CFA... any advantage?
I'm just studying to prepare to the 3rd level, but can't find any evidence that it is really needed and valued at IB...
Does anybody know if it is an advantage for application in top tier banks?
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not that i know of.
in interviews it got me a slight nod and approving grunt from an MD during my 20 minutes with him...
that made me squirm in my seat. lol.
i work in structured Finance (CDO modeling etc) my company is offering to pay for the course, just wondering if ther are any benefits, i would like to work in a bank in M&A (if lucky) or try to get into structuring CDO's
bear in mind that my university degree was not quantitative.
ur opinion would be valued considering i have to invest some 300hrs for Level 1
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yea i would like to know the answer to this one as well
Level 1 won't make any difference jayroc2k. When you obtain a CFA charter, though, it will improve your market value, no question about it.
yes CFA level 1 is definitely a joke.
Is it valuable If I get out from school with the level 2 ?
You are already on level 3.... why go two-thirds of the way and stop?
No stop. Anyway I'm studying hard to get it, but It was supposed to be used as a "pass" to BB IB, but now it seems like I will have to take MBA to land at associate level anyway...
CFA is the premier equity research/asset management certification. It's not directly correlated with banking.
They should really creat the CIB...The Chartered Investment banker.....
Lesson #1 , how to properly shotgun red bull cans...
LOL.
CFA is highly well regarded if you work in investment management/equity research. It's not valued in investment banking or private equity.
This is spot on correct. After working in investment banking at a BB for two years and boutique bank for three years, I never once heard the CFA regarded as necessary or even helpful by senior investment bankers. However, it's well regarded in equity research and investment management. More of a nice to have than truly helpful even in these industries though.
What advantage does a CFA charter give to investment bankers? (Originally Posted: 10/05/2006)
I have taken a look at the CFA webpage, and I can respect that it is a world wide recognized credential, but where in IB would it be of the most use, after all a 3 year program takes alot of time and effort, I wouldn't want to chase it to find out that I might as well gone after my CFP (not much use in IB).
BTW I am an undergrad student, not an active professional.
IMO
None
Mostly Investment Management, portfolio management, and maybe Middle Office Risk management might prefer you to have CFA.
For typcial IB's (like corp. fin ) its all about big school names and grades.
CFA for IB (Originally Posted: 10/24/2010)
I passed CFA Level 2 in June. I was wondering if I should put this on my resume when applying for IB jobs? Will the recruiters question if I really want to do IB? Thanks!
CFA is not really applicable to IB... it will look fine on the resume so might as well throw it on there but it isn't something you will use. Congrats on level II man!!! I have a few friends stuck on the second level right now, but you're on the last stretch now...
http://lmgtfy.com/?q=mergers+and+inquisitions+and+CFA
Definitely put it on your resume.
Will do so. Thanks guys!
Why would you even consider leaving it out? that is just plain stupid.
I did not want the interviewers to question my enthusiasm for IB.
haha ok
haha ok
Thanks guys for clearing that up.
Some guys have in their email sigs, and people are always "oooo loook"
CFA IN IB (Originally Posted: 03/15/2014)
Fixed Income Trading initially piqued my interest in Finance (I'm sure I am not the only Michael Lewis fan here). All my research and conversations with this side of the industry pointed to CFA as a necessity. Now I am becoming more interested in IB, and the more I ask around the more i find the charter unrecognized, or at least not distinguishing. Thoughts, stories, opinions, plans?
The more research oriented the role, the more the CFA comes in handy. Especially with people above you who have the CFA. They know what kind of hell you went through to get the designation. The CFA is less relevant on the IB side just because it is. Thus, not a lot of people have it and don't really give the respect it deserves.
People have totally varying opinoins on the CFA, but I'd say go after no matter what. You end up learning a lot, though you have to be careful to parse through what's actually useful in the real world. I don't ever see why someone would see it as a negative.
As I always told: CFA Level 1 will be small advantage for IB and may play its role only if "other things equal".
At the same time, CFA Level 2 and Level 3 will be a very big advantage over other candidates in pretty much any finance role, including IB, because it shows your dedication, ability to learn and retain great amount of information and it shows that you are ready to put long hours and effort for achieving a goal.
P.S. Regarding relevance of the CFA for IB: in CFA program maybe there is like 20% of topics that are relevant for IB at best, another 20% is general knowledge that will also help if you work in finance, and the remaining 60% you will never use in real life. Something like that.
Level 2 CFA --> IB? (Originally Posted: 12/23/2012)
I'm in an odd situation and need a few opinions. To make the story very short I graduated in May of 2012 and passed my Level 1 CFA in June. I took it to get ahead because I knew someday I wanted to work in buy side investment management.
After graduation I had not secured a job and started pursuing some investment banking roles. I am now going to be doing an internship in Corp Finance that will last 6 months or so and allow me to gain experience and continue my job hunt and networking in a new location.
I am debating taking the Level 2 CFA examination this Spring because I feel that because it means nothing to IB that it may only hurt my application if I pursue such opportunities in the Summer/Fall.
Mainly I am pursuing IB because it seems like the best road to gain exposure and experience for HF Analyst roles.
Could you guys offer some opinions on this?
Go for it if you have the time. You don't have to list it on your resume, but I think it'll be helpful. My current boss said that he found the fact I took the CFA right out of undergrad really impressive.
Not all HFs value the CFA, but some do. It'll help.
Thanks for the help. Anyone else have an opinion?
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