| Topic Name: |
Investment Management |
| Message Name: |
CFA is MUCH more difficult |
| Date Posted: |
03/20/2002 |
| In Reply To: |
You should talk to people senior in your firm for their impressions. Hopefully they are knowledgable and have some experience at a top firm that they can draw on.
You're definitely on the road to working your self up the path. No doubt you should take comfort in that you're by no means the first to do so on Wall Street.
I do not work in investment management but am seeking work in it. My impressions of your plan:
1) I would start the CFA right now. It is, in my belief, not as difficult as people say; it is roughly equivalent to haven taken an advanced undergraduate econ, finance and accounting class.
The CFP is a non-designation in research and asset management. CFP might only be applicable in a private client group if that's where you want to be.
2) I do not know much about part-time MBAs but if it helps you get more responsibility where you're at, go for it. Note that a large number of people in investment management have CFAs in place of MBAs. But the MBA, done right, is an academic more than a professional credential and you may need it to add to your academic credentials if you don't already have a top undergraduate credential.
Best wishes. |
| Message: |
Dear Fuzzbit,
While I agree with your advice about pursuing the CFA designation ASAP vs going for CFP first; I strongly disagree with your assessment that the CFA series is on par with taking undergrad econ, finance and accounting classes.
Have you taken any of the tests yet? I am on Level II of the series and can state that it is much more difficult. The volume of material is what gets most people. The pass rates for Level I and II were 49% and 46%. I don't think that all of those people who failed were morons.
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