CFA

Emperor1989

Anyone do this??? or have any insight...i notice its a great qualification but not sure can you do it in Ireland.

Any help much appreciated!

smallerthanyou

It's a good qualification if you can get it. Very hard to get. You can do it in Ireland. Only in Dublin in the RDS. There are three Levels, called I, II and III funnily enough. Level I sits in June and December. Level II and Level III only sit in June so the shortest time you can get the exams in is 2.5 years. You need 4 years "investment" experience to get the qualification. The term investment experience is wide ranging and most things get through. Level I and Level II are multiple choice and Level III is multiple choice with a written section too. There are I think about 10 sections for Level I including Ethics, Financial Reporting, Quantitative Methods, Economics, Equity, Fixed Income and Alternative Investments. Think that's all the basics. Everything else is here: http://www.cfainstitute.org/cfaprogram/pages/index.aspx

Oh and a quick stat I heard which may or may not have been accurate, for every 100 people who sat Level I in June 2009 9 of them passed Level III in June 2011.

Edit: If you want to know whether I recommend doing it then Yes, if you think you can get through it and will use it in work then it's one of the best qualifications you can have. I'm partway through and I think it's too hard for me to finish and I don't really really need it for work so I'm unsure will I get through.

To confuse you further I've heard of this one too that's supposed to be similar to CFA but more Alternative Investment focussed so depending on your area of work may be more relevant: http://caia.org/

Emperor1989

Smaller I heard it is a superb qualification and is basically an M.B.A. for Finance/Investment/Equity/Markets take your pick.

I was advised that there is so few potentially in Ireland it would be a massive addition to a C.V. and much more well received that a general M.B.A.

I would advise you to finish it tbh, you started it and while it is hard it will be worth it in the end. Salary's increase by multiple's with the kind of access that qualification can give you to upper tier private sector.

Quick question what time of year do the exams take place?

Jim2007

Emperor1989 wrote: »

I was advised that there is so few potentially in Ireland it would be a massive addition to a C.V. and much more well received that a general M.B.A.

The CFA is one of several financial qualifications that were in high demand among the financial institutions before the recession. It is a specialist qualification and while it is well thought of in the banking in world, outside of that it most certainly would not be considered to be a match for an MBA!

Emperor1989 wrote: »

Salary's increase by multiple's with the kind of access that qualification can give you to upper tier private sector.

Look over the past two years or more, the banks have let thousands of people go with this and similar type qualifications, I know at least three friends with this qualification that have been unemployed for several months now. As the banks continue to downsize, you should not be under any illusion about how job situation in this sector.

Emperor1989

The CFA is one of several financial qualifications that were in high demand among the financial institutions before the recession. It is a specialist qualification and while it is well thought of in the banking in world, outside of that it most certainly would not be considered to be a match for an MBA!

This is true, but if you already have a Masters as I do why is the point in getting a M.B.A. really?..there really is no point. Financial Markets.Hedge Funds/Mergers etc. is the area I am keen to get into. I only really considered doing a M.B.A. if it could benefit your career and in the sector really business adminstration is a waste of time unless your in a management role in charge of a very big team or oversight which is not.

Look over the past two years or more, the banks have let thousands of people go with this and similar type qualifications, I know at least three friends with this qualification that have been unemployed for several months now. As the banks continue to downsize, you should not be under any illusion about how job situation in this sector.

Very surprised to hear they would be working in Banks tbh, there is no corporate banking hedge fund sector in Ireland other than Statestreet who has completely acquired the corporate finance of Bank Of Ireland a few years back and to a much smaller level Hedgeserv/citi and maybe Bank of New york/Mellon. I currently have a position with Hedgeserv as a graduate and its fine but the potential for growth is vast. Investment Banks who tear the hair out for CPA qualified with previous employment in the sector and with a general accounting qualification. Wow how do these guys not have jobs??.....Goldman Sachs took on a guy who was a friend in College with a basic Degree and Master in Finance with no accounting qualifications(must be said he did have 2 1sts from College) and is earning 50k sterling as part of there equity department in London as his basic 12 year probation with scope to haggle for more.

SBWife

Emperor1989 Jim worked with a CFA charterholder at some time in the past and didn't think much of the individual. He repeatedly responds to peoples' posts regarding the designation on this site with suggestions that they don't pursue it.

As a CFA charterholder I'll say it's a good finance professional designation, it's quite difficult to achieve the designation and it's recognition is increasing rapidly in Ireland. While I agree it's not as flexible as an MBA the upfront costs are significantly less, especially given it's not possible to get a world class MBA in Ireland, so the costs of leaving ones position and living elsewhere for 18 months or so must be taken into account if one where to follow this route.

Emperor1989

SBWife not wishing to intrude but as a result of being a CFA holder did it increase your salary and leader to further career progression or was it not worth the 3 years of study?

SBWife

I finished in 1998 and was working in New York at the time, my compensation increased significantly over the 3 years I pursued the designation but it was a very different time and a very different environment. If you are thinking of pursuing a CFA designation solely to make more money I think you'll have difficulties.

Emperor1989

Thanks, firstly I wont be doing it for at least 2 years as i still have to do my finals in accounting but I was thinking further down the line more so career progression rather than salary.

I like to think it gives you a great chance of moving to a job that can give you empowerment as a employee at least that is what I have been told.

Should all things going to plan be qualified before i am 23 as I am 21 now and then 3 years after that would be 26(more like 28 in reality with repeats etc) and that would be finished pretty much academic wise hopefully a few years before I hit my midlife crisis at 30:eek:.

Obviously i be lying if i said salary isn't a part and I like to think spending near 21/23 years studying would have some financial benefits but the main reason is career progression and opportunity to work in high places with great people.:D:D

Jim2007

SBWife wrote: »

Emperor1989 Jim worked with a CFA charterholder at some time in the past and didn't think much of the individual. He repeatedly responds to peoples' posts regarding the designation on this site with suggestions that they don't pursue it.

To correct a few errors in this statement, to the best of my memory I advised a person already working on a degree to concentrate on getting a good result in that rather than trying to do a CFA at the same time.

I think I may have advised someone doing accounting that I did not think it was worth while as there was such an over lap and that their time would be better spend working on something else they were considering but that might have been on another board.

Oh and in a career spanning over 20 years working for various European financial institutions I've had various working relationships with about 30 to perhaps 40 people holding this and the usual range of qualifications found in the financial sector.

Jim2007 (Switzerland)