CFA future

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1moreQ

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What do you guys think the value of CFA will be in 5-10 years after the novelty value has worn out?

The CFA institute has done a good job at maintaining the integrity of the system and difficulty of the test�with a growing number of CFAs, I am wondering if if there ever will be an oversupply. Perhaps the institute will add a 2nd tier test for specialization/area focus.
 
The novelty will probably wear off the week after the novelty of getting an MBA or CPA wears of.



Edited 1 time(s). Last edit at Wednesday, September 6, 2006 at 10:40AM by Super I.
 
By the time the novelty value has worn off, the experience you are likely to get from having the Charter while it is still novel is what will be paying off. It's like compound interest. This naturally assumes that one can obtain the charter within 10-15 years.
 
It seems like there already is an over supply. Look at all the BOMs that are trying to get the charter or have past all three levels and are still looking for a way into the industry. Last June, Cosine made an excellant post regarding the charter, its future, and its merit.

Of course, I'm not saying that it has no value. But the chater is not a sure fire way to success in the industry. Attaining it will not land you a job by itself. It's only one piece to the puzzle.
 
Bateman has it spot-on. Like any designation, it is only a piece of the puzzle and in many cases simply the minimum requirement to attain a position.
 
there are two ways to make more money than the average dope on the street; have innovative ideas, or be a great salesperson

innovation over the last few years has come from the quants - that will change, as market dynamics are always shifting...and sales is sales - that won't change...the cfa is a mechanism for picking up the workings of various markets, it doesn't really matter how many people have it...great ideas might be slightly easier for a CFA, but not by much

a premium in finance is paid for a great idea that is different from what everyone else is saying, and a track record of having such ideas makes you an ideal hire, vs. a lemming with nice designations...and bringing in money is a skill probably UNDERMIMED by more and more credentials
 
some ten days back, CFA institute came out with a half page advert in major business dailies in India urging people to join the program..
this is for sure a bad sign for things to come..
 
Do you guys think that the CFA could be subject to the law of diminishing marginal utility?
 
The best way to look at the CFA is as a cartel: The incentive for charterholders like me is to restrict supply, to maintain prices.

The incentive for newbies is to get the charter for themselves - to benefit from the higher prices - and ignore the marginal cost to existing holders like me.

I think the latter effect is already winning out. I have a load of CV's / Resumes on my desk - many of them with CFA but f*ck-all experience.

Very sad.
 
>I think the latter effect is already winning out. I have
>a load of CV's / Resumes on my desk - many of them
>with CFA but f*ck-all experience.

DC, you must not have seen mine yet. Mine doesn't have CFA and, as an added bonus, sh!t experience!
 
> I think the latter effect is already winning out.
> I have a load of CV's / Resumes on my desk - many
> of them with CFA but f*ck-all experience.
>

DC,

I was under the impression that the work experience guidelines in awarding the charter would ensure that more or less everyone had 3/4 years of quality work experience. Is that not so?

How are candidates able to get the CFA charter with "f*ck-all experience"?

I am guessing you do a lot of hiring. What kind of experience do you consider the good stuff?
 
I dont do A LOT of hiring, but I have done some.

My observations / moans / thoughts are: (in no particular order)

1) It doesn't matter if they have the charter or not. Passed L3 is the same thing. Employers dont know the difference on the whole.

2) I guess it's what you define as 'quality' experience. There seems to be a fair few people who - to my mind at lest - do support or admin roles who are able to big-up their experience sufficiently to blag a charter. As I noted above though, this really doesn't matter.

3) There are alot of people out there doing sh*t jobs, get the CFA and stuggle to get out of those sh*t jobs. They are 'typecast.

4) Lots of people try to get into trading jobs afetr a couple of years in the industry.

5) Lots of people are desperate to get out of trading jobs about 8 months later.

6) I guess what i'm saying is that the CFA is nice to have, but the key is experience experience experience.
 
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