Don’t go past level I. Why? After that it becomes useless dribble. Additionally, CFA’s prestige disappeared 10 years ago. Since then too many amateurs have been let in and the CFA Institute has become fat and lazy. (And rich I might add.) Why should you trust me? I am one of the best at what I do - of the 20+ analysts in my space, I was the only one to place a sell on the sector in late 2007. Furthermore, last September I recommended investors get back in. Add to that I have been at this for almost 10 years and the whole time working at top-flight institutions. If this is true, why do the big banks push the CFA? In truth, they do not want to however in an industry with as much turnover as finance it makes sense. Think if you were a manager why would you spend the time training underlings? Your job is constantly on the line and the performance of your associates has little to do with your financial compensation. Moreover why train somebody up to replace you? The more expensive it is to replace you the longer your shelf life. So in a weak attempt to full the void HR pushes the CFA. Other than some government institutions - Calpers or GIC - the CFA designation will be of little help to you. In fact for some upper level managers the CFA designation is a negative as they have either had a bad experience with one (see: too many amateurs) or they have already have enough CFAs on staff and want to limit the talent overlap. What would I do instead? Take up golf or sailing. Get into fine wine or art. The more interests you have in common the more likely you are to get hired. And spend some money on your wardrobe. If you can afford it nothing looks better than a custom made suit.
Obviously failed in June.
k will do thx
> Obviously failed in June. Nah, probably just got laid off from a job he never belonged at in the first place.
A lot of those points are true and make sense. Except I cannot see the CFA acting as deterrent it may not hep you much, but for sure it will not hurt you based on the people I spoke to. Also the last point is completely true, this is a relationship business not a who can pass the most tests business. If you get angered with you hear that, you really need to get a grip. PS, Shooty this should be posted in the general forum. It would be for much more valid discussion there.
bid_offer_shark Wrote: ------------------------------------------------------- > > Obviously failed in June. > > Nah, probably just got laid off from a job he > never belonged at in the first place. May be his wife left him for a CFA !
adehbone Wrote: ------------------------------------------------------- > Also the last point is completely true, this is a > relationship business not a who can pass the most > tests business. If you get angered with you hear > that, you really need to get a grip. Yes, I’ve seen Lehman working that way, get ready to welcome the change that’s going to come, Wall Street Sequel is coming in whole new form !
I hate to read comments like this … I think the profession CFA prepares you for is much like performance based … CFA provides you with the tools if one can’t use them proper… it depends more individually… I think the people should do what they like to do because that gives them satisfaction If someone chooses going for CFA i think most will be because they love investing , ofcourse there can be many other reason but i dont think anyone will invest 3 years of their life to take an exam and learn something which they don’t like… So please if you are fed up with it it’s totally an individual perspective … When you go out and tell people wat to do and not … then I will have to disagree with you respectfully … We are working our a$$ off on this exam and dont want this type of discouraging comments and I think what I am learning at CFA i can’t learn anywhere else and what else an education is supposed to provide you *Sighs* To hell with those investment bank managers … fill in the blank WE WILL SET A NEW WORLD ORDER
Is that you Meredith Whitney?