Just Passed L3 (advice) top, education, something, business

ogoluwa

Hi guys,

For those of you who are pondering whether to do CFA or not, here's my advice for what its worth.

If you can afford to spend money to get a top MBA, that might be a better alternative.

CFA is quality education. Each level I studied taught something new and valuable. It's a tough exam and you will spend a lot of hours. While cost is lower compared to an MBA from top business school, count that you will spend atleast 3 years studying and possibly 4. I finsihed in 3 years, but it could have easily been 4 if I failed even 1 level. Or 5. So, how much is that extra 1,2 or 3 years to you? To me its definitely not worth 80k on an MBA.

You should pursue CFA program only if you want to pursue the research analyst track. Equity research, fixed income research, quantitative research, emerging markets research, whatever. Those jobs require a certain level of personality, communication skills, writing skills, etc. Meaning, an english/pshycology major has equal or better chance of finding a break

I also know a lot of IT professionals pursuing CFA. Do it only if you are seriously considering getting out of IT. It's a tough decision. IT market where I am is very very hot, and has been for years.

My bottom line is, MBA from top business school is a ticket to career change, CFA program is probably not.

Having said all that, I have utmost respect for the CFA program and its curriculum. Its quality stuff. I just think, a Masters in Finance or MBA from top school could be equally good or better considering the scarcity value.

If you are young and not in advanced stages of your career, than the above advice does not apply. In that case, no harm taking the CFA. But if you are successful in a career and are eking to do the right thing i.e studying to got further ahead, than think carefully before making any moves.

Even if stocks and investments is your passion but you don't want to get into a research analyst position, than think twice. Can you find another masters or PhD program that can get you a better job? I think you can & you should.

You can seek direct advice from me if you want

rstar
2020
AT
gmail.com

Good Luck!

hoangvu90

Riyaz,

Did you use any of the prep courses (Stalla, Elan, etc.) during your three years? If you did, can you please share your experience?

Thanks.

busterbluth

Can you define what YOU mean by a top business school or, rather, at least the school(s) that make(s) the cutoff point.



Edited 1 time(s). Last edit at Saturday, August 20, 2011 at 02:32AM by jonathankyim.

morebeans

If you email me, make sure you include proper introduction so I know your background before I advice! If you want to ask about how difficult the CFA program is, I think the answer is, it depends on your interests. No matter what your interests, you can't pass this exam without hardwork, unless you are someone with some rare talent.