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It won't be harmful by any means but the amount of time you put into attaining it will outweigh the benefit of having the designation because it's not as applicable or as necessary as it is in other more traditional areas of publicly traded Asset Management classes.
It'll help in Canada and somewhat for non top-tier firms.
Ok that makes sense. I came into IB with Level II completed, so it makes sense to finish it up. Looking at MM to lower MM firms as mentioned above.
Yeah, if you've already passed II might as well go for III.
What about the CAIA?
not really helpful. obviously not going to hurt, but not worth the time or effort, esp if you're starting from the beginning.
If you've already completed II you might as well do III. I'd recommend also trying to get the GMAT done as soon as you can as well.
My current firm has 2 CFA associates but no one talks about it. Additionally, I took level I and in the words of my principal, "you know, you probably should have just prepped more for the typical deal related stuff, the CFA only really has 20%-30% applicable material".
I was pushed more to become sound at accounting, all components of LBOs (strong understanding of debt and equity structures, different business models and their drivers) and extremely proficient at modeling. On the last point, there are very big differences between being able to build a LBO and building a very clean and easy to understand operating model.
If I could do it again, I think I would have focused on my Principal's recommendations and taking the GMAT instead of Level I the summer leading into my associate program.
Now that I'm in PE, it's really of no use. My time studying for L3 would be much better spent learning things actually related to my job instead of portfolio management bs. Since you've already passed L2, I'd follow through with getting the certification, but it'll be of little help for the purpose of breaking into PE.
It will not help. Period.
That said if you've come this far you might as well finish. It clearly shows dedication and intelligence but I do not believe it will be the difference in 1) getting and interview, 2) converting an interview into an offer. If you are qualified with good work experience you will be fine with or without the CFA. If you don't have the proper experience the CFA will never make up for it.
It is not specific but it will help in any finance career. Moreover, if you change your mind and decide to go other area, you will already have this knowledge / stamp.
I don't mean to hijack this thread but why is the GMAT so important for PE?
The only thing that makes sense to me is that it's a line item on your resume that conveys how smart you are. E.g. If you get over 700, they'll let you join the club.
Well if you plan to go to business school obviously.
It's not a bad line item to have on your resume. I just got reached out to for my first potential VP job and these guys asked for my resume, SATs and GMAT. I haven't taken the GMAT and my SATs kind of sucked so in my situation I would consider the GMAT valuable.
If you want to break in somewhere try a crowbar
haha made my night
I already have an MSF, and will not be going to business school unless my employer funds 100%. Any recommendations with respect to books, training, etc to prepare for LBOs and the like?
Hey saw23, great strategy to wait your employer fund 100% of MBA...do you think it works?
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