Useless efforts to obtain CFA®

How many kids do I see in back office/mid office/IT/etcs trying so hard to obtain the CFA®?

To me, this appears completely useless in most of the cases. Some of these kids are all looking for the high paying jobs the financial industry promotes, but I feel like none of them truly understand the world of finance and the limited jobs there are.

I also find it very difficult for people to jump from a back/mid/IT position to IB/CB/WM/PM.

thoughts ?

 
Dibbs:
I also find it very difficult for people to jump from a back/mid/IT position to IB/CB/WM/PM.

If only there was some kind of certification that could be acquired by back/mid/IT people that would improve their knowledge and marketability for IB/CB/WM/PM positions. Someone should work on that. Oh, wait...

 

I agree. And contrary to what people say here, I believe it does help. I'm not in a FO role but I've gotten some interviews because I passed the Level 1 in addition to other factors in my resume. It shows dedication to be in the industry even though you're not currently. In addition, you learn a lot of stuff that you wouldn't necessarily learn by reading the guides.

 
Best Response

By "truly understand the world of finance", I meant that the people I've met in BO/MO/IT roles that are doing CFA is to gain access to FO/IB/PM jobs and that most of them think they will be automatically making tons of money by working close to the money. That they will be "ballin".

I had a conversation with one of the IT guys a few weeks ago, and he was telling me about his motivations of doing CFA. His motivations are that he believes that obtaining CFA will enable him to gain access to an analyst position in IB.

To be honest, I believe that's being dishonest with yourself. I think it's even harder to gain access to an IB role once you've started a career in IT/BO/MO.

@pivot1990 : I agree, once you've started in this field, it's a must if you want to go up the corporate ladder. But this is not the situation to which I am referring.

 

Perspiciatis et quod voluptatibus aut. Iure possimus vel reprehenderit vel sunt saepe qui dolor. Quis ducimus quas quisquam incidunt et. Illum eligendi sed ut quisquam. Velit maxime assumenda hic veniam quia.

Et tenetur minima sit qui porro qui. Consequuntur qui dolores perspiciatis cumque ea. Est expedita accusamus ut suscipit qui itaque rerum.

Dolor qui porro fugiat optio porro cumque. Et et necessitatibus ipsam.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
DrApeman's picture
DrApeman
98.9
9
kanon's picture
kanon
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”