+1
I am working in the industry but not in US or UK’s. And I would not be surprised if employers in those countries don’t give a shit about it either.
I admit I am new to the industry but what I have seen is employers only care if you know English. And whether you can make money or not.
Let’s talk M&A:
Language skills: especially Russian, German, French in addition to of course English are OF VERY HIGH VALUE
CFA: Almost useless
AM and ER:
Language Skills: Highly desired (not as much as M&A though)
CFA: HIghly Desired
Period
I have never worked in the Western markets so I am not aware of what is desired over there but I have a couple of questions.
Q1) Why are you going/have gone after 10 degrees/designations/ if they are not valued in UK?
Q2) Why are not you doing networking and/or exploiting investment opportunities?
Q3) Why are not you learning Russian, German, French etc. which are OF VERY HIGH VALUE (in your own words) rather than wasting your time and money on these worthless designations?
Q4) From what I have observed, this forum is dominated by American candidates. If learning foreign languages was more important/desired than getting CFA charter in the US market, then there would be more candidates learning languages rather than pursuing CFA charter. I might be wrong but these candidates can’t be.
And finally an advice, as you may have observed, please see the CONTRADICTIONS in your statements.
I have seen a lot of person from India doing great in Finance without any certification, but some people who want to get an opportunity where they want to be from where they are at, and here only networking does not help, adding some more credibility in the CV does matter to get atleast a job interview.
Also as some persons has already mentioned here, that from because of huge competiotion, people try to differentiate themself from crowd who don’t have knowledge & ability to go through that rigorous Certification.
Also it helps as person interviewing you trust you more, as they feel you are motivated enough to put extra efforts & learn new stuffs.
Q1) Why are you going/have gone after 10 degrees/designations/ if they are not valued in UK? I have already explained this. Please read my text again!
Q2) Why are not you doing networking and/or exploiting investment opportunities? Read the comments. I have gotten my current job through networking!
Q3) Why are not you learning Russian, German, French etc. which are OF VERY HIGH VALUE (in your own words) rather than wasting your time and money on these worthless designations? Don’t put words in my mouth, I never said worthless designations! For your information I am fluent in 4 languages and learning the 5th one. Once again read comments!
Q4) From what I have observed, this forum is dominated by American candidates. If learning foreign languages was more important/desired than getting CFA charter in the US market, then there would be more candidates learning languages rather than pursuing CFA charter. I might be wrong but these candidates can’t be.
And finally an advice, as you may have observed, please see the CONTRADICTIONS in your statements. NOPE you just did not read my comments/my post properly! Now stop getting too personal, as it is childish, I asked a question that I was genuinely interested to its response!
WRONG…cost arguments are already accounted for when talking about decreasing marginal utility, just as with the diminishing marginal productivity of capital:
http://hayek.diw.de/documents/dokumentenarchiv/17/diw_01.c.83709.de/soep08_full_layard_etal.pdf
I think you are exaggerating a bit. Although I am not in M&A I know some college buddies who are involved in large real estate acquisitions in EE and they say English is the name of the game. Here in Austria many banks are highly engaged in the EE markets, but usually if they need someone who speeks Russian they just hire some poor sod from SPGU to translate - much cheaper than finding or training local people. French maybe - those ignorant p**** refuse to learn any other language.
I am fluent in 4 languages as well (three of those highly regarded according to you) and can make conversation in 3 others, but that has never helped me in my work. It was noted in job interviews, but was more along the lines “nice for you”.
I agree that I may have exaggerated a little bit. But this is one of NUMEROUS examples:
https://www.linkedin.com/jobs2/view/17379673
Do you see any mention of CFA? What about a second language? If you google there are many websites with mention of other languages. But no mention of CFA.
Simple.
Asians need to compete with Indians.
^
lol
Q1) Why are you going/have gone after 10 degrees/designations/ if they are not valued in UK?
1) To go after countless designations, which are “not valued” by employers in UK, because it’s your obsession…Great man. Awesome.
Q2) Why are not you doing networking and/or exploiting investment opportunities?
2) Wasting my time on countless designations becuase it’s my obsession and learning languages rather than making/helping my employer making money.
Q3) Why are not you learning Russian, German, French etc. which are OF VERY HIGH VALUE (in your own words) rather than wasting your time and money on these worthless designations?
Oh sorry, English is not my first language. I thought “worthless” means “not valued”. Can you please tell what does “not valued” means?
Anyways, it’s great that you learnt those languages.
Q4) From what I have observed, this forum is dominated by American candidates. If learning foreign languages was more important/desired than getting CFA charter in the US market, then there would be more candidates learning languages rather than pursuing CFA charter. I might be wrong but these candidates can’t be.
4) No answer.
And finally an advice, as you may have observed, please see the CONTRADICTIONS in your statements.
I did not make any childish remarks towards you. It was you who started this childish behavior by sarcastically saying that I don’t work in the industry. And you keep repeating that behavior. But I must remind you that I can be a keyboard warrior too. And please for your own sake, take a course in reasoning.
They way asians were raised by their parents has alot to do with it. Personally, my parents thought getting good grades and going to the “best” university were the only thing that matters if you want to be successful. Asian parents dont put enough emphasis on soft skills. Alot of pressure were put on us to be academically affluent. Having been working in the “real world” for a few years, I’ve learned that soft skills are just us if not more important than technical skills (strictly speaking from a finance background). Also, its also peer pressure in some respect, alot of parents compare each others kids based on how they did in school as they were growin up. Like it or not, its a culture thing and its hard to understand if you are not from that background.
How is telling you that you don’t work in the industry being sarcastic? I actually mean it! Not everyone on AF works in the industry. Once again you are making childish remarks, and frankly I don’t have anything else to tell you. My apologies for being a “keyboard warrior” as you put it, which in this context it doesn’t even make sense, considering that you have been on the offensive. Also well done on taking my words out of context and analysing them in isolation to use them as counterarguments! If you don’t mind I am on my way to register for that reasoning course that you mentioned of.
P.s. Your 4th question is absolutely ridiculous. First of all, how the hell would I know what they do with their spare time? Do u know for a fact that they spend all their free time pursuing the charter and nothing else? I highly doubt so. Second of all, majority of bankers in New York and London have multiple language proficiency. If you don’t believe me do some research yourself
I think one factor - applies to Indians atleast is cultural - close knit family. the financial support that we receive from our parents- you might by 30, studying, living with your parents, its alright. Its a luxury that we have, for which in some cases parents put pressure otherwise also I personally believe rationally, getting certificates in one field would never hurt you and we help ourselves.
In case of soft skills,people are confusing first generation asian immigrants and asians, I think asians are as good in soft skills as others.
And agree competition is a big factor too…
Fair enough. I suppose it is a factor of competition and cultural differences/values! Thanks for deeming some light on the issue!
The point regarding asian immigrants and asians who are born in the US are definitely true. Most immigrants are lacking in soft skills but that’s mostly because of language and cultural barrier which take time to get used to. Most asians I’ve encountered are just as good as any other race in term of soft skills.
So do south asian employers value the alphabet soup? I mean, will the CFA. CAIA, FRM, CMT guy be at a significant advantage vs the CFA guy? This does not seem to be the case in most countries.
The CFA charter seems to be coveted in some countries and AM, FRM seems desirable for risk positions, etc, but I never thought the soup itself, as a whole, was viewed as much valuable for employers anywhere.
I cannt say, though for an employer, if there are two individuals with overall the same apptitude for the job profile, personally, I would think the one with more alphabets after their name would have a disadvantage.
By no means that meant the opportunity cost of doing multiple courses is justified.