So here’s the situation. I have gotten into my target MSF program and have accepted the offer. I start in august. my current job has a tuition reimbursement program, and I have a few thousand dollars left that I can utilize. cfa is eligible for reimbursement- so long as I pass! my goal is IB, and I want to do everything I can to help myself achieve this goal. I do not have $1400 to drop on cfa registration, so I was considering taking out a private loan to pay for the test. what are your thoughts on taking a loan out for the cfa? consider that I can be reimbursed if I pass, but if I don’t I will have to service this loan at a pretty high rate.
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Hey ColdDinero, I swear if I had a silver banana for every lonely thread I posted too I'd be richer than @compbanker ...
I hope those threads give you a bit more insight.
If you can’ afford the 1400 to take the CFA lvl 1, you should probably not take it. Why stress out before you start a MSF program by taking on debt for this exam, esp given the test is 100 days away. Do your MSF program, get a job post-school and then ace level 1...at the end of the day, it won’t make much of a difference for your career.
CFA is marginally helpful for IB at best.
thank you! I was thinking the roi of passing wouldn’t be high enough but I am glad I asked. thank you for confirming
There are some variables at play here. One is for the reimbursement program, is it contingent on you passing all three levels, or is it per each level once passed you get reimbursed? Also, as it pertains to IB- you need to seriously focus on whether or not this will help you land a job- from my understanding it won't really help landing a job, but it is extremely helpful in terms of mastering accounting and finance concepts, beyond that it sets you apart from the crowd when it comes to hedge fund/PE recruiting (if that's what you want to do long-term). If your long-term goal is IB, I would say to just focus on networking as much as possible.
I get reimbursed per passed test. So passing level 1 I will get reimbursed for level 1 costs, then passing level 2 I will get reimbursed for level 2 costs and level 3 the same. Thanks for the input. I think I’ll wait to take it
So you'd take out a high interest loan, probably 10%+ on 1400, in order to register for the test and then you'd absolutely have to pass in order to get reimburst. So you're essetially taking the test for $150 each time, unless you fail in which you'd start to eat more of the payments on interest? All so you can get a certification that isn't applicable at all to IB?
hahah touché! I was not aware that the cfa was not applicable to IB. I will refrain from taking a loan out for it. thanks for the perspective
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