CFA, CAIA, FRM?

Hey guys,

I was wondering if anybody has taken all three of these exams. If so, is there any overlapping in the study material?

I would like to take Level 1 of the CFA as well as Level 1 of the CAIA next year but I think the only way to manage all that would be if they both cover some of the same material. Could anyone shed any light on this? Thanks for the responses in advance.

10 Comments
 

I would complete each in the order you listed in your title

"I am not sure who this 'Anonymous' person is - one thing is for certain, they have been one hell of a prolific writer" - Anonymous
 

Thanks for the feedback, much appreciated.

" The art of good business is being a good middle man" - Eddie Temple (Layer Cake)
 

Can't personally say I've done it, but I do know people who have 2 of the 3 in every combination. From those conversations, FRM seems the most technical in terms of the stats required, while CAIA is general focusing on alt investments, with CFA being the broadest.

I agree that the CFA would be the best to focus on, but I would do the FRM then CAIA, don't know too many employers out there looking for CAIA holders while FRM seems to gaining more traction...

 
Best Response

I know a handful of people who have done CFA and FRM at the same time. You would probably get better info on this issue on analystforum. There is definitely overlap between these two (can't comment on CAIA). One concern that I do have is that there are a number of concepts that are approached a bit differently in each curriculum which could make some overlapping topics confusing. My suggestion would be to do the following:

1) CFA first for the following reasons: - it provides broad exposure to topics that are more in depth in FRM and CAIA - it is the most valuable designation of the 3 (IMO) and thus should take priority - it provides a great base to begin your studies of the other 2

Again this is very context specific, if you are specifically targeting a risk role I would do the FRM first. If you are targeting a IB or PE role you could make the argument that all 3 are not that valuable in regards to landing a job (although the content knowledge would be helpful).

One caveat, you dont want to be the alphabet soup guy with a bunch of letters next to his name. Doing all 3 would be overkill and your time would be better spent doing other things ranging from networking, building industry knowledge, etc. to getting laid and participating in other passions. Best of luck.

 

Have done all three - agree with the above - CFA is the only one that is really worth it and the only one most people know,

Unless you are in school and have the time to do all 3 (i think CAIA and FRM both have no restrictions on who is eligible to take both levels of the exams) I would suggest you just focus on the CFA

 
junkbondswap

I know a handful of people who have done CFA and FRM at the same time. You would probably get better info on this issue on analystforum. There is definitely overlap between these two (can't comment on CAIA). One concern that I do have is that there are a number of concepts that are approached a bit differently in each curriculum which could make some overlapping topics confusing. My suggestion would be to do the following:

1) CFA first for the following reasons:
- it provides broad exposure to topics that are more in depth in FRM and CAIA
- it is the most valuable designation of the 3 (IMO) and thus should take priority
- it provides a great base to begin your studies of the other 2

Again this is very context specific, if you are specifically targeting a risk role I would do the FRM first. If you are targeting a IB or PE role you could make the argument that all 3 are not that valuable in regards to landing a job (although the content knowledge would be helpful).

One caveat, you dont want to be the alphabet soup guy with a bunch of letters next to his name. Doing all 3 would be overkill and your time would be better spent doing other things ranging from networking, building industry knowledge, etc. to getting laid and participating in other passions. Best of luck.

This is spot on. And for what it's worth, I have two of the three.

 

Thanks for the direction everyone.

Does anyone have any idea how beneficial this would be towards landing a gig in AM. I am graduating at the end of the summer with a BA in Econ (3.0) from a Non-Target. I have 3 Internships all in different depts. at a BB but they are back office positions. I have been networking a lot and from the sounds of things I will have an interview at 2 BBs and 1 MM shop for IBD come the fall. That being said I am not to optimistic because of my experience.

Thanks in advance for the help.

" The art of good business is being a good middle man" - Eddie Temple (Layer Cake)
 

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