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- 2011-5-26
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13#
发表于 2011-7-13 16:04
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ox10 Wrote:
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> Well series 7 is one test with "normal" pass rates
> and doesn't take 4yrs to acquire. Plus some
> people legally have to have it to perform their
> job duties. I know it's legal, but shady as hell.
> Obviously, I'm not very objective here.
I can definitely see this happen. I'd ask, why WOULD an employer keep an employee around if he cannot pass the CFA in 5 years. Say you are hired fresh out of graduating from NYU as an equity analyst. Its pretty clear to me and I am sure all of you here, that CFA program and its curriculum is pretty useful if one is gunning to be a successful analyst. Given, that so many of us here are busting are chops, then some of us get out and pass the CFA, whats the point in keeping an analyst around if he cannot pass the CFA.
Now ofcourse, the employer is not stupid. If he feels, the analyst is awesome at predicting numbers, deciphering annual reports, 8ks etc and very valuable team member, then he obviously will keep him around. Infact he would want him around.
But say he is a crappy analyst, and on top of that couldn't pass the CFA, and you as manager are consntantly getting bombarded with resumes of people who claim they passed all 3 levels, why in the world would you keep that lowly analyst around? That's my question.
Some folks here think PM job is the ultimate. I think that way too. But there is one more fact. On average a portfolio manager of a fund keeps his jobs for only 3-4 years. Why? Cause they underperform, and sponsors dont have so much patience to lose or underperform the benchmark year in and year out. Very few fund managers are successful and they are the famous ones.
I'd definitely like to be a fund manager one day, but I also know, that my current job is lot more secure.
If you are managing someone's money or are making research recommendations, then the employer does not need to disclose to you before he hires that he might expect you to up your knowledge, or also prove that you have upped the knowledge by passing the CFA. Its a tough world out there. Analyst job is not a government job where you are guranteed job for life and then a pension until you die!!! |
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