To CFA or not to CFA?
I know this question has been asked dozens of times, but just looking for opinions on my situation.
I recently started a new job with a HNW asset mngt shop in NYC. I’m nearly 2 years out of undergrad, picked up my Series 7/63 from prior job. At the moment, I don’t really have an interest in MBA just because of how expensive it is.
We’re a very small team. I help around with everyone, but role is primarily support in nature. I have a particular interest in working with the research analyst, a young guy who is very sharp.
They have been great to me so far and appear to be very interested in helping me grow, given that I stay with them long-term.
Given my interest in working with the research analyst and perhaps getting more into that side of our team, should I begin the CFA process? It is a long, daunting journey. The books/study course are expensive. Also, I’m only about 2 months into the new role so maybe I should give it some time? Maybe they wouldn’t want me to start such a distraction when I’m still so new to the job.
Lmk your thoughts on the CFA value in the asset mngt business. Particularly interested to hear when some of you started the process in your career.
Usually a place like that will sponsor(ie pay for) your CFA. You can ask your manager about this, if it's a small shop they may not do it unless they want to develop you, but it's not really that much money for a business like that. You might want to talk to the research analyst, and explain that you'd like to spend some time working with him, subject to your managers approval, maybe an hour a day or two? Depends on your current job. Then ask him and your manager if they think doing a CFA would be a good idea and take it from there. Doing the CFA along side working with the analyst, that could be an interesting way to advance your career. But some people seem to think the CFA on it's own should open doors. That's not exactly how it works, also the MBA doesn't really work that way. The CFA is valuable if you find ways to make it valuable. Does that make sense?
Yeah I understand. I appreciate the help
Good answer. OP, I would agree that you should defo talk with the research analyst and your manager, especially given that you don't have a innate desire to do it. They might have other ideas on how best you can progress within the firm and help the analyst
I think I do have the desire to do it. It’s just such a large commitment, I was looking for opinions
Great! What's great about the CFA is that it's not one big chunk of a large commitment - it's broken up into 3 manageable levels. Take it one level at a time and see how you feel after finishing L1. That way it won't feel like an immense commitment which induces analysis paralysis. Not to mention that L1 is easy
If you don't mind me asking, what was your career path to AM? College student interested in the industry and also looking to take the CFA down the line
First job out of school was a trading assistant role at a small broker dealer. The role was fine, the team was awful. Stuck it out there for a bit over a year, learned more about the different roles in financial world, got a few series exams. Learned that I preferred to move into the asset management space.
Found a small team that’s a pseudo family office, with an old school Wall Street guy as the CEO and managing a good portion of his own money, he was a PM at a legendary shop prior,
Still a support role here, but a small team (which I prefer) that seems interested in my growth in exchange for a commitment to them.
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