CFA Career Advice

[laurierstudent]

Hello

I am a Laurier (university in Waterloo, Ontario) student who has completed 3rd year university in a business program and have been working at an accounting firm for the last 4 months. I was going to pursue a CA (chartered accountant) but now am not so sure because I don't like the work. I would like to switch to finance and specifically portfolio and risk management for institutions or mutual funds. I will go back to school in Sept. and likely take finance courses and then will likely pursue a CFA.

I have a couple of questions:

If I want to work for an institution working in portfolio or risk management, is CFA the right choice?

Is it difficult to get a job out of university with the idea of pursuing a CFA at an institution such as an insurance company or a large bank (in either Toronto, Waterloo or London, ON)

What kind of money would one get right out of university?

Would taking courses from the Canadian Securities Institute help me get my foot in the door at an institution after I graduate from university? (such as Canadian Securities Course, Portfolio Management and Derivatives courses)

What would people say are the average and median salaries for a CFA charter holder in North America?

Any answers would be greatly appreciated. Thank You



Edited 1 time(s). Last edit at Thursday, May 4, 2006 at 12:47PM by laurierstudent.

 

[Carter]

Hey, if you want to work in the investment world then forget about every other qualification and give CFA a try. I say a try because that exams is crazy. Harder than an MBA in finance. Getting a job wont be had for a university Graduate but getting the CFA is the problem. U can always apply for a graduate scheme with investment banks or Brokerage firms if your university grade is good and also if the school is on a reasonable level. But dude the CFA is the problem. I am saying this because I know how crazy the materials are. In terms of salaries, CFA with 3 years expereince and more out earn people with MBA with a huge margin and CFA with 10 years experience out earn MBA with a wide degree. My point is getting the job is not that hard to get if you know how to market yourself. The CFA is the problem. Just market yourself well and you will get something in the investment today. But get into the CFA curriculum and master the materials if yo really want to get the lettters CFA after your name.

 

[goldcoins]

I disagree with Carter. MBA from a top school helps more than CFA. Generally, folks feel that by getting a CFA, you can get a high paying job. Again, it depends on the position and the firm. Wall Street firms hire primarily from top schools. CFA is required for certain positions; so if a person is in equity research, CFA will be useful (and necessary in some cases). I went to a prep course provider presentation and they mentioned that CFA charterholders earn millions of $$. This is just a marketing ploy.

MBA from a top school will outearn a CFA with limited or no experience. Also, IB positions do not require CFA