Work Experience

I worked for 5 years before returning to grad school to get my MBA in financial derivatives. I have 2 years of experience in my current role as an equity analyst.

My 5 years of work between under grad and grad school consisted of managerial roles in heavy industry (2 for Caterpillar, Inc. and 3 for smaller, family-owned firm) in which I was responsible for making large capex decisions. Land & plant acquisitions and expansion, machinery expenditures (million dollar machines, not forklifts lol), plant reconfigurations and upgrades, etc. I would prepare IRR & DCF models for my capex projects, generate an expected return on the investment, incorporate our cost of capital, run multiple scenario analysis, etc.

I think an argument can be made that my work experience fits within the guidelines the CFA provides, but I’m not sure. I did evaluate and apply financial data as part of the investment-making decision process. I don’t see any restrictions on what constitutes an “investment making decision process” that would preclude me from classifying capex investment decisions as an “investment decision.” If you narrowly define the investment decision making process as deploying outside capital into private and public security investments, then I could see a problem. But the CFA guidelines don’t do that and I sincerely believe that what I did should be defined as making investment decision.

Would sincerely appreciate an input / critiques / thoughts, especially form anyone who has been through a similar situation. Thank you!

I think you are overthinking it. Based on your description, I would absolutely apply for work experience credit. Your “sincere belief” has a reasonable basis in fact. Your work material is relevant to exam content (e.g. corporate finance).

I would suggest specifically inclcuding many of the terms you posted, such as IRR, DCF, CAPEX, ROI, cost of capital, scenario analysis, etc.

I would also suggest more clearly defining the impact of your work product (i.e. how specifically was it utilized in the decision making process).

Well since L2 corporate finance had significant weight to capex spending you should be in the clear