Ask me about the CFA program

[kevkev60614]

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This question is really unrelated to the CFA certification, but nevertheless, maybe you or someone here has an answer. I'll be a CPA shortly, but I was curious about the difficulty/value of getting a CFP certification. Any thoughts?

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I have no experience myself with the CFP certification, but from what I've been told you'll have no difficulty passing it if you are getting your CPA. There's a lot less material and it's easier to absorb. The exams have higher pass rates and are less quantitative than either the CPA or CFA exams.

The CFP certification is often most appropriate for people in sales-like positions as I understand it. Brokers, etc. I think it's pretty rare for someone to pursue both a CPA and a CFP.

[kevkev60614]

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how helpful is having passed level I in finding a good job out of school? what about level II?

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As I imagine you'll find with pretty much any certification relevant to the job you seek, the further you progress in the CFA program, the easier it will be to find a job and command a larger salary. But as I said earlier:

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An MBA is respected in nearly every field, but a CFA charter is often not as highly regarded outside the investment profession.

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The CFA program isn't something to undertake lightly. I'd only consider it if you're really very certain about your career path. I don't think that many people coming out of college can be that confident. How many times does the average person change careers in a lifetime?

I don't want it to sound as if I'm talking anybody out of the program. Far from it. I learned a lot in the program, and without my candidacy I would never have landed my current position. It was absolutely the right move for me, but it's not the sort of process I'd enter into without giving it a lot of thought beforehand.

One last thing to consider: program enrollment + exam registration (which includes books as of 2008) + prep course (optional, I went without) + practice exams (optional, I did take them) = sometimes it's best to let your employer pay. $1,000 at least for your first exam.

[stinkypete]

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how helpful is having passed level I in finding a good job out of school? what about level II?

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As I imagine you'll find with pretty much any certification relevant to the job you seek, the further you progress in the CFA program, the easier it will be to find a job and command a larger salary. But as I said earlier:

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that sounds like a [censored] answer that anyone could have come up with without any actual knowledge of the program. obviously it helps. that's why it's there. but how much does it actually help? do you really have any knowledge of this or is the point of this thread just to brag? .

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An MBA is respected in nearly every field, but a CFA charter is often not as highly regarded outside the investment profession.

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The CFA program isn't something to undertake lightly. I'd only consider it if you're really very certain about your career path. I don't think that many people coming out of college can be that confident. How many times does the average person change careers in a lifetime?

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the CFA program is something i've been undertaking lightly. passing the first exam was a breeze, and my background in finance before picking up the stalla prep CDs was practically zero. i imagine level ii and level iii will be more difficult (though probably still easy), but is it worth the effort?

also, even if i decided not to go into finance, i don't think studying for level I would be wasted. if you're ever going to have any money to invest, you should at least know the basics of finance, which is what level I is. being certain about your career path isn't at all necessary to take level i - i don't see why you suggest that. if you're interested, do it. once you've taken it the first time you can decide if you want to move on to level II or III (or if you fail, you can decide if you want to take it again). even if you don't end up doing level II and level III, you probably won't regret studying for level I.

but i figure if you're smart enough to pass these without too much effort, you should be smart enough to progress in your career without having some silly certification. how useful is that little piece of paper or whatever it is in actuality?

[howdydudey]

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how useful is that little piece of paper or whatever it is in actuality?

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Enough to make median salary 233k for a charterholder w/ ten years experience as of a few years ago. That is more than someone w/ a MBA,

[stinkypete]

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how useful is that little piece of paper or whatever it is in actuality?

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Enough to make median salary 233k for a charterholder w/ ten years experience as of a few years ago. That is more than someone w/ a MBA,

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but that's less than i'd expect to be making with ten years of experience anyway (and a LOT less than i'd hope to be making). numbers like that don't mean anything.

[kevkev60614]

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how useful is that little piece of paper or whatever it is in actuality?

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Enough to make median salary 233k for a charterholder w/ ten years experience as of a few years ago. That is more than someone w/ a MBA,

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Just out of curiosity howdy, where did you see that number?

[kevkev60614]

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how helpful is having passed level I in finding a good job out of school? what about level II?

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As I imagine you'll find with pretty much any certification relevant to the job you seek, the further you progress in the CFA program, the easier it will be to find a job and command a larger salary. But as I said earlier:

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that sounds like a [censored] answer that anyone could have come up with without any actual knowledge of the program. obviously it helps. that's why it's there. but how much does it actually help? do you really have any knowledge of this or is the point of this thread just to brag? .

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No, I don't know anyone who has taken the exams while still in school. I can't really say how a college recruiter would react to learning that you'd passed an exam or two. I'd guess that he'd be impressed by your committment to the industry and your ability to separate yourself from candidates. But I can't say for sure. Also, I don't get the hostility. I don't really think I've said anything that can be construed as a brag.

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the CFA program is something i've been undertaking lightly. passing the first exam was a breeze, and my background in finance before picking up the stalla prep CDs was practically zero. i imagine level ii and level iii will be more difficult (though probably still easy), but is it worth the effort?

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And I'm the one bragging?

I've heard of people breezing through the first exam by putting in little effort, but I think you're the exception to the rule. I haven't heard of anyone breezing through the second or third exams. Yes, it was worth the effort for me.

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also, even if i decided not to go into finance, i don't think studying for level I would be wasted. if you're ever going to have any money to invest, you should at least know the basics of finance, which is what level I is. being certain about your career path isn't at all necessary to take level i - i don't see why you suggest that. if you're interested, do it. once you've taken it the first time you can decide if you want to move on to level II or III (or if you fail, you can decide if you want to take it again). even if you don't end up doing level II and level III, you probably won't regret studying for level I.

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What you should learn during level I goes well beyond what one would need to know to invest his own money. If investing your own money intelligently is your goal, I'd recommend picking up a couple of books on your own. I learned a great deal through taking the exams; I just mean to say that if one is still deciding between the investment profession and public accounting, for instane, they should probably put off registration. Remember that you seem to have gotten through the first exam by putting in less effort than 99% of those who pass.

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but i figure if you're smart enough to pass these without too much effort, you should be smart enough to progress in your career without having some silly certification. how useful is that little piece of paper or whatever it is in actuality?

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First of all, the exams don't measure how smart you are. They measure how well prepared you are. You're perfectly capable of passing the exam with a double digit IQ, you'd just have to put in considerable more time than the average candidate. Second of all both the process of taking the tests and the "piece of paper" itself are helpful in becoming a successful, well payed individual in the investment industry.

[Phone Booth]

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the CFA program is something i've been undertaking lightly. passing the first exam was a breeze, and my background in finance before picking up the stalla prep CDs was practically zero. i imagine level ii and level iii will be more difficult (though probably still easy), but is it worth the effort?

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And I'm the one bragging?

I've heard of people breezing through the first exam by putting in little effort, but I think you're the exception to the rule. I haven't heard of anyone breezing through the second or third exams. Yes, it was worth the effort for me.


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Actually it's the other way around. It's impossible to pass the first exam without at least cramming for about a week or so because of the sheer amount of arbitrary terminologies being introduced. You can, however, pass the second exam without studying at all if you have fully absorbed the material from the first exam, because most of the new material being introduced is logically sensible (thus derivable during the exam).

[Foghatlive]

This might be a bit more of a general question.

I currently work in Real Estate Mgmt, but I'm getting tired of it and am considering a career change.

I've always been interested in financial markets and I live in Manhattan. Are there any opportunities available on Wall St. for a guy pushing 40?

I have a BBA. But, I'd be willing to go back to school.

[kevkev60614]

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Are there any opportunities available on Wall St. for a guy pushing 40?

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I'm really not the right guy to ask. I don't know much about real estate management or what you were doing, I don't know what you'd be interested in doing, I live in Chicago and I'm 27. Sorry. I'd give more detail about what you want to do and how much you expect to make and then hope someone other than me sees your post.