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No, she worked in the lab, after finishing her masters, for the university and then in a hospital for 2-3 years before she got recruited by a consulting firm. Of course, she was also “working” in the lab while studying her masters. And during the whole time she didn’t think about business/ finance at all. in fact, she was going to do her phd at some point but just wanted to take a break (and seek out a good school to do it).villnius wrote:
I believe we are talking about two different scenarios.
If i read your post correctly, it sounds like your friend completed her masters, then was recruited by a consulting firm. So basically, her first job out of college was consulting. There was no “switching fields”. She’s in consulting. Similar to my brother-in-law. He graduated Political Science, but was hired out of school as a broker. He moved up to and is now a sales trader at a bank. His whole career was finance.
My scenario would be if she got her masters, then worked in a lab for 10 years as a practicing micro-biologist studying cells or diseases (or whatever micro-biologists do…) and then up and decided to switch to Finance.
You think these are the only types of people who should be taking the CFA? Really? I’d argue the program is a bit broader than that.The Righteous Hacksaw wrote:
Young appears to be straight out of college, either trying to break in or just broken into finance. Preferably with awesome undergrad grades from awesome undergrad university. In other words someone who is already entry level material without the cfa, but who might benefit from the knowledge given in the program. E.G. An applied math major from Harvard who just got his first job at Goldman or something like that as a junior analyst.
There is so much wrong in this post.vicky_cool400 wrote:
Your viewpoint is so shallow about the CFA program and just cant go beyond a $ 2,00,000 or $ 5,00,000 salary.
A person who completes the CFA program is well equipped to handle money- Others and more importantly
own money. Then he can generate good returns which a person without a charter may not be able to.
So for each individual CFA program will surely add value .These people wont be taken for a ride by the so called smart I bankers whom bonuses get funded by Fed/other govt by putting the common people at ransom . Printing money has saved these banks and nothing else in the crisis.
Most of I bankers who brag about thir bonus forget the firms they work are virtually bankrupt and saved by common (non cfa citizens). Thank the corrupt Govt for your bonus and not your skills .
haha good oneThe Righteous Hacksaw wrote:
i hope those equity research reports you write won’t be written in English.vicky_cool400 wrote:
Lolz this thread is bullhsit and adds no value to the forum itself
Self proclaimed gods and judges who keep showcasing how worthless is CFA program for most
Ps: as for me i have just cleared L2 and trying to get a break in a equity research firm
I know i wrote some hard facts about the source of the bonus , but thats the truth. I did kick the soap box under these lavish bonuses given to people who virtally caused financial meltdown.
I guess, but the point is a weak one. Those types of people can literally do almost anything they want, from business school to law school to medical school to finance and everything would make sense and be a viable option. Whether the CFA is worth it is only an interesting inquiry on the margins.The Righteous Hacksaw wrote:
^ no not only. But exactly the type of people who definitely should be in the program. I’m trying these types first. That way people who are in the program or thinking about it can be more informed.
No need to get hostile with the “and guess what”, I-told-you-so verbiage. My original post said “if I understood you correctly”. Obviously I did not. I wasn’t trying to manipulate anyone’s opinion. Thank you for clarifying and I’m glad your friend found a satisfying career path, although I still feel her successful transition is the exception not the norm.NANA Hachiko wrote:
No, she worked in the lab, after finishing her masters, for the university and then in a hospital for 2-3 years before she got recruited by a consulting firm. Of course, she was also “working” in the lab while studying her masters. And during the whole time she didn’t think about business/ finance at all. in fact, she was going to do her phd at some point but just wanted to take a break (and seek out a good school to do it).villnius wrote:
I believe we are talking about two different scenarios.
If i read your post correctly, it sounds like your friend completed her masters, then was recruited by a consulting firm. So basically, her first job out of college was consulting. There was no “switching fields”. She’s in consulting. Similar to my brother-in-law. He graduated Political Science, but was hired out of school as a broker. He moved up to and is now a sales trader at a bank. His whole career was finance.
My scenario would be if she got her masters, then worked in a lab for 10 years as a practicing micro-biologist studying cells or diseases (or whatever micro-biologists do…) and then up and decided to switch to Finance.
So yes, she DID switch fields, however you try to manipulate it. The fact is, she didn’t go into microbiology IN HOPES OF going into equity research for pharmaceutical companies one day, if that answers your question.
And guess what, she’s more qualified and moved up a lot quicker than those business school grads with MBAs and what not, having a solid expertise in science. (she knows some chemists with similar career paths as well).
My exact point. Sometimes benefits too are intangible.Greenman72 wrote:
Well, I disagree with TRH’s basic premise, if only because I believe that pride and the sense of accomplishment do count for something, even if you never actually “use” the CFA initials.
However, I’ll be the first to admit that I probably wasted my time with the program. I could have accomplished (for what I want to do in life) the same thing by taking the ABV or ASA and the CFP. This would have taken less time, less effort, and less money. And it would actually probably be better, because the AICPA recognizes ABV, and the general public recognizes CFP. Nobody in my job field knows what the CFA is.