Dual CFA® /CPA Designation
I remember looking at a pretty well known Newport Beach HF a while ago and noticed that ~75% of analysts on their website had a dual CFA® /CPA designation. I thought it was kind of an odd mix to have, but apparently someone wants to hire them. Anyone else have/know anyone with a dual designation? Does this open a lot more doors or is this a very fund specific need? I also can't help but wonder what designation came first and how those analysts ended up where they are today. (Wish I remembered the name of the fund).
Note: I also noticed some guys with a CFA®/CPA/MBA designation. That is a lot of fucking letters next to your name.
I would think that they attained the CPA first, and that the fund hires people with a top-notch accounting background to pursue a particular set of skills. What fund is this? Their investment strategy probably tells why they hire people like this.
I don't think it's worthwhile to pursue both if you are pursuing a career in finance (likewise if you want to work in accounting). It would probably make you a much more qualified candidate for any job, but the amount of work required to get to that level is huge.
May as well just become an astronaut at that point.
bro just because 1 fund has it does not means that all funds req it as norm :/
It's definitely not an unheard of thing to have CPA/CFA, but it's not going to be a prerequisite to have both probably anywhere. If someone does advertise a job looking for both, well, that's likely a very rare occurrence.
Is it going to look good if you have both? Sure. Is it necessary? No, and you can probably spend that extra time getting better at your job and learning more about your industry. That's what they're really going to care about, CFA/CPA doesn't make up for not having a clue what you're doing.
I have CFA/MBA. once you get them you realize you've wasted a lot of time ....
Should I aim for both a CPA & CFA? (Originally Posted: 08/30/2013)
I am presently a sophomore at a top 50 business school (top 15 public, "public ivy"). I've been looking at all options to prepare myself to have the most lucrative career possible and have recently been considering the possibility of obtaining both a CPA & CFA certification. Would this put me at a significant advantage over others, would it be worth the additional stress and work?
No.
Why would you do this? To obtain the CPA, you need 1 yr accting work experience, and to obtain the CFA you need 4 yr investment related experience. Most people that are CPA/CFAs were CPAs who took the CFA to break out of accounting. CFAs rarely get the CPA.
I find it best to pursue as many designations as you can, be a whore of sorts.
Completing the first level of the CFA can help get HR interested in you, but if end up with average grades at uni as the trade off then you're shooting yourself in the foot. Most of the content in level one will be covered in your university classes anyway and the first level will take up 300 hours of your time, which is a bit more than half the total hours you should spend on your uni study in a single semester. Think about it carefully because the alternative is good grades in key finance/accounting subjects and more time to prepare for internship applications and interviews.
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