About to end my first year in ER and will Take the CFA L1 in a few weeks. However, my lead Analyst (II ranked) told ne that the CFA is pretty much obsolete and was important 10+ years ago. If you made it into a respected ER team no one cares about it anymore
Can you confirm? I love the job but the cfa is brutal
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To a certain extent, he is right. Breaking into ER is the most important part. That said, there are still a lot of sell side and to a lesser degree buyside shops that put a lot of value on the CFA. They basically want ~80% of the their analysts to have the CFA. So, it still gives you a little more marketability than not having it. Also, do a job search using "CFA" and you will find a decent bit of positions that specifically want someone with a CFA.
Pretty useless for the most part, but some LO's still like it (almost required at some places). That said, there's not really much downside. If you have a ton of free time and not doing anything productive might as well study for it.
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