Before registering for CFA, there are 2 main schools of thought about the CFA exams that I have heard.
1) It's prestigious and it will definitely help in your career
2) It's a waste of money, and employers don't even bother with it. (ie, there is no inherent benefit in terms of salary comparing a person with or without a charter)
One of the things I found out was, CFA is NOT a replacement for a MBA, nor is it a replacement for a specialised masters such as Masters in Financial Engineering.
In an MBA, you learn much more than in a CFA. Things such as strategies, organisational management, supply chain, marketing, etc.
That said, CFA is a useful professional designation within the financial analyst/investment community. In particular, it can be very useful for 2 groups of people. The fresh graduates (or early career people) and the people looking for a change in industry.
The main benefits that a CFA charter bring is not really the knowledge that you gain. While the knowledge IS useful, the main benefits is the career searches available and the networking. This generally allows someone new to find their way up the ladder faster.
Whether a CFA can help u in personal investments or getting an edge in finding a job in corporate finance - The answer is almost surely NO.
So, know why you are taking the CFA.
Wednesday, February 20, 2008
Is a CFA Charter useful?
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8 comments:
I take the view that the CFA is a replacement for Masters in Finance courses, since the CFA material probably close to Masters course material. I'm puzzled by career searches and networking, isn't the CFA exam a self study thing, so where's the networking.
Myself pondering b/w CFA ($) and Masters course ($$$)
Oopps!
I mean networking and career search after you have gotten the CFA charter.. Because its somewhat of a 'club' I guess..
I know lot of folks got the CFA without any good experience, especially those who want to look good on their resumes, to show how much effort they put up just for the sake of 3 exams. It definitely can't replace a master degree (2-3 years of hard work easily). Many job postings "prefer" a CPA or CFA, but not mandatory. Is it good to have it? Yeah, why not. Is it necessary? Perhaps for those folks who have none or less experience but like to get into the industry with better chance.
Good blog. It's a pity that we have to resort to blogs like this to know the benefits... the website of CFA is shit. I tried to apply twice, but looking at the "unprofessionalness" of the website I get pissed off....
too little for such a big program, what the fuck..
i agreed with ur view. MSc finance or MBA finance is certainly more worth the value. CFA is really at best equivalent to a bachelor degree. MSC finance is a postgraduate quaification with much more senior business network u can acquire. you can check www.edupoll.org for some information or you can also visit www.cuny.edu.sg which offers MSc finance masters from New York university, city college.
i agreed with ur view. MSc finance or MBA finance is certainly more worth the value. CFA is really at best equivalent to a bachelor degree. MSC finance is a postgraduate quaification with much more senior business network u can acquire. you can check www.edupoll.org for some information or you can also visit www.cuny.edu.sg which offers MSc finance masters from New York university, city college.
hi i agree tha cfa is useful but only to a certain extent. Another blog http://whycfa.blogspot.com provides views on the usefulness of CFA and master courses.
Blogs are so informative where we get lots of information on any topic. Nice job keep it up!!
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