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CFA Charterholders - Is it worth it?
Posted on 5/25/16 at 7:32 pm
Posted on 5/25/16 at 7:32 pm
To anyone who has taken any of the tests, etc, what is your experience? The fees seem pretty steep in my opinion. Is there really that much value? What is this credential worth in your industry?
Does only passing Level 1 mean anything, or do you need to pass all three before claiming an actual accomplishment that will garner respect, etc
Does only passing Level 1 mean anything, or do you need to pass all three before claiming an actual accomplishment that will garner respect, etc
5
Posted on 5/26/16 at 12:15 am to Porker Face
Passing L2 may get you interviews but will be expected to complete. You can't claim any sort of title just by passing one test
This post was edited on 5/26/16 at 12:16 am
Posted on 5/26/16 at 5:59 am to Porker Face
It isn't a magic ticket to getting a front office job making $250,000 base and $10 million bonus. 4 years job experience is required along with passing the exams to get the charter but I've seen them approve basically anything as work experience. Analystforum.com is a good resource to check out. Some posters there are brutally honest about it.
This post was edited on 5/26/16 at 6:00 am
Posted on 5/26/16 at 7:13 am to Porker Face
I will say I learned and retained more knowledge studying for L1 and L2 than I did in all my studies getting undergrad and masters in Finance. IDK if it helped my career any (I didn't finish seeing that no one at work even knew what CFA was) but I think it's worth it for hte knowledge alone.
Posted on 5/26/16 at 10:30 am to Porker Face
I'm not in portfolio management, or anything close. I'm an engineer going back to school for an MBA with a career change as my goal
I figured taking this test while I have much of the knowledge fresh may be advantageous but then I saw the fees and reconsidered
I figured taking this test while I have much of the knowledge fresh may be advantageous but then I saw the fees and reconsidered
Posted on 5/26/16 at 11:16 am to Porker Face
If/when you're a student, you can get a discount/scholarship that will drop the price quite a bit. Talk to someone in the finance department to see if it's possible to get that discount. If you can, get ready for level 1 in December.
Posted on 5/26/16 at 12:46 pm to Porker Face
quote:
I'm not in portfolio management, or anything close. I'm an engineer going back to school for an MBA with a career change as my goal
I'm sitting for L2 in two weeks. I'm a former engineer who got his MBA two years ago. I now work in management consulting, I don't use it a ton right now, but its helped me get involved with work in our restructuring group. I pursued mine to deepen my finance knowledge and to help get staffed on more transactional work and possibly switch to PE. The restructuring work sort of fell into my lap but has been awesome experience.
Posted on 5/26/16 at 12:47 pm to Porker Face
quote:
I figured taking this test while I have much of the knowledge fresh may be advantageous but then I saw the fees and reconsidered
The fees pale in comparison compared to the time it will take to study for the test. I didn't even blink at the fees for L2 because i was much more concerned about the amount of time i had infront of me.
Posted on 5/26/16 at 1:21 pm to Porker Face
I sure as hell hope so
Posted on 5/26/16 at 1:43 pm to barry
Taking Level 3 this year. For the second time.
If you are worried about the fees, you have no idea what you are getting into. I would happily pay twice the money I paid for the 5 tests I took to have back the months of my life that I have dedicated to this helltrap.
Don't be fooled by L1. You will think it was hard, but then L2 is 10x harder, so you fail. Then you gear up and study hardcore and pass L2, only to find out that L3 is so brutally boring that you want to saw your dick off.
That's where I am in life. Contemplating reality with a reciprocating saw in one hand and a Viagra in the other.
ETA: it's been a great thing for my career, though.
If you are worried about the fees, you have no idea what you are getting into. I would happily pay twice the money I paid for the 5 tests I took to have back the months of my life that I have dedicated to this helltrap.
Don't be fooled by L1. You will think it was hard, but then L2 is 10x harder, so you fail. Then you gear up and study hardcore and pass L2, only to find out that L3 is so brutally boring that you want to saw your dick off.
That's where I am in life. Contemplating reality with a reciprocating saw in one hand and a Viagra in the other.
ETA: it's been a great thing for my career, though.
This post was edited on 5/26/16 at 1:44 pm
Posted on 5/26/16 at 2:29 pm to TheHiddenFlask
quote:
You will think it was hard, but then L2 is 10x harder, so you fail.
It the same quantity of info as L1, but EVERYTHING is important. Its insane.
Posted on 5/26/16 at 3:02 pm to barry
I yield on multinational restatements and FRA in general.
I would also complain about derivatives but Don Chance wrote the curriculum
I would also complain about derivatives but Don Chance wrote the curriculum
This post was edited on 5/26/16 at 3:03 pm
Posted on 5/26/16 at 4:06 pm to barry
The $649 Schweser self study package is all you're using?
Posted on 5/26/16 at 4:09 pm to RemouladeSawce
I think he had a couple of busts show up in the Errata. Sad!
This post was edited on 5/26/16 at 4:10 pm
Posted on 5/26/16 at 11:43 pm to Louie T
Yup, books and q bank
Posted on 5/27/16 at 11:29 am to barry
That sounds exactly like me. I'd love to get into consulting but there really aren't a whole lot of opportunities here in Northwest Arkansas.
I was thinking the same way; take the tests as a way to deepen my knowledge.
Of course I can always just learn it myself and not take the test, but having a credential would be nice, especially for a recareer like me because people often instantly assume I don't know shite about business just because I have an engineering background
Thanks for the advice yall
I was thinking the same way; take the tests as a way to deepen my knowledge.
Of course I can always just learn it myself and not take the test, but having a credential would be nice, especially for a recareer like me because people often instantly assume I don't know shite about business just because I have an engineering background
Thanks for the advice yall
Posted on 5/27/16 at 2:04 pm to Porker Face
quote:
That sounds exactly like me. I'd love to get into consulting but there really aren't a whole lot of opportunities here in Northwest Arkansas.
If you are serious about it then you need to go to a top 25 MBA program and be prepared to move to a major metropolitan area.
Posted on 5/27/16 at 9:37 pm to barry
Yeah I have realized that. The SO realizing a move to somewhere larger is still pending
Do you like consulting? Is it like everyone says?
Do you like consulting? Is it like everyone says?
Posted on 5/27/16 at 9:50 pm to Porker Face
quote:
Do you like consulting?
I love it.
quote:
s it like everyone says?
I don't know, what does everyone say?
Posted on 5/27/16 at 10:12 pm to barry
A challenging and rewarding career with access to the great opportunities and working with a lot of really sharp people. Use a variety of skills, very much merit based, lots of working in teams. Good compensation and great benefits
Lots of travel, long hours, high turnover
Lots of travel, long hours, high turnover
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