CFA vs Actuarial, Which one is beter for me need a career advice?

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NeerajDBA

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Hi All,
Let me introduce myself. I am Navneet from India. I am a Hardware Professional (VLSI Design Engineer) with 2 years of experience and was working for Freescale Semiconductor, India but 2 months before I loosed my job in recession and couldn’t find a new one as of now.
In order to boost up my career, these days I’m evaluating risk associated with career switch to Finance, so I am planning for CFA or Actuarial exams. I will appreciate, if you please answer my 2-3 questions:
1) What is the future of CFA’s and Actuary. After Global financial crisis (Merril-lynch, Lehmon Bros, AIGs etc), does it advisable to enter into finance field after taking into account the prospects available in VLSI. I want to tell you one thing here that I am not looking for a job rite now in Finance sector. First I want to get good knowledge, may be clear some exams like CFA or Actuary and then look for a job. So it will take me probably around a year or so and I guess after one year market situation will be quite better than today and should job available in Finance Field also that time.
2) If I would clear all 3 CFA exams by dec’10, or at most June’11 at which career level I will get job. Will it be at entry-level or they will consider my Industry experience. What compensation should I expect at that time. I have basic knowledge of finance (equity- market,Financial Reporting etc). What is the salary package offered at that level.
3) And the most important question is which one is better for me to get a job in Finance domain CFA or Actuary. Which one you suggest me to get a jump in finance I’m sure your rich experience in the field will help me to take better decision.
Thanks a lot for your precious time …
Warm Regards,
Navneet Bhatia
 
Even if you take level I this june, there is no way you can done in June 2010.
go for acturial
 
Actuarial is not a ‘financial’ career. Its an altogether different career track in insurance, health and retirement benefits.
Actuarial careers are stable but it takes much work to get there. Also, if you want to be recognized as an actuary you will need to take exams of the society of actuaries, USA, or the institute of actuaries, UK. India probably has an actuarial society but likely not recognized outside of india.
exam process will take you 7 years average, has a veru high dropout rate, and is expensive.
with the CFA thing, you will need to find a job to get the experience to get the charter.
i think you should reconsider your decision to switch careers. hardware engineering is a good career.
 
cfaboston28 Wrote:
——————————————————-
> Even if you take level I this june, there is no
> way you can done in June 2010.
>
> go for acturial
huh? and he will be done with actuarial by 2010? whats that? you dont know? well i didnt think so.
 
needhelp Wrote:
——————————————————-
> cfaboston28 Wrote:
> ————————————————–
> —–
> > Even if you take level I this june, there is no
> > way you can done in June 2010.
> >
> > go for acturial
>
>
> huh? and he will be done with actuarial by 2010?
> whats that? you dont know? well i didnt think so.
That was my reply to him for CFA or Acturial..
 
Taken from wikipedia “A common rule of thumb for exam students is that roughly 400 hours of study time are necessary for each four-hour exam”
 
CFA charter - from a standing start with no experience - will take at least 4 years to get CFA charter - and that’s if you start in a relevant finance job now. If you don’t start working in a relevant finance job for a couple of years, then it will take 6-7 years to get the charter - IF everything goes well.
Actuary - from a standing start with no experience - it will also take at least 7 years - and you generally need to work in a firm (mostly life offices) which supports you. It’s a long hard slog and you need inhuman levels of commitment to stick it out to the end.
Either path is not one you should embark on without a clear vision of which direction you want to take.
Best plan would be to spend some time with a range of people in different careers to see what suits your skills, personality, ambitions, etc.
good luck with it all…
 
NeerajDBA Wrote:
——————————————————-
> Hi All,
> Let me introduce myself. I am Navneet from India.
> I am a Hardware Professional (VLSI Design
> Engineer) with 2 years of experience and was
> working for Freescale Semiconductor, India but 2
> months before I loosed my job in recession and
> couldn’t find a new one as of now.
>
> In order to boost up my career, these days I’m
> evaluating risk associated with career switch to
> Finance, so I am planning for CFA or Actuarial
> exams. I will appreciate, if you please answer my
> 2-3 questions:
>
> 1) What is the future of CFA’s and Actuary. After
> Global financial crisis (Merril-lynch, Lehmon
> Bros, AIGs etc), does it advisable to enter into
> finance field after taking into account the
> prospects available in VLSI. I want to tell you
> one thing here that I am not looking for a job
> rite now in Finance sector. First I want to get
> good knowledge, may be clear some exams like CFA
> or Actuary and then look for a job. So it will
> take me probably around a year or so and I guess
> after one year market situation will be quite
> better than today and should job available in
> Finance Field also that time.
>
> 2) If I would clear all 3 CFA exams by dec’10, or
> at most June’11 at which career level I will get
> job. Will it be at entry-level or they will
> consider my Industry experience. What compensation
> should I expect at that time. I have basic
> knowledge of finance (equity- market,Financial
> Reporting etc). What is the salary package offered
> at that level.
>
> 3) And the most important question is which one is
> better for me to get a job in Finance domain CFA
> or Actuary. Which one you suggest me to get a jump
> in finance I’m sure your rich experience in the
> field will help me to take better decision.
>
>
> Thanks a lot for your precious time …
>
> Warm Regards,
> Navneet Bhatia
How come your user ID is NeerajDBA? Neeraj doing business as Navneet Bhatia..jus kidding.
In my view, you can’t compare the two career paths in such a simplistic way at all. But since you want an answer, go actuarial. This is purely from a prospects point of view. Actuaries have great prospects in India atm. Clear a few Part I UK exams and you will be snapped up.
 
im pretty sure this is a joke guys he is taking the pi$$.
if its not - you should definately do the CFA.
 
DITCHDIGGER2CFA! Is that youuuuu??? yall know he got banned right?
 
Nah, probably more like dinesh.sundrani or rohufish. Ditchdigger’s too Americanized to pull off the Navneet from India charade.
 
Hardware Engineering is a very good career, I would like to know why you would want to switch other then the fact you are not currently employed.
 
SkipE99 Wrote:
——————————————————-
> DITCHDIGGER2CFA! Is that youuuuu??? yall know he
> got banned right?
What? why?
 
posting too many Schweser questions possibly. copyrights and what not. he sure wasnt vulgar or rude or anything
 
he dug a free ditch for a friend of mine the other night. very professional.
 
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