Will a CFA Level 2 pass help in an MSF admission? Is my general strategy right?
Will it make up for my 3.0 GPA (in finance and economics dual major) from kelley, IU?
What schools should I be looking at?
The reason I want to do an Msf is because I can't find a job where I currently live (middle east-weird market, no opportunities for fresh grads) and I want to go back to the US, get a second chance to get a job there.
Should I look at Msf programs in Europe? I'm reluctant because how would I get a job there, considering the current economic climate, and the fact that I'm not European? (I'm Indian)
I haven't taken the GMAT yet, plan on taking it next month, aiming at a 700+, got all the time in the world (for one month) to prepare for it.
Ideally, I would pass Level 3 before I start the MSF program, and just network my nuts off for a year, and hopefully I'd be able to land something by then...
CFA is great and helps adcoms feel better regarding your ability to excel in a program if you have a weakness. That being said, it isn't a cure all. I think a 3.0 from IU is OK though.
hmm, what schools do you think I have a shot of getting into, assuming I get a 700+ GMAT?
It depends. I mean the average GMAT for many of these schools is 680. So 20 points on a GMAT might not make up for the GPA.
I'd say UIUC, Nova, maybe Vanderbilt. WUSTL depending on the gmat. IU is a good school and the B average is OK. Like below a 3.0 and you have to sell, but a B checks the box generally. USC would ding you. Claremont is probably tough at best. UT Austin is a maybe.
I was in a similar situation having passed two levels of the CFA exams before entering one of the top US MSF programs. I think it helps in two ways; one being you've already learned much of the material (> 60-70%) that is taught in the program, which should translate into a higher GPA and mitigate their concerns of you not doing as well in class.
Two, it will also help you communicate your story to admissions. Most people entering these programs are very intelligent students coming straight out of undergrad, but a lot of them lack a convincing story as to why they want to do whatever (Banking, ER, Consulting..). Passing two levels of the CFA exams clearly demonstrates that you have somewhat of a plan as to what you want to do and that will help your chances of getting in with a GPA that is lower than their average.
Value of CFA Lv. 2 for MS Finance (Originally Posted: 01/31/2017)
Hi all,
I have passed my CFA Lv. 1 exam in December 2016 and am planning to apply to top Mfin programs in the US and the UK by the end of this year/early next year. (For a 2018 Fall admission)
I'm wondering how big of a value-add would CFA Lv. 2 be on my profile:
International student, 7.9 CGPA, along with 1) An A+ in LSE's Summer School (Options, Futures and other Fin. Derivatives) - one of only 3 students to do so 2) 4-6 week internships in (a) Equity Research (b) Asset Management (c) FO boutique IB firms that are well known in India 3) A one year full time internship (with really great work and a good profile) at a well known American Index provider - which would most likely convert to a full time position in the next six months (P.S. the job requires technical proficiency in SQL and Python) 4) A research paper on Portfolio Optimization (with some C++ coding involved) which would likely make it to an international journal (if not, a domestic one) with an impact factor of ~3 5) A 1st place finish in one of Asia's largest college tech fests for a project on wealth management 6) A 1st place finish in India and 26th overall in the BNP Paribas Ace Manager competition, 2015 7) Editor of the college's Fin magazine and managed the college's finance club's investment fund 8) University level and district level Table tennis player and I've dabbled in social work 9) Cleared CFA Lv. 1 scoring in the top category in each subject 10) Currently doing Berkeley's pre-program MFE courses in Math, Stats and C++
Would an FRM Lv. 1 (instead of CFA Lv. 2) make the profile more well-rounded or would it just make me seem more confused?
Or is there something else (besides CFA or FRM) that I could devote my time to, that would improve my chances?
Thanks in advance!
If you have time and the money for it, do it. But the impact on your CV will be less that meaningful. The way I see it is that recruiters will like to see that you are in the CFA process and already passed an exam. But many of those masters in terms of content are really similar to CFA curriculum. So you might also appear overqualified and this could be a red flag. Why this guy would join our program if he doesn't need it?
I was encouraged by admissions committee in LBS to apply for the MFin because I had CFA L2 and 2 years AM experience. They told me they encourage to apply less than 30% of the CVs they receive.
Tximu
Hey, that's wonderful! Congrats, BTW.
So am I right in assuming that my work-ex is on the lower side, as far as LBS's MiF is concerned? And are there any other places that I should be looking at?
I don't think your experience is on the lower side. The internships are good and your full time job, even if is not 100% related, may be good enough. I think that obtaining CFA L2 would help you a lot.
I think that your main targets should be LBS and LSE. Then you could try IE or Bocconi, but I think that London location is crucial.
Disclaimer: I didn't enrol in the MFin. I preferred to wait and apply for the MBA, which I'll start this summer.
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It will absolutely help, just be prepared to explain why you want an msf since you basically have all the knowledge and then some.
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