Entrance Requirement for CFA program
Hello, been looking for an answer to this question for a while.
The CFA institute says that the entrance requirement for the CFA program can be met by "four years of professional work experience(does not have to be investment related)".
I'd like to know if this work experience is still expected to be finance related or even white collar and if my five enlisted years in logistics in the navy would possibly count.
Thanks.
I don't think anything in the navy would count, but you can email the CFA Institute if you want to know for sure.
Here are the requirements: http://www.cfainstitute.org/community/membership/process/Pages/index.as…
This is for 'regular' enrollement to be a charterholder. It's pretty clear about requiring that you've worked for 4 years in finance to be a charterholder. I'm guessing you could email them and see how you'd fit into this, maybe your work would match up.
The other thing is this, you don't have to have four years of experience to enter the program: http://www.cfainstitute.org/programs/Pages/index.aspx
This means that you can start taking the exams and then get work experience along the way AND having level 1 or 2 often helps with getting a job. The problem with the CFA is that it's just a credential with no recruiting....that's on you.
It's far more straightforward to just get an MBA, as it is typically just two years and opens up recruiting. CFA is just a credential and most people who have it are already working. Get into the BEST FULL TIME MBA program you can, as certain companies only recruit at certain schools.
You can always network, and the military network is very very strong. You can also look at masters programs. Again, the major selling point of a school/credential is how much it helps you get a job: this stuff isn't rocket science, it's just tough to break in. If a program offers recruiting into a field, then it's far more likely you'll get the job you want.
I don't think the OP has a degree. He is talking about using four years of professional experience to substitute for his lack of degree. On the second page you linked to it says:
What is required to enter the program? You must have one of the following:
OP.......do you have a degree? If not you can't take this. In the case you have to go to college, consider yourself lucky in a weird way: you get to recruit directly from undergrad and don't have to worry about GMAT, CFA, and all that other extremely tedious stuff. At least for a while...
Assuming you have your bachelor's degree I think it's very unlikely that your work experience in logistics would count towards the charter's work experience requirement. The CFA Institute is very picky about work experience. If you don't have your bachelor's degree then you need to go back to school and earn your bachelor's to be eligible.
That being said, you can begin taking the CFA exams now and get those out of the way. You just won't be eligible for the charter until you meet both the education and work experience requirements.
Hello, sorry I did not make my background more clear.
I do not have a degree yet. I'm currently a sophomore in school. I'm not asking about work requirements to become a chart holder, I'm asking about the entry requirements to take the first exam.
The CFA institute lists four ways to fulfill the entry requirements for the first exam:
"1) Have a bachelor's degree 2) or be in the final year of your bachelor's degree program at the time of registration 3) or have four years of professional work experience (does not have to be investment related) 4) or have a combination of professional work and college experience that totals at least four years. Part-time positions do not qualify, and the four-year total must be accrued prior to enrollment."
I'm interested in option three, and I was asking if anyone could give me more specific info what type of work experience would/would not qualify under that option. Do you think my five years of logistic work in the enlisted military would possibly qualify?
I know the CFA institute is the final authority but I've already contract them and they said they can't comment on specific cases.
Thanks.
Oh yeah, duh, option 3 allows you to start taking the tests. You just can't be a charterholder. Put CFA III on a resume though, and it carries about the same weight.
Honestly, if you're getting your degree now, focus on normal recruting and make the CFA a second priority. I don't know what your goals are, but CFA isn't necessarily the best way to do things.
Excerpted: Studying for the exam requires an obscene amount of time – almost 1,000 hours according to the website.
Think about how much networking you could do in that same amount of time: let’s assume 900 hours of study time for the CFA (300 hours per level).
Assuming you can plan and conduct 1 informational interview in 1 hour total, that’s nine hundred new contacts.
Which do you think will be more useful: a single line at the bottom of your resume, or almost 1,000 people who can help you get interviews?
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