Taking level I in June, about half way through the material and wondering why I’m doing this. Seems most are making huge sacrifices, what is your motivation? Thanks
My current job sucks and I like learning stuff.
Aside from world domination… -Career opportunities/financial security -For my resume -People have told me I’m pretty smart (so what the heck - I heard somewhere that this test is pretty challenging) Ok well #1 and #4 were a joke. My personal philosophy has always been that you can’t reap the benefits without putting in the hard work. Hard work weeds out the people who don’t have the right stuff and don’t want it bad enough. And quite frankly no one is going to tell me I am not cut out for what I want to do in 10 years. This is just one step in the process of realizing that dream. " The man who follows the crowd will usually get no further than the crowd. The man who walks alone is likely to find himself in places no one has ever been."
ValueAddict Wrote: ------------------------------------------------------- And quite > frankly no one is going to tell me I am not cut > out for what I want to do in 10 years. If you already know what you want to do in 10 years and think you are cut out for whatever it is, why wait? Is the CFA charter really that critical to your achieving whatever it is to which you aspire, especially when there are many thousands of them (and growing)?
I’m already in a cushy research role with a BB. Obtaining the charter will not get me more money here. It’s just window dressing at this point.
What sector do you cover? pimp Wrote: ------------------------------------------------------- > I’m already in a cushy research role with a BB. > Obtaining the charter will not get me more money > here. It’s just window dressing at this point.
Energy - Oil and Gas
i don’t know wtf i’m doing it for, i don’t even want to be a PM
numi Wrote: ------------------------------------------------------- > ValueAddict Wrote: > -------------------------------------------------- > ----- > And quite > > frankly no one is going to tell me I am not cut > > out for what I want to do in 10 years. > > If you already know what you want to do in 10 > years and think you are cut out for whatever it > is, why wait? Is the CFA charter really that > critical to your achieving whatever it is to which > you aspire, especially when there are many > thousands of them (and growing)? Well do be quite honest I went to a slighty above average undergraduate program - and I am 24 years old - so no one is going to give you the keys to your dream job for either. I don’t value the CFA charter that highly. I find most of the material an exercise of academic mumbo-speak. It’s something that will give me credentials to get in the door.
For me… I think the reason to do it is that you might otherwise wish you had it in the future, but it’s human-nature to want to get the pain over with now. After June, I won’t take any more exams of any substance…
What is BB?
Etienne Wrote: ------------------------------------------------------- > For me… I think the reason to do it is that you > might otherwise wish you had it in the future, but > it’s human-nature to want to get the pain over > with now. After June, I won’t take any more exams > of any substance… I second that too. Might as well do it when you’re young (well if those on the board are). I also want to clarify my other response about “why aren’t you doing it now.” I am not disatisfied w/ my current role. I already work where I want to be in 10 years. It’s just in a more senior/quasi independent role. I do relatively well for someone my age (but I find disclosure of current comp. to be petty/unprofessional and it just throws people into a contest of “ohh well I am better than you/make more than you”). Let’s throw the 2nd grade antics out. But I also found numi’s comment as such that it was intended to pick a fight. If you have your dream job at 24 then I believe that you are an underachiever. If I took your comment out of context I apologize in advance for my misinterpretation.
Appreciate the posts thus far, but it seems my question has gotten a little jumbled. I had hoped to hear people speak of the CFA as being part of their larger career plan, or motivated by some expected increase in future compensation from their employer, etc. and was surprised that anyone would think it window dressing (given simply the time commitment involved). CFAI purports that although most claim the program is the toughest thing they have ever done, it also ranks as one of the most satisfying things they have accomplished. Is this propaganda? Are people blindly putting in hundreds of hours of work with no sense of why they are doing it? Or maybe it is so numbing that people can’t remember why they started in the first place?
I am doing this to get more into a financial role…I come from an Audit background (big 4) and industry financial analyst role. I am a CPA and have a masters in finance but have found it very difficult to break into a true finance role (either investment related or valuation related). So I have been doing this as well as some VERY part time financial statement analysis for a small M&A firm locally (for the Buyers Book). So my goal is very simple: Open up doors and at least give me a shot to not be discounted or put into the accounting bin right out of the gate. Plus, I like to stay as busy as possible (I have my own business as well…a couple of them). I have seen level I already help, if only a bit. Some of the roles were more consulting and I wasnt too thrilled about, as I would probably be pushed for the the accounting process type work (just a guess) and not the DD/Valuation work, and then recently had my third interview with Greystone (old folks homes) in a role that is completely different than what I do now (in a good way) with some interesting dynamics. So at least this is a good sign…and in the interviews I have had a few people comment on it having that (working towards that) by itself and in combination with CPA. With any luck I can get the Charter by the time I am in my early 30’s and if (I am 27 now) my next role doesnt quite fit, I will have other doors open. If not, it will still be worth it. But it is about to be decision time for me…
Well, It is all about the money in the end. I just want to make a lot of money, and I don’t think I Financial Services is going to make me rich, so I will eventually be trying to get into Real Estate, but I’m doing CFA for the purposes of providing me with a back up plan, so that I can at least make a reasonable living if I’m unable to succeed somewhere else.
I’m hoping it will help my resume for BOC governor in like 30 years!!! jk
Reasons: -continued professional development -continued personal development -I have an MBA but that didn’t really teach me how to rip apart financial statements properly -shows employers you know your s**t -shows employers you are a hard worker, self-starter, know how to push yourself -even the stuff that isn’t directly relevant to work is largely good to know -connections through the CFA society -jobs through the CFA society -I’m a masochist
I am one of no background people. I do not even work in finance industry now. I have to admit my initial intention is quite naive, I thought this would help me get a good job. But over time, I realize this is just part of process. CFA is good and cost effective way to build a good knowledge base. But I think I need a lot more than just passing CFA exams to get to where I want to be. It also lets me to see which area of finance I want to work on in the future. For me, it is Quant analysis. Overall I enjoy the process, it forces me to build a good study habit. For me, CFA study is just a start. I still have a long way to go. I will hit those Quant books real hard after level 2 in June.
these days CFA charterholders are a dime a dozen… i think it boils down to the question: can u afford NOT to be a CFA charterholder?
^ Yep, I totally agree with that.