Chartered Financial Analyst (CFA)
 

Hey.

I am just graduating university (in May) with a finance degree and am having a bit if difficulty finding a job. I feel that although i have a couple certifications, im lacking job experience (played poker for previous two summers).

I was thinking of doing my CFA starting in the New Year. My worry is that I will not be capable of passing all three exams, as I have heard its VERY difficult. I have heard it has a 30% pass rate and I would imagine that only v. intelligent and educated people attempt it.

Being a pessimist/realist, I was wondering if there is any value in doing the exam if I only expect to pass the first one or two.

I want to go into Wealth Management/Derivaties trading..

thoughts ideas?
Thanks

Re: Chartered Financial Analyst (CFA)
 

CFA is something that will be helpful, probably more helpful because people like to hire CFA's rather than helpful because you will learn a lot. the tests are not that hard. the pass rate might be low, but if you resolve to pass it you will.

Re: Chartered Financial Analyst (CFA)
 

Hawk is right. The tests cover things that weren't covered in what I learned to get my degree in finance. From what I remember of looking at a sample of the first test (They are available on their website, but I am lazy.) they go into more detail on currency trading and risk and understanding financial planning for individuals and businesses.

It all fits into finance theory; you just might not know it/be familiar with the subject matters being tested. They are not hard but each of the tests takes around 200 hours of studying to pass, which can be a problem for lots of people because they're likely working a full time job (or more) and having to study for the test. People don't study enough, which is why so many people fail the first one.

The CFA is a very well respected designation because it requires work to receive and the knowledge you gain is applicable for the jobs you would be applying for.

I have no interest in getting a CFA so think of this as second hand information and continue to look into things to make sure a CFA would be the right choice for your goals.

Re: Chartered Financial Analyst (CFA)
 

[ QUOTE ]
I want to go into Wealth Management/Derivaties trading..

[/ QUOTE ]
Huh? Wealth Management is comprehensive financial planning for wealthy households. CFP would be a better designation for that. Derivatives trading is a lot different. Do you want to make derivatives trades for a hedge fund? Maybe CFA will help, I have no idea.

Don't let certifications be some kind of crutch. Keep looking for work. Having additional certifications will probably not help you find your first job any better.

-Tom