don’t need to have any charter.

Isn’t it just better to have a Master’s degree, MBA, or PhD, which gives you a specific knowledge and academic degree, while you don’t have to pay any subscription fees every year? You will have less stress studying (we mostly study CFA while working, which adds stress), get to increase your network, and still gain the same knowledge. I don’t see any benefits of becoming a member in any society, and I think that the charterholder reference should be given without any fees, or there should be any additional advantages for those who pay the fee. Please, update me, if I don’t have any additional information.

I am surprised you only have this discussion with yourself now that you are a Level 3 candidate.

I look at it this way, unless you are already in a financial role and your company asks you to write the CFA exams, there is no guarantee that what you study will automatically land you a job in related field.

MBA doesn’t, PhD doesn’t, law or any master degree doesn’t.

In terms of money, i don’t know if you actually did a NPV analysis to compare a typical master degree tuition and cost for getting CFA (annual membership included), i would say the cost of a master degree far exceeds the cost of getting an CFA, especially if you include the loss of income during the master program.

In terms of time commitment, that is just a life decision eveyone makes, some put their education and career higher than others, some are okay to take a step back from their careers for their families. But whatever I do, i believe in no regrets. I make decisions that make sense to me at the time, and if it doesn’t go as planned, it’s just part of life. i could’ve done other things instead and they could’ve been equally unsuccessful, so there is no point of questioning yourself.

bottomline: education is never a bad thing.

Hope that helps!

NANA

Well said NANA!

[VWJETTY]

big dreams require big sacrifices

yes…that’s my quote

[Luan_Le]

Correct!

[Mikewinner]

this designation is like a big scalp that you proudly hang around…