How important is the CFA if I want to make a long-term career in LO AM (Equities)?
Title. Basically my firm wants me to do the CFA but I really don't want to put in the time, it's just such a brutal grind to do 300hrs per level. Can I dodge it?
Is the CFA losing its prestige? Are firms not caring about it as much anymore? Honestly just trying to figure out how much of a must-do it is
Get it. It's the gold standard. Signals your interest in the industry and your commitment to your profession. Many firms will require it for beyond entry level so just get it out of the way,
Do you have it? Pass rates are also so crappy
If you're really, really good at your job, you can dodge literally any hurdle.
Some hurdles are harder to dodge than others though. And the CFA is one of those hurdles that will remain in your way throughout your career if you choose to avoid it. It won't be a bad mark as much as something that others will notice more and more with time.
Just get it. It's only 1000 hours total. It sucks and nobody likes it. We've all been there.
This! And no, I don't have it as I am on the retail side of the business, so not necessary. If you want a long career at an asset manager (Investor, Research and even senior distribution), you'll likely need it.
Bro 1k hours is a ridiculous amount of time, esp since it's like the minimum if we're assuming you pass every level on the first try
Will CFA be irrelevant in 10yrs?
Yes I agree. It’s a lot of time. And yes, so long as the CFA Institute continues to receive institutional support, I assure the designation will remain relevant
Realistically the only way to avoid it is having a top 5 MBA
Interesting anecdote: a valedictorian of GBS who works at my firm does not have a CFA. He's among the only who don't at the portfolio manager level.
What about top 7?
Having both top MBA and CFA should position you well for an AM research job.
Dude did you read the post? I already have a good AM research job
Sorry, I meant to say position you well for further career development
In an industry where the total pie continues to shrink every year (and with that seats disappear) do you really want to stick out because you don't have the CFA? That's not the type of differentiation you should pursue. Think of it this way, if it's you and one other guy for the same seat (be it promotion or move to another fund) and your backgrounds are 100% the same but that guy has the CFA and you don't, you'll lose out to that guy every single time. It has become more of a min standard than a differentiator IMO - having the CFA won't help you but not having it might hurt you.
Fair enough man
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