disiz64

Chuckrox8 Wrote:
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> nuppal Wrote:
> --------------------------------------------------
> -----
> > I just dont buy the "it wont help you argument"
> >
> > If you have two very similar candidates, yet
> one
> > is an l3 or CFA, who do you think admissions is
> > gonna pick? It wont make up for a lousy GMAT
> but
> > it gives you the extra push at the wire.
>
> Absolutely, especially if you are applying to a
> school that is dominated by its finance program.
> The truth of the matter is that the CFA, while
> highly respected amongst industry peers as the
> gold standard for asset management, ER, etc..., is
> not that well known outside of finance.
> Unfortunately it's just the reality of the
> situation and we accept it. How many people have
> we told the C is for Chartered not Certified and
> the A is for Analyst not Advisor. One of these
> days I'll apply to bschool and they better damn
> well know what the CFA Charter is and how
> difficult it is to obtain.

I am as passionate as you are about getting the CFA before B-School. However, I have alternative perspective for you. One of my mentors is am Equity Research Analyst at Janus and graduated with an MBA from Chicago’s Booth. He said out of the whole program (Accounting /Finance) one-two people had the CFA. The people reading your application and essays are not as educated in credentials as you would hope. However, any feather in your cap at >10% unemployment is a feather. There is not as much traction in the USA B-Schools with CFA marketability that you would hope for. Nonetheless when you graduate you will have one-step up in recruiting sessions.

soddy1979

I think the problem here is that people are trying to assign a binary rule (CFA matters/CFA does not matter) to this argument. Of course the CFA designation is not worthless. It's just in most fields, it only matters a little bit, and in most cases, this is less than what CFA candidates would like to think it matters.

Wasteoftime

There is no question that the CFA matters. It clearly does not hurt to have one nor will recruiters ding you if you claim to be pursuing it. The issue is whether doors will swing wide open for you once you have those 3 letters after your name. A headhunter I knew dinged a candidate for an Strategic Planning role just because she did not have the letters, CFA.

ftwcfa

jackofalltrades Wrote:
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> There is no question that the CFA matters. It
> clearly does not hurt to have one nor will
> recruiters ding you if you claim to be pursuing
> it.

This.

/Thread

__________

"good personality ... or he was known as Lt. Mandingo during his army days."

studyn

CFA is tougher than CPA I believe and at the same time more interesting.
I think that CFA has not got much attention coz there is no placement in companies like MBAs or CPAs get. If you are a CPA ..that is enough to convince that you know some accounting..but CFA doesnt convey the same.

ramdabom

Another problem with the CPA vs. CFA argument is that the financial industry is over diluted with worthless designations that don't mean sh!t. Accounting (Tax, Audit, Law, etc...) probably doesn't even scare 30% of what the investment world offers. There are far too many rinky dink 3 letter acronyms that you can receive with a couple hours of effort.

manasib

jackofalltrades Wrote:
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> A headhunter I knew dinged a candidate
> for an Strategic Planning role just because she
> did not have the letters, CFA.


Jack...could you explain more about headhunters. ie what exactly they do, how successful they are, how to obtain one, have you ever used one...?

Benjiko

You do not look for headhunters. They find you. And, yes... I have used headhunters before. They pretty much try to ship your big arss to another company thereby earning a fee from the target company. They are very successful at placing an individual since they talk directly to the hiring manager.

joemoran

I talk to an admissions officer from LBS a couple of weeks and his short answered is yes: being in the CFA program is very important. This guy goes through all candidates and he knew perfectly well what the program was and what it entailed.

I'm guessing it will be different for non-top schools and/or schools not finance oriented (but why the hell do you wanna go there?)

One of the founders of the CFA Institute was a Columbia alumni and teacher and they have a CFA Club on campus, do you think admissions don't know about it?? hell yea!

I really don't care that CPA's don't know what the CFA is. I just care that people in finance know, and more and more so do.

MonkeyBusiness

I think the CFA shows that you can be dedicated for 4 months and pass an exam. I've talked to people who have their charter and i'd say about 65% of them do not remember the stuff and are not very intelligent. I think all the CFA shows is that you test well. I an know analyst who is ridiculous and make bank failed L1 twice, L2 once and finally said F this, im going back to making loot.