I finished my Bachelors in Accounting Last year, and will be writing my level I in June in 2009. I was wondering if there are prospects of getting a decent job in the industry with clearing level I? Also, since I have done Accounting , would it be safe to say that it will be easier for me to get the grasp of the accounting material Thanks
CFA 1 will not help you get a job.
People will take you a little more seriously when networking, but that is about as good as it gets.
After Level I you should be fine for CFO level positions, if you want to make it to CEO though, you’ll have to pass Level II.
Yeah I mean I would concurr. CFA Level 1 means you passed AN exam. You didn’t pass all three and you don’t have the qualified work experience necessarily. Willy
If your undergrad and past experience weren’t in the financial industry somewhere, passing L1 does let people know that you know some finance basics, like simple equity valuation, bond valuation, what options are, etc… If you don’t have a finance background, saying that you passed L1 and are working on L2 does help start some conversations that could go places. But I don’t think someone is going to say. Ah look, he/she’s got L1 down, let’s go get them. If you’re already in the finance world, it probably doesn’t help you much, other than to signal that you are (presumably) intending to go for all three levels eventually.
CFA L1 can be a tiebreaker, but don’t expect it to have the same appeal as a top degree or great experience.
needhelp Wrote: ------------------------------------------------------- > ask daj. man neeedhelp, do you ever say anything useful? anyways, it helps a bit, but not a lot. It shows you are now in the game, rather than outside looking in.
Concur with bchadwick… If you have zero ex/academic experience, it shows you’re not a total idiot and don’t need to be taught what a balance sheet or a PE ratio is. Don’t think its a tiebreaker or anything else, necessarily. Level I doesn’t deserve that much stand-alone respect, as far as I’ve seen. (lots of people floating around with Level Is).
I agree with daj. The key to finding a satisfying job, and I’m in the process of doing this now, is networking. Of course, the CFA charter alone, much less passing a single exam, will not get you a job, even in the best of economies. However, it does open doors and it lends yourself credibility and a show of competence in the investment field. You also should know, while not restricting yourself from other options, where you want to go in your career (e.g. buy side, sell side, corporate finance, accounting etc.). The CFA charter helps much more in certain career pathways than others. (The CFA, though not negligible by any means, has less value on the sell side than on the buy side.)
The only upside, at least according to my experience, is the respect of other CFA Members/Candidates, and the occasional comment “you must be pretty smart, I heard that test is impossible”.
PeteyPete Wrote: ------------------------------------------------------- > The only upside, at least according to my > experience, is the respect of other CFA > Members/Candidates, and the occasional comment > “you must be pretty smart, I heard that test is > impossible”. EVERY TIME I TALK TO A CFP, THEY SAY CFA WAS TOO HARD SO DID THE CFP INSTEAD.
daj224 Wrote: > > > EVERY TIME I TALK TO A CFP, THEY SAY CFA WAS TOO > HARD SO DID THE CFP INSTEAD. LOL…funny you should say that. I’m almost through the CFP classes which are required in order to sit for the CFP exam (also L3 CFA Cand), and there are two people in my class who are in insurance sales who said they were taking the CFP b/c they couldn’t get through CFA L1.
PeteyPete, You may be able to waive out of the edu requirments if you have any of the below. Also once you pass CFA and are approved for charter status you won’t have to do the edu requirments check it out: http://www.cfp.net/become/Steps.asp#top Apply for Challenge Status Certain degrees and professional credentials fulfill the educational requirement and allow you to sit for the CFP® Certification Examination. Academic degrees and credentials that fulfill the educational requirements include: Certified Public Accountant (CPA) - inactive license acceptable Licensed attorney - inactive license acceptable Chartered Financial Analyst® (CFA®) Doctor of Business Administration Chartered Financial Consultant (ChFC) Ph.D. in business or economics Chartered Life Underwriter (CLU) PeteyPete Wrote: ------------------------------------------------------- > daj224 Wrote: > > > > > > > EVERY TIME I TALK TO A CFP, THEY SAY CFA WAS > TOO > > HARD SO DID THE CFP INSTEAD. > > > LOL…funny you should say that. I’m almost > through the CFP classes which are required in > order to sit for the CFP exam (also L3 CFA Cand), > and there are two people in my class who are in > insurance sales who said they were taking the CFP > b/c they couldn’t get through CFA L1.
I don’t know. I mean a lot of you losers got your Level 1s and still live at home. Willy