So I passed Level I and December, and didn't see much improvement with my job search. I just sat for Level II and to put it nicely it was hell. Is passing Level II going to even help that much? I'm sick of wasting my time on these tests if it's not going to do anything. Just frustrated after level II raped me.
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I think this has been covered many times. But CFA doesn't really help. Stick with networking.
CFA Sucks.
Think of it this way, its better to have it than not.
As a fellow CFA-er, and one who began the process to bolster the job search, i sympathize. There are a lot of different factors at work here. If we're assuming that you are actually looking for a job where the CFA is a requirement or at least highly favored, then I think passing Level II is seen as "the gauntlet", and having Level III candidate on your resume will really tip the scales in your favor.
If however, you are just looking for any finance job, I don't think it makes a huge difference until you've got those letters next to your name, and even then it greatly depends on how knowledgeable the organization is with regard to the CFA.
Ultimately I said eff it and I'm going back for my MBA.
All the CFA haters clearly have never been through the program. It definitely helps. I can tell you the vast majority of the job postings for IM positions on top business school alumni boards specify either MBA -or- CFA are required. Others say CFA is "a plus" or "highly recommended". It's the gold standard. It will always be the gold standard. And anyone who says otherwise is an IB analyst who has no clue about the IM side of the industry. It will also help you break into consulting roles.
That said, I'm with Cartwright on this one - doing MBA as well to help with the career switch.
I already have my MBA but I am thinking of doing the CFA. Having said that I am in Toronto and it seems to be more highly regarded here than in most US cities.
The CFA isn't some magic bullet that guarantees anything despite what those that run the organization may say. On the list of priorities for most firms it will still fall below connections, experience, and school/education.However, it is certainly helpful in securing interviews if you are lacking in other areas. It shows you have a genuine interest in asset management and at least a basic understanding of some financial principles involved. You likely didn't see a big increase in recruiting after passing level 1 because most firms had already finished their standard recruiting. Keep at it and work on your networking, having passed level 2 will certainly differentiate you from the pack if you are still searching when Fall recruiting begins.
I already have my Masters :( So I guess I've wasted that card. Hopefully Level II will truly prove to be the gauntlet and I passed. Otherwise CFA is turning out to be a huge waste of time and money.
Why would you ever do a masters of finance and the CFA? dont you think you're wasting some money there? I think if you did a masters in financial engineering or something quantish i can understand but MSF and CFA?
Passing level 1 while in undergrad really helped me get my first job. At least for entry level roles, people all seemed pretty impressed and never ever brought up my mediocre (3.3) GPA. Plus, any of the interviews where the interviewer had their CFA charter was an automatic 2nd round advancement. Maybe you're not applying to the right roles?
Would a CFA level 2 boost my resume? (Originally Posted: 08/21/2014)
Hey, I was wondering if completing the first 2 levels of the CFA would increase my chances of starting in finance. For me the goal is and always has been to get into a activist investors hedge fund or PE. For the moment i have a bachelors in mechanical engineering and am pursuing a master's in statistics so i was wondering if spending the remainder of my social life on completing as much CFA lvl's as possible would have a positive impact.
Waiting for responses from forum and industry seniors like you are now...
I personally think it would help though.
I have heard, but do not know, that CFA helps with hedge funds. I would say it's not necessary to useless in IB recruiting. I guess it shows you're interested in finance but the fact you're at an AM shop should already do that--it's not particularly relevant to the field. Apparently PE is pretty similar, the CFA isn't worth much.
It won't have a -ve impact.....
It wouldn't hurt...
Probably wouldn't want to study for 100+ hours for something useless though.
certified CFA definitely won't hurt, but level 2 definitely won't help.
I dont get people here, the CFA is made for people whom are interested in specific parts of IB and AM/PE so how is it useless...
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