Once and for all, is the CFA still worth it?
TL;DR: Is theworth it for breaking into roles and does it help you once you're in them? Please give answers from a recent perspective, from a respectable source (if not first-hand).
Apologies in advance for the lengthy post....
I feel like this question has not been properly answered for some time.
Some context: I'm in my first year in SS ER in London, I've passed Level 1 and always thought that I'd do all 3 levels to help break into LO AM. I've realised I haven't given this as much thought as I should've for something as time consuming as the CFA exams. I've asked management at my bank and they don't really care about the charter. A minority of the floor has their charter (and/or pays their fees) from what I can tell.
I've found that most people giving advice on whether to take the CFA have some sort of ulterior motive or are out of date in their perspective: either they make money from its continued uptake or they took it themselves and think others must also share the pain or took it themselves 10 years ago and are not aware of the changes in the hiring market. So...
I want to answer two main questions:
1. Does taking the CFA help you become a better analyst/PM?
2. Does the CFA help break into AM/ER/HF? And, if so, in what specific cases (asset class, candidate background etc.)?
Question 1 is subjective - for those of you who have at least passed Level 1 and work in AM/ER/HF etc., it would be great if you could share how you feel CFA has impacted your capability, if at all.
Question 2 is anecdotal - for those who have been on hiring committees or interviewed for roles where holding the CFA could be deemed relevant, it would be great to hear how a candidate's CFA progress or lack thereof has impacted decision making.
If this gets enough responses, I'll edit some main points into the post or make a new post for future use. I'll also be reaching out to the few head-hunters I know to get their perspective (feel free to do the same if you can be bothered!)