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CFA
 

Graduating senior, need a finance job! MSF?

same0's picture
(Monkey, 62
 
Points)
 on 5/19/13 at 4:34am

So I got an offer from a boutique consulting firm. It mainly does project management for a number of F500 tech companies. It starts in august. What I originally wanted was to work in AM but I couldn't get an offer.

Any ideas about how I should go about getting a job in finance? I have a few months to look around so I've got a little time. But any suggestions?

-Should I work in consulting for a year and apply to a MSF? My gpa is 3.2 and I come from a top LAC (econ major), with good extra currics).

-What are options do I have?

Thanks for the advice. Ultimately I could end up liking consulting and stay there. Any advice. CFA?

Salaries?

same0's picture
(Monkey, 62
 
Points)
 on 5/12/13 at 8:31pm

What is the salary progression/career path of someone in asset management? PM being the ultimate goal?
1st year, 2nd year (CFA), etc...

CFA Compensation Survey

Hooked on LEAPS's picture
ER
 
Points)
 on 5/9/13 at 2:44pm

http://www.cob.unt.edu/firel/liu/invest/Supporting...

Anyone have something more recent than 2007?

Edit: And not the 2011 Seattle one.

CFA June 2013 Mocks Available

Asatar's picture
O
(Neanderthal, 2,019
 
Points)
 on 5/6/13 at 10:12pm

Pm me if you need June 2013 mock exams for any level. Will only be giving to users with decent SB / MS ratios and good post histories.

Help me decide on offers.

same0's picture
(Monkey, 62
 
Points)
 on 5/6/13 at 1:04am

Hi Everyone,

option 1: boutique consulting firm associate. They work mainly (70%) with 4 or 5 F500 tech companies. 50-60 people at the firm. Pay is 40k.

option 2: totally different. associate at mutual fund. Pretty small (700million). Less than 10 employees. As far as job description, I'd mainly be doing a little bit of everything. Worried it may be too much marketing for the firm. But it is in finance.

Opportunity Cost of MSF, and a specific MBA vs. MSF discussion

Kassad's picture
IB
(King Kong, 1,191
 
Points)
 on 4/26/13 at 11:30am
Opportunity-Cost.jpg

Hey everybody,

What do you think about, and how do you deal with, the loss of income when you go to grad school?

I've come to agree with WSO's advice of getting a job out of undergrad instead of trying to hit the MSF right away. It seems like the right choice (thanks all), but it's kicking a problem down the road - I come from a non-target and have bad grades.

At some point, I'll have to sacrifice a year's worth of income to do the MSF, unless my career shapes up so well that I can skip it and just go for a MBA later on.

CFA lvl 2 now also i December

trailmix8's picture
AM
 
Points)
 on 3/31/13 at 7:19pm

Finally CFA institute has decided to offer the level 2 in December starting this year. This is good news for me just in case it does not work out this June.

is CFA really needed to break into AM?

seville's picture
 
Points)
 on 3/28/13 at 10:21am

I'll be working in BB BO and my end goal is to break into AM. As title states, is CFA really necessary to break into AM?

"Where do you see yourself in five years?"

John Daggett's picture
 
Points)
 on 3/25/13 at 6:55pm

For this type of interview question is: "I see my self possessing as CFA," a good answer?

Does Real Estate (property level) Acquisitions Experience Count for CFA designation?

Ut_Ameris's picture
(Chimp, 2
 
Points)
 on 3/20/13 at 3:56pm

I am doing property level acquisitions (building acquisition models, taking part in all the due diligence, presenting deal investments to senior investment director, doing credit analysis on prospective tenants, etc), and am contemplating the CFA.

I have read the hotly partisan discussions about its merits, but want to know if 4 years in this role would qualify as proper work experience for the designation (since it is not securities related AND the real estate investment is not part of a wider securities dominated investment platform).

See: CFA Institute's 'Becoming a Member' section for their exact working since I cannot post that link here.

Thanks guys.

Execution traders

streetwannabe's picture
(King Kong, 1,320
 
Points)
 on 3/18/13 at 4:23am
execution trader.jpg

Hello everyone,

I was hoping that someone in the industry or with more knowledge about it that I, could discuss the role of execution traders. Would it be a good position to take out of college at a hedge fund? I am interested in pursuing a position I will be interviewing for as a junior trader, but am worried by what I've read as execution traders essentially being support roles that are not very active in FO decisions or research. As the fund is quite small, I would be hoping that I could also learn and eventually take on more of an analyst role or a pure trading role.

I initially think this would be a great role working at a hedge fund out of college and could take CFA and eventually go to get MBA or MSF. Any insight or advice would be greatly appreciated.
Thanks!

CFA level 3

CivilServant's picture
(Baboon, 117
 
Points)
 on 3/15/13 at 4:55pm

Someone give me some motivation. I just hit swaps in Alternative Investments and I can't face anymore.

If your in for level 3, where are you up to in your studies?

Am I picking the right time to take the CFA

Callmeking's picture
 
Points)
 on 2/28/13 at 7:20pm

So I'm in my penultimate year at uni studying International Business and after my second WSO meetup in London a member persuaded me to take the CFA this December instead of following year.

Although I understand the amount of attention the CFA requires, I'm not quite sure of how it would impact my studies (besides the obvious [extra workload]) and therefore do not know if taking the exam is as wise as it may otherwise seem.

It would be much appreciated if you guys could shed some light on matter, and it would be even better if someone - that's taken or past the exam whilst at uni - could give me some advise.

Quit full time job for unpaid internship?

Isuckatlife's picture
IB
 
Points)
 on 2/15/13 at 3:37pm

Purely hypothetical at this point.

Here's my situation: I'm currently working full time at a glorified back office job that offers little room for growth and certainly not a path to get me to where I ultimately want to be (that would be buy side equity research). I only accepted this offer because I was coming from a non-target, pickings were slim, and I was running out of options financially. I've been here a little over three years. Don't want to get into details but there is 0 opportunity to stay here and do the sort of work I want to be doing. Since I've been here my finances have gotten much better and I've passed the first two levels of the CFA exam.

CFA Schweser Books

JPMGSMSCS's picture
(Chimp, 14
 
Points)
 on 2/10/13 at 8:50pm

Hi WSO,

Does anyone have any tips for getting the Level 1 books on the cheap? I got a scholarship from a CFA prof. at my school.. I wouldn't be able to afford the full price right now. Did anyone get the books for $100-$200?

Thanks

Landing on a job after graduation (series 7, 66, CFA)

aset's picture
(Chimp, 9
 
Points)
 on 2/9/13 at 9:16am

I'm a junior at non target school. I am gonna be an intern in a local investment boutique. They said they'll sponsor me for series 7 and 66.
This December (I will be senior) I'm planning to take CFA 1. I am studying 2 hours a day and really doing my best for it.

Will graduating with series 7, 66 and CFA 1 provide me a job at big investment firms? Do you guys think it will be a good idea to move to NY after graduating from California?

And what kind of position will suite me if I want to trade securities. (I have a discount brokerage account and trade with my own money). I'm thinking about financial analyst or advisor. Are there any higher paying jobs to my qualifications? (series 7, 66, CFA 1)

Anyone Finding CFA L3 More Bullsh*t Than the Previous 2?

Oreos's picture
HF
(Neanderthal, 2,450
 
Points)
 on 2/1/13 at 4:00am
bs.jpg

This CFA lark just isn't fun anymore. The brevity and lack of real world application / foundation has really hit a limit on me.

Someone give me strength! Any L3s out there hitting the same wall?

Current Undergrad, should i go to grad school or work?

legitpro's picture
(Monkey, 55
 
Points)
 on 1/24/13 at 12:07pm

Current 3rd yr student in canada, non target school, near perfect GPA. I still managed to get some interviews with some IB firms in Canada, and have other interviews coming up for non banking jobs?

I want to know this summer should I prepare for my GMAT to try to get into Princeton's Masters in finance or Harvard's 2+2 program or should I spend the spring studying for my CFA lvl 1 and do financial modelling programs?

The CFA Level I Dec 2012 Results Roundup

300 Hours's picture
O
(Orangutan, 339
 
Points)
 on 1/22/13 at 6:00am
The CFA Level I Dec 2012 Results Roundup

Did you pass?

After a long wait - the question that has been bugging you has now been answered.

Just a few minutes past 9am ET, the results are finally here, and individual results emails are flying in, being opened and read as this is being typed.

Here's a quick Q&A to round-up today's CFA Level I results.

Any chance to get something interesting?

CatWithaHat's picture
PE
(Monkey, 35
 
Points)
 on 1/21/13 at 9:22pm

Hi there,

First of all, I'm a recent finance grad from a mid/non-target I was hoping to get some thoughts about my plan. Any thought will be greatly appreciated.

Here's my current aspirations/situation:

1) Career
I'm currently interested in investment banking and similar types of intense business jobs(PE, VC, Consulting, etc). That can be for the future though, as I feel my profile may not be strong enough + I have no experience...

Also,

2) Education
I was thinking about Cornell's MBA with CFA integration. Their admission 80% range was 3.09-XXXX, which, I was hoping, with some luck landing at a prestigious firm before applying, and kicking the GMAT at 680+, would give me some sort of a chance?

CFA, CFP, FRM, CERA, which certificate should I go for?

youngreezy's picture
(Chimp, 6
 
Points)
 on 1/16/13 at 10:21pm

There are just so many certificates for finance-oriented jobs out there. How should I go about finding out which certification I should go for?

Right now, I really don't know much about each of them. I am just a math major with a concentration in economics.

20 Things I Wish I Knew Before the CFA Exams

300 Hours's picture
O
(Orangutan, 339
 
Points)
 on 1/18/13 at 11:30am
20 Things I Wish I Knew Before the CFA Exams

6 years ago, I signed up for my CFA Level I as a sprightly, wide-eyed innocent.

I wish at the time I had someone who'd gone through everything to point out the potholes of the journey I'm on. For example, warning me about the difficulty of Level II would have saved me a lot of trouble!

Here are 20 things I didn't know before I went through the CFA exams. Some are funny and inconsequential, some are serious and important to know.

  1. It's tough as nails.

3 Non Traditional Arguments for Getting a CFA

MyGuru's picture
EN
(Chimp, 10
 
Points)
 on 1/15/13 at 12:15pm
cfa.png

Here are three non-traditional reasons for getting a CFA. I use the term “non-traditional” because I’m not going to include “because you want to work in equity research” (or some other area where it’s
basically a required certification) – that’s too obvious. This post is more for folks who are tangentially involved in a finance career and considering getting a CFA. For example, this post could be for someone considering a private equity, consulting, or corporate strategy career.

Are these three reasons incredibly strong arguments for investing 300 hours per level to get a CFA? No, I wouldn’t say that. But, they are points to consider.

#1 – It’s not that easy to get, which means it’s a good way to differentiate yourself on paper.

CPA and CFA requirements

leslier's picture
(Monkey, 32
 
Points)
 on 1/7/13 at 6:20pm

Hi,

I'm planning to take both CPA and CFA...

According to the research that I did, it seems that CFA doesn't have as many requirements as CPA. Is it true that you only need to have a bachelor's degree to take the CFA exams?

As for the CPA, I currently have 10 semester units of accounting from a 4 year university and 6 semester units from a community college. Correct me if I'm wrong, but I think I would need to have 24 accounting units to take the exam right? That means I'm 8 units short. Can I take those 8 units in a community college? Are there any community colleges out there that offer Audit and Tax classes?

Since I majored in Business, I think I already have 24 units of business-related subject...

CFA, CAIA

BalkanCowboy's picture
(Chimp, 10
 
Points)
 on 1/3/13 at 4:57pm

Hi guys,

Is worth having CFA or CAIA if you are aiming quant jobs? It is mainly requirement for Asset Managers, but how is with traders? I have B.Sc. CS from top tier uni and finishing my M.Sc. in fin.

I am ok with C++, VBA, R, - I want build a nice CV. But I think I should add sth. to my CS & fin degrees. Ideas? Or just good track record and my programming skills could impress during interviews?

Thanks

My Five New Year's Resolutions

mikesswimn's picture
O
 
Points)
 on 1/2/13 at 10:30am
Happy New Years!

Morning Monkeys,

A new year is upon us and it's time to think about all the different aspects of our lives that could use some serious improvement. Like many people, I'm realizing that there's many things that require some attention, especially in my professional life (isn't there always?) and so some resolutions are in order. As others have noted, it's important to keep your resolutions simple and concise so they're easy to follow. So, in order to best keep myself on track, I thought I'd share with the WSO community my goals for 2013:

7 Effective Ways to Make and Keep Your CFA New Year's Resolution

300 Hours's picture
O
(Orangutan, 339
 
Points)
 on 1/2/13 at 5:30am
funny_cartoon_new_year_resolutions_calvin_and_hobbes.jpg

The ancient Babylonians made promises to their gods at the start of each year that they would return borrowed objects and pay their debts.

The Romans began each year by making promises to the god Janus, for whom the month of January is named.

In the Medieval era, knights took the "peacock vow" at the end of the Christmas season each year to re-affirm their commitment to chivalry.

And today, we have our New Year's Resolutions. But how great are we at keeping them?

A 2007 study by Richard Wisemen from the University of Bristol involving 3,000 people showed that 88% of those who set New Year resolutions fail, despite the fact that 52% of the study's participants were confident of success at the beginning.

CFA Lv.3 Study Group in NY

aleph's picture
IB
 
Points)
 on 12/27/12 at 2:04pm

Looking to start a study group in January for monkeys taking the Lv. 3 exam in June 2013. Preferably those living around midtown.We'd likely meet on weekends at some Starbucks. There are postings for this on Analystforum as well so feel free to shoot me a message to be kept in the loop. [email protected]

Anyone ever heard of a F500 paying for the CFA?

Industry84's picture
(Monkey, 52
 
Points)
 on 12/18/12 at 2:53pm

I work in FP&A for a F500 and am planning to take level 1 of the CFA next June. I'm contemplating whether or not I should ask my boss if the company will cover the fees, because it may send a message that I'm planning to leave the company since the CFA isn't directly related to corporate finance/FP&A/accounting.

Any thoughts or knowledge on someone in corporate finance getting sponsorship for the CFA? Any advice on whether it's worth asking to have it covered?

CFA or MBA Hedgefund Manager

dest149's picture
ST
 
Points)
 on 12/16/12 at 4:53pm

So there are a lot of posts debating CFA vs. MBA, and there was even on related to AM/PM just now. But I haven't found a concrete answer as related to HF. If the end game is to ultimately become a HF Manager, is it preferable to have a MBA from Wharton, Booth, or Harvard? Or would a CFA be better suited for breaking in?