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CFA to Make Move
 

cheese86's picture
HF
(Gorilla, 586
 
Points)
 on 2/15/12 at 11:51am

I recently passed Level 1 of the CFA in December and am hoping to use it as a springboard into an analyst, ER, or sales role. Obviously, it is only 1/3 of the way towards the goal of completing all three levels but now that I can say I passed one is there a way to get in touch with people who might be interested? How have others used the CFA to make a jump into the finance industry? Any help/advice is much appreciated.

duffmt6's picture

Not a huge help if making a

IB
(Neanderthal, 2,476
 
Points)
 on 2/15/12 at 11:55am

Not a huge help if making a career switch. Really going to depend where you are coming from/other credentials.

"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie

BTbanker's picture

CFA won't help much when it

IB
 
Points)
 on 2/15/12 at 12:11pm

CFA won't help much when it comes to entry, but once you land a job, it helps you move up.

"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan

LAWM's picture

analystforum.com This has

AM
(Orangutan, 339
 
Points)
 on 2/15/12 at 12:15pm

analystforum.com
This has been discussed plenty before. The CFA charter (or any part of it) will NOT guarantee you a job. It may help with networking via societies but you still need a foot in the door somehow.

Plenty of people running around with LI and LII and LIII without jobs in relevant industries.

justin88's picture

Minor nitpick: don't phrase

HF
(Gorilla, 622
 
Points)
 on 2/15/12 at 12:16pm

Minor nitpick: don't phrase it like you're 1/3 of the way through. Levels 2 and 3 are much harder and time-consuming than level 1.

In reply to dabanobo
FutureBanker09's picture

dabanobo wrote: Minor

AM
 
Points)
 on 2/15/12 at 12:19pm
dabanobo:

Minor nitpick: don't phrase it like you're 1/3 of the way through. Levels 2 and 3 are much harder and time-consuming than level 1.

Yeah in actuality you're more like 5-10% of the way there

In reply to dabanobo
Flake's picture

dabanobo wrote: Minor

ER
(Neanderthal, 3,670
 
Points)
 on 2/15/12 at 12:28pm
dabanobo:

Minor nitpick: don't phrase it like you're 1/3 of the way through. Levels 2 and 3 are much harder and time-consuming than level 1.

This and also what Connor said.

CFA Level 1 counts for nothing in terms of getting in if you don't have something else to offer. It's a decent resume filler at best and might help you during interviews in a couple of ways...

In terms of attractiveness to employers...don't get your hopes up.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

In reply to Flake
duffmt6's picture

Flake wrote: dabanobo

IB
(Neanderthal, 2,476
 
Points)
 on 2/15/12 at 12:30pm
Flake:
dabanobo:

Minor nitpick: don't phrase it like you're 1/3 of the way through. Levels 2 and 3 are much harder and time-consuming than level 1.

This and also what Connor said.

CFA Level 1 counts for nothing in terms of getting in if you don't have something else to offer. It's a decent resume filler at best and might help you during interviews in a couple of ways...

In terms of attractiveness to employers...don't get your hopes up.

Flake, just curious- are you taking CFA/is it recommended by your employer?

"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie

In reply to duffmt6
Flake's picture

duffmt6 wrote: Flake

ER
(Neanderthal, 3,670
 
Points)
 on 2/15/12 at 12:56pm
duffmt6:
Flake:
dabanobo:

Minor nitpick: don't phrase it like you're 1/3 of the way through. Levels 2 and 3 are much harder and time-consuming than level 1.

This and also what Connor said.

CFA Level 1 counts for nothing in terms of getting in if you don't have something else to offer. It's a decent resume filler at best and might help you during interviews in a couple of ways...

In terms of attractiveness to employers...don't get your hopes up.

Flake, just curious- are you taking CFA/is it recommended by your employer?

Taking Level 1 in June because a lot of the guys have it and it helps you look better to the clients and may help with that potential buy-side move. I think the guys that are chartered also get paid more, so the CFA definitely has its benefits when you're already doing this shit for your career.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

In reply to Flake
duffmt6's picture

Flake wrote: duffmt6

IB
(Neanderthal, 2,476
 
Points)
 on 2/15/12 at 12:59pm
Flake:
duffmt6:
Flake:
dabanobo:

Minor nitpick: don't phrase it like you're 1/3 of the way through. Levels 2 and 3 are much harder and time-consuming than level 1.

This and also what Connor said.

CFA Level 1 counts for nothing in terms of getting in if you don't have something else to offer. It's a decent resume filler at best and might help you during interviews in a couple of ways...

In terms of attractiveness to employers...don't get your hopes up.

Flake, just curious- are you taking CFA/is it recommended by your employer?

Taking Level 1 in June because a lot of the guys have it and it helps you look better to the clients and may help with that potential buy-side move. I think the guys that are chartered also get paid more, so the CFA definitely has its benefits when you're already doing this shit for your career.

Makes sense. I'm signed up for Level 3 this June, but going to bomb it. Need to pass the FINRA exams (7, 63 and 79) in the next couple months and haven't started studying for CFA.

Good luck with it.

"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie

Wasserstag526's picture

Definitely a helpful

CF
 
Points)
 on 2/15/12 at 1:13pm

Definitely a helpful credential if you have underlying experience to tie with that credential. I would disregard the comments above stating that it is a small achievement to pass L1. A lot of jobs want to see progress towards the CFA so it will def help you in that regard, however it will never trump tangible experience.

'We're bigger than U.S. Steel"

In reply to Wasserstag526
Flake's picture

Wasserstag526

ER
(Neanderthal, 3,670
 
Points)
 on 2/15/12 at 1:24pm
Wasserstag526:

Definitely a helpful credential if you have underlying experience to tie with that credential. I would disregard the comments above stating that it is a small achievement to pass L1. A lot of jobs want to see progress towards the CFA so it will def help you in that regard, however it will never trump tangible experience.

Never said it was a small achievement. I said what you said, just in my usual retarded way. CFA L1 should be used to supplement good experience and other credentials for the purposes of "breaking in". Without the things you mentioned, passing the CFA Level 1 exam alone will not open any magical doors.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

In reply to Flake
duffmt6's picture

Flake wrote: Without the

IB
(Neanderthal, 2,476
 
Points)
 on 2/15/12 at 1:27pm
Flake:

Without the things you mentioned, passing the CFA Level 1 exam alone will not open any magical doors.

I can confirm this. Only regular doors, most of which are locked.

"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie

tylderdurden's picture

cheese86 wrote: I recently

ER
 
Points)
 on 2/15/12 at 1:37pm
cheese86:

I recently passed Level 1 of the CFA in December and am hoping to use it as a springboard into an analyst, ER, or sales role. Obviously, it is only 1/3 of the way towards the goal of completing all three levels but now that I can say I passed one is there a way to get in touch with people who might be interested? How have others used the CFA to make a jump into the finance industry? Any help/advice is much appreciated.

As others have said, it's not that useful. Face it, a LOT of people take the CFA exams hoping that it'll help to differentiate them. It doesn't.

Having a CFA is different though and does help. Problem is, to get a CFA, you need to be in the industry. I dont regret doing my CFA, but for people just starting out, I'd argue that there's better uses of your time.

CS Arb's picture

I also question AIMR's

HF
(Monkey, 59
 
Points)
 on 2/15/12 at 2:03pm

I also question AIMR's "studies" that show people with the cfa make more money. It's not like two PMs at the same fund running the same amount of capital are going to be paid different because one is a cfa. Honestly, if your at an investment firm that pays people more for having a cfa instead of their investment performance that should speak volumes about what's important to that company and you should look to move to a real shop.

In reply to CS Arb
Flake's picture

CS Arb wrote: I also question

ER
(Neanderthal, 3,670
 
Points)
 on 2/15/12 at 2:10pm
CS Arb:

I also question AIMR's "studies" that show people with the cfa make more money. It's not like two PMs at the same fund running the same amount of capital are going to be paid different because one is a cfa. Honestly, if your at an investment firm that pays people more for having a cfa instead of their investment performance that should speak volumes about what's important to that company and you should look to move to a real shop.

At lower levels for sell-side ER I think the associates with CFAs get a little bigger base. That's all I claimed but now I'm also curious about this study bs.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

BTbanker's picture

People don't necessarily make

IB
 
Points)
 on 2/15/12 at 4:37pm

"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan

BTbanker's picture

People don't necessarily make

IB
 
Points)
 on 2/15/12 at 4:37pm

"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan

In reply to Connor
CS Arb's picture

Connor wrote: People don't

HF
(Monkey, 59
 
Points)
 on 2/19/12 at 10:37am

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