CFA at this stage of my career?

[KEK]

Considering doing a CFA, be good to get some feedback from others in a similar position.
I recently completed a Master of Applied Finance, the uni I went through is a CFA partner program. Therefore the units I completed there is approximately 70% overlap on the CFA content.
I’ve got 5+ years experience in finance. Prior to my masters I was working for a PE firm as an investment analyst, and have also done consulting mainly in the superannuation space (pension funds).
Like most, I’m finding it tough to get into a fund, everyone seems to have the similar qualifications and some decent experience under their belt, so I guess it’s always coming down to the 1% difference at the final stages in the interview process. Let’s just say over the last few months I’ve been runner up 3 times.
How have others found having the CFA on the CV, obviously it’s not a golden ticket but is it making significant difference in your marketability? I guess I’m looking at it from the perspective of someone with a few years experience and has postgrad of some sort in finance.

 

[che24]

Hi KEK, taking the CFA kinda seems like a long term solution for a short term problem.
Looking at the job ads in Australia, it seems the CFA and Master of Applied Finance are interchangeable, which is also backed up by your comment that you have covered 70% of the material already.
And having - CFA Level 1 (or 2) candidate on your CV will not help much. If you really want to study something, perhaps CAIA or FRM would be better. You could finish the program much quicker and also differentiate yourself.
Also, even though you know most of the material it takes time to learn the nuance of the CFA structure. This time is probably better spent networking or working on your interview technique.
Anyway, good luck with the search.

 

[swatbsba]

OP - I don’t have much perspective on this (I’m really just starting out my career at this point), but I think, given your past experience, the CFA program might not add as much value in terms of supplemented marketability per time opportunity cost of the endeavor.

 

[itera]

che24 wrote:
And having - CFA Level 1 (or 2) candidate on your CV will not help much. I

I would agree with this OP. especially since you say you already got 5+ yrs of work experience, it’ll be at least a couple years after you’ve passed L2 where people may (key word: may), start to take notice of your CFA involvement.

 

[Ghibli]

Join the club. Finish L3 in June 2016. Be done with it. I would feel silly not having it. It’s a great curriculum and accomplishes the mission. Demonstrates a minimum level of fitness in finance. If you already have that fitness, the exams should be no big shake. If you don’t, more of a reason to go through the program.

 

[Greenman72]

itera wrote:

che24 wrote:
And having - CFA Level 1 (or 2) candidate on your CV will not help much. I

I would agree with this OP. especially since you say you already got 5+ yrs of work experience, it’ll be at least a couple years after you’ve passed L2 where people may (key word: may), start to take notice of your CFA involvement.

Agreed.
“Level 1 Candidate” = “I have a bachelor’s degree in basket weaving and have an extra $1,000 to blow on a test. I haven’t even studied for it, and have absolutely no idea what it’s about. There’s about a 10% chance that I’ll actually finish the program.”
“Level 2 Candidate” = “I have a bachelor’s degree in finance/accounting/economics and actually paid attention in class. I’ve passed the entrance examination and am now ready to begin the real CFA program. There’s about a 20% chance that I’ll finish the program.”
When you’re able to put “Level 3 Candidate” on your resume, then I think people will start to notice.

 

[hpracing007]

^ That was my experience.

 

[heavenskrow]

Greenman72 wrote:

itera wrote:

che24 wrote:
And having - CFA Level 1 (or 2) candidate on your CV will not help much. I

I would agree with this OP. especially since you say you already got 5+ yrs of work experience, it’ll be at least a couple years after you’ve passed L2 where people may (key word: may), start to take notice of your CFA involvement.

Agreed.
“Level 1 Candidate” = “I have a bachelor’s degree in basket weaving and have an extra $1,000 to blow on a test. I haven’t even studied for it, and have absolutely no idea what it’s about. There’s about a 10% chance that I’ll actually finish the program.”
“Level 2 Candidate” = “I have a bachelor’s degree in finance/accounting/economics and actually paid attention in class. I’ve passed the entrance examination and am now ready to begin the real CFA program. There’s about a 20% chance that I’ll finish the program.”
When you’re able to put “Level 3 Candidate” on your resume, then I think people will start to notice.

How true is this’?

 

[MrSmart]

heavenskrow wrote:

Greenman72 wrote:

itera wrote:

che24 wrote:
And having - CFA Level 1 (or 2) candidate on your CV will not help much. I

I would agree with this OP. especially since you say you already got 5+ yrs of work experience, it’ll be at least a couple years after you’ve passed L2 where people may (key word: may), start to take notice of your CFA involvement.

Agreed.
“Level 1 Candidate” = “I have a bachelor’s degree in basket weaving and have an extra $1,000 to blow on a test. I haven’t even studied for it, and have absolutely no idea what it’s about. There’s about a 10% chance that I’ll actually finish the program.”
“Level 2 Candidate” = “I have a bachelor’s degree in finance/accounting/economics and actually paid attention in class. I’ve passed the entrance examination and am now ready to begin the real CFA program. There’s about a 20% chance that I’ll finish the program.”
When you’re able to put “Level 3 Candidate” on your resume, then I think people will start to notice.

How true is this’?

Depends on how early you are in your career.
A L2 candidate looking for an entry job should be more impressive than one working for 5 years and trying to switch careers. It tells them that you’re most likely going to finish the program, and not using it as a crutch.

 

[KEK]

Thanks for your input guys.
A big part of me wants to pursue the CFA, but as others have stated the time cost benefit is a big consideration. Don’t want to do it half assed and get to through L1 and then pull then plug. If I do it I want to commit myself all the way.