CFA® CIPM Program
I came across this new certification called CIPM being offered by the CFA® Institute.
http://www.cfainstitute.org/cipm/resources/Pages/…
Just wanted to gain some perspective on this in case anyone has some idea around this
reg.
1. Any specific industry niches which look for this certification
2. Does it make sense for a CFA® charter holder to pursue one
Thanks in advance
the cfa prog covers all this already. don't see a reason unless you work in investor relations or compliance.
I do think investment compliance and performance measurement is an emerging area and could be an indirect route HF/PEs through a support role. Just wanted to understand if there is any kind of market for this certification or is relevant wex the only way to go.
i have the CFA charter and although i haven't worked in IM, but instead PE and just completed my MBA at a top program, the CFA is still the gold standard for certifications in the industry. i've never heard of the CIPM and imagine it will take a while to build credibility, even the CAIA is not all that recognized. i would focus first on attaining the CFA charter and then decide if you want to pursue the CIPM as an extension. chances are like me you'll never want to take an exam again.
First the CIPM isn't new at all, it's been around for 10+ years. Plenty of ops people have it.
Second it really is just half the material in Level III. So getting this in addition to the CFA is silly. If you are front office or MO you would never go for this. If you're looking for something else do the CAIA which is gaining lots of ground in the states and v well respected in Europe, or possibly the FRM.
Hey thanks for the detailed reply didn't realize CIPM was so old I personally am giving my CFA Level III exam this June and hope to clear it (fingers crossed)
On a related how much street cred does the CAIA have, does it open any doors in the Alternate Investments industry or is it just like an add on CV point to position myself as a better candidate for the job.
No problem man. I'm jealous of you I flunked Level II last year and am writing again in 4 weeks. But I've been studying like a fiend, so I'm actually feeling pretty good and putting up good scores on practice tests for 27 days out.
The CAIA really depends. Full disclosure I have it, and let me just say this, it will never get the same level of respect as the CFA because it's not as encompassing. In my firm we do a lot of pension consulting, asset allocation work, which is where the CAIA shines the most. The past 3 HFOF teams I met had at least 50% CAIAs. If you want to do actual L/S Hedge Funds, P/E, the CAIA isn't as helpful. My goal has always been to run an endowment, or big state pension fund. When I first moved into finance I looked at all the people I wanted to be work with/ under, and tried to mimic their career paths. So long story short, get the CAIA if you want to do HFOF/ endowment/ pension plan management. Other than that it won't help as much.
Best of luck on Level III, and fwiw, the CIPM is going to encompass all of the menial performance, and hundreds of lists that you'll never remember after you hit the bar on June 2nd. So I'd avoid that one, and only do the CAIA if you fall in the category above.
Thanks a ton! for your detailed reply and best of luck for the Level II, exam crack it this time buddy
This is why I love WSO, good relevant advice without the trolls taking over
Sitting for L3 in June as well. Completely unprepared at this point (just got a new job so put studying on the backburner). How are you feeling?
Best of luck.
Ah actually I just rewatched the Schweser video again and it makes sense. I see it now it just took 5 months it seems like. The fixed rate that is calculated at the begging doing the 1 - z4/ z1+z2+z3+z4 is used as each coupon. The thing I never got was why they always moved the problem forward 120 days, and suddenly it just clicked. Come on stupid FutureBanker, if you valued at initation it would be arb free. My brain works really funny some times. Now it's pretty straightforward plug and chug, and I'm praying to get some of those or binomial pricing on the test.
Took me a while to nail down swaps on L2 as well. I remember on the exam the swaps question was worded much differently than I was used to in the practice problems. You need to understand it conceptually in addition to being able to plug and chug. I probably got half that item set wrong even though I thought I had a good understanding going into it.
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