I am currently at a topp BB in a finance rotational program and will be going to LSE this fall for a MSc Accounting and Finance. I already have a CPA and am thinking about studying for the CFA®, as I am interest in equity research/Asset Management.
My question is, do you guys think it's worth it (in terms of money and time) to pursue a CFA® Charter if I already have a Masters and a CPA? I am currently studying for lvl 1 but I feel that a lot of the material is irrelevant to what I will be doing (ethics for example) and honestly all this studying is burning me out.
Is a CFA® charter a necessity in asset management or would it be sufficient to read books to get the technical knowledge and just perform well on the job?
It is a lot of time, but I'd be surprised if your fund did not pay for your CFA. Senior PMs generally have a PhD / CFA / MBA or some combination. I don't think it's so important to have it before joining a fund, but it's worth picking up along the way.
Honestly an MSF from LSE and a CPA is impressive enough of a credential IMO. I can tell you first hand that the CFA will require a lot of personal sacrifice, and may only provide marginal value in terms of knowledge given your two other credentials. It all comes down to this: will your company give you a salary boost or put you on the fast-track to promotion with a CFA? Will certain, more coveted roles become available to you if you had the CFA (an asset selection role rather than a reporting role, for example)? This depends on the structure and culture of the specific firm/group that you will be at.
Why don't you just wait until 1-2 years after graduation from LSE, and then agree with your company on the costs and your development? I think that's a better idea than just doing it on your own alongside the other studies. On a side note: I cannot imagine that Ethics is irrrelevant for you.
Just felt that it may be beneficial to get the CFA over with (if I have to that is) as soon as possible.
As Notepad says, I would negotiate having your CFA paid for.
At the end of the day, performance is what matters the most in AM, but I do believe the CFA is worth it. I have a post on the subject here, if you are interested:
http://www.lifeonthebuyside.com/mba-vs-cfa/
CFA is pretty worthless
Just do it. You are still in study mode. Better get it now then when you are 5+ years into your career.
the CFA takes so much more time in L2 and L3. If you can get through L1 do it then wait to take the next 2 exams til you graduate and your firm will pay for it. As long as they see you are pursuing it I cannot ever see them not giving you a promotion because you do not have it.
and btw ethics is necessary to sit down and take an exam on it since if you are a CFA candidate you have to know the rules that CFAI sets.
anyone that tells you CFA is worthless is a glorious idiot, you just dont have to get it right now. congrats on getting into a MBA program.
im a CFA. it's worthless. doesn't cost much in time or money though
the fact that you call yourself a CFA is a huge fail. doesnt take time? who are you kidding bro
I recently finished off my MBA, and I'm writing L3 this June (I wrote L1 and L2 during school). I'd say it's totally worthwhile to do the masters / CFA at the same time. I found that the amount of overlap was pretty significant - it'll probably be even moreso for you if your program focuses on accounting and finance. In terms of workload, it's doable.
CFA worth it if I have a top MSF/CPA? (Originally Posted: 03/31/2011)
Posted this earlier in the Asset Management forum, but felt that posting here may result in more replies...
I am currently at a top BB in a finance rotational program and will be going to LSE this fall for a MSc Accounting and Finance. I already have a CPA and am thinking about studying for the CFA, as I am interested in equity research/asset management.
My question is, do you guys think it's worth it (in terms of money and time) to pursue a CFA Charter if I already have a Masters and a CPA? I am currently studying for lvl 1 but I feel that a lot of the material is irrelevant to what I will be doing (ethics for example) and honestly all this studying is burning me out.
Is a CFA charter a necessity in asset management or would it be sufficient to read books to get the technical knowledge and just perform well on the job?
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