Can anyone who is a CFA chime into their thoughts on the whole process, see if its worth the 200+hrs/exam of studying needed for 3 exams and the >$2500 investment needed? What kind of raise, if any did you get? What industry are you in? Did your market value increase dramatically? What about those who have only finished one or two test? Any hints/tips for CFA Level 1 exam?
I'm currently in Corporate finance and recently signed up for the CFA exam because i was hoping it would help me change concentration in finance to something closer to markets ie industry analyst(somewhere along those lines)
It's worth it if you're going into a field that needs it. Keep in mind that you're required to have 4 years of experience in the "investment process" (maybe it's "decision", forgot which).
If you're going into CorpFin, it's a waste of time. Switching to investments or analysis from CorpFin will be very difficult.
Study tips? Read every book, do every problem, do not shirk on studying. Most of those who do not pass are those who didn't do that.
Either commit the time to pass, or don't commit at all. Otherwise, you'll fail, end up taking it for 2 years and waste even more time.
I took level I in December and I am taking level II in June. I think it is a good credential to have, but I'm not sure I would have been willing to pay for it myself (my company is covering all the exam and prep costs). Do you have an MBA or do you plan to get one? Having both an MBA and CFA is probably overkill, and you probably won't get a higher starting offer out of b-school than your classmates if you also have the CFA designation (though it might be easier to get certain jobs). That being said, given that you want to be an industry analyst, I think it would be useful for both buyside and sellside analyst positions, though I can't really do a cost-benefit analysis.
If you're going into CorpFin, it's a waste of time. Switching to investments or analysis from CorpFin will be very difficult.
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I see the error of my ways. But i just started working less then a year ago, so i hope i'm still young/new enough to take a entry level position or something along those lines. Hopefully the market will change and makes things easier for me in a year when i'll possible be looking.
I wish i could get my employer to pay for it, but being in corp fin, they dont seem to favor it too much, nor would i think they'd appreciate me taking it as its a sign i am looking elsewhere.
edrucker said: I took level I in December and I am taking level II in June. I think it is a good credential to have, but I'm not sure I would have been willing to pay for it myself (my company is covering all the exam and prep costs). Do you have an MBA or do you plan to get one? Having both an MBA and CFA is probably overkill, and you probably won't get a higher starting offer out of b-school than your classmates if you also have the CFA designation (though it might be easier to get certain jobs). That being said, given that you want to be an industry analyst, I think it would be useful for both buyside and sellside analyst positions, though I can't really do a cost-benefit analysis.
No MBA for now, but hopefully in the future.
So your job will provide no raise for you once u complete the test?
So your job will provide no raise for you once u complete the test?
Not specifically related to my completing the exams, no. I'm a buyside credit analyst and everyone with my position at my company is expected to work toward the CFA designation.
When are you thinking about getting your MBA? That might be the easiest way to try and get into another area. If you do a good fulltime 2-year program, you can often get your foot in the door somewhere over the summer.
I have no particular guideline as to when i want to get my MBA, the thing is im so early in my career i need some work a little more so my resume is good enough to get into a top MBA program.
My fear is that i stay in Corpfin to a point where it will be near impossible to get a good job in another field.
It seems like the CFA is not an easy way to jump ships to another field
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