Careers,Job & Education - CFA/QFA/Masters etc Questions Go Here

mac123 · 22-02-2011 3:44pm

ofjames wrote: »

All those degree's would overlap hugely with the CFA. Doing both would not be a very worthwhile use of your time and money in my opinion. You would basically be paying for and studying the same thing twice.

The industry views the CFA as basically equivalent to a Masters in Finance or an MBA.

The problem with Masters programmes is that there are literally thousands of similar degrees worldwide. Similar, but not the same. In terms of employment, the strength of a particular degree and the perception of the graduates that come from it is largely dependent on the standing and reputation of the relevant University. Accordingly, if you have a Masters of finance from a top international school like London Business School, Harvard, Oxford, Cambridge etc... then you would be in high demand with the best employers in places like London and New York. If the degree is from a school they don't recognise however, they wont value it nearly as highly.

The attractiveness of the CFA for employers is its global footprint. No matter where you sit the exam in the world the curriculum and the test are the same. Also employers know it is of sufficient difficulty and rigour to have confidence that anyone who negotiates the 3 exams successfully has reached the level of competency they expect. In short, you could view the CFA as a really good Masters of Finance.

If you look at the Financial Times rankings of business schools and masters programmes you will see that the UCD Smurfit School is the only Irish university whose courses are regularly included in the top 100 (and they tend to be near the bottom). Trinity's courses have also made it inside the top 100 periodically. In general, the better the reputation of a university the more they charge for their programmes. In effect, you pay for what you get.

Therefore, my advice would be as follows. If you are determined to pursue the CFA then dont bother doing a general Masters in Finance. If you really want to do a Masters in the finance area than maybe do one that will focus on a niche area that does not significantly overlap with the CFA syllabus. A friend of mine did the Masters in Quantitative Finance in UCD and it is a very good course. If you have a good mathematical brain maybe looking into a course like that could be an idea.

Otherwise, with a 1st you would have a good chance of getting admitted into a top school abroad for a Masters of Finance. It will cost significantly more but it is likely you will see a return on the investment in yourself.

+1 on that.

I moved to Canada last year and having talked to a few people in the industry here, the most notable being the managing director of the trading floor for RBC Dominion I was told that the CFA is the only way to go. He told me not to bother with a masters and just go for the CFA so thats what im doing.

I sat level one in Dec and im now studying for the level two in June.

Its probably not as big a deal back home but if you wanted to work in N. America its more or less needed.

Appleby123 · 25-02-2011 12:45am

Hey, thanks all for the good advice, its much appreciated.

Ya a Masters abroad really appeals to me alright cause I like the sound of a bit of travelling aswell. In the last few days after a bit of thought and more research I think ill go for a more broad masters such as International Business or the likes (even Msc in International Business and Finance). International Business will be a massive area in Irelands recovery and think a Masters in this area would be extremely relevant and interesting.And also not knowing where jobs in Ireland are going to come from in the next few years I think doing a Masters that will keep doors open for me rather than closing them would be very beneficial.

I wouldnt be exactly a maths whiz even though the material Ive faced so far in Commerce i was able to handle fairly well (and got good grades in them). So Msc in Quant Fin or Msc in Comp Fin probably would be a bith too mathsy for me!!

Because the CFA seems to be such an essential thing to have in the FS Industry i think i will pursue it but not straight away as I really want to pursue a masters (but not just for the sake of it) and take your advice that doing a Masters in Finance and the CFA would be a waste of resources . Some lecturers are saying these days that a postgrad is what an undergrad was 15yrs ago and is becoming more and more essental for high end career/jobs!!

With regard to getting experience with an IB, it wont be possible this year but I have 6mths work experience in the FS Audit department of one of the Big 4 (but now know acc is not for me), so that might stand to me in some way!!

So thats my situation at the moment but would really appreciate any other advice/information you could give me.

whysomoody · 27-02-2011 11:39pm

mono627 wrote: »

If you're looking at applying to IB's the best thing you can do is apply for their Summer internship programmes. Having an IB on your CV is worth more than any Master's course IMHO.

Doing the Trinity MSc at the moment, so if you have any specific questions fire ahead.

Appleby123 wrote: »

Hey, thanks all for the good advice, its much appreciated.

Ya a Masters abroad really appeals to me alright cause I like the sound of a bit of travelling aswell. In the last few days after a bit of thought and more research I think ill go for a more broad masters such as International Business or the likes (even Msc in International Business and Finance). International Business will be a massive area in Irelands recovery and think a Masters in this area would be extremely relevant and interesting.And also not knowing where jobs in Ireland are going to come from in the next few years I think doing a Masters that will keep doors open for me rather than closing them would be very beneficial.

I wouldnt be exactly a maths whiz even though the material Ive faced so far in Commerce i was able to handle fairly well (and got good grades in them). So Msc in Quant Fin or Msc in Comp Fin probably would be a bith too mathsy for me!!

Because the CFA seems to be such an essential thing to have in the FS Industry i think i will pursue it but not straight away as I really want to pursue a masters (but not just for the sake of it) and take your advice that doing a Masters in Finance and the CFA would be a waste of resources . Some lecturers are saying these days that a postgrad is what an undergrad was 15yrs ago and is becoming more and more essental for high end career/jobs!!

With regard to getting experience with an IB, it wont be possible this year but I have 6mths work experience in the FS Audit department of one of the Big 4 (but now know acc is not for me), so that might stand to me in some way!!

So thats my situation at the moment but would really appreciate any other advice/information you could give me.

Agree with the first guy, Id say an internship with the CFA is the best combination. I am not sure how rated Masters degrees are rated in Ireland at least. The CFA is, as had been mentioned, a global passport which given the uncertainty here is a huge help.

CheckRaiseIRL · 06-03-2011 7:30pm

I will be doing CFA I in December and CFA II the following June.

I am not workng with an investment firm and will be doing completely self directed learning.

What are the resources available to me and do you recommend using them all simultaneously?

www.stalla.com
http://www.schweser.com/
http://analystnotes.com/

whysomoody · 06-03-2011 11:18pm

CheckRaiseIRL wrote: »

I will be doing CFA I in December and CFA II the following June.

I am not workng with an investment firm and will be doing completely self directed learning.

What are the resources available to me and do you recommend using them all simultaneously?

www.stalla.com
http://www.schweser.com/
http://analystnotes.com/

FYI - you need to be working 4 years in the investment profession to become a qualified CFA. Also I like your confidence at passing in December, best of luck!

soddy1979 · 07-03-2011 11:30am

CheckRaiseIRL wrote: »

I will be doing CFA I in December and CFA II the following June.

I am not workng with an investment firm and will be doing completely self directed learning.

What are the resources available to me and do you recommend using them all simultaneously?

www.stalla.com
http://www.schweser.com/
http://analystnotes.com/

I used the CFA Curriculum & Schweser for level 1 & level 2 (also using it now for level 3). I also used Finquiz for the last few weeks of level 2. It's all good, but once you get to level 2 it's highly advisable to use the main curriculum as much as you can.

SBWife · 07-03-2011 12:11pm

When you register the CFA Institute sends you the official curriculum. It's a combination of chapters reprinted from various text books and professional articles.* You should base your study on this material, and treat any professionally produced notes, as just that- notes to help understand or review the material. People do pass just using the notes BUT it's a riskier strategy and you'll have the full set of materials anyway.

*The reason they now do this is to ensure all candidates have the full set of materials, their intention is to increase the pass percentage by reducing the number of people who rely on notes in order to save money.

soddy1979 · 07-03-2011 12:13pm

I also highly recommend getting a question bank for level 1. Stalla have a product called passmaster, Schweser have a product called SchweserPro.

Jannise · 07-03-2011 1:05pm

A have both, official curriculum (6 books for Level 1) and 5 books from Shwesser. I can't say they are very different, but i find Shwesser a bit easier to understand and remember, than the official books. Try to read them both, as have a lot's of time till December.

CheckRaiseIRL · 07-03-2011 8:25pm

Is this the full set of Schweser study notes for CFA I? Amazon

woodseb · 08-03-2011 11:07am

CheckRaiseIRL wrote: »

Is this the full set of Schweser study notes for CFA I? Amazon

you're probably better off buying from the schweser site directly - there should be a link through the CFA ireland website that may give you a discount

whysomoody · 10-03-2011 8:17pm

Jannise wrote: »

A have both, official curriculum (6 books for Level 1) and 5 books from Shwesser. I can't say they are very different, but i find Shwesser a bit easier to understand and remember, than the official books. Try to read them both, as have a lot's of time till December.

I wouldnt recommend reading both, just do one book very well and lots of question.

lopppy · 14-04-2011 10:01pm

I'm in my final year of Commerce in NUIGalway specialising in economics. Last semester I got a job in one of the big 4, and I'm due to do a posgtgrad in Accounting next year then 3 years in their audit practice in Dublin. My average is 68 but I hope to get above the crucial 70 in the next few weeks

Problem is accounting really isn't what I'm interested in, its finance. I always knew that but I never really realised there was decent employment opportunities in it, I failed to differentiate between economics jobs and finance jobs I suppose (very naive on my part, I know!)

But now I'm wondering what to do about this, should I stick with the ACCA's for four years then go into finance?

The other option would be to take a year out (can't really afford a masters in September and probably too late) and start a Masters of Finance in 2012.

I suppose I'm just wondering would I be further ahead in the finance industry in four years after a masters and two years work or the ACCA's?

whysomoody · 14-04-2011 10:44pm

lopppy wrote: »

I'm in my final year of Commerce in NUIGalway specialising in economics. Last semester I got a job in one of the big 4, and I'm due to do a posgtgrad in Accounting next year then 3 years in their audit practice in Dublin. My average is 68 but I hope to get above the crucial 70 in the next few weeks

Problem is accounting really isn't what I'm interested in, its finance. I always knew that but I never really realised there was decent employment opportunities in it, I failed to differentiate between economics jobs and finance jobs I suppose (very naive on my part, I know!)

But now I'm wondering what to do about this, should I stick with the ACCA's for four years then go into finance?

The other option would be to take a year out (can't really afford a masters in September and probably too late) and start a Masters of Finance in 2012.

I suppose I'm just wondering would I be further ahead in the finance industry in four years after a masters and two years work or the ACCA's?

The ACA is very much respected world-wide as well so it depends on whether you think you would enjoy it, and the alternatives you have.

ixus · 17-04-2011 10:24am

lopppy wrote: »

I'm in my final year of Commerce in NUIGalway specialising in economics. Last semester I got a job in one of the big 4, and I'm due to do a posgtgrad in Accounting next year then 3 years in their audit practice in Dublin. My average is 68 but I hope to get above the crucial 70 in the next few weeks ........

The other option would be to take a year out (can't really afford a masters in September and probably too late) and start a Masters of Finance in 2012.

These two don't add up. You're due to do a postgrad but can't afford to do a masters? With a potential 1st, would you not skip the postgrad and do a masters in accounting that exempts you from most of your exams? That way, you only have the final to do and get the relevant experience.

I know the masters in accounting in NUIG offers this. Don't go into auditing if you're interested in finance. A waste of time. Look to get into structured financial accounting, examining the books of NAMA etc. THat kind of experience would set you up nicely for a career in finance (as broad as finance is).

When you say you want to work in finance what do you even mean?

lopppy · 18-04-2011 10:54am

The company is sponsoring me to do the postgrad, should have said that in my original post. Also, since I'm doing the economics stream I'm not eligible for a masters, because I'm not specialising in accounting in my undergrad and thus don't have the CAP 1's.

The part of finance that appeals to me would be any jobs relating to the financial markets, there seems to be so many different titles but asset management and the global markets are what appeal to me most. I've a friend that just started in JP Morgan in Dublin and his job sounds really interesting, so I suppose ideally I would like to end up in a firm like that although I'm aware how competitive the industry is.

If I did audit (which is what the contract is for) I would have the choice to work in financial services. Would it still be a waste of time?

Thanks for your help

whysomoody · 18-04-2011 10:46pm

lopppy wrote: »

The company is sponsoring me to do the postgrad, should have said that in my original post. Also, since I'm doing the economics stream I'm not eligible for a masters, because I'm not specialising in accounting in my undergrad and thus don't have the CAP 1's.

The part of finance that appeals to me would be any jobs relating to the financial markets, there seems to be so many different titles but asset management and the global markets are what appeal to me most. I've a friend that just started in JP Morgan in Dublin and his job sounds really interesting, so I suppose ideally I would like to end up in a firm like that although I'm aware how competitive the industry is.

If I did audit (which is what the contract is for) I would have the choice to work in financial services. Would it still be a waste of time?

Thanks for your help

JP Morgan in Dublin is mostly back office and middle office work, so make sure you know what the company can offer you before you decide that where you want to go. If you want Front office work, apply for JPM in london but going via Dublin is not the route to go.

mac123 · 16-05-2011 3:53pm

Does anyone have a list of the key formulas for the level 2 exam that they could send me?

whysomoody · 16-05-2011 6:55pm

mac123 wrote: »

Does anyone have a list of the key formulas for the level 2 exam that they could send me?

you would want a pretty big file, I am doing Level 2 and I wouldnt even know where to start to look. Have you got the Schweser books?

mac123 · 16-05-2011 7:15pm

whysomoody wrote: »

you would want a pretty big file, I am doing Level 2 and I wouldnt even know where to start to look. Have you got the Schweser books?

Yeah I downloaded them a while back. Thats what I have been working off for the most part. I know they have a list of formulas but its 25 pages worth.

I was hoping for something a bit smaller that I can just reference to quickly for the main formulas.

How are you finding it anyway? I think its harder than level one, not really the material but having less questions and a bigger range in the topic weights makes it difficult.

I did a full practice exam yesterday and my theory was good but the formulas let me down a bit.

whysomoody · 24-05-2011 1:09pm

mac123 wrote: »

Yeah I downloaded them a while back. Thats what I have been working off for the most part. I know they have a list of formulas but its 25 pages worth.

I was hoping for something a bit smaller that I can just reference to quickly for the main formulas.

How are you finding it anyway? I think its harder than level one, not really the material but having less questions and a bigger range in the topic weights makes it difficult.

I did a full practice exam yesterday and my theory was good but the formulas let me down a bit.

It's very hard work, I am getting through it slowly but it's hard to know where you stand with it. It is definitely a step up from level 1, the Schweser book alone are 400 pages longer.

soddy1979 · 24-05-2011 2:08pm

Best of luck peeps. Only 11 days left. Going to be so happy to be finished with this.

If anyone wants to hook up for a beer, just look for the dude propping up the bar in Paddy Cullen's at about 5.30!

whysomoody · 25-05-2011 10:05am

soddy1979 wrote: »

Best of luck peeps. Only 11 days left. Going to be so happy to be finished with this.

If anyone wants to hook up for a beer, just look for the dude propping up the bar in Paddy Cullen's at about 5.30!

I hope you're not the only one! 10 days left now, bloody hate that countdown timer!

CopperPipe · 21-07-2011 5:09am

Hello all,

Sorry to hijack the thread but......

I recently got accepted into the Msc in Financial Economics in UCC.

I was wondering if there was anyone out there who has any knowledge of the Masters in Financial Economics from UCC? How you found it? Was it benifical? Was there a very high level of maths? Were there many people in your course with non business backgrounds? Any idea how they found it? Job Opportunities?

Basically I'm look for any information you could give me! Particularly from someone who has gone through the Masters or is in the middle of it but hearsay is more than welcome!

Some info about me: I graduated with a First class Honours Degree in Quantity Surveying from LIT in 2010 and am currently in full time employment far far away. I dont really like the whole QS thing and was hoping to move into something along the lines of financial advisory/financial planning. I also wouldn't mind moving a bit closer to Ireland in the near future.

Thanks a million!

DC09 · 22-07-2011 5:56pm

Do any investment banks in Dublin have front office oppourtunities or would you need to look to London for internships in those areas?

LightningBolt · 26-07-2011 12:15pm

DC09 wrote: »

Do any investment banks in Dublin have front office oppourtunities or would you need to look to London for internships in those areas?

You'd have to look at going to London for investment bank work.

MaxPower89 · 03-08-2011 2:07pm

Will be sitting CFA 1 in December and was working off the CFA notes, but was advised to work off the Schwester notes, so downloaded them, but i cant print them as they are protected. Any way around this? I dont have the 600 odd bucks to buy more notes...

Thanks

SBWife · 03-08-2011 2:30pm

MaxPower89 wrote: »

Will be sitting CFA 1 in December and was working off the CFA notes, but was advised to work off the Schwester notes, so downloaded them, but i cant print them as they are protected. Any way around this? I dont have the 600 odd bucks to buy more notes...

Thanks

You've obviously read the CFA section on ethics then?

MaxPower89 · 03-08-2011 3:11pm

SBWife wrote: »

You've obviously read the CFA section on ethics then?

Read about 100 odd pages and then I got the advice that the Schwester notes condenses ethics into 80 pages, so I skipped onto quant methods then. I think I would of skipped onto something more interesting myself anyways, as it was drip dry boring. I'm currently working off the computer with the Schwester notes, but I would prefer actual paper notes.

I dont want to use 2 sets of notes either, one or the other will be best I think.

Any ideas?

ofjames · 03-08-2011 3:42pm

MaxPower89 wrote: »

Will be sitting CFA 1 in December and was working off the CFA notes, but was advised to work off the Schwester notes, so downloaded them, but i cant print them as they are protected. Any way around this? I dont have the 600 odd bucks to buy more notes...

Thanks

There are webpages that crack password protected pdf's. Just google.

Obviously you will be breaking copyright law etc and violating CFA ethics but if you're cool with that...

MaxPower89 · 03-08-2011 3:49pm

ofjames wrote: »

There are webpages that crack password protected pdf's. Just google.

Obviously you will be breaking copyright law etc and violating CFA ethics but if you're cool with that...

Ill just work off the laptop then..cheers.

whysomoody · 08-08-2011 5:24pm

How did everyone get on?

soddy1979 · 09-08-2011 8:10pm

Still waiting.... Tuesday is the big day for me. Less confident as time goes on. How did you get on whysomoody?

whysomoody · 11-08-2011 5:14pm

soddy1979 wrote: »

Still waiting.... Tuesday is the big day for me. Less confident as time goes on. How did you get on whysomoody?

yeah got it so onwards to level 3 now...Im sure you'll be fine/

SBWife · 11-08-2011 6:15pm

Do they release the results on different days now?

When I did it they all came out the same day but back then you got them by snail mail

soddy1979 · 16-08-2011 4:13pm

Passed, sweet!

MaxPower89 · 19-09-2011 5:53pm

What calculator would people recommend to use for the CFA? And can they be bought in Dublin?

whysomoody · 26-09-2011 11:17pm

MaxPower89 wrote: »

What calculator would people recommend to use for the CFA? And can they be bought in Dublin?

Buy them on Ebay, I used the texas instruments one - its excellent

envirowill · 14-11-2011 5:39pm

I'm currently working in IT in a large financial broker. We have a research division that is currently operational in our offices in the states but will eventually setup shop in europe. I'm looking to possibly move in to that side and research tech industries. I have been looking at this Graduate Diploma in Finance as a bridge http://www.londoninternational.ac.uk/prospective_students/undergraduate/lse/dip_grad/finance/index.shtml
as I don't have the money for a masters at the moment. I was recently looking at the CFA. Aside from being much more difficult and taking twice as long would it be a good idea to go for the CFA instead? I'm not sure if they would count me working in my IT role in a broker as work experience tho? Maybe I would have to switch roles after I get level 1 or level 2?

thank!

AstonMartin · 30-11-2011 11:17am

Are there any good part time investing courses in dublin that would be suitable for an accountant?

Spankyspanks · 08-02-2012 12:34pm

Hi,

Would anybody happen to know if it is possible to purchase a seperate add on for this? I have bought the notes but I want to get this in addition.

Alternatively, does anybody know where this can be reliably downloaded? I have googled and there are a few options but wondering if anyone has a trusted source?

soddy1979 · 08-02-2012 12:37pm

Spankyspanks wrote: »

Hi,

Would anybody happen to know if it is possible to purchase a seperate add on for this? I have bought the notes but I want to get this in addition.

Alternatively, does anybody know where this can be reliably downloaded? I have googled and there are a few options but wondering if anyone has a trusted source?

You can buy it as an add on from Schweser alright.

whysomoody · 30-05-2012 7:00pm

Anyone doing the CFA this weekend?

ballyk · 01-06-2012 1:50am

Thankfully not. Finished it in 2003. Not a nice way to start the bank holiday weekend though!

Best of luck with it. What level are you doing? Enjoy the rest of the weekend and all your free time after it!

Marcus Halberstam · 22-06-2012 10:53am

AstonMartin wrote: »

Are there any good part time investing courses in dublin that would be suitable for an accountant?

Did you ever find anything here? I'm finishing my training contract in the near future and would love to get into trading but I'm wary of the risk. I know a few lads who did courses but I think I'd have a good understanding of finance already

towerhillpaddy · 08-07-2012 10:17am

Hi all, looking for a quick steer if possible.

ACA, Bcomm, MAcc behind me and 5 years in LEC and 2 in internal audit in v large IB in London.

Looking to do the CFAs and just looking to know whether the December set (level 1) are a realistic option at this stage or whether, to be very safe, June is a better call? Just FYI, with Olympics visitors with me theough July and to mid August, study proper would be unlikely till mid Aug.

Any guidance much appreciated

SBWife · 08-07-2012 4:08pm

The curriculum is divided into 18 study session designed to be completed over 18 weeks and then you need another few weeks for review and practice questions. For the December session you'd need to be starting in early August at the latest and even then you'd need to squeeze a few extra sessions in to give yourself time to review.

towerhillpaddy · 09-07-2012 7:53am

Cheers SBW - appreciate it. To be honest that was very much the way I was leaning, just wanted it "confirmed". No point in leaving myself short for the sake of 6 months

freeze4real · 27-07-2013 12:05pm

Hi guys,

Can the QFA will compkleted under 8months - 1yr.

Ideally I would like to do the QFA & a diploma in stock trading next year while working. I'm just doing it fir the sake of doing it and who knows when they'll come in handy.

And the year after that I'll doing a masters in UL.

Is there a point in doing these courses & a masters.

thanks

Careers,Job & Education - CFA/QFA/Masters etc Questions Go Here

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