I go to a top liberal school that has zero business classes. From calling alums they told me that before I go to the interview process with banks I should have a lot of knowledge about finance, which is not taught at my school. One way of doing this is to complete the CFA or at least doing the first three levels. I know they will not give you the charter until you have actual work experience, but do you think it is worth it to put in this much extra work on top of school work? How good does this look on your resume? Any advice is appreciated thanks
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I may be wrong on this, but as far as I know, you can't take Level 1 until senior year. But, since I just started studying for the CFA, I can tell you that in my opinion, the reading materials provided by the CFA institute are extremely clear and well written and great resources to learn about finance, accounting, and economics.
Not sure what year you are,
Not sure what year you are, but you have to have a bachelors degree or be a senior about to graduate in order to qualify take the Level I exam (there are only 3 Levels anyways). And without any finance, accounting, or econ courses, preparing for the CFA would be like picking up *at least* one extra coure. They recommened at least 250 hours of study/prep. before you take one of the exams. No real exposure to these topics, it would probably be more like picking up two or three more courses. As far as looks on a resume, it says that you are a quality candidate, especially coming from a liberal arts school. There are a lot of finance and accounting majors that dont even pass the exam. I think only 40% ever pass the Level I... So if you do it, prepare for A LOT of work, but it is worth it.
One thing to keep in mind is
One thing to keep in mind is that most FT recruiting starts as early as September, so you wouldn't be able to say you passed until mid-january when the results come out.
What you could do is put yourself down as a Level 1 candidate to demonstrate that you really are committed to learning finance/accounting. But make sure that you actually digest the material because they will have every right to fire technical questions at you if you have it on your resume.
I would say that it will not be easy to balance level 1 with all your school work + extra curricular + social life, since you don't have any background in finance. But go for it if you think you can handle. Good luck!!
Do not place level 1
Do not place level 1 candidate on your resume. You will be viewed as a tool. Anyone can sign up for the test so it doesn't say anything. If you are a finance major, the test is not impossible. I did the first level my senior year and passed, but with a lot of work.
Level 1 is giving twicer per year (June/December) and levels 2 and 3 are given once per year (June), so don't plan on finishing all three levels anytime soon. Plus, register for Level 2, you must have you bachelors degree in hand.
Do not place level 1
Do not place level 1 candidate on your resume. You will be viewed as a tool. Anyone can sign up for the test so it doesn't say anything. If you are a finance major, the test is not impossible. I did the first level my senior year and passed, but with a lot of work.
Level 1 is giving twicer per year (June/December) and levels 2 and 3 are given once per year (June), so don't plan on finishing all three levels anytime soon. Plus, to register for Level 2, you must have you bachelors degree in hand.
CFA
I'd say Niblita is right about not putting it on your resume because anyone can do it, but at the same time, I don't see it as bad if you are actually studying the material and are ready to answer questions about it if asked. Or, if you think it's a bad idea, it's definitely not going to hurt you to mention it in an interview as a way of expressing your interest in finance.
I am a senior in college and I put "CFA Candidate" on my resume and I don't think it would hurt me in any way. Quite the opposite, most interviewers were impressed by my initiative and drive. But as mentioned, be prepared to be asked questions about derivatives and statistics if you choose to go this way. If they see you have never seen a CFA book from any closer than sitting on your shelf, then you are going to make yourself look like a tool.
who pays over $1000 to put
who pays over $1000 to put cfa candidate level 1 on their resume?
I would definitely mention
I would definitely mention that you are currently pursuing the CFA designation seriously and that you have already begun studying.
If I graduate a semester
If I graduate a semester early, does that mean that I can take the June Level 1 test in my junior year, since second semester junior year would be the first half of my final year?
don't have to
I'm pretty sure the CFA can't really confirm what year you're in. If your school goes by a credit system, its probably sufficient to have enough credits to be classified as a senior. Otherwise, I'm sure its always possible to just lie about your intended graduation date anyways but...
caveat: the above is pure speculation
don't have to
I'm pretty sure the CFA can't really confirm what year you're in. If your school goes by a credit system, its probably sufficient to have enough credits to be classified as a senior. Otherwise, I'm sure its always possible to just lie about your intended graduation date anyways but...
caveat: the above is pure speculation
Put the CFA level I on your
Put the CFA level I on your resume. Obviously anyone can pay to register and put it on their resume, but you have to be able to demonstrate that you've gained some knowledge from the curriculum, otherwise forget it.
There are plenty of jobs, mostly research and IM, that list "CFA in progress" as a desired requirement. Point is, you're showing that you have the desire to qualify to work in this field.
I think it would make more sense if Niblita75 said that you're a tool for paying just to put it on your resume - otherwise it holds value.
p.s. no one expects you to have passed any level of the CFA while in school; recruiters understand that you're a liberal arts major, they're looking for competency not necessarily specific financial know how.
Put the CFA level I on your
Put the CFA level I on your resume. Obviously anyone can pay to register and put it on their resume, but you have to be able to demonstrate that you've gained some knowledge from the curriculum, otherwise forget it.
There are plenty of jobs, mostly research and IM, that list "CFA in progress" as a desired requirement. Point is, you're showing that you have the desire to qualify to work in this field.
I think it would make more sense if Niblita75 said that you're a tool for paying just to put it on your resume - otherwise it holds value.
p.s. no one expects you to have passed any level of the CFA while in school; recruiters understand that you're a liberal arts major, they're looking for competency not necessarily specific financial know how.
Once again, "Completing a
Once again,
"Completing a CFA Program" and "passing level 1 of the CFA Program" are VERY different accomplishments in the way it is looked upon by employers. Passing L1 means nothing, to be honest. Nothing difficult there in the L1, all it takes is just some efforts and some basic knowledge of finance and aacounting, as well as the ability to solve many problems quickly enough. Other 2 levels are a real challenge, though.
From the looks of it, CFA charter is indeed very useful to have - it adds a lot of credibility to what you say, and senior people even start to actually give you some respect. But only after you have got the charter (which takes passing 3 levels and having 4+ years of relevant work experience). Until you get the charter, only knowlegde you gain through the program counts, not the line "level X CFA candidate" in your CV.