I’m a junior in college and interested in taking the CFA exams next year. As a person pursuing a Bachelor of Arts degree, I find myself somewhat left out of the financial world. This despite the fact that I have trend traded equities for years now. Therefore, I’m interested in pursuing a CFA to help me launch a successful career in the finance world. While making more money than having only Bachelor Degree. Before I take the time to sign up and start studying next year, I’m interested in hearing what launched your interest in the CFA exams. My question is, what have you gained by taking (and passing) the CFA exams? What reasons led you to pursue spending the time and money in studying and taking the CFA exams?
Whatever you do, don’t underestimate the fact that you will have to sacrifice seemingly ENDLESS hours and years of your life studying for the CFA exams, with absolutely no guarantee of success. If you are PASSIONATE about finance and really want to be an analyst, than it’s worth it. IF you’re not sure, or if you only have a passing interest in the field than don’t waste your time. The CFA charter will not make you a better “trend trader”. Countless people underestimate the level of commitment that is needed to successfully obtain the charter, and that’s why only 1/5 new entrants successfully complete the program.
I’ve always enjoyed learning about finance and an academic challenge so it goes hand in hand with these exams. And after reading so many posts with people who have both a CFA and MBA (and other letters) it seems like this is almost a minimal requirement to get a legitimate job in finance these days. Although I’m sure if you establish a good network in the industry it should be sufficient. If you really like finance and want to find away into the industry while studying in your last year of your BA than this is probably the place. Start out at level I, of course, and see how you like it from there…
simply put, it’s a “golden standard” in investment profession.
I don’t have the grades for a top ten MBA (at least i think i don’t think i do) and i was lucky enough to land a job at a company i like working for and it also provides me with great experience and lots of room to move up or horizontal in the industry. so rather than leave this gig, i knew i needed more than my BS in finance and am finally serious and mature enough to study HARD for something. to answer your question i have gained a tremendous amount of knowledge that is mostly quite applicable to what i do. passing level one was also a nice moral booster and gives confidence that even though i didnt work as hard in college, i can still make a decent living. if i could go back in time, i would have gotten better grades and tried to get into a top ten MBA and network from there. theres no telling what way would have been better, but what can i say? i never seriously considered going to school after college and that is a regret. to answer your other question, a big reason i am pursuing this is because my company foots the bill for the materials and exam. also, even though my job is good for me now, i get frustrated that its not where i wanna be. when i get frustrated, knowing that i studied earlier that morning makes me feel better that i am doing something to better myself and get towards where i wanna be
Q: Why take the CFA exams? A: 1) To learn about finance. 2) Personal satisfaction. If you enter the program, I guarantee, pass or fail, you will achive either of the above.
CFA studying has made me more introverted.
pacmandefense Wrote: ------------------------------------------------------- > CFA studying has made me more introverted. same here, im pretty much a shut in nowadays
all true comments. I do it for 2 reasons: 1) It doesnt hurt to have CFA behind your name, it only helps. From a career perspective that is…from a time and social perspective it is much different. 2)You are a badass. Being able to understand most everything in the financial universe, wax on about numerous topics, you are a frickin wizard, and thats a good feeling and knowledge to have.
tvPM Wrote: ------------------------------------------------------- > 2)You are a badass. Being able to understand most > everything in the financial universe, wax on about > numerous topics, you are a frickin wizard, and > thats a good feeling and knowledge to have. Awesome post.
Whoa dude - I wish I had heard of the CFA exams and AF when I was a junior in college. . .
SeanC Wrote: ------------------------------------------------------- > pacmandefense Wrote: > -------------------------------------------------- > ----- > > CFA studying has made me more introverted. > > > same here, im pretty much a shut in nowadays I’m headed in that direction as well.
I have to tell you, my coworkers, in exact same position as me, have MBAs from top 5 business schools, maybe even top three depending on who is ranking. I merely have bachelors and CFA, and by no means am any less knowledgeable about investment management than them. I would even venture to say that I have a greater understanding of the ins and outs of the various investment tools and strategies tought through the CFA program. Now this might be an isolated case. But, I think what you learn from the CFA is equal to if not greater than that taught at top MBA programs in regards to investment mgt. Plus, your employer might even pay for it.
Rydex-agreed. People can argue the overall value or learning of a CFA vs MBA, but when it comes to actual investments and investment mgmt there should be no argument, CFA reigns supreme.